EDMUND MCCORMACK | DCHAINED

What do kids playing neighbourhood soccer and Bitcoin have in common? The technology behind cryptocurrencies has a remarkably similar trust and verification structure as those kids saying whether a goal should be allowed.

Edmund McCormack is the founder of the crypto-education platform DCHAINED. He's committed to helping everyday investors understand Bitcoin, cryptocurrency and blockchain technology. This world can often feel complex and intimidating but DCHAINED utilises proven online education technologies with an enthusiastic community of experts to help clarify the nebulous world of crypto investing. Edmund has years of experience developing business strategies and executing revenue and operational frameworks at leading tech companies, most recently at Apple.

What is blockchain?

Blockchain is commonly defined as a distributed ledger that records and stores information or data. It is a decentralized network with no central authority. Information stored on the blockchain is transparent and immutable. Read more here at Blockchain for Dummies: What Is Blockchain? (dchained.com)

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EPISODE TRANSCRIPT

Edmund (5s):

If you're playing soccer was a kid and you played soccer on the street, or football or rugby, and you had a dispute over the score, you couldn't just convince one of the kids on the street that the score was two to one. You had to convince everybody. And that's sort of a juvenile sort of basis of what's called consensus. And that's really what blockchain is built around. Now, it's a little bit more complicated than that. But really, it's centered around, you need everyone who's going to verify, confirm and ultimately provide that authenticity of the accuracy of that information.

Phil (36s):

Hi and welcome back to Shares for Beginners. I'm Phil Muscatello. Are you as confused as I am about cryptocurrencies, blockchain and Bitcoin? There's a ton of conflicting information, attention grabbing headlines, Twitter feeds and unqualified sources that can lead to manipulation, confusion, and high risk trading. My guest is here today to shed some light on this complicated and often intimidating sector. And to also show how blockchain is not just about new currencies, but an integral part of how businesses will be operating now and into the future. Hello Edmund.

Edmund (1m 8s):

Hey, how you doing Phil? Thanks for having me.

Phil (1m 10s):

Thanks for coming on. Edmund McCormack is the founder of crypto education platform Dchained. Tell us a little bit about yourself. What brought you to this point in life?

Edmund (1m 21s):

Yeah, I've been investing in crypto for 10 years but before that I had spent 15 years in the tech industry working at places like MySpace, way back in the day, all the way through Apple to this point now where we're at this impasse, at least in the tech world, in terms of where we go from here. And it's been really exciting teaching people about not necessarily the speculative parts of crypto, but more so the technology companies that are coming on board and using this technology. Because I think it's going to make a massive, massive impact in our everyday lives. And we're witnessing it right now.

Phil (1m 59s):

So this impasse that you refer to, is that why you started Dchained?

Edmund (2m 2s):

Well, it was a big reason why I did, yes. Because for one, there's a big movement globally around consumer privacy and it's happened a couple of years ago. And once that ball started rolling, ultimately we started to see more and more legislators come on board, even self-imposed restrictions in the tech sector, like Apple. And as we continued, sort of, to this point, we've seen this line in the sand between the companies who are getting a lot of this information and what could happen if that information gets in the hands of the wrong people and others who say we want to be able to invest in future technology.

Edmund (2m 46s):

But that future technology like AI or like internet of things, having more devices connected all around us is going to require a different type of model than allowing Google and Facebook to basically gather everything about you. So, especially with Facebook going out for six hours yesterday, I think that woke a lot of people up.

Phil (3m 5s):

And that's a great example of the "internet of things" in operation because they couldn't even get into the offices.

Edmund (3m 12s):

They couldn't, no. And you know, this is something that, again, that's somewhat benign use case; can't open the door, maybe get a coffee for a couple of extra minute., But what happens if that data is used in a way that could be dangerous? What happens if I had access to that data? And I knew by you not getting into your office, that you inevitably were not home. Then all of a sudden you run into a scenario where someone could, you know, burglarize your home because they know that you're not there and following your location. So without going too much down the Black Mirror path, you know, it became apparent that things had to change. And fortunately, there were a lot of the undercurrents already in place to help bring us to this space that we're in now, where you have companies who are finding ways to tap into data sources that can make a pretty profound impact on healthcare, on transportation, energy.

Edmund (4m 10s):

And a lot of that has to do with this underlying technology called blockchain. And that's something that at Dchained from the education side, we take a lot of time to try and teach people about it. And just to learn about the technology, learn about those companies and ultimately let them make decisions for themselves if this is something that interests them.

