EddieJayonCrypto
1 Sep 22
• News around Ripple continues to swirl, but this one might be true• California set to require crypto companies to get licensed in the state• Web3 is going to cause epic changes in how we do business• OpenSea weighs in and chooses Proof-of-Stake• The global economy is in turmoil and doing your own r...
• News around Ripple continues to swirl, but this one might be true• California set to require crypto companies to get licensed in the state• Web3 is going to cause epic changes in how we do business• OpenSea weighs in and chooses Proof-of-Stake• The global economy is in turmoil and doing your own research has never been more importantWhile the short term seems dismal, I think the mid to longer term looks very bright and I don't think it is that far away. Here is what is on my mind today.1. There is still a lot of news swirling around Ripple. I just made a correction about the FedNow project yesterday after mis-reporting the day before that. Now there is more news around its involvement with The Digital Dollar Project's technical sandbox program to explore CBDC infrastructure solutions. More swirl. Truthfully, I think positive energy is beginning to build around Ripple and XRP. The fact is you can still get and use Ripple. You just can't do it on US exchanges. As well, Ripple is a project that is all about cross-border movement of digital assets. 2. Imagine having to register your crypto company with the government. A bill is now on Governor Newsom's desk that would require just that. The bill focuses on fostering innovation while protecting Californians from financial hardship. Much like the California Consumer Privacy Act. (CCPA), I am pretty sure this will become a template for laws enacted in other states. Much needed regulatory guardrails 3. There are a lot of developments happening in the Web3 space. Developments in extended reality (XR), virtual reality (VR), augmented reality and mixed reality have created new innovations that can be used for bad and good. Taiwan's newly formed Ministry of Digital Affairs (MoDA) is mandated to create and implement policies to step up security across just about all communications technologies. Web3 is going to introduce many opportunities and companies must pay heed to what is already here and what is to come. 4. With Ethereum's merge only 2 weeks away (or sooner), OpenSea has now weighed in and they have chosen to only support NFTs only on the upgraded Proof-of-Stake implementation. This all but seals the fate of the much touted hard fork dubbed ETHPoW. Don't get me wrong. ETHPoW will most likely still happen. However, I do not think it will bear the fruit they want it to. After all, Ethereum Classic is still a thing. To me, it looks like a clear road ahead for the merge since all of the key players are on board. 5. There is so much going on that all I see for the immediate future is nothing but volatility. The economy is a train wreck at the moment and it will not get to a point of stability until the Fed takes a pause. The question is will there be more opportunities for profit versus loss. I am talking from an overall investment perspective. I think if you have money on the sidelines, opportunities will present themselves. The reason why I do what I do is not because I want to become rich. I do it because I want to build generational wealth. Hence, I try to teach my kids to "Do your own research!".