Let’s Buy a Bank
It doesn’t take much effort to learn one of the biggest struggles facing start-ups, medium-sized, and even some large Crypto-Currency and Blockchain based businesses is banking. While much progress has been made, and much enthusiasm exists, it still remains that banking, for the average "crypto-company" is a difficult, if not all-together impossible, challenge.
This year, we want to put together a plan of action, supported by the general crypto-community, to solve the problem once and for all, and permanently. It is not going to be an easy task. It requires a great deal of work, community support, and high-level advice and/or representation.
But it is an achievable goal.
Alt Convention is a gathering of investors, innovators, merchants and consumers throughout the world of what we call "alternative finance". It will take place this year from October 8 through October 10 in Batumi, Adjara, Republic of Georgia. We are working to ensure many high level government officials and banking industry persons are at the event, working face-to-face with crypto people. The core, central focus, is to establish a government and banking regime that is friendly, open, and engaging with crypto-currency and other "alternative finance" business.
We want you to be involved.
Anyone that takes even a little time to peruse various alt-currency forums will see the crypto-community is a vast assortment of highly intelligent, creative, thoughtful, and optimistic people. Among this community are some of the greatest thinkers and problem solvers on the planet today. And we are absolutely certain that an effort which funds, enables, and supports a collection of these incredible people would be able to solve the "banking problem" without failure.
So what is the game plan?
It is to create an organized effort, with a plan of attack, with plenty of funding, and with the proper personnel to achieve the end result. We propose a community, public domain project. There are some great ideas and opportunities to explore. There are numerous things to be thought-out, vetted, debated, and voted upon. And in the end, we are certain there is an actionable solution.
Throughout 2014 the crypto-community has suffered, in our opinion, a grave problem. Our assessment of the community as a whole is that it is becoming a frayed, disgruntled, and cliquish society. Be honest with yourself as you ponder the next question. When is the last time you remember the crypto-community as a whole supporting and engaging in the advancement of a core concept or principle?
The truth is, it has been a few years. We are all fighting against each other, pulling each other apart over philosophical arguments in favor of "proof of stake", "proof of work", "side-chain", "off block chain", "privacy", "compliance", etc. etc. etc. And while the community is fraying into thousands of cliques without a cohesive mission, giant corporations and foundations are forming to centralize and control the Blockchain.
It is feasible the very banking industry Bitcoin was created to revolutionize could become the industry that gains control over, and centralizes the Blockchain. If you doubt this, take a bit to look at the latest rounds of funding of various Bitcoin giants. The "gene-pool" of investors is pretty condensed. And worse, they are extremely embedded in the existing finance establishment. Is this the vision we all wish to achieve for our beloved virtual currency?
Or, would we rather an alternative?
Bitcoin was not created to birth a rebellious society. It was not created to harm or cause animosity. Rather, it was created to offer alternatives, freedom, and independence. It was created to facilitate an already existing process in a better, more efficient, and more desirable way. It is because of this that we have pulled ourselves into multiple theoretical, philosophical, and moral directions. It is because of this that governments, regulators, and existing financial institutions have taken notice and begun to develop their own game plans.
Bitcoin has birthed numerous "crypto" concepts. It is no longer just about financial transactions and payment processing. However, the adaption of wide-spread use of the technology is most easily achieved through its application in financial transactions. And this wide-spread adaption is extremely difficult without the innovators being able to operate between the crypto and real-world financial systems.
This is a problem that must be solved. And it can ONLY be solved when the entire crypto-community comes together as a whole, with a well-funded, well thought-out, well deployed game plan.
The organizers of Alt Convention are a group of individuals that enthusiastically believe and support crypto-currency. We understand and whole-heartedly desire that this incredible technology has the potential to elevate society to a much higher, freer, and more desirable level. But to do so, we must moderately transition from the age-old systems and establishments into the norms and establishments of tomorrow.
As we have discussed many issues facing the industry, so that we could put the focus upon solutions, we have come to understand that opening the path for crypto-business to engage with established banking is the core issue that must be resolved if there will ever be mass-adoption. Without this core business operations process, we feel it is an impossible pipe-dream that the various goods and services possible through "crypto" will ever be used by more than a small, marginal segment of the population.
