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AGILE BANKING
Rebooting our Financial Infrastructure
    Pelle Brændgaard @PelleB
I DONT NEED TO REMIND YOU...
BUT WE’RE IN DEEP SHIT!!!
BANKS ARE TOO BIG TO FAIL
WE’RE TO RELIANT ON THEM
TOO INTERMINGLED
THEY DON’T UNDERSTAND RISK
THEY DON’T EVEN UNDERSTAND
        THEMSELVES
MANY VERY LARGE BANKS HAVE NO
 CLUE OF THEIR OWN LIQUIDITY
ONE RISKY TRADE AND THEY’RE GONE
RISK
IS NOT A NUMBER
TRADERS LOVE RISK NUMBERS
RISK NUMBERS ARE CREATED USING
       MAGIC FORMULAS
REGULATORS LOVE RISK NUMBERS
THE ONLY PROBLEM IS
THE BLACK SWAN
FIRST IDENTIFIED BY NASSIM TALEB
THE IMPROBABLE WILL HAPPEN
THE CURRENT CRISIS COULD NOT BE
      SEEN IN THE NUMBERS
NUMBERS ARE GOOD FOR BLACK JACK
USELESS IN THE REAL WORLD
IN SHORT SHIT HAPPENS
ANY FIX MUST ACCEPT THIS
RISK CAN BE MANAGED
THROUGH LIMITS AND DIVERSITY
WHO IS GOING TO FIX IT?
THE BANKS?
TOO BIG TO FIX
THEY KNOW IT
IN OTHER WORDS THEY WANT
       PROTECTION
WHO WILL PROTECT THEM?
THE REGULATORS
LOTS OF WORDS
LOTS OF MONEY SPENT
REGULATORS ARE NOT INNOVATORS
THEIR SOLUTION?
RAISE THE BARRIERS OF ENTRY
THEY THINK IT MAKES THEIR JOB EASIER
THEY ALWAYS REGULATE AFTER THE
             FACT
WHAT WE NEED IS INNOVATION
SMALL STARTUPS AND ACTIVISTS
NO VESTED INTERESTS
CURRENTLY IT IS VERY HARD TO
   INNOVATE IN BANKING
REGULATORS PROTECT THE OLD,
      SCREW THE NEW
WE ARE STUCK WITH THE JOB
I HAVE A PLAN...
LETS GO BACK TO BASICS
BUT LETS REWIND A BIT FIRST
IN THE BEGINNING WAS THE BENCH
WELL MAYBE MORE LIKE THESE BENCHES
BANKERS KNEW THEIR CLIENTS
GENOA - THE HOME OF PESTO
ALSO THE THE FIRST COMPANY
THESE ALWAYS HAD A LIMITED PURPOSE
LIKE CONQUER AND TAX CHIOS
NOWADAYS COMPANIES ATTEMPT TO BE
       GENERAL PURPOSE
BLUE BOTTLE COFFEE HIPSTERS
JONATHAN’S COFFEE HOUSE HIPSTERS
PEOPLE BOUGHT AND SOLD SHARES
    OVER COFFEE AND GOSSIP
JOHN CASTAING STARTED TO KEEP A
        LIST OF TRADES
JONATHAN’S TODAY
THE LONDON STOCK EXCHANGE
ALL OUR FINANCIAL INSTRUMENTS
  CAME FROM THE GRASSROOTS
YET THERE WERE PROBLEMS
BUBBLES
TULIP MANIA
SOUTH SEA BUBBLE
MISSISSIPPI COMPANY
NOW LETS TALK ABOUT DOUG
DOUGLAS JACKSON AN ONCOLOGIST
   FROM MELBOURNE, FLORIDA
HE WAS AN IDEALIST AND CREATED
            E-GOLD
E-GOLD IS AN ECURRENCY BACKED BY
          REAL GOLD BARS
YOU CAN USE IT TO INVEST IN GOLD,
  MAKE AND ACCEPT PAYMENTS.
