Season 1 Episode 2: What Does the Future of Being Paid in Crypto Look Like? W/XRP Moon Knight
Kamilah and Nova discuss everything Web 3.0, cryptocurrency, the future of money, and how the creative industry should be brought up to date and educated about this.
Where do you start? Where do you begin? How do you navigate the available opportunities?
As we see major athletes asking to get paid in crypto – what does that mean and how will it look?
Creative and athlete XRP Moon Knight discusses this topic with Kamilah and Nova.
XRP Moon Knight got introduced to Bitcoin in 2019 or so. He started to research the major cryptos. It was XRP that drew him into the new financial system and all it's potential and possibility.
Why XRP? Why crypto?
XRP is the chosen standard currency for banks and the financial currency of the world. XRP was developed by Ripple Labs. After the 2008 crash, the system found it was not prepared. The new systems behind cryptocurrency move far faster than the current SWIFT (Society for Interbank Financial Worldwide Telecommunications) global system – and without all the middlemen and fees taking money in the process.
Being digital, all transactions are recorded – which adds transparency that the modern, centralized banking system often lacks.
XRP – unlike Bitcoin or Etherium – uses lower energy and transactions are incredibly fast. It is already pre-mined with a finite total. XRP can also convert and transfer value near-instantaneously.
Why get paid in crypto? Marketing to show what crypto is. It “looks cool” and draws attention to crypto. It’s faster than fiat money. You also can determine with crypto if you want to get paid a set fee or a number of coins – the latter letting you take advantage of value fluctuation.
Look for the White Paper. The white paper is the business plan, the proposal for why they are doing what they are doing, who is on the team, who they are partnered with, etc.
What is the future of being paid in crypto and the like?
The Metaverse will change a lot of things. Digital blocks of land are selling for millions. Banks are beginning to use crypto. Because of crypto’s speed, banks will have fewer costs. With the system moving – everything will go digital. Cash and like assets will remain – but the system will change.
New avenues and directions are coming - and the digital world is expanding. Even central banks will be or are creating digital currencies.
Cryptocurrency is an opportunity for more people to increase the value of work and participate in the new digital economy.
Cryptocurrency is a brand new asset class (like bonds were once a new asset class).
Crypto
Crypto for Creatives
Web 3.0
Creatives
NFTs
Blockchain
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