SELLEST OSAST
Scott Shay, founder of N3XT, joins Disruption/Interruption to explain how traditional fractional reserve banking puts depositors' money at risk by lending it out while telling customers their funds are safe and available. He traces the systemic failures of this model from the 2008 financial crisis to government pressure campaigns like Choke Point, arguing that businesses unknowingly carry hidden counterparty risk every day. Shay presents N3XT as the first full reserve bank in the United States, where every deposited dollar is held in short-term Treasuries and available to account holders at all times. The result is a bank that enables immutable, real-time settlement for B2B payments, eliminating the delays and risks of legacy banking rails.
Key Takeaways:
- 3:56 — What is fractional banking and why does Scott Shay call it a "noble lie"?
- 5:00 — When does the hidden risk of fractional banking become visible?
- 11:14 — How does N3XT's full reserve model eliminate risk for business depositors?
- 18:20 – Who benefits most from immutable, real-time settlement?
Quote of the Show (22:28):
"Money should work for the buyer and the seller, not just for the bank." — Scott Shay
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Ways to connect with Scott Shay:
LinkedIn: http://www.linkedin.com/in/scott-shay
Company Website: https://n3xt.io
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