THEY CREATED AN EASY TO USE API
        BEFORE PAYPAL
THEY LET THEIR USERS AUDIT THEM
HOW MUCH GOLD IS IN THE SYSTEM?
WHERE IS IT LOCATED?
SERIAL NUMBERS OF INDIVIDUAL BARS
REAL TIME STATS
MAILING LISTS KEPT THEM HONEST
COMMUNITY CREATE TOOLS TO SCRAPE
     AND ANALYZE E-GOLD
E-GOLD REVENUE CALCULATOR
DOUG ACTED LIKE A BASTARD
STARTED SUING SEVERAL VERY NICE
            PEOPLE
THE MAILING LISTS WENT BERSERK
DOUG WAS NOT VERY POPULAR
ALTERNATIVE MAILING LISTS WERE SET
               UP
YET PEOPLE STILL USED E-GOLD
HATE THE GUY BUT TRUST THE GOLD
FEDS CAUGHT UP WITH DOUG
VERDICT?
CONSPIRACY TO COMMIT MONEY
        LAUNDERING
HE WAS NOT PERFORMING “KNOW
       YOUR CUSTOMER”
PEOPLE ARE STILL KIND OF USING
           E-GOLD
WHY THIS HISTORY?
IT STARTS WITH PEOPLE
IT STARTS SMALL
IT STARTS LIMITED
BAD STUFF HAPPENS
MY PROPOSAL
SIMPLIFY!!!
CREATE SIMPLE LIMITED BANKS/FUNDS
ONLY ALLOWED TO DO ONE THING
A FUND HAS ACCOUNTS SIGNIFYING
            VALUE
VALUE COULD BE ANYTHING
CASH, GOLD, STOCKS, BONDS, LOANS,
   INSURANCE, SERVICE CREDITS
ECURRENCY TO REPLACE CURRENT
         ACCOUNT
ECURRENCY IS A CASH MUTUAL FUND
NO FRACTIONAL RESERVE NO RISK
MAKE MONEY ON TRANSACTIONS OR
        SUBSCRIPTIONS
COULD BE A COOP
MUTUAL FUNDS FIT RIGHT IN
LOANS COULD BE HANDLED LIKE
    DANISH MORTGAGES
DANISH MORTGAGES ARE BONDS
  ISSUED BY HOUSE OWNERS
BORROWERS ISSUE BONDS INTO THE
        LOAN FUND
BORROWER BUYS BACK BOND TO REPAY
SMALL STARTUPS CAN INVENT NEW
           SERVICES
P2P LENDING
MICRO LENDING
COMMUNITY CURRENCIES
MICRO STOCK OFFERINGS
BE TRANSPARENT
REALTIME DATA FEEDS
ALLOW THIRD PARTIES TO DIG
ALLOW MASS AUDITING
PROBLEMS WILL BE FOUND
LIMIT
ONLY OFFER ONE TYPE OF SERVICE
LIMIT SIZE OF ACCOUNTS
LIMIT AMOUNT OF ACCOUNTS
NO IT DEPARTMENT
NO CUSTOMER SERVICE
NO ACCOUNTING
TRUSTED THIRD PARTIES
CREATE TRUST
THE OWNERS CAN’T MAKE UP NUMBERS
3 DIFFERENT SERVICE PROVIDERS
ALL PROCESS SAME TRANSACTION
DIFFERENCES CAN BE INSTANTLY
          FLAGGED
WHAT ABOUT REGULATORS?
AN OBSTACLE TO INNOVATION
BELIEF THAT BIG IS SAFE
HARD FOR SMALL INNOVATORS TO
          REGISTER
350,000 MINIMUM CAPITAL IN EU
BANKS NEED MUCH HIGHER
FORMULA OVER ARBITRARY LIMITS
RESERVE = CIRCULATION
10 ACCOUNTS *100 EURO
€1000 RESERVE
SIMPLE, SCALABLE, NO BARRIER TO
             ENTRY
TERRORISTS, DRUG DEALERS,
   TAX EVADERS, OH MY!