Phil (4m 30s):

So we'll start with blockchain. And I was reading one of the sections on the Dchained website that was explaining how blockchain works. And I've got to say, it's one of the clearest explanations I've seen so far in this space. Can you just give us a quick run through, but we will put a link in the blog post in the show notes to that particular source because, you know, people might want to reflect a little bit longer and teach themselves a little bit more about how it does actually work.

Edmund (4m 58s):

Yeah. So blockchain, think of it like something that's been around for thousands of years: a ledger. So basically, it's something that keeps track of all the credits and debits, just like your credit card.

Phil (5m 8s):

Just like they used to have stone tablets in ancient Mesopotamia with account records. It's a ledger, isn't it?

Edmund (5m 15s):

Exactly. That's it. And the big difference is that rather than having all that data then stored on one server or one computer, which could get hacked

Phil (5m 27s):

Or one stone tablet

Edmund (5m 27s):

One stone tablet, there it is

Phil (5m 29s):

Which is pretty un-hackable, really, when you think about it.

Edmund (5m 33s):

Unless you have a chisel.

Phil (5m 35s):

Yeah.

Edmund (5m 36s):

But ultimately you have this record that could be stored in a way that it's distributed to everyone who's connected to this overall chain, this network of people. And ultimately, once that transaction is added to other transactions, it's, what's called encrypted. So there's all this high protection put around it. A password, is probably easier way to explain it, that is so long that inevitably it's un-hackable. Just the length of these passwords, it would take you billions of years to actually break it. And in order to do that, you would actually have to break every single transaction before then.

Edmund (6m 19s):

So you're talking about something that just impenetrable. Nevertheless, the reason why it's become so important is, aside from a lot of the use cases that we hear from a financial standpoint, if you just look at things that it could have a big impact around like titles to land, you know, and ultimately having accurate records around. Did your home get an inspection during this set year that you're stating to the government? That's a big problem in the US. I think I heard a stat that roughly a quarter of all the titles to homes in the US have inaccuracies in them. People fudging the numbers a little bit.

Edmund (7m 0s):

And this is where you start to see big impacts because you don't have instances where people could manipulate the numbers. So the Bernie Madoff's of the world, the more of those things that you hear on the seedy underbelly of the finance industry. That all becomes exposed and it becomes more transparent, it becomes un-editable. And ultimately, because there's a record that you can always trace back to, it's accountable. And there's a lot that you could do with that, both in terms of, from a business standpoint, from a public health perspective, especially around food and food safety and knowing what you're buying is what you're actually getting, all the way down to, you know, being able to use data and access data.

Edmund (7m 47s):

But do it in a way that's respectful of privacy for the consumer, but also allows those companies who are looking to innovate and need that data to access it so that we could start really getting into what is the next phase of tech. And that being more computer-based systems, AI and again, those are some of the things that a lot of people like to talk about because they'll make impacts on our lives.

Phil (8m 15s):

So the use case that people know about blockchain so much about now is, really, Bitcoin. So this is not a conversation about cryptocurrency and buying and selling cryptocurrency, but we really should address what is Bitcoin and how blockchain has enabled that.

Edmund (8m 33s):

Yeah. And I appreciate when we first talked, Phil, for your listeners, we talked about what are we going to discuss on the show? And one of the things I said, I think even I beat you to it. I don't want to sit and pump coins. It's not something that I like to do, you want to hear, or your listeners want. So I'm really happy to be able to talk about the tech. But, you know, think about this, you know, when it comes to Bitcoin, a lot of people think about the money side. But oftentimes a lot of people forget that it's a blockchain. Bitcoin is a blockchain. And it was the first blockchain. Now the technology that it used was not new. It used an operating model that had been tested by Cambridge University, about 10 years before, as a way of trying to stamp out spam email.

Edmund (9m 19s):

Didn't work. But inevitably what it did create was this standard for how money can get transmitted over the internet. And if you just take a step back and you hear that for a second, there's a standard if you want to buy a domain name, there's a standard for when an email is sent, even recording this interview, there's a standard for the audio and video and streaming of it. But there was never a standard for money and it's mind-blowing. And it was approached initially by Elon Musk and Peter Thiel. When they got together in the nineties and created PayPal, they realized that the finance industry was just too big of a Titan to take on and it was too laborious.

Edmund (10m 2s):

So they went in a different direction and I think we can all agree, it worked out well for them. But ultimately those undercurrents stayed in place. And fortunately in 2009, there was someone or a group of people, because that identity was never revealed, who took that model of how do we create really democratized information that's secure and also can be used as a way of creating an entirely new economy, global economy. And that's where, you know, sort of, the Genesis of Bitcoin came from.

