IPR: My Digital Self

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Summary

Zach Wildes, Community Manager of the Celsius Network, shares how Celsius is enabling the 99% to save and invest like the 1%.

Show Notes

Save and Invest Like The 1%: Zach Wildes Talks About Celsius Network’s Revolutionary Financial Services Business Model 

Celsius Network
https://celsius.network/

The Celsius Network Community
https://celsians.com/

Zachary Wildes
Celsius Community Manager 
zachary.wildes@celsius.network

2019 My Digital Self Interview with Alex Mashinsky, Co-Founder & CEO of Celsius Network
https://share.transistor.fm/s/8b913719

Alex Mashinsky
https://en.wikipedia.org/wiki/Alex_Mashinsky

Tether (USDT)
https://tether.to/

Fractional Reserve Banking
https://www.investopedia.com/terms/f/fractionalreservebanking.asp
https://mises.org/library/are-fractional-reserve-bank-deposits-money

Do You Own The Money In Your Bank Account?
“When someone opens a bank account and makes a cash deposit, he surrenders the legal title to the cash, and it becomes an asset of the bank. In turn, the account is a liability to the bank.”
https://www.investopedia.com/terms/b/bank-deposits.asp

The Federal Reserve’s Response to COVID-19
https://www.brookings.edu/research/fed-response-to-covid19/

Temporarily relaxing regulatory requirements: The Fed is encouraging banks—both the largest banks and community banks—to dip into their regulatory capital and liquidity buffers, so they can increase lending during the downturn. The reforms instituted after the financial crisis require banks to hold additional loss-absorbing capital to prevent future bailouts. But these capital buffers can be used during a downturn to stimulate lending, and the Fed is encouraging that now, including through a technical change to its TLAC (total loss-absorbing capacity) requirement, which includes capital and long-term debt. (To preserve capital, big banks also are suspending buybacks of their shares.)  The Fed also eliminated banks’ reserve requirement—the percent of deposits that banks must hold as reserves to meet cash demand—though this is largely irrelevant because banks currently hold far more than the required reserves. The Fed also relaxed the growth restrictions previously imposed on Wells Fargo, as part of an enforcement action related to widespread consumer protection violations, so that the bank could increase its participation in the Fed’s lending programs for small- and mid-sized businesses.

Cel Token
https://support.celsius.network/hc/en-us/sections/360000538817-CEL-token

Negative Carry
https://www.investopedia.com/terms/n/negativecarry.asp

Margin Call
https://www.investopedia.com/terms/m/margincall.asp

Good Article on The Traditional/Legal Duties of Corporations
https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/a-duty-to-shareholder-value

FDIC (Federal Deposit Insurance Corporation)
https://www.fdic.gov/

SIPC (The Securities Investor Protection Corporation)
https://www.sipc.org/about-sipc/

MakerDAO’s Multi-Collateral DAI (MCD)
https://makerdao.com/en/whitepaper/#abstract
https://www.coindesk.com/there-are-more-dai-on-compound-now-than-there-are-dai-in-the-world

DeFi (Decentralized Finance)
https://blockonomi.com/what-is-decentralized-finance-defi/

Ethereum ERC20 Smart Contracts
https://www.investopedia.com/news/what-erc20-and-what-does-it-mean-ethereum/

Wallets for Digital Assets (Self Custody)
https://www.investopedia.com/terms/b/bitcoin-wallet.asp

WireCard Scandal
https://en.wikipedia.org/wiki/Wirecard

Brain Wallet
https://en.bitcoin.it/wiki/Brainwallet

Financial Self Sovereignty
https://www.forbes.com/sites/alastairjohnson/2019/10/03/self-sovereign-banking-putting-you-back-in-control-of-your-money/#89c7b681f615

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This podcast has been edited for content and clarity
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This podcast is not intended to be financial advice.  Do your own research and/or seek financial advice from a reliable professional before investing or depositing your money. 


What is IPR: My Digital Self?

The mixed blessing of the digital age has reached a turning point in what some have called the Fourth Industrial Revolution. My Digital Self, with host Matthew Foley, explores digital technology as it affects the interrelation of human rights, property rights, privacy, and money.

Will emerging blockchain technologies enable us to take back our privacy, own our identity and use non-sovereign digital currency, known as cryptocurrency, to engage in commerce? Listen to discussions with guests who explain these cutting-edge technologies, tell us how they are currently being used and pull back the curtain to our possible futures.

IPR Podcasts presents issues and analysis that matter to you from the world's thought leaders. The Institute for Policy Research [IPR] is an interdisciplinary policy research center of the Catholic University of America.