Finance, Economics & Technology

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October 2016

Q&A: What are Bitcoin & Blockchain and More Importantly, Why Do They Matter?

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We’ve been hearing about bitcoin for a number of years now in the mainstream media and the common understanding is that it is a digital currency. Of course, this currency has not hit the mainstream in use, and so there is still a cloud of mystery around how it works and why it is of great significance.

I’d like to start by clarifying that it is not Bitcoin itself that is so significant, but the potential for mass adoption of a cryptocurrency (also referred to as digital currency), and the underlying blockchain technology that allows for the incredibly safe and trustworthy transfer of the currency, and any other kind of data or information. To best put it into context, blockchain is the new internet, and Bitcoin is the app that leverages the internet technology. Blockchain is completely game changing and the opportunities for application are endless.

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The Market’s Political Opinion

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It’s just a little ironic that a politician obtuse business person who boasts about his tax plans to support America’s biggest corporations would also be the person who the market, aka big business, distrusts most.

According to The New York Times’ Economic View writer Justin Wolfers, “stocks may lose 10 to 12 per cent of their value if [Trump] wins the November election.”

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Fondness for Ruth Bader Ginsburg

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A few days ago The New York Times published an excerpt from Ruth Bader Ginsburg’s soon-to-be-released memoir, “My Own Words.” It’s a sentimental piece that briefly describes her ascent to becoming a Supreme Court Justice and the necessary support she received from her husband in getting there (sadly Martin Ginsburg passed away in 2010 from cancer, he is pictured at left escorting RBG to an event). I find it rare to come across a piece that presents a logical viewpoint between balancing the need for ones own determination in reaching the top, and the immense need for partner support. Ruth does this well, and it reminds me of the importance of having a strong and committed partner who wants to help you succeed.

I am very much living through that right now being in a place where I need not only a great deal of patience as I figure this journey out, but also require near daily reminders that I’m not crazy and that I can achieve what I am setting out to do. Taking the plunge in going after what you really want, especially when it’s an uncharted path with many obstacles and no clear route to success, at times feels insurmountable. Knowing that there is someone who wants you to see you reach success, who believes that you can and you will is priceless and in my opinion, absolutely a key ingredient in accomplishing your goals. For me, this person is most often my partner, but certainly the role can be shaped by a friend, parent or sibling.

My point in sharing this, is that I feel that our world often draws harsh lines around what it means to seek a high level of success; that the person who is reaching for the top bar likely does not also seek to be nurtured. RBG’s piece struck me because she was so boldly sharing her need for both the highest position a lawyer can hold as well as a fulfilling partner relationship.

Read her essay, “Ruth Bader Ginsburg’s Advice For Living,” here

Feature Image via CNN.

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