What to do now to prepare for blockchain technology

You are likely hearing “blockchain” a lot.

Other that speculation, what does it mean for business?

Join The Our Shawn McBride ⭐️ 🌟💥 (aka R. Shawn McBride)nd Dali Kranzthor, CPA, CVA, CFE for the Financial Transactions of the Future Economy(TM) Show as we explore what we are seeing and what we need for the future.

Debbie Hoffman, Esq. of Symmetry Blockchain Advisors joins us to discuss the steps to take today with Blockchain.


Here is the YouTube video: https://youtu.be/rvf0MJwE0h0

REMEMBER: More videos on the future economy are available at http://futuredoneright.com

Below is a machine transcript of the interview —


00:00:00.690 –> 00:00:13.230

Hey everyone, I see our Sean, welcome to another edition of the financial transactions of the future economy today. We’re joined by Debbie Hoffman of synergy blockchain advisors. She spends a lot of time traveling



00:00:14.009 –> 00:00:17.789

To various blockchain conferences speaks a lot of really in the know.



00:00:18.539 –> 00:00:27.000

And as you guys know, we’re trying to break blockchain and future technology future economy transactions down to pieces. You can understand. So Debbie is agreed to come on today.



00:00:27.480 –> 00:00:36.840

To help us talk about how you can use blockchain now and what you can really start to do to prepare yourself for the future of watching the steps you can do today.



00:00:37.440 –> 00:00:44.430

For those of you tuning in for the first time, or having to do a bit. I am Dr. Sean as my camera doesn’t see



00:00:45.360 –> 00:00:52.350

Our shot. I’m a corporate lawyer by training. I work with people on everything connected to their ownership and control of their business.



00:00:53.100 –> 00:01:00.480

My coat of a CPA and my coach dolly crowdsource also CPA is also a CEO, CFO of companies.



00:01:00.990 –> 00:01:10.050

And he has CVA Certified Valuation Analyst and CFP Certified Fraud examiner. So we’re financial guys we spent a lot of time reading about this stuff.



00:01:10.410 –> 00:01:20.910

Debbie Hoffman JOINING US spends she’s attorney as well. But she’s really gone deep into the blockchain consulting area, looking at the applications uses things you can do with it.



00:01:21.300 –> 00:01:29.850

Social share some light with us today on that our promise to you is when by the end of the show, you better understand steps you can start taking now.



00:01:30.210 –> 00:01:39.180

To use blockchain in your world. We love your comments are dropping below wherever you’re watching it, whether it’s the are shown on LinkedIn, Dolly Kranz Thorne LinkedIn Debbie often only



00:01:39.990 –> 00:01:43.380

Or if you’re viewing it on the financial transactions, a future economy.



00:01:43.860 –> 00:01:54.630

YouTube channel wherever you’re at. We’re reading those comments remind you, we have a comment contest. We take the best comment of the week and we invite that person on the show. So if you have a great comment we may be reaching out to you.



00:01:55.740 –> 00:02:04.650

Reminder no investment advice, no legal advice on the show. Everything’s just for your education, talk to your own advisors for that. With that, Debbie. Welcome to the show.



00:02:04.920 –> 00:02:05.970

Hi, good morning.



00:02:06.300 –> 00:02:08.280

So glad you could join us and



00:02:09.540 –> 00:02:14.370

Yeah so senior senior name around the community a lot. We have some mutual friends in the community here.



00:02:15.450 –> 00:02:20.490

What are we seeing now you’re, you’re in the know you’re at a lot of conferences events. What’s happening with blockchain right now.



00:02:21.210 –> 00:02:25.530

And very good thing is happening with blockchain right now. It’s really we’re really seeing it in the



00:02:26.130 –> 00:02:32.910

Enter growing the enterprise situation which means in companies that really want to enhance their technology.



00:02:33.750 –> 00:02:49.320

Last year we saw as we can get into it icos and there were a lot of smoke and mirrors and we’re really beginning to find out in terms of seeing the true blockchain endeavors. Some crypto related, some not so it’s a great time to really vet what what’s going to be the future.



00:02:49.770 –> 00:03:01.590

Yeah. And in fact, I’ve heard a lot of people say the fact, some people are running away from the word blockchain. Right, so they’re starting to use the distributed ledger technology or other terminology, because there was so much smoke around blockchain.