ARE YOU AIDING AND ABETTING EVIL
      MONEY LAUNDERERS
REGULATORS SAY
KNOW YOUR CUSTOMER
VERIFY WHO THEY ARE
WHERE THEY LIVE
HOW DO YOU CHECK ID ONLINE?
FAX/SCAN AND SUBMIT ID’S
A HUGE BARRIER TO ENTRY
DON’T END UP LIKE DOUG
THE SMALLER THE ACCOUNT
THE LESS YOU NEED TO KNOW
HOW DO I KNOW YOU ANYWAY?
YOUR NATIONAL NUMBER DOES NOT
       TELL ME ANYTHING.
IT IS MEANT TO PROTECT YOU FROM
           REGULATORS
USE SOCIAL NETWORKS
EXPERIMENT WITH PAGE RANK LIKE
         ALGORITHMS
WEBS OF TRUST
COULD TURN OUT BETTER THAN
       NATIONAL ID’S
I KNOW YOU!=CREDIT
COULD BOOTSTRAP ALTERNATIVE
       CREDIT RATING
WHAT ABOUT RISK?
ACCEPT IT
BUT LIMIT IT
PEOPLE WILL LOSE MONEY
IF AN ECURRENCY GOES BUST YOU
    CAN’T LOSE YOUR MONEY
GOVERNMENT BANK GUARANTEES ARE
     NO LONGER NECESSARY
BANK RUNS ARE NOT POSSIBLE
RISKY INVESTMENTS ONLY AFFECT
        DIRECT INVESTORS
HOW DO WE BUILD THIS?
OPEN WEB FRAMEWORKS
OPENID NOT ACCOUNT NUMBERS
OPENID IS A UNIVERSAL ID
IT REPLACES USERNAME/PASSWORD
ALREADY WIDESPREAD
NEED GUIDELINES FOR HIGH SECURITY
            OPEN ID’S
OAUTH A NEW WEB SECURITY
       STANDARD
IT LETS ALL YOUR APPLICATIONS TALK
             TOGETHER
NEW SIMPLE FINANCIAL
    STANDARDS
WIDELEDGER
SIMPLE FINANCIAL EXCHANGE FORMAT
IT’S CONTAINS ONLY VERY BASIC
  TRANSACTION INFORMATION
USES MICROFORMATS EMBEDDED IN A
        NORMAL WEB PAGE
MAKES IT EASY FOR YOU TO BRING YOUR
     FINANCIAL INFO TOGETHER
MAKES IT EASY TO CREATE FINANCIAL
             MASHUPS
OSS FINANCIAL SOFTWARE
LEDGER SOFTWARE
EXCHANGE SOFTWARE
HOSTING PROVIDERS
AUDITING SERVICES
BUT WHAT ABOUT THE
    REGULATORS?
THEY MEAN WELL BUT NEED PUSHING
CHANGE HAS TO COME FROM THE
        GRASSROOTS
BRAVE FINANCIAL REBELS
BETTER TO ASK FORGIVENESS...
LIMIT YOUR RISK AS A REBEL
THINK SMALL, THINK COMMUNITY
SMALL COMMUNITY CURRENCIES
COMMUNITY LENDING
PROJECTS WITH A PURPOSE
THE CHRISTIANIA OF FINANCE
FORCE REGULATORS TO THINK SMALL
ENGAGE THEM
SHOW THEM IT WORKS
AND IT MAKES THEIR JOB EASIER
THEN SCALE
LIMITED PURPOSE BANKING
A PROPOSAL BY KOTLIKOFF AND
         GOODMAN
SEEMS SIMILAR BUT WITHOUT
        GRASSROOTS
PROGRAMMERS, ENTREPRENEURS,
ACTIVISTS, LAWYERS, ACCOUNTANTS
WE NEED YOU
I WANT TO HEAR FROM ANYONE WITH
        AN INTEREST IN THIS
NEW GOOGLE GROUP “AGILE-BANKING”
ATTEND A BARCAMPBANK
PHOTO CREDITS

•   http://en.wikipedia.org/wiki/File:Trapezus.png

•   http://www.flickr.com/photos/michaelroper/1983104/

...
