3-2-1 - Friday July 23, 2021
3 - Inspiring crypto/blockchain quotes
“Blockchain is moving beyond cryptocurrency, and it's worth paying attention - especially since successful prototypes show that blockchain, also known as distributed ledger technology, will be transformative.”
“Blockchain technology isn't just a more efficient way to settle securities. It will fundamentally change market structures, and maybe even the architecture of the Internet itself.”
Abigail Johnson, CEO, Fidelity Investments
“Blockchain technology has such a wide range of transformational use cases, from recreating the plumbing of Wall Street to creating financial sovereignty in the farthest regions of the world.”
Perianne Boring, Founder & President, Chamber of Digital Commerce
2 - Reflections from this week’s blog posts
How many people do you know that like the insurance industry? Probably none, right? In researching Etherisc, a decentralized insurance provider, for my recent blog post, the thought came to mind that the concept of decentralized insurance could revolutionize the insurance industry, one that is well known for being bloated, inefficient, and unfair. Etherisc’s project, by using smart contracts to automate the payout process, helps eliminate these three issues in one fell swoop, and could completely disrupt an industry with a market cap well in the trillions. Here’s to hoping this becomes a reality.
Building off my first reflection, a theme that consistently came to mind this week was the potential of blockchain to “cut out the middle man”. Whether it’s cutting out the pesky insurance agent through a decentralized insurance provider or cutting out the charitable donations platform that charges a double-digit fee, blockchain can play a transformative role in cutting out the middle man and creating a more efficient, transparent, and fair world.
1 - Quality educational resource
The Ledger Academy, a relatively new initiative by Ledger, one of the leading producers of cold (hardware) wallets, offers some great articles for beginners in the crypto space. If you are new to the space and looking to learn about the basics of cryptocurrency, this is a great place to start.