00:03:01.890 –> 00:03:11.850

Right, yeah. And just in most hopefully some of the people out there know that distributed ledger technology is just the umbrella term to blockchain Blockchain is a type of distributed ledger technology so



00:03:12.510 –> 00:03:20.910

A lot of people use them interchangeably simply watching because it’s kind of the hotter word right now but DL t is is really going to be the future. Yeah, right.



00:03:21.120 –> 00:03:32.520

And it can be different forums and then, you know, of course, we talked a little bit about GDPR and block chain and you can’t even have a true blockchain in Europe, because of the GDPR regulations, you have to modify it.



00:03:33.960 –> 00:03:45.930

Yeah. Or you can have offshoots of it that protect your data. There’s a lot of ways to do it. And I think that people get nervous when they hear blockchain and privacy because they think that you can’t have privacy and you can even do off chain you can do



00:03:46.560 –> 00:03:47.700

There’s a lot of ways you can do it.



00:03:48.240 –> 00:03:59.460

Right, so everybody’s kind of evolving right now everybody’s trying to figure out their place, but a lot of big players have jumped in heavily for this like you’ve said right a lot of big companies, the enterprise are building these solutions.



00:03:59.610 –> 00:04:08.580

Correct. Yeah. And one of my favorite one. So with the last week we had the whole Thanksgiving week the lettuce scare where there was the romaine that nobody could eat and



00:04:09.060 –> 00:04:16.770

Walmart actually has an endeavor. You guys probably know about that they can track back there. Let us to their originally to where it came from. And they can do it in a minute of



00:04:17.040 –> 00:04:24.960

It and thinking of less than a minute. Whereas, if we can implement that in our supply chain across the world. Like, won’t you know Walmart did it can change everything.



00:04:25.770 –> 00:04:32.430

Right. It allows a lot of tracking, you know, to get the effect of products or problems, problems there.



00:04:33.180 –> 00:04:44.940

You know, there’s a lot of things that can be done. Where did this get source from a lot of people for health reasons. Want to know you know what the sourcing of their products are. That’s another possible applications. There’s a lot of good applications for it.



00:04:45.150 –> 00:04:45.540




00:04:45.720 –> 00:04:50.280

Other big challenge seems to be getting the critical mass getting rolled out but it’s starting to happen now.



00:04:51.030 –> 00:05:01.350

Right. And there’s just many announcements of bigger companies getting in the mix and figuring out where you are announcing they’ve been figuring out for a while now sensing where they’re using it.



00:05:01.920 –> 00:05:12.750

I do a lot in in lending and finance and yesterday there was a big announcement that old republican first American have a big block chain Deborah Kolb collaboratively. So again, that was another big name out there.



00:05:13.200 –> 00:05:23.730

Yeah, that’s it. That’s, that’s important news because we did real estate and blockchain. And there was a lot of talk about with the title companies be slow to adopt because their current business model works, you know, and it makes them money.



00:05:24.900 –> 00:05:27.330

So question there for a while. Dolly. Do you have a question.



00:05:27.780 –> 00:05:42.570

Yeah, real quick, Debbie on the Walmart piece, isn’t it, that they’re actually requiring some of their new customers to join those those supply chains, so that you can even do business with Walmart unless you join. So a lot of these companies are gonna have to start preparing to implement



00:05:42.840 –> 00:05:45.150

Otherwise, they’re not going to do business with the big boys.



00:05:45.330 –> 00:05:53.790

That’s exactly right. And what’s interesting is, so I speak to a lot of executives and they say, Well, I’m not going to spend the money to implement watching them. I said, you may not spend the money, but your



00:05:54.240 –> 00:06:01.410

Partner’s your suppliers, they will request that you’re part of this. And so you really need to understand what does that mean, because most business people.



00:06:01.650 –> 00:06:10.140

I would most as a generic term, but most business. People say, what do I need to know blockchain for well you need to know on to because you can be part of this bigger ecosystem is can be using it.