ABOUT ME


•   http://twitter.com/PelleB

•   pelle@stakeventures.com

•   http://stakeventures.com

•   http://agree2.com...
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Agile Banking

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Agile Banking

  1. 1. AGILE BANKING Rebooting our Financial Infrastructure Pelle Brændgaard @PelleB
  2. 2. I DONT NEED TO REMIND YOU...
  3. 3. BUT WE’RE IN DEEP SHIT!!!
  4. 4. BANKS ARE TOO BIG TO FAIL
  5. 5. WE’RE TO RELIANT ON THEM
  6. 6. TOO INTERMINGLED
  7. 7. THEY DON’T UNDERSTAND RISK
  8. 8. THEY DON’T EVEN UNDERSTAND THEMSELVES
  9. 9. MANY VERY LARGE BANKS HAVE NO CLUE OF THEIR OWN LIQUIDITY
  10. 10. ONE RISKY TRADE AND THEY’RE GONE
  11. 11. RISK
  12. 12. IS NOT A NUMBER
  13. 13. TRADERS LOVE RISK NUMBERS
  14. 14. RISK NUMBERS ARE CREATED USING MAGIC FORMULAS
  15. 15. REGULATORS LOVE RISK NUMBERS
  16. 16. THE ONLY PROBLEM IS
  17. 17. THE BLACK SWAN
  18. 18. FIRST IDENTIFIED BY NASSIM TALEB
  19. 19. THE IMPROBABLE WILL HAPPEN
  20. 20. THE CURRENT CRISIS COULD NOT BE SEEN IN THE NUMBERS
  21. 21. NUMBERS ARE GOOD FOR BLACK JACK
  22. 22. USELESS IN THE REAL WORLD
  23. 23. IN SHORT SHIT HAPPENS
  24. 24. ANY FIX MUST ACCEPT THIS
  25. 25. RISK CAN BE MANAGED
  26. 26. THROUGH LIMITS AND DIVERSITY
  27. 27. WHO IS GOING TO FIX IT?
  28. 28. THE BANKS?
  29. 29. TOO BIG TO FIX
  30. 30. THEY KNOW IT
  31. 31. IN OTHER WORDS THEY WANT PROTECTION
  32. 32. WHO WILL PROTECT THEM?
  33. 33. THE REGULATORS
  34. 34. LOTS OF WORDS
  35. 35. LOTS OF MONEY SPENT
  36. 36. REGULATORS ARE NOT INNOVATORS
  37. 37. THEIR SOLUTION?
  38. 38. RAISE THE BARRIERS OF ENTRY
  39. 39. THEY THINK IT MAKES THEIR JOB EASIER
  40. 40. THEY ALWAYS REGULATE AFTER THE FACT
  41. 41. WHAT WE NEED IS INNOVATION
  42. 42. SMALL STARTUPS AND ACTIVISTS
  43. 43. NO VESTED INTERESTS
  44. 44. CURRENTLY IT IS VERY HARD TO INNOVATE IN BANKING
  45. 45. REGULATORS PROTECT THE OLD, SCREW THE NEW
  46. 46. WE ARE STUCK WITH THE JOB
  47. 47. I HAVE A PLAN...
