Everyone’s probably heard of “bitcoin,” but many only have the vaguest idea about it and little understand the underlying technology. Even fewer realize the true impact this technology may have on the future. Bitcoin is a cryptocurrency. A cryptocurrency is a digital program or asset designed to work like currency. It seeks to have the following properties: a store of value, a unit of account, and a medium of exchange Bitcoin is the most popular cryptocurrency of the seven hundred out there. Other major cryptocurrencies are Ethereum, Ripple, and Litecoin.
Cryptocurrencies work via a system of paired-public, private keys - randomly generated numbers. Each user in the cryptocurrency network has a unique pair of public and private keys. The public key is a string of numbers available to everybody on the network. They are used for encryption. The private key is only available to an individual. It is used for decryption of the paired public key. The bitcoin transfer mechanism works…
An effort to boycott the Oscars has gained significant traction, even leading to "a history-making announcement by the Academy of Motion Picture Arts and Sciences about diversifying its membership.."
Simple economic analysis reveals why the Academy responded so quickly. It also reveals why the course of action chosen is likely to be less effective than many hope. Finally, it points to a more effective solution.
As noted in the charts above and below, both drawn from the 2014 Motion Picture Association of America Stat Book, Asians, African-Americans and Hispanics comprised 46% of movie ticket sales in 2014.
You don't need an MBA from the University of Chicago to know policies and practices that disrespect 46% of your customers, while several of your employees make statements that appear to channel Donald Trump's perspective on diversity, are bad for business. As I wrote in an MLK Day post, Dr. King stated quite clearly that "If you respect my dollar you must res…
1. History: Black Banking in the 80's, 90's and 00's.
2. Rationale: Why Black banks?
3. Customers: The Demographics of Black Banking.
4. Market: The Market for Black Banks.
5. Crisis: The Financial Crisis and Black Banks.
6. Opportunities: The OMWI initiative and Black Banks.
7. What to do now: Why campaigns to get minorities and other consumers in the urban areas to bank with minority banks have not worked. What will work.
8. Future: Which Black Banks will survive and why?
9. Next Steps.
Wednesday, August 24, 2016 from 4:00 PM to 6:00 PM (EDT