For the past few years, I have been floating my interest with blockchain technology and cryptocurrencies to peers, family, and friends. Generally, I failed to elicit the necessary enthusiasm to yield more than a one or two minute exchange.
One or two minute exchanges grew logarithmically with the price of bitcoin and introduction of alt coins and tokens last fall.
The possibility of access to transparent, immutable, real-time data to make financial decisions is what attracted me to this space. With the surge of Initial Coin Offerings (ICOs) in 2017, visions of consuming financial statements danced in my head the first quarter of 2018. Needless to say, I am starving.
After reading several white papers, I routinely searched for financials looking to see how people were accounting for minted or pre-mined tokens. Would the liability be mark to market? Would the offset of 1 million token inventory plague balance sheets as “Opening Balance Equity?”
After attending a couple of local events, I was thrilled to find genuine interest and people willing to tolerate my curiosity beyond a placating smile. I had the opportunity to be introduced to some incredible talent spanning multiple industries and disciplines. You can hear many of these voices on The Henry Raines Show discussing the current developments and news related to bitcoin and cryptocurrency each week.
In my short time of being acquainted with participants on and off of the air, I have already been overwhelmed by the depth. While the show should not be taken as investment advice, and exists to inform and entertain; it has proven to be a catalyst of many thought provoking questions that I look forward to exploring in the days ahead.
This week, we discuss Goldman Sachs’ formal entry to the space, continue following the debate as to whether bitcoin and other cryptocurrencies are a commodity or a security, and consider implications from the recent class action lawsuit against Ripple.
In the second half of the show, we welcome Terry L. Brock, MBA, CSP, CPAE, a prominent speaker, syndicated columnist and video blogger to the show as he inspires author Sabine Priestley and me to explore some of the dApps available for content creation.
You can listen live every Saturday to The Henry Raines Show on WWPR AM 1490 from 12-1:30 PM Eastern or catch it in your favorite podcast platform.