  48. 48. LETS GO BACK TO BASICS
  49. 49. BUT LETS REWIND A BIT FIRST
  50. 50. IN THE BEGINNING WAS THE BENCH
  51. 51. WELL MAYBE MORE LIKE THESE BENCHES
  52. 52. BANKERS KNEW THEIR CLIENTS
  53. 53. GENOA - THE HOME OF PESTO
  54. 54. ALSO THE THE FIRST COMPANY
  55. 55. THESE ALWAYS HAD A LIMITED PURPOSE
  56. 56. LIKE CONQUER AND TAX CHIOS
  57. 57. NOWADAYS COMPANIES ATTEMPT TO BE GENERAL PURPOSE
  58. 58. BLUE BOTTLE COFFEE HIPSTERS
  59. 59. JONATHAN’S COFFEE HOUSE HIPSTERS
  60. 60. PEOPLE BOUGHT AND SOLD SHARES OVER COFFEE AND GOSSIP
  61. 61. JOHN CASTAING STARTED TO KEEP A LIST OF TRADES
  62. 62. JONATHAN’S TODAY
  63. 63. THE LONDON STOCK EXCHANGE
  64. 64. ALL OUR FINANCIAL INSTRUMENTS CAME FROM THE GRASSROOTS
  65. 65. YET THERE WERE PROBLEMS
  66. 66. BUBBLES
  67. 67. TULIP MANIA
  68. 68. SOUTH SEA BUBBLE
  69. 69. MISSISSIPPI COMPANY
  70. 70. NOW LETS TALK ABOUT DOUG
  71. 71. DOUGLAS JACKSON AN ONCOLOGIST FROM MELBOURNE, FLORIDA
  72. 72. HE WAS AN IDEALIST AND CREATED E-GOLD
  73. 73. E-GOLD IS AN ECURRENCY BACKED BY REAL GOLD BARS
  74. 74. YOU CAN USE IT TO INVEST IN GOLD, MAKE AND ACCEPT PAYMENTS.
  75. 75. THEY CREATED AN EASY TO USE API BEFORE PAYPAL
  76. 76. THEY LET THEIR USERS AUDIT THEM
  77. 77. HOW MUCH GOLD IS IN THE SYSTEM?
  78. 78. WHERE IS IT LOCATED?
  79. 79. SERIAL NUMBERS OF INDIVIDUAL BARS
  80. 80. REAL TIME STATS
  81. 81. MAILING LISTS KEPT THEM HONEST
  82. 82. COMMUNITY CREATE TOOLS TO SCRAPE AND ANALYZE E-GOLD
  83. 83. E-GOLD REVENUE CALCULATOR
  84. 84. DOUG ACTED LIKE A BASTARD
  85. 85. STARTED SUING SEVERAL VERY NICE PEOPLE
  86. 86. THE MAILING LISTS WENT BERSERK
  87. 87. DOUG WAS NOT VERY POPULAR
  88. 88. ALTERNATIVE MAILING LISTS WERE SET UP
  89. 89. YET PEOPLE STILL USED E-GOLD
  90. 90. HATE THE GUY BUT TRUST THE GOLD
  91. 91. FEDS CAUGHT UP WITH DOUG
  92. 92. VERDICT?
  93. 93. CONSPIRACY TO COMMIT MONEY LAUNDERING
  94. 94. HE WAS NOT PERFORMING “KNOW YOUR CUSTOMER”
  95. 95. PEOPLE ARE STILL KIND OF USING E-GOLD
  96. 96. WHY THIS HISTORY?
  97. 97. IT STARTS WITH PEOPLE
  98. 98. IT STARTS SMALL
  99. 99. IT STARTS LIMITED
  100. 100. BAD STUFF HAPPENS
  101. 101. MY PROPOSAL
  102. 102. SIMPLIFY!!!
