Robby Greenfield, CEO of Rising Impression and Isaiah Jackson, creator of the e-book, Bitcoin and Black America spoke at present about how Bitcoin and DeFi are reshaping entry to cash. The 2 have been featured through the inaugural Etheral Classes digital convention.
Greenfield led off with a presentation of his firm and the way Rising Impression helps unfold crypto adoption to marginalized communities. The enterprise takes a methodological method to mapping the capabilities of know-how to the wants of marginalized communities. He mentioned the aim is to take action in a fashion that does no hurt, maximizes neighborhood participation, and sustainably gives financial empowerment and social safety.
“Too often we find B2C apps—particularly in the blockchain space—that do not really give users from different backgrounds who aren’t tech literate, that ability to empower themselves,” Greenfield mentioned. “DeFi is a huge part of this movement. But a lot of DeFi apps don’t interface with marginalized communities at all.”
Greenfield mentioned that sooner or later, he sees DeFi evolving past straight-up finance into “Environmental DeFi or environmental finance in the blockchain space.”
“You don’t see any protocols like Compound for the support of environmental commodities like carbon offsets and energy certificates,” he added. “This could completely transform how commercial finance and environmental finance cross communicate via exchanges. Imagine being able to use tokenized carbon offsets as collateral to offset a loan. Taking something that created benefit in the world and using it to access capital.”
The subsequent section featured Bitcoin and Black America creator Isaiah Jackson, who mentioned he started considering the connection between Bitcoin and financial inequality after the Ferguson, Missouri protests of 2014. “I really thought after the Ferguson protest, Bitcoin might be able to solve this, because financially, every time we have a protest, there is no solution at the end of it,” Jackson mentioned. “I started writing the book in 2019 because I thought something like this—a rise in protests—would happen again. I wanted to write it for 2020 because I knew something would happen.”
Jackson mentioned that “Black people have tried everything, from getting jobs, to getting into politics, to becoming President of the United States. But that didn’t work, so I began looking for a better solution, and that’s what drove me to write the book.”
Throughout the interview, Jackson laid out the important thing takeaways from his work. “Even though the book is directed towards my community, the one thing I want people to walk away with is: the inflation-based economy we live in under the Fed doesn’t work for anyone. So even if you’re not black, everyone is getting messed over by the Fed. Even if you feel like you are doing okay, you should have more. In regards to those who are marginalized, the printing of money and inflation-based economy we have takes wealth out of your hands and the hands of your future generations.”
Stated Jackson: “Crypto does not solve racism but it gives communities leverage financially so that it makes racism very costly and inefficient.”
The subsequent Ethereal Classes occasion, on yield farming and bootstrapping liquidity, is July 16.