That wasn't Saif's point. Saif envisions a world where you're exchanging your bitcoin for equity.
IPOs are not borrowing. It's an initial public offering meaning you pay money for equity in the company.
Discussion
That is exactly what i say. Saif believes we will be exchanging bitcoin for equity through things like IPOs (equity). That is literally my last line.
And IPOs are a form of borrowing/lending. where the objective of the borrower is to get cash from someone with a promise of future returns.
As for borrowing through banks. Saif believes that will slowly stop, at least at the government level. and private lending might happen for free (he even argues for negative yield).
Stock isn't borrowing. If you buy stock, you are buying ownership of the company. Future returns are never promised. Not even future dividends are promised - the board of directors, elected by the shareholders, which would be you if you bought stock, can change the dividend at any time. The one thing I do criticize is the preferred vs common stock distinction - preferred is much more expensive and basically impossible for normal people to buy and issuance of new shares doesn't dilute the preferred stock. That's obviously predatory and should be illegal.