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Here's a quick roundup for all of you short-attention-span peeps 😉
1️⃣ Pennsylvania Is Ringin’ The Blockchain Bell: Pennsylvanian State Rep. proposed a bill to allow companies to develop blockchain-based products in a controlled way!
2️⃣ Sports Fans Can Influence Team Decisions Now: Sports fans worldwide can now influence their favorite teams’ decisions ⚽️🏀⚾️🏈🎾
Without further ado, let's dive right in and…
Get liquid 💧
🔔Pennsylvania Is Ringin’ The Blockchain Bell
The United States is made up of 50 states and within the confines of each state, there are unique laws citizens must abide by… no matter how weird they are.
For example, in Tennessee, it is illegal to share Netflix passwords.
In Virginia, you can't go trick or treating if you are older than 14 (Might be worth it to drive across the border if you are a die-hard trick or treater). 🎃
And maybe the weirdest one of them all, in Arizona, Donkeys can't sleep in bathtubs, but they can stand!
Here's a LEGAL donkey:
Anyways, the point is each state is different.
Pennsylvania is just another state creating its own set of unique laws:
Pennsylvania State Rep. Napoleon Nelson, chair of the recently formed bipartisan Emerging Technologies Caucus, unveiled a blockchain legislative package aimed at promoting the responsible and deliberative expansion of the growing blockchain industry.
Nelson had this to say:
“At present, blockchain represents a regulatory gray area, as many of today’s laws and regulations did not envision the level of technology we now enjoy. To keep our commonwealth at the cutting edge of technological innovation, I have introduced two measures that will help develop a regulatory framework to support blockchain technology in a way that both promotes business development and protects consumers.”
As we always say, if there isn't regulatory clarity, then there will be no innovation, due to firms being wary of getting into trouble.
In this legislative package, there were two proposals:
H.B. 1370, which was the first proposed bill that essentially states companies are offered a two-year window to develop blockchain-based products or services in a controlled way. Companies experimenting are required to disclose to all customers that the product is part of the experimental program.
H.R. 121: The second part of the proposed bill essentially states they will establish a blockchain working group tasked to formulate a plan for the future of the blockchain industry in Pennsylvania.
I love this proposal, as it communicates governmental bodies are open-minded to establishing regulatory clarity to foster innovation and adoption of blockchain.
Soon, regulatory clarity on all blockchain-based systems will be a thing of the past and businesses will soar! 🚀
⚽️ Sports Fans Can Influence Team Decisions Now
Just this past week, we heard devastating news across the sport's world…
Lionel Messi left FC Barcelona to play for PSG after being with FCB his entire career.
It was unfortunate news for FC Barcelona fans…
But what if there was a way that fans could have vetoed FC Barcelona's decision to trade him??
Insert Socios.com and there might have actually been a way to do that.
When Messi was transferred to the PSG soccer club, Messi received $PSG fan tokens, in order for him to become directly more involved with fans.
For $PSG token holders and other sports clubs tokens, the token grants holders the right to influence team decisions and other team-related items.
For example, these are some of the perks of owning the $PSG tokens:
“Through $PSG Fan Tokens, fans worldwide get the opportunity to choose a motivational message on the wall of the dressing room before a key game, the Goal of the Season, or the winners of the club’s end of season awards. Fans have also experienced unique, personal video calls from first-team stars via the platform, and even more exciting activations are planned for the coming weeks and months.”
If FCB enabled fan token holders to vote on team decisions, they could have vetoed the departure of Messi from FC Barcelona!
In my opinion, this is one of the coolest security token use cases - it allows sports franchises to make their fanbase feel more a part of the team and community.
Just look at Club Necaxa and their security token NFT.
Club Necaxa, one of Mexico’s top soccer league Liga MX teams, tokenized 1% of the company and created an NFT that represents the equity stake in the club.
I'd anticipate more sports franchises around the globe enabling their fans to get more involved through tokenization!
What else is Drippin’💦
Prometheum's Subsidiary, "PEATS", Receives FINRA Approval to Operate an ATS: New digital securities ATS has entered the competition!
How I Got Into Security Tokens — John Pittman: Follow Security Token Advisors’ newest consultant, John Pittman, journey through tokenization.
We’re Starting to Digitize Wall Street With Security Tokens: Mike Lingle, another Security Token Advisor consultant, breaks down security tokens!
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Thanks for tuning in! Keep an eye out each Monday for the next security token adventure 🧗♀️
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Everything in this report is for informational and entertainment purposes only. Nothing in this report should be taken as financial advice or as an inducement to purchase or sell any security. Nothing in this market report should be used as legal advice. Always do your own research before making any decisions regarding financial transactions of securities.