… financial exchange essentially solving money from an information theory standpoint where the current banking system is a large number of heterogeneous databases with batch processing that are not secure. And If we could have a single database that was real time and secure that would be more efficient from an information theory standpoint. than a large number of heterogeneous databases that batch process Very slowly and securely. So that was sort of X.com way back in the day, which kind of became PayPal and then. (37:32–37:47)
CLAIM
Asserts that a single, real-time, secure database would be more efficient than the current banking system.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
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