Phil (10m 39s):

And of course, cryptocurrencies, we'll just talk for just for a minute longer about cryptocurrencies, to buy and the sell or transact with cryptocurrencies, you would use a crypto exchange. Is that correct?

Edmund (10m 51s):

Today you can. When I first started trading, it was October 2011. So coming up on 10 years now, actually think it's going to be in two days when I first bought. A little bit of a different scenario, it was just Bitcoin at that time. And there were no exchanges that, at least in the United States and Canada, that you could tie to any bank. So in order to buy Bitcoin, I had to go to a Western Union in a drug store, wire money internationally to a name that that person behind the desk clearly knew. I had no idea who that person was. And then that organization then would put money into an account for me on this exchange called Mt.

Edmund (11m 34s):

Gox And that was the process of just buying it. Selling it just as tedious. But since that time, you've seen the overall crypto market mature. Mature from its original use cases and whether you agree or not with what that cryptocurrency was being used for, it did show, and as a baseline, that it could be used as a medium of exchange. So it showed that there's a marketplace and this could be used as a currency. And it evolved into what it is today where you have banks now filing for registration and approval to offer financial products featuring cryptocurrencies.

Edmund (12m 14s):

So it's come out of the shadows, but it's also important to note that this is an asset class that's 12 years old. And like any 12-year-old, it's still not there where it's fully mature, where it's going to have, you know, the stability, the, sort of the, adoption, the buy-in as equities as precious metals, et cetera. But there are, you know, very positive signs coming into the market; the institutional investors, the regulatory and compliance that are happening now around it. There's a lot of really positive momentum behind this asset in general. But for your listeners, just to realize it's far from perfect, it's going to take years to even get to that point where you don't have a lot of the wrinkles ironed out.

Edmund (13m 3s):

So have patience, it's still early. But it's also really exciting because you're sort of getting a glimpse of really what the internet was like back in the late nineties; you knew it was going to be something special

Phil (13m 13s):

Who knew where it was going to go

Edmund (13m 15s):

Yeah. You just had to wait a little bit.

Phil (13m 19s):

Yeah. Financially, it's also a product that is enabling trade in countries that don't have a stable Fiat currency currently as well. So there's a lot of people in developing countries that are using this and able to transact business and build up their own capital markets with it really on the side.

Edmund (13m 43s):

Yeah. And it's a phenomenon that I wish had a little bit more attention. Because, you know, many people in developing countries based on which country they're in, there's a lot of socioeconomic, political, natural challenges that they face based on the terrain and the environment that they're in. And in many cases, they all have a common denominator that they have a somewhat weak or struggling financial system. So you can't just put money into the chase on the corner. So what a lot of these people have to do is either hold money or hold value in something that's perishable: cattle or a piece of land that if the harvest doesn't come in, they're screwed.

Edmund (14m 24s):

And it's something that really is not scalable and it locks people into, you know, sort of this cycle of generational poverty. And it is something that's really somewhat fixable because if you look at these populations, while many of them don't have access to a bank account, a vast majority of them have cell phones. And this is the phenomenon that I was alluding to because the cell phone manufacturers, especially in Southeast Asia, were fantastic at getting affordable cell phones and flexible wireless connectivity to these individuals. So you saw this sort of black, gray market happened where they were trading using cell phone minutes.

Edmund (15m 8s):

So there's a, this already built in adoption

Phil (15m 11s):

A ??? Currency just developing of its own evolution.

Edmund (15m 13s):

Agreed. And now all of a sudden you give them this opportunity to buy something that not only gives them that store value that you could trade much more freely in many more places, but also these are, for the most part, people who are not right now participating in the global economy in general. You might introduce several billion people now to e-commerce, to really everything that we take for granted many times online, this now gets opened up to them. Human rights opportunities for them from a financial standpoint as well.

Phil (15m 46s):

Yep. And the inequality, the flattening out of inequality as well, and bringing up people who really need it.

Edmund (15m 51s):

Certainly it's not going to be the silver bullet, but it certainly will help.

Phil (15m 55s):

And it's going in the right direction. So I was really interested in the data point that I read in one of your blog posts about the, every human is generating, what is it, 1.7 megabytes of data every second.

Edmund (16m 13s):

It's a, it's scary. And this is part of looking at (the) current model right now

Phil (16m 17s):

Yeah, where did you find this data?