00:06:10.740 –> 00:06:22.230

Yeah. So change a lot of stuff. The other you know the other interesting piece of blockchain to those. It works a lot better when of course everybody participate right when you’re interlocking the letters when you’re transferring those those inventories and



00:06:22.740 –> 00:06:30.900

That’s the things to Walmart Mama, mama. So the world want Dolly, and I are both accounts were very interested in the evolution from the accounting side.



00:06:31.350 –> 00:06:31.800




00:06:31.890 –> 00:06:39.120

For audits and record keeping. When you have multiple companies using it suppliers and customers and everybody’s using blockchain.



00:06:39.630 –> 00:06:47.820

You can drive a lot of efficiency in your audit function and your record keeping function, but it all depends on multiple people using it. You can’t have disconnected pieces.



00:06:48.210 –> 00:06:53.370

Right, and I think that’s the big differentiator. A lot of people see you know we talked about smart contracts and people say old



00:06:53.820 –> 00:07:02.040

blockchain is just a workflow. And I tell them, Well, yes, it’s in some degree is a workflow, but it’s a workflow among different parties that are disjointed right now so



00:07:02.250 –> 00:07:08.400

You know the supply chain factor of it a lot you can do to a supply chain, not just within one company, unless it’s a



00:07:09.000 –> 00:07:12.990

You know, like a JP Morgan huge company globally that has its own different supply chains.



00:07:13.260 –> 00:07:24.870

But in industries. I always say, look at your industry and where the, where the handoffs and where’s the disjointed and that’s one of the reasons I got so interested in because of mortgages, just a huge supply chain. Yeah.



00:07:25.860 –> 00:07:38.400

Oh yeah, it makes a lot of sense. You know, and the accounting today article said 97% of others might lose their jobs because that that points to the fact, so much of the work is verifying these disconnected records. Right.



00:07:38.430 –> 00:07:51.570

Yeah, companies got this record they typed it in or they entered it in based off some ledger Company B has a similar record, but there’s no connection between the two. And so otters have to spend all their time making sure that everything really happened.



00:07:51.990 –> 00:07:56.700

Yeah along that point. JOHN I think it’s important for our watchers to know that.



00:07:57.840 –> 00:08:04.830

What you put in you you audited at once. And so that audit to you have to make sure that’s worthwhile verifiable information.



00:08:05.250 –> 00:08:10.170

What’s interesting, and I’ve gotten this question a lot, is when you move that information down the blockchain down the line.



00:08:10.320 –> 00:08:19.050

You have to either you have to know that first party that audited. You have to. There has to be some trust that they did it right, or you’re going to still want to audit it because it’s still going to be not



00:08:19.440 –> 00:08:30.540

Not correct information. So I think that point has to be made as to you the facts. We don’t keep on running again because once we have a known audit that we trust we can move it forward and



00:08:30.570 –> 00:08:31.620

Get you know



00:08:32.190 –> 00:08:32.940

Concept. Yeah.



00:08:33.330 –> 00:08:42.780

All right. Very important connected there but you know even even down the chain. So, you know, you know, let’s say dolly or I were CPA. We’re not really auditors at this point in our careers, but



00:08:43.050 –> 00:08:57.000

If we wouldn’t do an audit of a company and we looked at their books and records, it’s one thing if it says, you know, I have, you know, this much this much inventory. It’s another thing if it says, I have this much inventory and I’ve got records that are connected to a third party record.



00:08:57.300 –> 00:09:07.710

Yeah, and I think that third parties credible. Well, now I can say, well, they show transferring the inventory to us. And because our Ledger’s are interconnected, it’s gonna be hard to fake that



00:09:08.100 –> 00:09:20.460

Right, right. So that, that’s, that’s part of it is, you know, yes. You need that building block of good reliability. But when you have credible people using it together. You’ll know whether there’s a problem between the records.



00:09:20.910 –> 00:09:23.010

Right. And, and I think that also brings



00:09:23.850 –> 00:09:35.850

Brings to another point about insurance. So we have insurance today because we don’t know how credible the sources are and people always ask me, well as title insurance or other insurance going to change or go away and I go back to, well,



00:09:36.030 –> 00:09:42.150

Perhaps it will change because we have trusted sources. It’s a matter of whether people really trust.



00:09:42.690 –> 00:09:53.580

Their sources. So, in my opinion, insurance, probably won’t go away because people are always going to be somewhat distrustful, you’re going to want somebody else to take the liability but it will definitely change the process of the insurance companies and how they do things.



