Fintech and Bitcoin with Kevin Lehtiniitty

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“It’s not even about the financial gain; sure maybe it’ll 10x, maybe it’ll 100x, maybe it’ll 2x. I don’t really care. It’s about the freedom.”
— Kevin Lehtiniitty

SHOW DESCRIPTION

Location: Squadcast
Date: Wednesday 14th October
Company: Prime Trust
Role: Chief Product Officer

Over the last few years, neobanks and fintech companies such as Cash App, Revolut, Venmo (amongst others) have grown hugely in popularity, with many choosing to step away from traditional banking and jump on this new wave in finance.

Neobanks offer features that you cannot access in the traditional finance world. Along with quick and more effortless transactions, many services allow you to invest in stocks, commodities and Bitcoin (and other cryptocurrencies), from within their apps.

So, what impact will exposing hundreds of millions of people to Bitcoin have? 

Prime Trust is one of the companies behind that help these fintech businesses operate, and in this interview, I talk to Kevin Lehtiniitty, their Chief Product Officer. We discuss financial censorship, the outdated legacy infrastructure in the US, neobanking and the role of bitcoin in the future of financial applications.

TIMESTAMPS

00:04:51: Introductions
00:05:58: Impact of coronavirus discussed
00:10:57: International travel during the pandemic
00:13:33: Kevin's Bitcoin story
00:16:51: Adult and pornography
00:18:35: Financial censorship
00:20:41: The broken financial infrastructure in the US
00:22:53: PrimeCore universal asset platform
00:23:42: What actually is Prime Trust?
00:25:45: The challenges facing Prime Trust
00:32:14: Banking for the cannabis industry
00:33:47: Federal vs state legislation in the US
00:39:54: Banq - a case study
00:41:43: Cheque payments in the US
00:45:12: The popularity of payment apps in the US explained
00:46:00: Prime Trust and crypto - the risks involved
00:48:27: Prime Trust's infrastructure
00:56:01: Bitcoin leading a crypto growth in the banking space
00:57:49: That Presidential election…
01:01:06: Final comments

 

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SHOW NOTES

PodcastPeter McCormack