Edmund (16m 19s):

Well, I think it's actually old at this point. You know, I wrote that a few months ago and I think it's even more with 5G rolling out at a much more widespread pace than when I was writing that. I think I would even go as far to say that it's well north of that. But think about it. Every day you have, for most people, several connected devices within arm's reach. Not just your cell phone or your computer, but we're talking about a nest in your home, your refrigerator, your car. There are many, many devices now and it's only going to grow as 5G comes online and it's distributed more widely around the world.

Edmund (17m 1s):

They're going to be many, many more devices. And ultimately I read a stat that the average person will own, within the next 10 years, upwards of 40 connected devices for every one person. Now that is a little scary because to produce all of that is also, you have to think there's only so much minerals and metals in the ground. How are we going to do that? But from a data standpoint, a lot of it has to do with how much privacy do you have? Is privacy even important? Now I say that from a somewhat privileged position right now, you know, I live in a country right now where it's not being used, where I walked down the street and I might not be able to shop in a certain store.

Edmund (17m 44s):

I might not be able to get access to a certain type of loan because I tweeted something online, because my social score wasn't high enough. And without saying which country is doing that, that is a real thing. That is something that is being done at wide and grand scale at the moment. And these are things that can become scary. We've seen, just in the last a hundred years, how many leaders have come up and ultimately devastated countries, devastated populations around the world. Now, if you give them something as really as powerful as data on their people and arm them with, how do you now manipulate this, things can get really dangerous.

Edmund (18m 28s):

And you don't have to look much further than what's happening with hackers. Where a hacker will take down an energy grid. And while your lights might go out, so does that hospital down the street. Or when you shut down the energy grid, there's no more oil to pump gas out of the ground. So now that's going to shut down and transportation. Then all of a sudden things get real for people.

Phil (18m 54s):

Pretty messy.

Edmund (18m 54s):

Yeah. And how do you avoid that? Well, you avoid that because right now, all that data, all that access sits on a server. Your medical records, one of the easiest and most vulnerable places for hackers to attack are these local health clinics who don't have money to boost up their security. And what they do is, unfortunately, they steal the records and they hold it as ransom. And with blockchain, what this does is it says, "Look, take this data, take it off these central servers, put it on blockchain, where it's encrypted."

Phil (19m 30s):

Encrypted, and distributed across a whole range of services.

Edmund (19m 34s):

Exactly. And that's important because if someone comes out, and I'm really happy you said that because being distributed means that someone just can't come forward with a counterfeit and say, "This is the legitimate copy of it, it's a legitimate version." Because all you need to do is then go back to the blockchain and say, "Actually that's not." And, you know, I have an analogy that a lot of people done well with them, where, you know, if you're playing soccer was a kid and you played soccer on the street for football or rugby, whatever, and you had to dispute over the score. You couldn't just convince one of the kids on the street that the score was two to one.

Edmund (20m 15s):

You had to convince everybody. And that's sort of a juvenile, sort of, basis of what's called consensus. And that's really what blockchain is built around. Now, it's a little bit more complicated than that, but really it's centered around: you need everyone who's going to verify, confirm, and ultimately provide that authenticity of the accuracy of that information.

Phil (20m 38s):

Yeah. So business and enterprise going forward, there's more use cases that this is going to be enabling and allowing, tell us about some of those.

Edmund (20m 48s):

So from a business standpoint, it becomes interesting. Because as an investor, and I'm thinking about publicly traded companies, one of the biggest challenges is how do I know that the information that I'm looking at when a quarterly earnings report comes out is an accurate reflection of the financial health of that company? Now, for most of these publicly traded companies, they put out four reports a year and they provide as little information as they have to, to appease analysts. And it's not that hard to really hide numbers. You put it into certain buckets, you hide it in certain line items and you hope that it doesn't gain, sort of, the light of day.

Edmund (21m 32s):

With blockchain though, what if those figures are available 24/7? And it's a living breathing record that you can then see, is this company being properly managed? Are there warning signs should I be aware of? Growing debt? So it becomes, from an investor standpoint, very valuable in terms of understanding whatever company that you are investing in, not just blockchain based. Any company on any public secondary market. Once those records eventually move on to blockchain. But it also provides an opportunity for new businesses to come in and really be a disruptor. I heard a, this old analogy where as a kid you're told to not get into a stranger's car.