00:09:53.850 –> 00:10:01.380

Yeah, we think the insurance industry is up for massive change part of thats related to some of the other stuff we’ve talked about on the show just



00:10:01.680 –> 00:10:12.210

The self driving cars a lot of the other tech that’s coming in here. It’s also going to have massive pressure on the insurance industry and it may fundamentally change how insurance has written, whether it’s written to the auto manufacturer



00:10:12.690 –> 00:10:15.810

To distributor. We don’t know yet, with the intention to look like.



00:10:16.140 –> 00:10:17.760

There’s gonna be a lot of disruption Dolly.



00:10:18.330 –> 00:10:25.980

Hey, real quick. Are you familiar with chain link because one of the biggest problems we’ve had with this like the smart contracts and the insurance is the Oracle



00:10:26.370 –> 00:10:36.420

And so this idea that somebody has to confirm the data in the smart contracts and once it executes its final. So there’s a couple companies, it looks like chain link has been number one that’s actually creating these



00:10:36.720 –> 00:10:41.400

Like verify and events and then saying really happened like so if you’re going to bet on the weather or



00:10:41.640 –> 00:10:51.750

You’re going to have insurance for a disaster that it actually can confirm it. And that seems to be the big missing link in the chain. Is this something you see like getting better. Yeah.



00:10:52.110 –> 00:11:01.980

Um, so we obviously there’s a need there and and there’s a company chain link or others that have identified that need. And I think what that points to I



00:11:02.490 –> 00:11:10.680

What I think that points to is, as we developed watching. There’s all these holes that we’re finding as two holes, meaning how can we improve it and that’s



00:11:10.920 –> 00:11:20.880

That’s definitely an area of improvement, and I think we will continue to find those kinds of areas where companies will evolve and fill a need that we didn’t even know was a need before so



00:11:21.210 –> 00:11:24.840

Sean is interesting because then you said you know the insurance companies going to completely change.



00:11:25.110 –> 00:11:31.680

I always am careful to say well might change, but the people working insurance. My tomorrow I’ll be working at chain link and so



00:11:31.950 –> 00:11:42.930

I i’m always careful because I think people get scared. I’m not gonna have a career anymore. Well, well, if you understand this and you can see where it’s moving, you’ll have many opportunities in your career, perhaps, if these innovative companies.



00:11:43.290 –> 00:11:48.360

Yeah, well, you know, one point we drive home on a show and I think that this base that point is, you know,



00:11:48.810 –> 00:11:57.930

Jobs are going to change things are going to happen you know and and i think insurance companies are massively changed but absolutely somebody understands insurance as that history has that background that



00:11:58.260 –> 00:12:07.470

Is paying attention to the future, you know, their particular role the insurance company changes there might be another role of the insurance company, they can move into where they can move to a different company.



00:12:07.860 –> 00:12:18.150

Right. There’s a lot of people are trying to you know put their head in the sand. I don’t think our viewers are in that category but putting your head in the sand and hoping this change doesn’t come it doesn’t take your job is not going to be an answer.



00:12:18.810 –> 00:12:20.100

Right. No, I agree, and



00:12:21.420 –> 00:12:25.230

Yeah, and we can’t predict necessarily what’s tomorrow.



00:12:25.980 –> 00:12:40.800

It’s just like I said before, just the the innovation is just incredible. Every day I hear about new things that are helping to develop blockchain in different areas and even, you know, even if we if we don’t, if I go off a little bit of talking about



00:12:40.800 –> 00:12:58.110

Just in crypto. So what I thought was fascinating was a company that is basically they’re using solar energy to power the mining. So things like that that have popped up. And this is huge business. So all these innovative new kinds of businesses that we wouldn’t have had a few years back.



00:12:58.800 –> 00:13:08.460

Exactly. I mean, and that’s going to be the legacy of this is we’re going to have ongoing change. And I think people have to be realistic that you know jobs may come and go faster than they have in the past.



00:13:08.970 –> 00:13:16.380

But there’s still gonna be a lot of human involvement. We talked a lot about relationships understanding. Right. I mean, you’re gonna have a smart contract executing



00:13:17.010 –> 00:13:25.680

But if you have, you’re going to have to have people are gonna have to have institutions that have a need for the smart contract. It’s going to have to be communication between them.



