I’m high right now, and I got a brilliant idea!
I just got off my phone, turned on my laptop for the first time in a while just to type this up, so hear me out.
Let me first define a term not everyone may know:
Decentralized Autonomous Organizatoin (DAO) – as defined by Wikipedia: is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. (It's basically a company, but without the C-Suite)
There should be a DAO which its primary role is to invest in the cryptocurrency market. It is governed by a combination of code and its governance token holders. Once the token holders vote on various projects, it deploys its tradeable token to buy the different cryptocurrencies. The tokenonomics can be discussed in more detail.
Why is this important:
In the traditional financial world, there are hedge funds, venture capital, private equity, mutual funds, family offices, and many more different ways rich people invest their money. These same rich people are currently trying to enter the crypto space. Currently, wealth management firms are gathering all their abled bodies to find a way to get the SEC, and more largely, the US government, to allow them to buy, sell, hold, and trade crypto for their investors. These slow-moving giants are panicking.
How do we know? Even JP Morgan is trying to enter the space – the very bank which its CEO, Jamie Dimon runs. Jamie Dimon has historically been a super bear when it comes to Bitcoin – even calling it a fraud.. Mr.Dimon if Bitcoin is a fraud, why is your company trying to gain exposure into the market? Wouldn’t that be against the best interest of your investors, who you serve?
We can take some of that market share.
Do you know of any projects that is currently trying to provide wealth management for its investors? If so, let's talk about it. If not, could someone in this subreddit start one? I’d love to be your first investor.
Again, I’m high as a kite right now, so this may all be garbage-talk. I’ll see tomorrow morning.