Analysts have been suggesting use cases since bitcoin’s meteoric rise a couple years ago, but we are only just now starting to see some of those use cases implemented. Meanwhile experts continue to look years in the future in an attempt to predict where the technology will be used next.
Canaccord Genuity analyst Michael Graham attended the Money 20/20 conference this week to learn more about cryptoassets and blockchain tech.
Among the panels he covered in his report on the conference were two focusing on the future of the technology. Experts shared their predictions for how the blockchain will be used more than 10 years from now and also about what they think the next phase for cryptoassets will be.
Blockchain tech in 2030
Graham feels the panel about the future of blockchain was the “most contentious” panel on the technology. BTCC Co-founder and CEO Bobby Lee faced off with IBM Blockchain Leader Dave Maddox, Juno Consultant Jill Carlson and Bloq Chairman and Co-founder Matthew Roszak. Each expert had their own view of what blockchain will look like in 2030.
For example, Lee said he hasn’t yet seen any use cases for blockchain beyond cryptocurrencies. He sees major limitations for blockchain that’s “truly unique and differentiated from traditional databases.” A true blockchain requires some information to be publicly verifiable.
Maddox disagreed with Lee, saying that IBM has already successfully implemented its blockchain strategy with more than 500 engagements and about 25 others in production. He mentioned one as a food trust network for Walmart, Carrefour and others in the food industry.
Carlson pointed out that confusion about the technology continues in both blockchain and cryptoassets. Roszak focused on the variety of tokens, which he expects to increase dramatically in the coming years as stablecoins, asset-backed tokens and many other types gain traction.
Blockchain tech on Wall Street
Graham also highlighted a panel which discussed using blockchain in the global finance industry. We have already seen a few implementations in this area, but more is probably coming down the pike.
For example, Jennifer Peve of the Depository Trust and Clearing Corporation said they are considering how blockchain tech can change the way transactions are carried out. She said they’re also discussing ways distributed ledger technology is “uniquely qualified to solve pain points with the existing system,” Graham explained.
As far as specifics, Peve suggested that distributed ledgers will one day replace the current payment infrastructure. She added that attempts to place the blockchain on top of the current infrastructure haven’t worked and instead have resulted in added expenses.
Dave Morehead of Pantera Capital also pointed out that blockchain could reduce the fees associated with transactions, especially in cross-border payments.
Meanwhile the technology could increase the number of transactions completed, thus improving the experience of users.
I was looking around Google for an old article on tax strategies and this five-year old video of myself happened to pop up.
I’m interviewing a tax expert about how real estate investors avoid paying taxesin perpetuity—AND how everyday citizens can do the same thing.
(Real estate—our TEMPLE I and TEMPLE II projects included—has a number of tax benefits savvy investors have capitalized on for years, including Opportunity Zone breaks and 10-year tax abatements.)
There’s the 1031 exchange, of course, which I’ve shared with you guys before.
Just to refresh your memory, the 1031 Exchange allows you to roll over gains from your last project into a new property TAX FREE—as long as said property is worth the same or more.
But there’s ANOTHER TAX LOOPHOLE that can take your portfolio to an entirely new level by splitting your capital gains into MULTIPLE properties.
PS: In our next update, I’m going to break down how real estate moguls get paid from their properties…tax free. 👀 PPS: If you want to learn how to implement generational wealth strategies like this one, you can join our NYCE wealth academy (TRIBE U) here.
If there’s anything the pandemic taught us, it’s that the paradigm of “office” and “workspace” has been shaken to its CORE.
Universities are teaching via Zoom, court dates are done virtually, FULLY REMOTE businesses are valued at $1B+, and legitimate Inc. 5000 startups are run from…wherever. 📲
This is my office for the day…
I am actually running our business from the beach, typing this from here.
It’s 4:28 pm CET, which means it’s 10:28 am EST and I am CRUSHING my to-do list.
(And the team will continue to crush it while I’m asleep. That’s the 🗝)
Having team members in all the main time zones gives us a 24-hour work cycle vs. 9-5/eight-hour on-the-clock performance.
This means we get 3x the productivity of a similar company. 🔥
Let me repeat that…3x PRODUCTIVITY vs. our competitors.
Meanwhile our project management software grants us 24-hour TEAM-WIDE connectivity that tracks all tasks and lets us know if productivity dips even a little bit.
There is ALWAYS someone senior awake. It could be Martin in Barcelona…Nat in New York…Vineet & Arif in New Delhi.
Well, the first step is to have an actual side hustle you’re launching. Not just an idea, a validated business.
MAJOR KEY: Do NOT spend money until you’ve made your FIRST DOLLAR! 🗝🗝🗝🗝
(You can catch a replay Business Launch masterclass here and see TRIBE member Nessa launched her business on the spot and got her first $45K client shortly after.)
One of the easiest ways to start is with Airbnb—you can start that in 10 minutes. Literally. (Here’s a guide if you need it.)
Once you have your business, you build a virtual infrastructure (you really just need two softwares, which are FREE), manage the team accordingly and run the business from there.
I’m gonna put together a step-by-step video breakdown this weekend inside the new TRIBE U on the FIVE key things you need to do this for YOURSELF. 💵 💎
From what software to use, how to build a team, how to keep.
In the meantime, drop a comment if you’re ready to build some wealth and any questions if you want more…
Let’s get to work. 🙌
PS: If you can’t be bothered with video and just wanna get to work, we’re hosting a TRIBE U workshopthat will help you get this process started on the spot. It’s $479 $49. 🔥
But what does it all really mean? How does it come together? In this week’s chart, our friends at CB Insights break down exactly how blockchain powers Bitcoin.
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