In his talk about global currency, Charles Ehredt discusses loyalty points and revamping the financial services industry. The speaker shares several shocking statistics surrounding problems in financial services, such as immigrants paid over $45 billion last year to banks in Western Union to send $600 billion back to their families. While some may afford to lose out in such a significant percentage, this practice is particularly painful to individuals and small businesses.
The talk about global currency claims all rules of asset ownership are being disrupted by new sharing-based business models. The speaker believes digital money for everyone is the future. He describes a new concept that would change the way people view digital currency. This involves converting loyalty points so that people can regain control over the costs of financial services.