00:13:26.220 –> 00:13:35.310

Of what what that relationship looks like right so we’re moving more and more into these, you know, communication skills human understanding



00:13:35.850 –> 00:13:45.630

Understanding how everything’s interconnected. These are the types of skills of the future, we believe very analytical data entry, you know, type it in that those jobs are going away.



00:13:46.380 –> 00:13:53.670

Right. I mean, again, that’s the way the world of all smart contracts. If we talked about that. Um, I have so many opinions on that obviously as a lawyer that



00:13:54.750 –> 00:14:02.130

I think that it’s fascinating to me that we can co we could clarify a lot of what’s written in law, but there’s a lot of ambiguity as to



00:14:03.030 –> 00:14:14.970

If there’s a dispute. Do you have to go back and you have to read the code, you have to have a translate that back to logs you. Is it is it even a legal contract because it’s already codified in code and it’s more of a technology breach so



00:14:15.540 –> 00:14:24.240

There’s so many different areas. And that’s why I think from a legal perspective, this is it’s fascinating because there’s so many different ways you can craft your argument.



00:14:24.780 –> 00:14:31.470

We’re on, we’re taught in law school just we can craft it we have to be able to craft it both ways. And I think that blogging is that perfect opportunity.



00:14:31.860 –> 00:14:38.070

Yeah, exactly. We’re going to see that. I mean, we’re talking a lot about the regulatory side which is also legal based, you know, and



00:14:38.820 –> 00:14:49.350

Dolly, and I’ve had quite a focus on program or liability lately. And we think that that’s that’s a common thing. You know, we’ve seen the hints from the CF TC and how the SEC



00:14:49.680 –> 00:14:50.100




00:14:50.250 –> 00:14:54.420

It’s a struggle to find points of accountability. It may well be the programmers.



00:14:54.960 –> 00:15:02.370

And here’s another place where a program or might have some risk is on a smart contract right if the smart contract doesn’t execute the way they want



00:15:03.120 –> 00:15:10.290

Much like you might bring a malpractice action as the lawyer you might go after a coder saying you didn’t code that the way you should have. And now we lost this money.



00:15:10.860 –> 00:15:17.550

Here, let me ask you, what are you seeing in terms of, um, and auditing. I’ve been talking to a few companies that are really



00:15:17.970 –> 00:15:25.950

Big on auditing the blockchain or the DLC after it’s been built either before market or as it goes to market. I think there’s a huge



00:15:26.700 –> 00:15:37.170

Need continuing need for more more companies that can do tech knowledge audits of smart contracts of other things, you know, because it’s the whole again, we’re not using paper anymore so



00:15:37.620 –> 00:15:46.380

Why it’s going to become Systems Audit, you know, we’re already. We’ve already seen a lot of evolution of that in the last 2530 years right more and more of your auditing is rather than



00:15:46.500 –> 00:15:55.800

The line transactions. It’s the system. So that’s going to become the big discussion point in the future is automating the processing system for a blockchain world.



00:15:56.010 –> 00:16:07.200

Right, your audit may not even assuming that again like we started with a fundamentally good transaction. You’re credible parties involved. Well, the blockchain transactions their their their their verified. They’re already done.



00:16:07.440 –> 00:16:07.830




00:16:08.100 –> 00:16:17.700

Just don’t record things correctly, is it accurately showing what’s happening. You’re seeing more system type on it’s by the by the accounting or whoever the professionals are to take that over



00:16:18.240 –> 00:16:28.170

Right. And then I probably will see emerging certifications have to verify that this these companies have had these all systematic God is sort of like we see as now, and that kind of thing. Right.



00:16:28.320 –> 00:16:34.830

Exactly. And then we will, we also expect, you know, extending this over to the related area of programmers. And one thing



00:16:35.400 –> 00:16:44.310

I have projected is that programmers are going to start having to build their own internal self regulatory body so that they can look at



00:16:44.910 –> 00:16:55.440

You know, did we do this properly, you know, did we get the sign offs. I mean, the CFC language states that, you know, if you write a piece of code that is used to violate the law, they’re going to go after you for aiding and abetting



00:16:55.890 –> 00:16:56.340




00:16:56.400 –> 00:17:08.910

Which means that programs are have to be awful careful what they code, which means most of them probably gonna have to have legal teams supporting them to make sure that the code that writing is legal. It really shifts. A lot of responsibility.



