Holy cow, what a whirlwind! Here are some amazing happenings in the bitcoin/blockchain space since I re-engaged 8 weeks ago following my post-Wall Street garden leave:
Caitlin at the Eccles Building!?
Silicon Valley meets the Fed…in Vans!
(Here’s just one example: four U.S. national banks have true exposure from derivatives that exceeds their risk-based capital—just from derivatives alone (see OCC table below). No one knows how much collateral has been double-counted in these netted numbers, which means the real exposure is almost certainly higher. Translation: depositors and/or taxpayers are at risk here. Blockchains would enable regulators to track all of this in real-time—but if the industry adopts blockchains that store such critical data off the chain, you will have missed your opportunity to harness this powerful tool!) Open offer to U.S. bank regulators whom I haven’t yet met—let’s engage on this topic!
A lot of big things have happened over the past 8 weeks that I applaud but in which I haven’t been directly involved. The DAO launched with more than $150 million of crowdfunding—it’s the first-ever decentralized autonomous organization, which means it’s controlled directly by its stakeholders rather than a management team/board of directors. Plus, a highly accessible book about blockchains, called “Blockchain Revolution,” was released. Read it if you’re curious, but beware—you might catch the blockchain bug!
“I’m working harder than I’ve ever worked in my life,” one CEO of a blockchain start-up said to another CEO and me two weeks ago.
Bitcoin/blockchain, ex-Wyoming Blockchain Task Force, 22-year Wall Street veteran.
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