Let’s Buy a Bank.One of the more feasible solutions offered during our discussions is actively, as a community, to engage the current establishment. As a community, we have the intelligence, ability, and funding to jump into the real-world game of banking. Why don’t we?
It is possible, if we all come together and support one cohesive effort that we could actually engage and influence the resolution of our industry hurdles by being a very active participant in the industry. We have incredibly brilliant solutions already at our disposal. We could form a decentralized autonomous corporation and pool the funds, voices, and power to enable a solution. We could hire and engage experts in government and industry to represent and speak our voice. We could vote, and act, and react as a community together in such a way that change and progress abound.
We could come together and form an effort to buy a bank. It is not an unachievable goal. It is actually a rather easily achievable goal. There are real-world, brick and mortar banks that are fully established, fully operational, and fully connected to the global monetary system that are available for purchase less than the money that changes hands in the crypto-economy many times a day. It would be far easier for a bank to decide to work with, and put their energy and compliance efforts into the engagement of crypto-business, if the very owners of the bank were the crypto-community. A community that NEEDS to own a bank.
Now, before we go too far with this, let us state this is only one of the solutions proposed. There are many creative ways our community could come together and solve our greatest problem. We need to openly discuss, debate, and act upon ideas until we have a plan we can all support. But it is fair to say some of us really like the idea of buying a bank.
A Well Thought-Out PlanThe most important feature of the solution to the banking crisis for our industry is a well thought-out plan. Therefore, we have decided to establish multiple round-tables, panels, open forums, and other meetings every single day at Alt Convention for this very purpose. We are inviting high level government officials from various regions, high level banking industry experts, and other important individuals vital for the input and guidance required to create an achievable game plan. We are calling on the crypto-community to participate. We need you to be engaged. Your intelligent and creative input is vital to the formulation of this plan.
Please come and be an active participant in these discussions.
A Well Formed TeamIn order to execute the game plan, we need a well formed team. We need team members who are respected, influential leaders in the world of finance. We need team members who are respected, influential leaders in the world of government and regulation. And we need team members who are respected, influential leaders in the world of technology, especially Blockchain and other crypto technology.
Our desire is that a team of such magnificent construction can be established, elected, and authorized to act through the various days of Alt Convention. If you are a person who can contribute to this team, we want you engaged at Alt Convention. We need you to come and lobby and debate and show why you are the person to be elected. We will form our team and enable them to act, and we will select the very best we can.
A Well-Funded OperationThe only way this well thought-out plan can be executed by this well-formed team will be for them to be well-funded. Therefore, we will actively strive to establish the necessary funding over the next several months. The creators of Alt Convention have already come together to pledge funding that could be well into the six figures and will announce their contribution at Alt Convention. Various high-net-worth individuals are also being invited to Alt Convention to consider supporting the effort that is established by the crypto-community at Alt Convention.
In addition, we need to develop a crypto-community fund where any person on earth can contribute and support this effort. We are reaching out to the crypto-community for the ideas and proper protocol that will achieve this in the best manner possible. We want to allow anyone on earth to contribute to this fund and have a voice in the development of our game plan and the nomination/election of the team members.
With the combined funding of the creators of Alt Convention, high-net-worth investors invited to the event, and the greater crypto-community, we are certain there will be a large-scale fund established to be deployed by the team that is nominated and elected at the event. Once the team is established, the keys to the fund will be handed over to them. And they will begin to execute the plan.
Your Input and InvolvementWe need your input. We need your opinions, objections, ideas, suggestions, etc. But most of all, we need you to be involved. Help us flush this out and get the concept moving forward. Help us establish a list of topics to be discussed, debated, and acted upon at Alt Convention. Let’s nominate and engage individuals that could potentially construct the team. Come to Alt Convention. Get involved. Contribute. Help us solve the banking issue for the crypto-community forever.
Who knows? We may all come together and buy a bank…
http://altconvention.com
