This is huge. I didnt see this.
University of Wyoming going to earn revenues through staking of cryptocurrency.
The state approved $4 million to have it done. Just think if what we can do if this concept starts to take off.
There is a lot of potential. Hive is really starting to position itself very well for all that is taking place.
https://decrypt.co/69390/university-wyoming-generate-revenue-crypto-staking
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I love Wyoming. A trailblazer state. Showing governments around the world not to fear crypto.
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They see an opportunity to really open up the gates and jumpstart things for the state. While the rest screw around, they are taking the lead. They will bring in millions in fees for the LDAO or whatever they are called.
It is a very smart move.
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Well the staking will probably depend on where they are putting it. If its something like stable coins in places like BlockFi and etc, then yes they can earn a decent amount. As for Defi, I would be worried about where they put their money.
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I am sure it is not going to be a risky, unknown and newer DeFi platform.
We can probably bet it will be fairly conservative.
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this is one of the things I was wondering about in my latest post.... if I was to try to start a charitable community fund using Defi for peoples donations and paying 'volunteers' with the harvested interest as well as offsetting various costs for the community/consumers, what would be the best DeFi strategy and what kind of setup could i use to make it a trustless system of distribution?
https://leofinance.io/@basilmarples/dao-charity-permaculture-farm-thoughts-please
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Very promising. I hope they include a few courses on blockchain and crypto. It would make sense since they are getting in this universe themselves.
It could really help to educate people about crypto.
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LOL going to school to learn about crypto.
Talk about a waste of money.
Here is the first lesson, drop out of school and save on the student loans. Take the money saved and buy Bitcoin.
Taskmaster rules of economic schooling.
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lol I'm all for that but since the poor souls are there already, they might as well get something for their money
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That is true.
They already are hit with the student loand debt.
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I think staking is a good idea. Fairly risk free if you are doing a stable coin. And you are getting much higher returns than any savings account can give you. I'm slowing moving my fiat savings out of banks and into staking. Haven't quite made the jump to DeFi yet as I'n still trying to understand all the steps and the risks involved.
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DeFi is not much more risky than traditional financial institutions. Just look at what happened in 2008.
One must beware of the potentials for rug pulls though. So you are smart to research before jumping in.
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Different kind of risk depending upon where you are.
There are safeguards in place, up to a certain limit, that does protect people in certain instances. For example, the money in banks up to a limit are covered by FDIC.
Of course, there was no protection against them taking the market and killing a lot of stock along the way.
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That is very true. Everything is a risk though. What happens if the FDIC goes bankrupt? Not probable, but it is possible.
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new incentive... want to see more of this in the coming years. universities are the highest institutions for learning and knowledge. they should be pro crypto
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That is totally wild. Cryptocurrency and blockchain are really mainstream now with all of the adoption going on. For an entire state to embrace the technology and its financial applications is ground breaking.
Wyoming is pretty progressive though (not in the political sense). Maybe more Universities around the United States will follow suit? Only time will tell.
This is much like how more and more States are adopting the legalization of marijuana. The potential of revenue is too hard to ignore. My sister just got approved and now has her marijuana card for Pennsylvania.
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