  103. 103. CREATE SIMPLE LIMITED BANKS/FUNDS
  104. 104. ONLY ALLOWED TO DO ONE THING
  105. 105. A FUND HAS ACCOUNTS SIGNIFYING VALUE
  106. 106. VALUE COULD BE ANYTHING
  107. 107. CASH, GOLD, STOCKS, BONDS, LOANS, INSURANCE, SERVICE CREDITS
  108. 108. ECURRENCY TO REPLACE CURRENT ACCOUNT
  109. 109. ECURRENCY IS A CASH MUTUAL FUND
  110. 110. NO FRACTIONAL RESERVE NO RISK
  111. 111. MAKE MONEY ON TRANSACTIONS OR SUBSCRIPTIONS
  112. 112. COULD BE A COOP
  113. 113. MUTUAL FUNDS FIT RIGHT IN
  114. 114. LOANS COULD BE HANDLED LIKE DANISH MORTGAGES
  115. 115. DANISH MORTGAGES ARE BONDS ISSUED BY HOUSE OWNERS
  116. 116. BORROWERS ISSUE BONDS INTO THE LOAN FUND
  117. 117. BORROWER BUYS BACK BOND TO REPAY
  118. 118. SMALL STARTUPS CAN INVENT NEW SERVICES
  119. 119. P2P LENDING
  120. 120. MICRO LENDING
  121. 121. COMMUNITY CURRENCIES
  122. 122. MICRO STOCK OFFERINGS
  123. 123. BE TRANSPARENT
  124. 124. REALTIME DATA FEEDS
  125. 125. ALLOW THIRD PARTIES TO DIG
  126. 126. ALLOW MASS AUDITING
  127. 127. PROBLEMS WILL BE FOUND
  128. 128. LIMIT
  129. 129. ONLY OFFER ONE TYPE OF SERVICE
  130. 130. LIMIT SIZE OF ACCOUNTS
  131. 131. LIMIT AMOUNT OF ACCOUNTS
  132. 132. NO IT DEPARTMENT
  133. 133. NO CUSTOMER SERVICE
  134. 134. NO ACCOUNTING
  135. 135. TRUSTED THIRD PARTIES
  136. 136. CREATE TRUST
  137. 137. THE OWNERS CAN’T MAKE UP NUMBERS
  138. 138. 3 DIFFERENT SERVICE PROVIDERS
  139. 139. ALL PROCESS SAME TRANSACTION
  140. 140. DIFFERENCES CAN BE INSTANTLY FLAGGED
  141. 141. WHAT ABOUT REGULATORS?
  142. 142. AN OBSTACLE TO INNOVATION
  143. 143. BELIEF THAT BIG IS SAFE
  144. 144. HARD FOR SMALL INNOVATORS TO REGISTER
  145. 145. 350,000 MINIMUM CAPITAL IN EU
  146. 146. BANKS NEED MUCH HIGHER
  147. 147. FORMULA OVER ARBITRARY LIMITS
  148. 148. RESERVE = CIRCULATION
  149. 149. 10 ACCOUNTS *100 EURO
  150. 150. €1000 RESERVE
  151. 151. SIMPLE, SCALABLE, NO BARRIER TO ENTRY
  152. 152. TERRORISTS, DRUG DEALERS, TAX EVADERS, OH MY!
  153. 153. ARE YOU AIDING AND ABETTING EVIL MONEY LAUNDERERS
  154. 154. REGULATORS SAY
  155. 155. KNOW YOUR CUSTOMER
  156. 156. VERIFY WHO THEY ARE
  157. 157. WHERE THEY LIVE
  158. 158. HOW DO YOU CHECK ID ONLINE?
  159. 159. FAX/SCAN AND SUBMIT ID’S
  160. 160. A HUGE BARRIER TO ENTRY
  161. 161. DON’T END UP LIKE DOUG
  162. 162. THE SMALLER THE ACCOUNT
  163. 163. THE LESS YOU NEED TO KNOW
  164. 164. HOW DO I KNOW YOU ANYWAY?
  165. 165. YOUR NATIONAL NUMBER DOES NOT TELL ME ANYTHING.
  166. 166. IT IS MEANT TO PROTECT YOU FROM REGULATORS
  167. 167. USE SOCIAL NETWORKS
  168. 168. EXPERIMENT WITH PAGE RANK LIKE ALGORITHMS
  169. 169. WEBS OF TRUST
  170. 170. COULD TURN OUT BETTER THAN NATIONAL ID’S
  171. 171. I KNOW YOU!=CREDIT
  172. 172. COULD BOOTSTRAP ALTERNATIVE CREDIT RATING
  173. 173. WHAT ABOUT RISK?
