Q: How big of a responsibility does business have to make the world more equitable?
I was telling a friend, the dean of a big seminary, about my new job at Ripple and telling him that we’re looking to lower the cost of moving money across borders. And he said, to my shock: “Oh, you’re working towards equity,” he said. “You’ll be improving the lives of people who are struggling.” And here I thought I was selling software to banks!
Every day, every person, every worker and yes, every business, must focus on making people’s lives better. And the people who need the most help deserve the most help. It’s a fundamental human responsibility.
2. What emerging technology can have the greatest positive impact on society?
Blockchain at its best lowers costs, improves efficiency, verifies identity, and democratizes responsibility. We still haven’t seen it at scale anywhere, but the results will be world changing.
3. What is the biggest issue that you worry is not getting enough attention?
Global power consumption in the mining of Bitcoin, Ether and others is staggering. Bitcoin’s annual carbon footprint is greater than 61,000 transatlantic flights. And that’s only going to get worse.