Juan Llanos at TedxMidAtlantic: “If Money Doesn’t Flow, Life Doesn’t Flow”
In the past 8 years, TED talks have taken the internet by storm, with presentations covering everything from the positive effects of gaming to the philosophy for a happy life.
In the past 8 years, TED talks have taken the internet by storm, with presentations covering everything from the positive effects of gaming to the philosophy for a happy life. While not the first TED talk to delve into Bitcoin and certainly not the last, Juan Llanos delivered a rousing presentation on the potential effects the digital currency could revolutionize much more than global distribution of wealth.
Llanos, a Certified Anti-Money Laundering Specialist since 2003, was born in Argentina and now lives in the United States. He started off his talk by going over the reality a majority of countries ravaged by inflations and loss of currency face, including the hardships he faced in his home country.
As he put it simply: “If money doesn’t flow, life doesn’t flow.”
Llanos explained how this flow is hard to keep up due to high remittance fees from banks – in some countries in Africa remittance fees spill over 20%. According to the World Bank, if these fees were cut by 5%, over US$16 billion dollars would reach their destination country.
Citing this estimate, Llanos elaborated: “Imagine if a mother (in Zimbabwe) were to receive two additional dollars from her son in London. Two dollars is probably more than she can make in a month.”
With the rising growth of internet users in Africa (Llanos cites an 82% growth in 2013), Llanos transitioned to what he considers the best money transfer system sans a third-party: Bitcoin.