  174. 174. ACCEPT IT
  175. 175. BUT LIMIT IT
  176. 176. PEOPLE WILL LOSE MONEY
  177. 177. IF AN ECURRENCY GOES BUST YOU CAN’T LOSE YOUR MONEY
  178. 178. GOVERNMENT BANK GUARANTEES ARE NO LONGER NECESSARY
  179. 179. BANK RUNS ARE NOT POSSIBLE
  180. 180. RISKY INVESTMENTS ONLY AFFECT DIRECT INVESTORS
  181. 181. HOW DO WE BUILD THIS?
  182. 182. OPEN WEB FRAMEWORKS
  183. 183. OPENID NOT ACCOUNT NUMBERS
  184. 184. OPENID IS A UNIVERSAL ID
  185. 185. IT REPLACES USERNAME/PASSWORD
  186. 186. ALREADY WIDESPREAD
  187. 187. NEED GUIDELINES FOR HIGH SECURITY OPEN ID’S
  188. 188. OAUTH A NEW WEB SECURITY STANDARD
  189. 189. IT LETS ALL YOUR APPLICATIONS TALK TOGETHER
  190. 190. NEW SIMPLE FINANCIAL STANDARDS
  191. 191. WIDELEDGER
  192. 192. SIMPLE FINANCIAL EXCHANGE FORMAT
  193. 193. IT’S CONTAINS ONLY VERY BASIC TRANSACTION INFORMATION
  194. 194. USES MICROFORMATS EMBEDDED IN A NORMAL WEB PAGE
  195. 195. MAKES IT EASY FOR YOU TO BRING YOUR FINANCIAL INFO TOGETHER
  196. 196. MAKES IT EASY TO CREATE FINANCIAL MASHUPS
  197. 197. OSS FINANCIAL SOFTWARE
  198. 198. LEDGER SOFTWARE
  199. 199. EXCHANGE SOFTWARE
  200. 200. HOSTING PROVIDERS
  201. 201. AUDITING SERVICES
  202. 202. BUT WHAT ABOUT THE REGULATORS?
  203. 203. THEY MEAN WELL BUT NEED PUSHING
  204. 204. CHANGE HAS TO COME FROM THE GRASSROOTS
  205. 205. BRAVE FINANCIAL REBELS
  206. 206. BETTER TO ASK FORGIVENESS...
  207. 207. LIMIT YOUR RISK AS A REBEL
  208. 208. THINK SMALL, THINK COMMUNITY
  209. 209. SMALL COMMUNITY CURRENCIES
  210. 210. COMMUNITY LENDING
  211. 211. PROJECTS WITH A PURPOSE
  212. 212. THE CHRISTIANIA OF FINANCE
  213. 213. FORCE REGULATORS TO THINK SMALL
  214. 214. ENGAGE THEM
  215. 215. SHOW THEM IT WORKS
  216. 216. AND IT MAKES THEIR JOB EASIER
  217. 217. THEN SCALE
  218. 218. LIMITED PURPOSE BANKING A PROPOSAL BY KOTLIKOFF AND GOODMAN
  219. 219. SEEMS SIMILAR BUT WITHOUT GRASSROOTS
  220. 220. PROGRAMMERS, ENTREPRENEURS, ACTIVISTS, LAWYERS, ACCOUNTANTS
  221. 221. WE NEED YOU
  222. 222. I WANT TO HEAR FROM ANYONE WITH AN INTEREST IN THIS
  223. 223. NEW GOOGLE GROUP “AGILE-BANKING”
  224. 224. ATTEND A BARCAMPBANK
  225. 225. PHOTO CREDITS • http://en.wikipedia.org/wiki/File:Trapezus.png • http://www.flickr.com/photos/michaelroper/1983104/ • http://www.flickr.com/photos/yannic/3338219365/ • http://www.flickr.com/photos/clankennedy/2440414620/ • http://www.flickr.com/photos/35822266@N03/3318376935/ • http://www.flickr.com/photos/danube/19409384/ • Wired, City of London - ahem you’re CC right?
  226. 226. ABOUT ME • http://twitter.com/PelleB • pelle@stakeventures.com • http://stakeventures.com • http://agree2.com Agree2 my startup - Reach Agreement without Paper, Pen and FedEx

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