What started as a group of cryptocurrency enthusiasts coming together for coffee has become a new nonprofit in central Minnesota that is useful in educating the community and helping connect people. with resources to learn more.
The MN Crypto Council held its first event in St. Louis. Cloud Financial Credit Union on Tuesday night. Alex Schoephoerster, an attorney at Moss & Barnett and board member of the MN Crypto Council, said the group’s immediate goal is to organize more events, especially roundtables on related topics such as mining, NFT, legal and regulatory space around crypto. . The board sought suggestions on the topic from attendees, and Schoephoerster said he would like to hear from others about their interests in crypto and any expertise that people can give to others in the field of cryptography.
“Our goal, basically, is to empower you to drive change and growth in the community by educating you about what space is (and) applying it to your businesses,” Schoephoerster said.
The nonprofit aims to help individuals invest wisely, help businesses understand how to use cryptocurrency to build their business models, and make sure government officials understand the world of crypto. .
“There’s always pushback, and often people don’t get it,” Schoephoerster said, referring to past skepticism about crypto and, in a broader way, the advancement of technology in the industry. financial.
Then:5 Under 40 winners quietly put the community first by partnering with Big Brothers Big Sisters
Schoephoerster said now is an emotional time to get into the cryptocurrency space. Venture capitalists will invest more than $ 33 billion in blockchain and crypto startups in 2021, according to research firm Galaxy Digital Research. That’s more than all of last year combined. A Federal Reserve study found that 12% of American adults will be holding cryptocurrency by 2021, almost all of them (11%) as an investment.
Ledge Wealth’s financial planner Marshall Grams said that as an investment manager he saw cryptocurrency as a new asset class that could not be ignored.
“Just because crypto is scary, because it’s speculative, just because it’s volatile, doesn’t mean no one is going back there, or it shouldn’t be. It’s inevitable,” Grams said. “There is only a risk. It’s about risk management. And it comes down to being educated.
According to Chase Larson, board member and chief loan officer of St. Cloud Financial Credit Union, more and more financial institutions – including its employer – are looking to use cryptocurrency in their business models.
“People get caught up in the ‘get-rich-quick’ thing, right? You want to invest and you want to get rich, but I really think the value that bitcoin, cryptocurrency, and blockchain will bring is more than just the level of investment, ”Larson said.
Part of the evening also translates to a presentation and Q&A with James DonFrancesco. He is co-founder and CEO of NextGem, a company that helps trading card enthusiasts scan, share and discover rare cards.
People who benefit from connecting with MN Crypto Council can find out more about its events at www.mcryptocouncil.com or on the nonprofit’s Facebook page.
Board members encouraged attendees to continue learning the language and intricacies of cryptocurrency.
“You just have to really go to the rabbit hole and learn,” said Andrew Deters, Innovative Office Solutions board member and account manager.
MN Crypto Council board members include Schoephoerster, Larson, Grams, Deters, and ZenLord Pro co-founder and CEO Tom Spaniol.
Sarah Kocher is the economics reporter for St. Cloud Times. Contact him at 320-255-8799 or firstname.lastname@example.org. Follow him on Twitter @SarahAKocher.
Support local journalism. Subscribe to sctimes.com today.