Welcome to Arry's Airdrop #07!
One key theme I keep hearing over and over again, especially this past week is the need for more educational content. There's a lot of amazing content out there (along with a lot of bad misinformation, too). What I aim to do a better job of, is to not just find these great resources, but to also SHARE with others all of the knowledge that I am learning every, single day.
That's why I'm doing all that I can to help share the knowledge that I've been lucky enough to have acquired all these years, with you. I'm sharing the highlights with you. I hope you'll pass it on, and share with others too. That's how we can build a better future, together.
Evergrande panicked the market today.
Today, the China Evergrande news crisis sent shockwaves throughout both the crypto and stock markets - it was a bloody Monday. Some would say perhaps quite a few cryptos and equities were on sale. What's going on with the Evergrande story?
China Evergrande Group is the world’s most indebted property real estate developer, whose financial woes have quickly become everyone's business. They have monumental debt that they cannot repay to the order of over $300 billion. Evergrande is also on the hook for 1.6 million apartments and tens of thousands owed to their own employees. Evergrande is a grand catastrophe. Failure is right round the corner whether it be through a complete restructuring or total liquidation of the company. And this one company, the China Evergrande Group may become today's Lehman Brothers cascading into causing a global credit crunch, and demolishing any confidence in Chinese investments. In the end, it may leave us with even greater global catastrophic effects.
Remember the Lehman Brothers? The Lehman bankruptcy filing was the largest in U.S. history. It is believed that their bankruptcy was the first critical domino to fall that led to global markets crashing in the global financial crisis of 2007-2008.
Why you should care about the significance of Evergrande: Couple big reasons why you should care - here are a few.
Let's look in contrast at Bitcoin:
Bitcoin is a bearer instrument held by HODLers and made up with cold-hearted code. It's a protocol for money. Yes, in theory, Bitcoin companies could also get into financial trouble if they too over-leverage or mishandle their finances (like Evergrande, and the banks). Bitcoin's uptime as a network and protocol is one of the best, if not THE BEST uptime in history.
There's absolutely nothing like it as an asset class, a network, a protocol, and technology. Bitcoin is a huge contrast to Evergrande and the Lehman Brothers stories of our world.
I've been immersed in the blockchain and crypto space for about 5 years now, and I still feel like I'm just a beginner in so many ways. I learn every day from the content creators that share regularly. I learn from talking to others in the meetups, AMA recordings for the podcast, and even talking to my husband who's in the space.
If you aren't already, there are a few human gems of knowledge I've discovered recently, that are very worth following:
Whether you’re into blockchain for technological innovation or looking to trade crypto, it all starts with the fundamentals. Waitlist has already been filling up quickly for my next "Blockchains & Cryptos Fundamentals" course. Get on the waitlist and get in-the-know. Standby, I'll be releasing a THREE-DAY version of this course for those that need an even more synthesized course.
Join my weekly AMA every Friday, 12-1pm PST
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. This meetup is all about focusing our time on global impactful topics, not just crypto-fluffery.
Join us if you want to get into real authentic discussions about what really matters in the blockchain space and have some actual FUN while we're at it, via the Blockchain Underground.
See you next week!
– Arry (@ArryinSeattle)
P.S. Like this post? Get it weekly in your inbox by signing up to get the email here: eepurl.com/hD2tND
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.