I’m sharing my notes from The Atlanta Blockchain Conference today.
Here’s the schedule for the day:
TL/DR: Feel free to read the notes for every session below but I’ve compiled this retro for highlights:
The Atlanta Blockchain Conference Retro
Bitcoin is here to stay and it’s only getting bigger
- "Monetary reform is impossible so long as money is controlled by a ruling class who will make decisions in their own best interests.”
- The source of value of bitcoin is the blockchain itself and the usability of that blockchain
- A system of documenting ownership claims is the oldest need of humanity and the primary value of blockchain
Michael B. Casey
- The growth of adoption of Bitcoin and therefore bitcoin price is following an S-Curve of Technological Adoption, which is itself characterized by fractally repeating, exponentially increasing Gartner Hype Cycles.
- We’re still at innovators stage / maybe beginning of early adopters phase
- We will continue to see cycles but the amount of growth left is huge!
Real use cases for blockchain technology
- Tierion is using blockchain to create an insurance claims processing system using blockchain to verify timestamps
- Tierion is also working with Phillips auditing healthcare processes and create verifiable medical records and data
- Dominode is creating verified identity solutions for regulated industries
- Storj is creating decentralized storage and used a token sale to raise working capital
Opportunities for women in the industry
Women in Blockchain panel featured great examples of women making significant impact in the space
- Consensus gathering is a female strength - lean into that strength as it is a fundamental element of blockchain technology
- Blockchain technology/decentralization allows all voices to be heard and represented
Value of Bitcoin ATMs
- I always assumed the value of Bitcoin ATMs was the ability to anonymously convert fiat to crypto
- As Coinbase and others make it easier to instantly convert fiat to crypto, I’m not sure ATM’s provide a compelling value for the higher fees they charge
- Am I missing something here? Never used a Bitcoin ATM so I get that I may need to try it out to fully understand.
Risks of Open Bazaar
- I appreciate the commitment to the ideological stance that all markets should be completely open, free and unregulated
- People inevitably use these exchanges to sell drugs, weapons or other materials that put them at risk for prosecution
- The personal risk to put this idea into action would personally keep me out of this space but I admire Brian Hoffman and others for being willing to take a stand for their convictions
Tax implications of crypto investing/trading/mining
- IRS guidance is still unclear
- Burden is on the taxpayer to keep records
- The prudent choice is to pay what is owed - the downside of underpaying tax is potentially costly - $ and/or jail
- It’s really not that complicated but consulting a CPA or lawyer is recommended
Overall - Great day!
I’m more encouraged than ever that there is a bright future for blockchain technology. We’re still at the early stage and there is much work to be done before it’s mainstream. It’s not too late to get onboard, make an impact on the future and earn benefits as an investor, employee or entrepreneur.