Ep. 748 Why Banks NEED Blockchain

In this episode of the Crypto 101 Podcast, Scott Shay, co-founder of N3XT and former co-founder of Signature Bank, joins from the Out East Summit to explain why the banking system needs to be rebuilt on blockchain rails. He walks through his history building multiple banks, creating Signet as one of the first 24/7 blockchain-based banking payment systems, and why he believes legacy banking infrastructure is outdated, fragile, and too politically exposed. Check out ShipStation and use my code crypto for a great deal: https://www.shipstation.com Check out Omaha Steaks and use my code BEEF for a great deal: https://www.omahasteaks.com Check out Scribe and use my code scribe.how/CRYPTO101 for a great deal: https://scribe.com Check out Quince: https://quince.com/CRYPTO101 Check out Shopify: https://shopify.com/crypto101 Get my #1 altcoin pick for this month. Get immediate access to my entire crypto portfolio for just $1.00 today! Get your FREE copy of "Crypto Revolution" and start making big profits from buying, selling, Get immediate access to my entire crypto portfolio.. just $1.00 today! Go here to get access: https://www.crypto101insider.com/cryptnation-directm6pypcy1?utm_source=Internal&utm_medium=YouTube&utm_content=Podcast&utm_term=20250916 Get your FREE copy of "Crypto Revolution: Your Guide To The Future of Money". In this book, I reveal how to make (and keep) a fortune during this crypto bull run! http://www.cryptorevolution.com/free?utm_source=Internal&utm_medium=YouTube&utm_content=Podcast&utm_term=20250916 Chapters 00:00 Intro 01:00 - Bitcoin cycles, belief, and market psychology 02:00 - Banking 101 and Operation Choke Point 03:15 - Scott’s history building multiple banks 04:00 - Discovering Bitcoin and blockchain in 2013 06:00 - Why legacy banking rails are outdated 06:45 - Building Signet, a 24/7 blockchain payment system 08:50 - Signet reaches trillion-dollar transfer volume 11:40 - Why banks need blockchain core operating systems 13:55 - Fractional reserve banking explained 16:35 - Full-reserve banking and U.S. Treasury backing 23:30 - Why banks can become political mechanisms 27:15 - What’s next for N3XT 27:50 - N3XT digital dollar moves onto Ethereum Subscribe to YouTube for Exclusive Content: https://www.youtube.com/@crypto101podcast?sub_confirmation=1 Follow us on social media for leading-edge crypto updates and trade alerts: https://twitter.com/Crypto101Pod https://instagram.com/crypto_101 *This is NOT financial, tax, or legal advice* Boardwalk Flock LLC. All Rights Reserved ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Fog by DIZARO https://soundcloud.com/dizarofr Creative Commons — Attribution-NoDerivs 3.0 Unported — CC BY-ND 3.0 Free Download / Stream: http://bit.ly/Fog-DIZARO Music promoted by Audio Library https://youtu.be/lAfbjt_rmE8 ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Our Sponsors: * Check out MOD and use my code CRYPTO101 for a great deal: https://mod.com * Check out Quince and use my code CRYPTO101 for a great deal: https://www.quince.com * Check out Scribe and use my code scribe.how/invest for a great deal: https://scribe.com * Check out ShipStation and use my code crypto for a great deal: https://www.shipstation.com * Check out Shopify and use my code shopify.com/crypto101 for a great deal: https://www.shopify.com * Check out TruDiagnostic and use my code CRYPTO101 for a great deal: https://www.trudiagnostic.com Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy