Blockchain and Community Banking
The Tidbit, brought to you by Cureate, digests this region’s small business landscape through food and beverage entrepreneurship. Tune in for trending new Tidbits at the top of the show, and then live interviews with business owners throughout the DC & Baltimore Metro Areas. Each week show host Kim Bryden will intertwine socio-cultural context, personal narrative, and business advice at The Tidbit.
EPISODE 04: BLOCKCHAIN AND COMMUNITY BANKING
On this episode, we chat about the ever-present yet elusive topic of BLOCKCHAIN, and how this technology is shaking up food supply chains. Then, we sit down with our guests, Lisa and Annie Hodges, to talk about community banking and the emotions tied to money/wealth creation.
A FEW QUOTES
- One year anniversary of Cureate Connect! Reach out directly: firstname.lastname@example.org
- Blockchain is the architecture, the framework, of transactions without a centralized entity -- like a government-backed bank. It’s a public, digital ledger of transactions without sharing personal information about the person receiving or sending the goods or services purchased. Each transaction is tied together, so you can look back at the ledger and see how the money has moved throughout the Blockchain.
- Someone Figured Out How to Put Tomatoes on a Blockchain
- Ripe.io’s website reads: [we are] transforming the fresh produce food supply chain by enabling data transparency and transfer from farm to fork to answer what our food is, where has it been and what has happened to it.
- Fireside Chat in San Francisco on March 14 with the Director of Food Sol at Babson College, Rachel Greenberger, and Ripe.io — Babson/SF Campus: 135 Main St @ Mission
- IBM & Walmart Launching Blockchain Food Safety Alliance In China
- In order for this to work though, from my understanding, is that you have to have everyone using a digital currency (like Bitcoin) in order to track the exchange of goods at every step. I work with small business owners every day and for most, accounting and the exchange of real money, is an issue. I can’t imagine how rural farmers in China or Indonesia are going to be able to handle keeping up with the exchange of goods via cryptocurrencies. [...] I asked the gentleman who spearheaded the building of IBM and Walmart’s blockchain technology about this… and his response was, well if you want to do business with Walmart you’ll figure it out.
- Working with high net-worth individuals to transmute their money in more values-alignment containers.
- On my journey, I realized my money was put into tobacco, oil and I did not feel good about that.
- Money is sitting in banks and mutual funds that are not in alignment with our values.
- Impact Investing: investing for a purpose other than financial return.
- Don't you want to feel good about what you're putting your money into?
- If you have a bank account, you can be an impact investor.
- When the baby boomers die and give their wealth to their children (millennials), they will no longer be taxed ($5M-$22M asset class). What happens to that wealth?
- I went to a conference on blockchain and it was full of tech bros. There were 3 women there.
- Remittances: transfer of money from diaspora to family members back in their home country.
- ICOs: like an IPO but with coins/tokens -- not based on dollars, but on equity.
- Pick a friend or family member to have a conversation about money. The financial system has been set up to be so confusing, it's easy to feel disempowered. But, we have more power than we think.
SHOUT OUTS & RESOURCES
Mighty for list of impact banks: https://mightydeposits.com/
Call to action: Ask your HR manager about sustainable/impact investing options for your retirement accounts. If they're not offered, say that you'd like the option added! (Lisa is happy to help with this, so reach out if you're interested and want guidance)
Here's a site that shows the carbon footprint of any funds you're invested in (you could use something in your retirement account, for example): https://fossilfreefunds.org/
Find out how to collaborate with Annie Hodges at anniehodges.com
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