Wall Street embraces Crypto. Main Street is next.

Groups Like the BlackLeadersDAO are among such groups exploring the ways in which Crypto and blockchain technology as a whole can be leveraged to enrich the lives of folks on Main Street.

It is hard for any objective observer to argue with the sway that the crypto markets have - over the last 10 years - come to have over the global financial system.


If anyone ever thought that Bitcoin, Ethereum, and the rest of the major digital assets out there were (collectively) just a passing phase, I am sure by now that opinion has shifted a bit.


According to some estimates, the crypto market (globally) ranges between $300 - $800 billion annually. And this number is based on the transaction out there that are visible enough to be counted. Compared to other financial markets, the crypto market, by design, is quite opaque.



The Mainstreaming of crypto

Over the last five years, we have seen major financial firms shift their internal operational guidelines to embrace the inevitability of the crypto space becoming part of our collective financial future.


It is a well-understood idea that many financial transactions in the years to come will be digital.


Banks will, at some point, allow their clients to deposit and withdraw crypto assets, convert digital assets to fiat currency, serve as custodians of digital assets, and many other conceivable permutational services orbiting cryptocurrencies.



Regulatory explorations

This view is evidenced in President Joe Biden's recent executive order urging various U.S regulatory bodies to assess the impact of digital assets on the U.S (and global) economy and to evaluate the viability of the introduction of an official USD stable coin.


Wall Street embraces Crypto

Major banks around the world such as JPMorgan Chase, and Morgan Stanley are currently dedicating a healthy portion of their resources to exploring ways in which they can grow their businesses via crypto.


Many venture-focused operations such as Andreesen Horowitz, and other titans of Wall Street including Steve Cohen who was once a harsh critic of the space have all shifted resources to explore crypto and its mothership: Blockchain.


After all, the idea behind digital assets (or tokens) is to create financial, and transactional opportunities around blockchain technology. That being said, there seems to be a growing consensus on the enormous opportunities - going forward - in the crypto space for both entrepreneurs and those that seek to invest in private, previously illiquid, firms.


Power of social finance

In this new world, startup founders will no longer have to seek out the handful of deep-pocketed folks around town ( and beyond) in order to raise funds to grow their businesses.


As we look forward to the future, individuals of all backgrounds will be able to support their favorite local businesses while accessing the liquidity infrastructure needed to remove some of the risks associated with investing in unproven businesses.


Various structures like DAOs and other emerging tools will help connect groups of passionate (everyday folks), armed with the power of social finance and collective bargaining to affect change in so many ways.


Groups Like the BlackLeadersDAO are among such groups exploring the ways in which Crypto and blockchain technology as a whole can be leveraged to enrich the lives of folks on Main Street.