My friend's Mom works in a small bank and knows that I'm interested in Bitcoin so when they had an issue come up at the bank involving a different customer I was called into the President's office for a meeting. I was surprised that both President and Vice-President of the bank were there and they quickly admitted that they had only heard about Bitcoin in the news but that they didn't really know anything about it.
I talked with them about Bitcoin's origins after the banking crisis and it's potential use as a reserve currency or a hedge against inflation. I described the Fed's policy on quantitative easing and they leaned in to listen closely. We talked about how Bitcoin differs from gold in terms of utility and security, but is similar in terms of scarcity and the properties from which its value is determined. I glossed over how all of their account records are centralized and shared only with their partner institutions, but introduced them to the decentralized nature of blockchain and how the open, distributed ledger of Bitcoin is much less anonymous than some state actors would like them to believe.
By the end of our hour-long meeting they were thanking me for my time and offering me a consultancy fee! I told them I'm happy to come back and talk anytime because we still have important concepts such as mining and other blockchain applications to go over. We should remember to never be afraid to share our knowledge with those who have questions about blockchain and crypto. It seems to me like the best way to encourage adoption. So I did my part to help yesterday, can anyone else say the same?