This is my intro post…and let me cut to the chase, I work in a large financial institution – the same sort of institution you crypto geeks revile. Where did I come from and why am I here?
Since I was a little kid, I have been fascinated with markets, currencies, gold, bonds, banks, asset managers and even insurance companies. I have spent most of my life learning about all things finance and now I work at the forefront of the industry’s transformation. I work in a particularly sexy space (for now, at least) known as ‘FinTech’ which is short for ‘financial technology.’ You’re going to hear a ton on the topic from me on steemit. I’m here to preach the gospel of financial innovation.
The vernacular of our industry is pretty drab. Matt Taibbi of Rolling Stone summed it up better than anyone – I come from “an insanely dry and boring planet, where there's no color and no adverbs…and babies are made by rubbing two calculators together.” As someone genuinely interested in the space, I still struggle with its acronyms and lingo. But there is a concept residing at a deeper level in my psyche that makes me unable to pull my mind away from finance and, I don’t know, read the Game of Thrones series…or something normal people do, whatever that may be.
Let’s get deep: Think about your own situation – you probably at the very least live in a developed nation if you’re on steemit this early. You’re probably educated. You probably never worry about food. If you were to think about the most fundamental concept – the one thing that separates you from the poorest of people - would it be? Think about it.
The difference between those of us who have anything, and those of us who have nothing is the allocation of capital.
Think about it some more. Do you agree? The rich world has buildings, infrastructure, education, capital markets, automation, air conditioning – all things that are nothing more than an provision of resources into a usable good. The poor world is simply a place where resources fail to transform into any useful or long-lasting form. This concept is why I am on steemit getting all FinTech-Jesusy on you and proclaiming the FinTech gospel. Access to basic financial services like deposits, diversified investments, and a reliable currency are all imperative for humanity to advance. Now we have stores of value governments can’t take. We have immutable ledgers. We have cheap payments anywhere in the world. We have STEEM, biotch.
The blockchains like the one this platform is built upon will change my industry. There will be massive layoffs in the coming decade as banks, insurance companies, and asset managers build on top of blockchains. Cryptocurrencies, crypto-assets, and blockchains will make it nearly impossible for a large institution to screw its customers, employees or the public and get away with impunity. Almost as important, steemit’s technology should at the very least get rid of some would-be-dickhead trolls.
Thanks to @ned, @dan, @dantheman, @berniesanders (great speech tonight, bro), @smooth, and @kushed for creating such a cool platform and being willing to put your time into something that could have flopped from day one.
Please follow me for some great conversations about FinTech, philosophy, and innovation. Also, upvote this to the moon, plz.
Oh, and here is a photo of my wife’s great physique – too many people are focusing on boobs. I mean, boobs are great, don’t get me wrong, but I’m more of a butt and legs guy. How many of you skipped my article and went straight to the photo? Not mad, at least you clicked, but at least upvote this goddess.
#introduceyourself #steemit #STEEM #fintech #crypto #fintechjesussavesmoney #whales
Minor clarification. @ned and @dan are the founders of Steemit, who along with their team, built this system. @berniesanders, @kushed and I (and a few others) are very early adopters, and as significant stakeholders we've occasionally offered our opinions to @ned and @dan about how to make Steemit better, but we didn't build it and I don't want to take credit for what is not deserved.
And on that note, Welcome To Steemit, FT-J!
Oh, understood. Thanks for the clarification - either way, your contributions are appreciated - I would imagine the success of the platform so quickly has come with a lot of surprise, excitement and a few sleepless nights. Cheers!
I'm also quite looking forward to the way crypto's in general shape the different industries including banking. We shall see what the future holds but it does look bright. I'm glad to have both you and your knowledge here, and look forward to future posts.
"Cryptocurrencies, crypto-assets, and blockchains will make it nearly impossible for a large institution to screw its customers, employees or the public and get away with impunity. "
Glad to hear that coming from somebody with your background. What is your take on Blythe and her crystal balls? Is she trying to help the JP Morgan's and other incumbents or leveraging the blockchain for whoever puts up the most buck on her table?:
I have only started researching fintech as of a few months - then bitcoin and now Steemit as a consequence. My learning curve is steep - but after having read the Tapscotts Blockchain Revolution and researched our own Dan I have hope for humanity again which I've almost lost in light of what IMF, Worldbank etc. are doing with the self-imposed regulatory authority.
Looking forward to your future updates ;-)
This was supposed to be between your quote and the video:
Glad to hear that coming from somebody with your background. What is your take on Blythe and her crystal balls? Is she trying to help the JP Morgan's and other incumbents or leveraging the blockchain for whoever puts up the most buck on her table?
I think this editor is not handling inserted videos to well - have been screwed up a few times with that already ;-)
Sorry for the slow reply - just noticed this post. I think DAH has got an amazing and rock-solid team....but I just don't know how much of an improvement the blockchain will be over existing settlement infrastructure. Goldman Sachs estimated that it could save banks about $11-12BN per year - which seems huge, but given the size of the banking industry it just seems like a rounding error. The intellectual capital that is being poured into blockchains is incredible - which obviously lends some credibility to the technology.
Thanks for your feedback - I'm sure we all will have more of an insight into this in the coming months/years. I think the blockchain technology has many more consequences beyond instant payments (where settlements are not necessary anymore ;-) - we shall see...
Great Intro post , read your comment on BTC technical chart post and knew the guy knows what he is talking about. Hope to read more of your stuff.
Thanks for commenting! I'll try and produce some useful stuff :)
Welcome to Steemit. You are awesome!
already lots of fake account commenting your post. Anyway I read your post and not only skip the content to see the pict of your wife :-)
Welcome to you fintech-jesus!
"We have STEEM, biotch."
You and your wife should stop by the Big Sandy machine gun shootout some time.
https://steemit.com/guns/@steve-mcclair/the-big-sandy-shoot-festival-for-machine-guns-heavy-artillery-and-gun-enthusiasts
I forgot to mention that I am a big fan of the 2A - but I happen to live in a state that is not so enthusiastic about it :(
This shoot looks awesome - I love the UFO - do you fill it with tannerite?
I have worked in the life insurance industry and the mortgage industry. This is going to very interesting to watch as it moves towards its intended purpose.
Thanks,
dubloon135
Very interesting
Great to have you Welcome! Gorgeous beach where is that if you dont mind me asking?
I believe we were in St. Kitts or St. Croix.
Thanks for sharing.
Interesting.
Welcome. Looking forward to hearing more from you.
so, when does your wife get to post her intro? :-P