Matthew Mežinskis, creator of the Crypto Voices Global Monetary Base project joins the show to discuss how Bitcoin stacks up against sovereign currencies. In this episode: 

• The difference between base money and broad money
• Why Bitcoin should be compared to base money and not the broad money supply
• How exchanges are serving as proto free banks – and why they might end up becoming transparent fractional reserve institutions
• How free banking actually worked
• Why unrestricted banking activity tends to equilibrate with single digit reserve ratios
• How the Scottish free banking system was stable despite fractional reserve
• How Bitcoin improves upon gold in a free banking system
• The role of Proof of Reserve in a neo free banking system
• The bankruptcy of the Ayr Bank and what it tells us about the Scottish banking system
• Why 'free banking' in the US wasn't really free
• Bitcoin passes the Swiss Franc
• Where Bitcoin stacks up relative to all the major sovereign base monies

Follow Matthew on Twitter and check out the Monetary Base project. 

Sponsor notes:

Copper is transforming how institutional investors engage with digital assets by developing award-winning custody and next-gen trading infrastructure. Headquartered in London, the firm is scaling rapidly across Asia and North America to bring its suite of products to a wider pool of institutional investors. To learn more visit copper.co or reach out on Twitter, @CopperHQ

Aave is a decentralized, open source, and non-custodial protocol where users can deposits and borrow digital assets, and earn interest on those assets. Head over to aave.com to experience and learn more about DeFi.