Edmund (22m 18s):

Well, skip ahead 25 years, you not only pay to get into a stranger's car, you stay at their home, you have them deliver food to you and at the same time, you're also going to let them come into your home and walk your dog When you're at work. These are things that as technology changes, as we go from this model of "trust us" to "we're going to allow the objectivity of blockchain to provide that trust and provide that service is going to be delivered as expected"

Phil (22m 52s):

That verification.

Edmund (22m 53s):

Exactly. And we moved from this area where anytime you buy something, I'm in the process right now of looking at homes, big challenges, no one wants to allow you to inspect their home. I have to trust that you're going to do the right thing, that you don't have a leaky roof that you're trying to hide on me. There's always a seed of doubt in people's minds. What if though, you had the opportunity to make a purchase where if certain things were not checked off, if the home didn't pass these inspections over the years, it wouldn't allow that transaction to go through. So I don't have to trust you as the owner anymore. I trust the records that are keeping track of that real estate that you own.

Edmund (23m 33s):

These are things that ultimately we're moving towards. The internet helped us connect to anyone in any corner of the world. Blockchain is going to help us address the trust issue. I don't need to trust the other person on the other side because we're now going to allow the figures, the facts, the records dictate this transaction.

Phil (23m 52s):

Can you talk to us a little bit about Ethereum? Because the Ethereum apart from being a cryptocurrency, is, apparently from what I believe, is a technology that allows a lot more of this business case usage and enterprise case usage.

Edmund (24m 6s):

Yeah. And I think it would be good also just to define cryptocurrency and token. Because I think a lot of people confuse those two. While they seem interchangeable, there are slight differences. Cryptocurrency is a virtual digital cash that is native to a blockchain. Generally there's only one cryptocurrency for every blockchain. So Ethereum, which is ETH, is a native currency for Ethereum, Bitcoin for Bitcoin, Solana for Solana. Now a token is issued by these companies or projects or developers who are building on an existing blockchain.

Edmund (24m 48s):

So think of Ethereum as the app store that Apple built. Except this app store doesn't require a big organization to sit over top and manage overhead; it's self-sustaining. And on the app store, that being Ethereum, you have any developer or company who could come in and build an app; whether it's a fitness app, a music app, what have you. And this is really where Ethereum has tried to carve its niche. While Bitcoin could be a store of value and could be comparable to, you know, many precious metals, Ethereum wants to be the backbone for, really where blockchain technology will go.

Edmund (25m 30s):

And ultimately all the new projects that are built around blockchain technology. So it's more on the utility side and really providing that basis for the framework of web 3.0 while other cryptocurrencies like Bitcoin are focusing more on the monetary store value side.

Phil (25m 51s):

So presumably these blockchains and these distributed ledgers exist on servers which run on electricity. What happens in a zombie apocalypse? What if the whole system falls down? Is it all going to disappear?

Edmund (26m 3s):

Well, I think we'll have a lot of questions to ask about everything.

Phil (26m 7s):

Nothing will work. Yeah.

Edmund (26m 8s):

Where are we going to get our food? But it does require electricity, but there are know many blockchains that are quote unquote, environmentally friendly. So they're not heavy consumers of electricity. In fact, there's more blockchains than not. Really at this point there's one, being Bitcoin, that's really just sort of a electricity hog. The rest of them operate with pretty low amounts of energy required based on the models that they all run on. But effectively it's a system where what happens if that server, and really the internet that we use today, is basically just a network of connected servers, mostly in concentrated parts of the world.

Edmund (26m 52s):

Which is a little scary because if that part of the world goes down, there's going to be some big problems in terms of the global internet. But without going too deep into that, this is where you're not dependent on the infrastructure of one part of the world. You don't have to worry about, you know, these broadband lines running below the ocean surface. And ultimately this is something that as you start to look at renewable energy, this is an internet model that can operate very well on renewable energy. Verse, if you've ever seen what some of these server farms look like for Google or Apple or Facebook, they buy entire cities basically in the middle of nowhere.

Edmund (27m 36s):

And it's just solar farms just to try and become a little bit more carbon neutral. And part of that is because they have to feed these gigantic servers. With this because everyone can play a part in adding either cryptocurrency to operate and run these backend servers, they're called nodes, to add transactions to the blockchain, so you could do it with a cell phone, or if you're using this as a commercial opportunity, you could run it on your desktop. You don't need to have a thousand computers all in a warehouse anymore to run it out in Iceland or in central China.

Edmund (28m 16s):

This is something that's becoming a lot more scalable. And it's very similar to when the PC, which used to be the size of an entire room, shrunk down in something that you can now put on your desk in your home, in the nineties. We're getting to that point now where we'll start to see this become more distributed and a bigger part of sort of our every day. Mostly not even realizing that it's becoming a part of our everyday.

