EddieJayonCrypto
1 May 23
There is a ton of short-term news that you can focus on, but it will mean nothing if you didn't see it coming from a long way off or know how it can play into things down the road. Here is what is on my mind today.1. We all knew First Republic Bank was going to crumble. Well, JPMorgan is going to be...
There is a ton of short-term news that you can focus on, but it will mean nothing if you didn't see it coming from a long way off or know how it can play into things down the road. Here is what is on my mind today.1. We all knew First Republic Bank was going to crumble. Well, JPMorgan is going to be the one to take it over through the purchase of its assets. It is expected that the FDIC will review the deal. This come after the banking overseer has seized the bank. I am not really expecting any contagion. That said, I think it is possible that we find other banks may be a poorly managed by their executives. I think there is going to be growth for crypto stemming from this and other banking snafus that may arise. 2. I keep telling people that they need to keep an eye on Polygon. Well Mastercard is teaming with Polygon, Aptos Avalanche and Solana to create the Mastercard Crypto Credential. This is supposed to be a facility that provides a trusted and verified identity for the participant in a given transaction. People weren't paying attention when I said using your credit card to spend your crypto is going to be a short-lived revenue stream for credit card companies. They are going to have to find more streams with longer legs. Authenticated and trusted transaction could be it, but then I there has to be a lot more above what crypto already provides. That may not be as easy as people think. 3. Venmo is about to enter the space with peer-to-peer crypto transfers. It was only a matter of time before these kinds of companies got into the space. They already have the apps and market penetration. Adding the feature provides a way for people to not just learn more about crypto, but also easily adopt it. That shortens the learning curve by a lot. 4. I keep talking about how the US is not moving fast enough to get on the crypto bandwagon. This is with the backdrop of Hong Kong and other countries, moving in a positive fashion to adopt crypto and put rules and guardrails around the industry to make it easier for adoption. Yes, I know there are countries and organizations like the IMF that are actively working against the grain, but in the United States, we are losing way. Rather we are giving it away to places like Hog Kong that are actively pushing their banking systems to offer services to crypto firms. We can either catch up or get left out. 5. It really should be no surprise that consulting firms are going to get deep into Web3 and artificial intelligence. It looks like Deloitte has about 300 new positions opened, all with a focus on Web3. This is a major move. This says they believe the industry has legs. If you are looking to get into the market or step up your skills and make yourself a sought after resource. I strongly recommend Web3, automation and artificial intelligence be your list of skill sets to look into.