ABOUT THIS EPISODE
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
Join our Anti-PR newsletter where we’re keeping a watchful and clever eye on PR trends, PR fails, and interesting news in tech so you don't have to. You're welcome.
Want PR that actually matters? Get 30 minutes of expert advice in a fast-paced, zero-nonsense session from Karla Jo Helms, a veteran Crisis PR and Anti-PR Strategist who knows how to tell your story in the best possible light and get the exposure you need to disrupt your industry. Click here to book your call: https://info.jotopr.com/free-anti-pr-eval
Ways to connect with Scott Shay:
LinkedIn: http://www.linkedin.com/in/scott-shay
Company Website: https://n3xt.io
How to get more Disruption/Interruption:
Amazon Music - https://music.amazon.com/podcasts/eccda84d-4d5b-4c52-ba54-7fd8af3cbe87/disruption-interruption
Apple Podcast - https://podcasts.apple.com/us/podcast/disruption-interruption/id1581985755
Spotify - https://open.spotify.com/show/6yGSwcSp8J354awJkCmJlD
YouTube: https://www.youtube.com/results?search_query=disruption+%2F+interuuption
See omnystudio.com/listener for privacy information.
