Ethereum: The ”Apple Operating System” of Web 3 (Bonus episode)

Summary notes:

Ethereum is the most networked protocol in the crypto space and is used for powering NFTs and decentralized finance.  Ethereum has recently completed  a major protocol change which piqued the interest of many people who wanted to see if the transition went relatively smoothly, which it did.  

Another big reason for increased interest in Ethereum is in response to the centralized crypto exchanges that went under due to human error.  The most used Protocol to power Decentralized finance tokens is Ethereum. DEFI exchanges are making it through the centralized crypto exchange crashes relatively smoothly, showing the power of a distributed network and highlighting the need for using smart contracts and automated systems. This will likely  attract many more non technical participants to Ethereum and its applications, as it is seen as a reliable and secure platform.

Non-Fungible Tokens (NFTs) are likely going to revolutionize the economy and the way we access content and assets. NFTs can be used to give artists like Beyonce special access to their fans, allowing them to offer exclusive perks and benefits to token owners. NFTs can also be used by businesses to bypass banks and raise money from customers without any bank involved. In addition, NFTs can be used to create assets and increase the value of a company's balance sheet. Ethereum is the token most often used to build these types of platforms. NFTs are a great way to create a more transparent and incentive-based economic system.

Timestamps

0:01:42 Exploring the Benefits of Ethereum and Decentralized Finance (DeFi) 

0:04:54 Exploring the Benefits of Ethereum: A Discussion on the Difference Between Ethereum and Bitcoin

0:06:59 Exploring the Benefits of Non-Fungible Tokens (NFTs) for Artists and Businesses

0:11:40 Exploring the Benefits of Investing in Ethereum

0:14:56 The Benefits of Investing in Ethereum and Bitcoin

 

Phillip Washington, Jr. is a registered investment adviser.  Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and, unless otherwise stated, are not guaranteed.  Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

 

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