00:17:09.630 –> 00:17:19.650

It does and what I also think that’s interesting because right now so many of those programmers are, I would say there are. There’s a lot of individuals out there that are really skilled developers.



00:17:20.160 –> 00:17:33.840

And so the question is, are they going to be able to continue in that method as individuals or as just partners are that again have to join larger companies that really take some liability way to help with that. That’s that could change the whole way things are running right now and



00:17:34.950 –> 00:17:35.340

I think



00:17:35.400 –> 00:17:46.470

I think the whole economics of that industry is about to change that. I think yes, you’re going to see some people consolidating together, you’re going to see a lot of cost, it’s shifted to the programmers. It’s going to increase the cost of programming is going to have to have these liability.



00:17:46.470 –> 00:17:54.570

Protections and oversights whether that’s part of a bigger company with the legal department or whether they’re hiring outside counsel to review every programming agreement.



00:17:55.170 –> 00:18:05.100

Whatever you do, and people have raised. Well, what about we’ll just get indemnification when we’re talking jail time indemnification doesn’t really help you. What a federal agency shows up and what’s put you in jail.



00:18:05.610 –> 00:18:09.180

You know, you’re talking about a whole other area of insurance for talking about insurance morphing and



00:18:09.570 –> 00:18:15.060

Right here is that if there’s any insurance underwriters why they should think about, hey, this could be a new opportunity.



00:18:16.050 –> 00:18:24.900

I’m telling you, a year ago when I was talking to insurance companies, there weren’t a lot of products out there watching related. And now we’re seeing more and more developed and I talked to a lot of insurance.



00:18:25.170 –> 00:18:29.880

underwriters who are who are trying to figure out where they can find some opportunities. Yeah, we’ve



00:18:30.120 –> 00:18:39.810

We’ve told programmers to go and buy insurance but it’s probably a bargain right now because they probably the underwriters probably haven’t fully appreciated all the risks associated with the program or liability.



00:18:39.930 –> 00:18:43.590

Yeah, but they don’t like what kind of life, it just be general liability and so it doesn’t mean



00:18:43.890 –> 00:18:44.460

Some professors



00:18:44.490 –> 00:18:47.040

Get some professional liability policies available for



00:18:47.130 –> 00:18:50.550

Programmers yeah yeah we make those programs we think those



00:18:50.700 –> 00:19:00.060

Those insurance products are probably underpriced because the insurance industry hasn’t caught on to the level of risk. Yeah, it’s by the sea FTC and recent actions by the SEC



00:19:00.450 –> 00:19:02.190

Yeah, I agree. Yeah, yeah.



00:19:03.570 –> 00:19:14.070

Yeah, just real quick. I mean, this is a real bummer for programmers, because if you look at like the real wealth creation of companies and the best way to become an entrepreneur and a millionaire a billionaire is to create code.



00:19:14.520 –> 00:19:21.360

Is to solve problems automate reduce friction and companies come out with new innovative ideas. So by doing this in dampening



00:19:21.630 –> 00:19:34.440

The ability of coders to code. We’re also damping. The ability for people to leap frog into the higher wealth area. So I feel that this is actually quite dangerous to create too many laws because if we stifle the innovation.



00:19:34.980 –> 00:19:42.570

Then we go back to what you need big money in order to build big companies. And if that’s the case where then eliminated 90% of the population.



00:19:44.220 –> 00:19:45.570

We involved in wealth creation.



00:19:46.020 –> 00:19:49.410

No question. No question as your as we’re talking through this, you know, it’s



00:19:49.680 –> 00:19:57.960

So then how do you solve that problem of being able to have the innovators and the programmers work on their own without working for big companies stifling their innovation and that’s why



00:19:58.320 –> 00:20:06.990

I don’t know what the answer is, is insurance. The answer is just, I don’t know, and your regulation is there’s and cons. We thumb, but



00:20:07.320 –> 00:20:09.540

Yeah, we’ve our fear here is that this is global.



