After a devastating earthquake in 2010, the world collectively pledged about $13B in aid to Haiti. That’s enough to give every Haitian a 50% pay increase for three years (on average). For far less than $13B, we could implement a basic income in Haiti that would lift millions of people out of poverty. This post is concerned with exploring ways to fund a UBI that we could distribute via a cryptocurrency. I compare inflation funding to transaction fees. I also provide basic projections for an inflation-funded crypto UBI in the US and Haiti. Even though inflation may also impose a “cost” on holders of the currency (through a loss in purchasing power), my analysis led me to conclude that it would be better to fund a crypto UBI through inflation. … More The Cryptoeconomics of Funding a Universal Basic Income
In the cryptoeconomy, getting clobbered by competition can actually make you rich. The best initial coin offering (ICO) white papers describe business models that are designed to be disrupted. Unfortunately, way too many people who write ICO white papers don’t understand that. … More Disrupt me, please.
Entrepreneurs see initial coin offerings (ICOs) as an easy way to quickly raise a lot of money with no strings attached. Some ICO investors’ greed has blinded them to the apparent risks. However, ICOs are an important new fundraising innovation that is appropriate for endeavors where the objective is to create value through decentralization. Although most ICO-funded projects will fail, the ones that don’t will have a more significant impact on our lives than the Web. Governments, particularly in the United States, have been slow to act. When they do, some entrepreneurs will find themselves in trouble, and many ICO investors will have already lost money. For important ICO-funded projects to flourish, we need ground rules. The Simple Agreement for Future Token Sales (SAFT) is the most significant industry initiative so far that tries to define those rules. … More WANTED: Rules for Initial Coin Offerings
I gave a blockchain presentation to my meetup group, Western Massachusetts All Things Blockchain. It’s embedded in this post. You can also see it on Slideshare. Please feel free to download the following files: Php sample code that demonstrates POW concepts; Microsoft PowerPoint XML Presentation If you use any of my material, please give me an attribution. Thanks for having a look. … More Presentation: Intro to Blockchain – And, by the way, what the heck is proof of work?
I took the MIT Fintech Certificate Course: Future Commerce. Take this class if you want good feedback on writing a fintech business plan, would like to add “MIT” to your LinkedIn profile, and if you, or your employer, have $2,600 to spare. Because it’s completely online, you can take this 12-week class from anywhere while working a full-time job. You should expect a workload that’s a little more than a typical college course. I learned something completely separate from the course’s subject matter: Online learning can and will play an indispensable role in education. … More My Online Learning Experience: Back to School & Into the Future
Andreas Antonopoulos is a heck of a smart cookie, a great speaker, and one of the world’s leading bitcoin experts. The eleven chapters that make up his book, The Internet of Money, are the transcripts of selected presentations Andreas gave over the past few years. The publisher edited the transcripts to improve readability and to correct inadvertent errors. … More “The Internet of Money” Will Take You On a Tour of Important Bitcoin Topics
Digital Gold tells the story of Bitcoin from Satoshi Nakamoto’s 9-page 2008 white paper through 2015. It’s fun to read. The characters in this true story are the ideologues, outlaws, millionaires, entrepreneurs, power brokers, geeks and a few oddballs who made Bitcoin the first viable, global and digital currency. Nathaniel Popper, a New York Times columnist, wrote Digital Gold. It was difficult for me to put the book down. … More “Digital Gold” Tells the Story of Bitcoin from Outlaws and Anarchists to Wall Street and Winklevoss