{"id":2481,"date":"2022-09-15T11:00:00","date_gmt":"2022-09-15T15:00:00","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=2481"},"modified":"2024-04-25T23:18:13","modified_gmt":"2024-04-26T03:18:13","slug":"hello-blockchain-welcome-to-wall-street","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/hello-blockchain-welcome-to-wall-street\/","title":{"rendered":"Hello, Blockchain! Welcome to Wall Street"},"content":{"rendered":"\n
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People with Fidelity 401k or retirement accounts might have noticed a new addition to their home screens: listed among the daily commodity prices is the price of bitcoin. Looks like Fidelity is now poised to allow bitcoin trading<\/a> in some 34 million individual investor accounts.\u00a0<\/p>\n\n\n\n

Meanwhile, the Bloomberg Crypto Outlook Report<\/em> points out that bitcoin can\u2019t be printed, and with a finite supply, it\u2019s likely to grow in value over the years ahead. One of Bloomberg\u2019s senior strategists has spoken of bitcoin\u2019s potential<\/a> when the economy improves.<\/p>\n\n\n\n\n\n\n\n

What About Regulation?<\/h2>\n\n\n\n

We\u2019re watching a sort of bifurcation: (a) bitcoin; (b) most other cryptocurrencies. To break it down:<\/p>\n\n\n\n

(a)  The U.S. Securities and Exchange Commission regards bitcoin<\/strong> as a store of value, SEC chair Gary Gensler says. Gensler singled out bitcoin as \u201cthe first crypto token\u201d and observed that it trades like digital gold. Many in the bitcoin community say bitcoin acts like a commodity, not a security \u2014 and yes, that difference is being accepted by the U.S. regulatory world.<\/p>\n\n\n\n

(b) In contrast, the SEC looks at most cryptocurrencies<\/strong> as securities. Most cryptocurrency businesses have founding groups that lead them, and people make passive income off the trades. Therefore, Gensler has said, most cryptocurrency businesses, and those who deal with them, should register with the SEC. Crypto exchanges, custodians, brokers, and lenders will then have to adhere to federal disclosure rules \u2014 just like a public company that issues shares would.<\/p>\n\n\n\n

It’s interesting to see clarity coming from the SEC. The forthcoming oversight of cryptocurrencies is likely to make these innovations feel safer for the average person.<\/p>\n\n\n\n

Bitcoin\u2019s Basis, Blockchain, May Be Key to Upholding Property Rights<\/h2>\n\n\n\n

Many countries lack systems to accurately trace land rights. Globally, the lost opportunities for landowners without titles add up to trillions of dollars.<\/p>\n\n\n\n

Governments \u2014 at least those that have the people\u2019s trust \u2014 could adopt blockchain-based land registry systems to address this worldwide problem. Blockchain, a technology brought to the world by bitcoin, is a tamper-resistant database. It becomes the single, indelible source of information about everything that impacts a chain of title. Activities are verified through a global computer network, so the information is constantly accessible.<\/p>\n\n\n\n

Already, some progress is evident:<\/p>\n\n\n\n