00:20:09.630 –> 00:20:16.470

And so this is the first time we’ve ever seen a product that scales across the globe instantly. It’s all open source, it’s all available to anybody.



00:20:16.920 –> 00:20:27.240

The education is global. So our big fear is that if they regulate too much, that they’ll just leave. So we’ll start we used to get the best minds and then we’ll start losing the best minds and



00:20:27.540 –> 00:20:41.400

You know, and then also with education and validation and now you don’t need to go to Harvard anymore. You don’t, you know, you can go and learn from YouTube. So if we start losing some of this talent. It can be a real disaster, you know, for our next level of innovation here in America.



00:20:41.790 –> 00:20:45.360

Yeah. And you’re saying moving it from the US. And we’ve already seen some of it, honestly. In this



00:20:46.230 –> 00:20:58.770

In this industry. And so I think those of us in this industry under appreciate the fine line between we need some regulation, but we don’t want to be over regulated. But right now we have very little, and I think they



00:20:59.250 –> 00:21:07.350

The regulatory agencies are really just trying to figure out that balance and we can’t even get to that balance until they until they start diving deeper and so



00:21:07.860 –> 00:21:13.320

I think we’re going to have a push and pull for a while until we can find that like that middle of the road regulation that works for us.



00:21:13.620 –> 00:21:24.180

Yeah, I understand. And I make the point, right, I mean, a lot of the international community is using this as a competitive opportunity right certainly Russia Putin’s makes it as easy as a competitive opportunity, Malta, we see we see



00:21:25.080 –> 00:21:27.090

Patients from the Chinese that they’re competing



00:21:27.510 –> 00:21:33.900

I don’t hear that same language coming out of any very many people in the US, you know, we need to compete when you don’t win this window.



00:21:35.610 –> 00:21:40.590

So fundamentally, the attitudes just completely different between the US and a lot of the international players.



00:21:40.950 –> 00:21:52.140

Now, absolutely. I mean, we have yes we have layers of ready yet. Correct. That’s exactly right. There’s a lot more innovation coming out of those areas. They’ve lost. I would say maybe less less to lose hope. Yes.



00:21:52.320 –> 00:21:52.650

Less the



00:21:52.980 –> 00:21:53.610

More you know



00:21:53.640 –> 00:22:03.540

More to gain and they also view it. They also view it as a competition, they view it as a race that we this is like we view the space race in the 60s, right, we want to get our we want to get to the moon first right and we went



00:22:03.870 –> 00:22:13.380

For it right, other countries like we want to get blockchain. We want to get cryptocurrency will get our future tech first they vary based race and we do it as well. Another thing coming along.



00:22:13.950 –> 00:22:22.620

Right, you know, the good news is we do see a lot of worldwide collaboration, even though there. It is a race. There’s definitely you know global



00:22:23.790 –> 00:22:30.690

Projects that and nobody’s afraid to work, globally, really, I think that that is pretty unique



00:22:31.140 –> 00:22:42.840

That is unique and we’re hoping the regulators don’t end that we’re starting, you know, Dolly, and I’ve run a couple shows on splintering we’re concerned that people are no longer be able to write global code because of GDP are in Europe.



00:22:43.320 –> 00:22:49.710

Us regulator see FTC SEC and other regulators in the US, China wants a different version of Google.



00:22:50.100 –> 00:23:04.230

You know questions going to really become. Can you, you know, five years from now, right, global code because each of the regions are going to have their own regulatory environment. And could you write something that can be used worldwide and pass regulatory muster Dalit



00:23:05.040 –> 00:23:13.380

Yeah. So again, back to looking at this as a legal standpoint it’s I think it’s a little bit overwhelming because there is no



00:23:13.830 –> 00:23:25.650

You know, people always ask me about blockchain law. There’s no global blockchain law. And so how we see this evolving is going to be very interesting and nobody can really I don’t think anybody can quite predict where that’s going to be heading.



00:23:25.980 –> 00:23:34.050

Is actually a long road ahead of us. Well, we’re, we’re a wrap this one up. We’re gonna have to invite you back then because there’s more to talk about. And this is a fun conversation.



