https://bitcointv.com/videos/watch/e0cade0a-1630-4ba3-90b3-01629bc0b0e8 SHOW NOTES: https://www.whatbitcoindid.com/podcast/fedimint-the-future-of-bitcoin-custody Obi Nwosu is a co-founder of Fedimint and a board member for Jack Dorsey’s and Jay-Z’s ₿trust. In this interview, we discuss how Fedimint builds upon various innovations to create community Bitcoin banks, with the aim of fully realising Bitcoin’s potential to bank the unbanked. TIMESTAMPS: 00:00:00 Introduction 00:06:19 The third pillar of the Bitcoin open-source ecosystem 00:17:55 Fedimint’s antecedents and evolution 00:25:39 Setting up a Fedimint 00:34:01 Using a Fedimint 00:56:51 Regulations and security risk associated with Fedimints 01:10:29 The spectrum of trust: exchanges, Fedimints and self custody 01:31:33 Privacy implications from using Fedimints 01:36:20 Growing the Fedimint business WHERE TO FIND THE SHOW: → My website: https://www.whatbitcoindid.com/podcast/ → iTunes: https://apple.co/2OOlzVV → Spotify: https://spoti.fi/2ygc4W1 → Stitcher: https://bit.ly/2IQO8fX → SoundCloud: https://bit.ly/2CGSVQR → YouTube: https://bit.ly/3nyi9Ez → TuneIn: https://bit.ly/2ywystr LISTEN TO OLD EPISODES: → By guest: https://www.whatbitcoindid.com/guests/ → By topic: https://www.whatbitcoindid.com/topics/ → Transcriptions: https://www.whatbitcoindid.com/transcriptions/ SUPPORT THE SHOW: → https://www.whatbitcoindid.com/sponsorship/ → Become a Patron: https://www.patreon.com/whatbitcoindid/ → Subscribe on iTunes → Leave a review on iTunes → Share the show out with your friends and family on social media → Drop me a line on hello@whatbitcoindid.com WHERE TO FOLLOW ME: → Twitter: https://twitter.com/whatbitcoindid/ → Medium: https://medium.com/@whatbitcoindid/ → Instagram: http://instagram.com/whatbitcoindid/ → Facebook: https://www.facebook.com/whatbitcoindid/ → YouTube: https://www.youtube.com/whatbitcoindidpodcast → Website: https://www.whatbitcoindid.com/ → Email list: https://www.whatbitcoindid.com/subscribe/ LEARN ABOUT BITCOIN: → Step by Step Guide: https://www.whatbitcoindid.com/beginners-guide → Training: https://www.whatbitcoindid.com/training/ → Resources: https://www.whatbitcoindid.com/resources/ #Bitcoin #Finance #Economics “Most of the solutions that I’ve seen around custody take us from A to B to C, so they’re better custody, they improve upon where we are. But what we did is look at what does the world look like when everybody’s using Bitcoin, when there are billions of people using Bitcoin.” — Obi Nwosu Obi Nwosu is a co-founder of Fedimint and a board member for Jack Dorsey’s and Jay-Z’s ₿trust. In this interview, we discuss how Fedimint builds upon various innovations to create community Bitcoin banks, with the aim of fully realising Bitcoin’s potential to bank the unbanked. In 2018, Bitcoin Magazine asked Andreas Antonopoulos to reflect on 10 years of Bitcoin. He remarked that not everybody needs Bitcoin; “the real impact of this technology is on the other 6 billion: the unbanked, the underbanked, the politically oppressed.” Whilst Bitcoin has the utility to help those living outside of the financial system, in its current form it still lacks the functionality and scalability to adopt the majority of people who, as Andreas stated, really need it. Bitcoin has multiple constraints, but a principal issue is expecting the unbanked to be able to self-custody. The answer to this problem lay in work undertaken by one of the original cypherpunks. In 1989 David Chaum created Digicash. Despite the venture eventually failing, decades later it helped pave the way for Bitcoin, and, now it is the basis for Fedimint. Chaum’s innovation was to create blind mints: digital banks where communities can deposit and utilise digital dollars, and where the custodians have no access to any of the user data. But it was a chance meeting between Obi Nwosu and Eric Sirion at a hackers congress in Prague last year that dusted off Chaum’s work and give it new life, with the aim of opening up Bitcoin to the masses. As a result, Fedimint was born in 2021. It attracted the sponsorship of Blockstream. Fedimint operates outside of the Bitcoin blockchain, and the idea is that the custody will be managed by trusted members of a community. Custodial risk is reduced through the ability to have such mints federated, where the operation operates as a multi-sig. Obi believes that after the provision of decentralised censorship-resistant money and payments, Fedimint is the third pillar of Bitcoin. It offers the real opportunity to scale Bitcoin into a global currency. Wed, 11 Nov 2026 11:56:17 GMT https://validator.w3.org/feed/docs/rss2.html PeerTube - https://bitcointv.com https://bitcointv.com/client/assets/images/icons/icon-1500x1500.png https://bitcointv.com/videos/watch/e0cade0a-1630-4ba3-90b3-01629bc0b0e8 All rights reserved, unless otherwise specified in the terms specified at https://bitcointv.com/about and potential licenses granted by each content's rightholder.