What the F*! is all this FINANCE **** on my Blockchain??
Here at Savage Corner, we discuss Finance topics to better understand DEFI. Knowledge gives opportunities! Join us weekly where Finance & Crypto Meet!
I’m Joseph Savage. I started learning in the blockchain space in 2013. At the time, there were very few opportunities for those of a financial bent, rather than technical. I pushed my technical limits but stayed in the finance lane.
I started consulting with hedge funds on their middle office technology stacks in 2014 and then transitioned to corporate finance in 2016 after getting married. In late 2017, after learning that we were going to have a first baby the next summer, I started my first blockchain-related business.
Steem Basic Income was launched with a minimum proof-of-concept in November 2017, as a service to facilitate account-based curation and provide a blockchain-powered ‘basic income’ to participants in the blockchain blogging movement taking place on Steem blockchain.
A few months later (after some unfortunate delays) we launched the fully-automated version of Steem Basic Income with some very unique features. That program has been running continually, with minor iteration to respond to changes in that blockchain, ever since.
In February 2020, Steemit, Inc., the primary developer and supporter of the Steem blockchain, was acquired by Tron Foundation, as Justin Sun launched a ‘hostile takeover’ of the Steem blockchain. You can takeover a blockchain, but you can’t assume ownership of its community!
The non-Steem supporters of the Steem blockchain quickly rallied together and forked into a competing blockchain formally known as Hive. The majority of programs, user interfaces, and communities within the Steem community chose to migrate to Hive and either abandoned or cashed out their Steem resources.
Rather than force a decision on the communities that Steem Basic Income supported, we chose to fork the program and immediately launched a sister company on Hive blockchain. Hive SBI has been running smoothly on Hive ever since. Everyone with a subscription to Steem Basic Income received a fresh subscription to Hive SBI (powered by the forked stake the SBI accounts received).
The two programs operate independently on their respective blockchains, and we even facilitate full migration for members to convert their membership from one program into the other at a fair market value.
Savage Corner will be a space where I share my thoughts about crypto and finance. In particular I hope to make finance more understandable for crypto enthusiasts. At the same time, I will share my enthusiasm for certain projects in Ethereum, Terra, and Hive blockchains.
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Savage Corner writers hold crypto assets and actively trade in certain markets.