00:23:34.710 –> 00:23:44.280

We asked our audience to like, comment and share let more people know about these conversations, getting the discussion right that’s the key here is we need to have these discussions get smart minds thinking about this.



00:23:44.580 –> 00:23:48.840

And start shaking evolution and certainly there’s a very geopolitical part of this getting



00:23:49.290 –> 00:24:00.090

Getting your version of what you want into the political system so that your whatever government represents you is getting your ideas there we remind folks, we have our comment contest going on.



00:24:01.350 –> 00:24:10.110

We are looking for a handful of talented people to work with Dolly, and I to get this show bigger and to do a lot of the support activities, including the research that



00:24:10.500 –> 00:24:20.760

We’re doing on a regular basis. So if you’re if that appeals to you or somebody, you know, have them reach out to us at planning done right com slash in terms, Debbie. Hello folks get ahold of you.



00:24:21.390 –> 00:24:36.630

Oh, I’m so my company is called cemetery blockchain advisors, Inc. And it’s a symmetry es y AMP M. E. Try advisors ad VI S O R s.net and that’s the best way they can. They can submit a contact me on their



00:24:37.500 –> 00:24:48.390

Perfect. And as you can see people she gets it. I mean, she sees how the pieces fit together. What it means, how it all works. So reach out to Debbie she’ll help you move you along in there.



00:24:48.900 –> 00:24:55.560

We remind folks, we don’t do investment advice of legal advice will show everything. Here’s for your education dolly do quote for us.



00:24:56.250 –> 00:25:11.100

I do Sean It’s by a robber or Rob while and he says blockchain is like a giant interactive spreadsheet, everyone has access to and updates. So that’s a simplest explanation. I’ve ever heard. I love it. It’s, you know, everybody’s updating this in real time.



00:25:11.370 –> 00:25:12.030

I see this



00:25:12.180 –> 00:25:18.510

Self regulatory and a lot of ways. So a lot of these regulations are fighting for the turf war and we’ll see where heads.



00:25:19.260 –> 00:25:33.750

Yeah, can I add a quote too because I got to add a quote that I had a contract professor who would end every class. And he would say there are no answers, only more questions, and I think that truly relates to wanting



00:25:34.200 –> 00:25:44.850

That’s fantastic. And one and dolly or a building or your quote Sampson Williams, who is a great line and blockchain was on our show a few weeks ago said that



00:25:45.750 –> 00:25:57.240

They have the LT or blockchain as being a group text message right it’s it goes to everybody. It’s recorded on everybody’s phone. It’s like a group text message and a very simple way to think of blockchain.



00:25:57.870 –> 00:25:59.130

That’s pretty awesome. Yeah.



00:26:00.060 –> 00:26:07.740

Before we close. Yeah, Debbie. Did you see the pseudo she popped up with nowhere and oh I are. Do we know what that means for the audience. Any idea.



00:26:10.320 –> 00:26:14.700

And no, but I will. As soon as I get off of the show. I’ll be like, ah, no I don’t, I don’t know.



00:26:14.820 –> 00:26:20.940

I don’t know either. It’s, I guess his email has been dead for four years and then today. This new message. No, you are just popped up.



00:26:21.330 –> 00:26:23.430

All right, well I’m gonna get on social media and see



00:26:23.820 –> 00:26:25.620

What the sessions are going on about that.



00:26:25.770 –> 00:26:28.620

I think it’s a storm out there just pop it in three hours ago.



00:26:29.010 –> 00:26:39.840

Okay folks, I want you, I want to congratulate you for doing the hard work. Well, thank you for joining us and for thinking about the future, you’re investing yourself. It’s going to be important to your leadership of the future. We’re glad you’re here. I



00:26:40.140 –> 00:26:47.430

Want to remind you to check out past episodes other guests that future done right com you can also see our upcoming guests a future done right calm.



00:26:47.790 –> 00:26:55.290

And if you want to be in the know early sign up for our email list also a future done right calm, Debbie. Thanks for joining us today was a lot of fun.



00:26:55.590 –> 00:26:57.450

Thank you both. I really appreciate being here.



00:26:57.930 –> 00:27:00.420

By it’s gonna be good. Well good, good broke folks will see you soon.


Powered by WishList Member - Membership Software

%d bloggers like this: