Welcome to Day One of The Block, a labor of love that will be the defining project of our lives. We are passionate about cryptocurrencies, blockchain technology, tokenized securities, and the new financial technologies and new money being created at breakneck speed. The Block’s founding Editor in Chief Mark Rogowsky and I love to read, share, learn, debate, form a point of view, then question, refine and often change it. We love to share our learning in public, for the benefit of others as well as ourselves. Our approach to any new idea, product, project, company, market, technology, or ecosystem is to start at the beginning, go straight to the source, ask questions, dig through the complexity, and search for simplicity. It is for that reason that we introduce you to our guiding ethos: Crypto Simplified.
For the past decade, the cryptocurrency and blockchain ecosystem has been inaccessible to the average global citizen. Blockchains involve a highly complex set of concepts from distributed systems to cryptography to politics to economics — and so much more. They are not easily approached, explained, or unpacked. The earliest entrants into the ecosystem are true diehards, many with strongly entrenched viewpoints that border on religious-level beliefs. This is a core characteristic that has allowed cryptocurrencies to thrive against powerful forces: governments, central banks, corporations, a disbelieving Wall Street, the scorn of economists, dirty language from billionaire investors, and so much more. It has been said that money can’t be created from “nothing”, and that is certainly true. But the simple genius of Satoshi’s Bitcoin design inspired a devoted core group of believers to follow their lead, initially with little external support or validation. Satoshi has never revealed their identity, something which has protected cryptocurrency from catastrophic states and other bad actors’ attacks for nearly a decade.
Now, we enter a new era in the story of cryptocurrencies and blockchains. In the US alone, there are millions of cryptocurrency owners — globally there are tens of millions. The market “cap” of publicly traded cryptocurrencies is nearly $300B after reaching a high of ~ $800B earlier in 2018. Two of the largest wallets in the industry, Coinbase and Blockchain, both claim to have nearly 30 million accounts. The largest business media companies like Bloomberg and CNBC, devote an inordinate amount of coverage to cryptocurrencies. These are networks that give their viewers and readers what they want — in the end, they are chasing the dollars! The demand and thirst for knowledge is there; however the infovores who are seeking true learning are not being properly served.
Today’s cryptocurrency and blockchain media is sensationalistic, compromised by undisclosed conflicts of interests, focuses on celebrity vs reality, and is terribly unreliable. It’s often either technically and economically inaccurate or effectively a reprint of a project or company’s press release. Fraud, failure, and ridiculous claims are masked in a wall of complexity meant to hide, distract, and confuse. Many claims that are uttered and repeated are grandiose in a Trump-like way, meant to leave a mark on the mind, even if untrue. The Block team has watched this problem grow over the past year to the point where we simply don’t ourselves trust what we read or watch in any mainstream or cryptocurrency / blockchain trade news source.
Instead of sitting back and throwing our arms up, we aim to provide “Crypto Simplified” by introducing a trusted, accessible brand that provides real-time, credible insight, analysis, news, and information about the fast-moving, complex and critically important blockchain and cryptocurrency ecosystem. You have questions and curiosities, we have answers. You might be embarrassed to ask a seemingly simple question; we’ll ask it for you. You might just be entering the cryptocurrency and blockchain ecosystem; we will provide you with a friendly, welcoming home. And we will partner with the most knowledgeable experts and companies in the space to ensure that our coverage is comprehensive and correct. We endeavor to take complexity and turn it into clarity.
Today is Day One for The Block. We are introducing a glimpse of what is to come via the first edition of our newsletter. In the coming weeks and months, we will launch our full site, which will offer real time updates and insight on the cryptocurrency and blockchain ecosystem 24/7/365 with a global network of contributors. By early 2019, we will introduce an Amazon Prime-style subscription offering, free to college students, that will provide an incredible opportunity for everyone from crypto first-timers to 10-year veterans to network, discuss, and learn from one another. This offering will include group chat and discussion, events around the globe, expert video and audio commentary, crypto / blockchain industry loyalty deals — and so much more. We will tie this together by beginning to introduce physical The Block locations, starting in New York City this fall in partnership with WeWork, that will provide a hub for our community to embrace one another while encouraging diversity of thought, backgrounds, and involvement in our two-word mission: Crypto Simplified.
Thank you for joining us on Day One. Please sign up for our newsletter at www.theblockcrypto.com, and take this journey of community and knowledge growth with us. We believe the cryptocurrency and blockchain ecosystem will make the world a better place and have an impact on par with the internet itself. And you are the pioneers who will make that happen!
For more crypto insight and analysis from The Block, sign up for our newsletter at www.theblockcrypto.com!