What is the Alabama Blockchain Alliance and how did you get involved ? The ABA exists to help educate citizens , lawmakers
and regulators in the state about blockchain technology . We also advocate for sound policy surrounding crypto and help to empower entrepreneurs to grow successful blockchain-based companies and initiatives in the state .
What is your role with the alliance ? I serve on the board and am acting Executive Director . I am also the Chief of Staff at Defi Education Fund , a decentralized finance policy and legal advocacy non-profit based in DC . I work remotely from Montgomery and travel to DC about once a month .
How does the alliance benefit the business community and what are its goals ? Crypto is currently a 2.5 trillion dollar asset class .
We project it to be a 50 trillion dollar asset class in the next few years . We seek to empower Alabamians to plug into this powerful new sector of the economy and leverage the benefits of having access to a democratized financial system that starkly contrasts with our current system which is often gatekept by wealthy and powerful institutions .
What is blockchain technology and how do different industries use it ? That ’ s a very complex question , but in short , blockchain
is a freedom technology . It allows for people to have full freedom to transact without having to rely on permission from institutions and without having to pay those institution ’ s fees for the right to use their own money / property . Blockchains allow people to have full control over the digital property that they own and use it as they see fit without having to get permission from some large company or institution and without the threat of having access to their property revoked , arbitrarily .
Are you using it within your businesses ? Yes , we have piloted a program to accept crypto payments in USDC which is a dollar-backed stablecoin on the blockchain . We ’ ve programed the payments in such a way that the percentage of the transaction that would have previously gone to the credit card company now goes to the coffee farmer via the blockchain .
What are the key features and components of blockchain technology ? Blockchain is the “ internet of money ”, if you asked
someone in 1995 what is possible with the internet , it would be hard to imagine the world we live in today . That same sort of innovation is happening at a rapid pace , somewhat behind the scenes as it relates to data and finance . Decentralized apps ( dApps ) are being built on blockchains to facilitate all sorts of things , from insurance to record keeping ( the California DMV recently put their car titles onchain ) to art and so on .
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