Welcome to Arry's AirDrop #04
This week the political and economic signals have created an exciting chorus of support for the world's eyes and ears to focus on.
I’ve summarized some of the big stories below, check them out, and if you have any questions, just hit ‘reply’, I’d love to chat more.
Curious what to expect from my Blockchains & Cryptos Fundamentals course?
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More Signs That Crypto Is Going Mainstream
VISA purchased the CryptoPunk 7610 NFT for 49.5 ETH or ~$140k US and published a white paper to help businesses understand how they can help to integrate and transact NFTs into their platforms.
El Salvador’s president, Nayib Bukele announced that the country’s official Bitcoin wallet (called Chico) will be available for download on September 7th. Users who download it will receive $30 in BTC during the setup process.
Microsoft recently won patent rights to build a distributed ledger (basically a blockchain) to allow its millions of users to create and manage crypto tokens.
PayPal will allow customers in the United Kingdom to access cryptocurrencies. U.K. residents will be able to buy, hold, and sell cryptocurrencies. This is PayPal’s first expansion of crypto services outside of the United States.
A new survey by Deloitte suggests that crypto could replace USD in half a decade. Financial services companies expect to heavily rely on blockchain in the very close future, according to the lead analyst, “The foundation of banking has been fundamentally outlived. Financial services industry players must redefine themselves and find innovative ways to create economic growth in the future of money.”
OnlyFans Debacle Exposes Highly Politicized Banking System
OnlyFans’ decision (now reversed) to ban porn reveals the arbitrary power of banks to delist products they don’t like.
The Department of Justice (DoJ), in conjunction with the Federal Deposit Insurance Corp. (FDIC), realized in 2012 they could exert pressure on politically disfavored industries while professing to eliminate fraud.
The ‘Operation Choke Point’ initiative was devised to threaten banks with expensive and reputation-damaging investigations and subpoenas if they failed to coerce payment processors servicing industries in question by cutting them off.
This approach was and remains legally questionable. Through Choke Point, the DoJ and FDIC essentially deputized banks and turned them into an enforcement arm of the government.
Summary: This story is not about porn as an industry, for better or worse. The real story here is how the mechanics of control work to manipulate businesses when governments and banks collaborate. OnlyFans should be a potent reminder: You simply never know when you’ll be on the receiving end of the stick.
Plug Into Our Community
The WTIA Cascadia Blockchain Council helps blockchain companies reach their full potential and serves as subject matter experts and a collective voice to better advocate for constructive public policy, educates key stakeholders and investors.
The Cascadia Blockchain Council Slack group is a place for all of the above to network, connect and share resources, and we are accepting new members (for free!)
New to crypto? Start with Bitcoin knowledge basics, I’ve put together a simple, straightforward guide on where to buy Bitcoin (BTC) here.
Check out Gradually Then Suddenly, an amazing series of essays to understand the context and history behind Bitcoin written by Parker Lewis.
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Blockchain is a game changer as a powerful alternative technology to what most businesses use today.
Cryptocurrencies and other kinds of digital tokens are fascinating, as we have seen their rise over the past couple of years. This meet up is all about authentically focusing our time on global impactful topics, not just crypto-fluffery.
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Arry is the Chair of the Cascadia Blockchain Council, a group supported by the Washington Technology Industry Association (WTIA), the largest US tech association representing technology companies from Oregon to British Columbia. She is also the co-organizer for the States' Assn for Blockchain and was one of the early pioneers that completed a $32m tokensale in an Initial Coin Offering (ICO) back in 2017. She founded the Cascadia Blockchain Council in 2018 and has been an avid educator, advocate, investor, and innovator in the space since 2016.