Phil (28m 40s):

Tell us a bit more about Dchained and what listeners can find on the Dchained website.

Edmund (28m 47s):

Yeah. So Dchained was sort of my revolt, a little bit, against my background in tech. Partly because having been in crypto for a while, I could see very clearly this is something that is going to have a pretty dramatic impact on business, on government, everyday lives. But in saying that, while everything was sort of looking really positive, what we saw was that a couple of years ago, we saw Bitcoin have a good run. Its price went up. And a lot of people that I knew got involved in Bitcoin and got involved in Ethereum without really much knowledge of what it was. And up to that point, the crypto space was really reserved for people, either in finance or were into tech.

Edmund (29m 30s):

And it wasn't anymore. And this is where I sort of had a bit of a moral dilemma because when it was great, it was great to for everybody. But when it turned, ultimately those people who didn't really know what was going on or didn't understand the fundamentals, they were the ones who were left on an island where their portfolio lost 80% of its value. And there were warning signs all along the way. And what I wanted to do was create a platform that not only provided all of the information in a very easy to understand way, but also provide it in a way that is sequential so that people understand "this is tied to this, this is why this behaves in that way".

Edmund (30m 14s):

Because in many cases, people just don't know what they don't know. So to present it in a way that is logical, that is explaining it, but not condescending, which I also see in other platforms, and also fun. Community is a big part of any educational experience. And we certainly invest a lot in it. And we have not only the community of other investors, but we also put together, you know, virtual workshops and live Q and A's. And really, we try to participate with people who sign up and are interested in this space because for us Dchained is something that's important. It's not our primary business.

Edmund (30m 54s):

But it's one that we are keeping sort of intact because we think that it's incredibly important to, especially over the next five to 10 years, where having people become more educated, understand what this is and what this is not. And what I mean by that is in the stock world, you'll go and you'll do your homework, you'll talk to an advisor. In crypto, you'll go listen to someone on Twitter with a chicken egg avatar. And you'll take that as financial advice. It's just lotto ticket, slot machine mentality.

Phil (31m 25s):

I don't invest in anything without a rocket emoji, Edmund.

Edmund (31m 29s):

Or laser beams out of the eyes. So we wanted to help provide that one place where people could differentiate is this information, or is this really entertainment? And in many cases, especially as you go on YouTube, a lot of times it's entertainment. A lot of times those individuals creating it are getting paid. Behind the scenes someone's paying for those fancy cameras that they're using. And we wanted to be very transparent and honest with people and help people understand here's information that we're providing. It's objective. We don't make any money on whether you buy or sell more or less, or if you buy a certain coin. And at the end of day, we want to build a stronger community.

Phil (32m 9s):

And one of the key words that I noticed in, I can't remember where I started on your site, was that the information is not intimidating. I think a lot of people find this whole world intimidating.

Edmund (32m 20s):

That's actually where the name Dchained came from. So if you think about crypto it's been this, sort of, this market, this asset class that has been unapproachable, it's been sort of locked away, guarded. And we wanted to unlock it. We wanted to remove the chains, open it up to people, bridge that gap between people sitting on the side-lines and people who are in it. And ultimately Dchained came about, with that name, a play on words, but it doesn't have to be. And in many cases, people try to make it more complicated than it really needs to be for their own benefit. And we think that that's just doing a disservice for people. And we have an opportunity right now because of how decentralized it is, where you could see pretty dramatic shift in wealth being transferred across different groups of people who historically have not had that access.

Edmund (33m 12s):

And for me, I think that that's incredibly important. So this is once in a generation type of, sort of, opportunity right now that we're in. And I think that it's something that more people need to be aware of

Phil (33m 28s):

It stay chained without an a isn't it

Edmund (33m 31s):

That's correct. dchained.com come check us out. We have a number of URLs that we bought because a lot of people come to us and say, "You misspelled your name". So you can check us out at maximizeyourportfolio.com is another one. It's easier to remember.

Phil (33m 45s):

Edmund, thank you so much for joining me today.

Edmund (33m 49s):

Thank you so much. It's been a pleasure.

Shares for Beginners is for information and educational purposes only. It isn’t financial advice, and you shouldn’t buy or sell any investments based on what you’ve heard here. Any opinion or commentary is the view of the speaker only not Shares for Beginners. This podcast doesn’t replace professional advice regarding your personal financial needs, circumstances or current situation