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Provenance Updates

I don’t really participate in the “crypto” ecosystem beyond keeping tabs on one project. My general thesis on the overall space is that there will be blockchain use cases that definitely improve certain legacy workflows by 10x or more by virtue of the feature of stamping information to a public ledger. The use cases that Figure (and the open source Layer 1 protocol it developed, Provenance) align with where I’m comfortable (financial services) and excited to see where it goes.

Yesterday, the developer team answered a bunch of elementary questions for an outsider and I was happy to lurk and learn.

On the path of starting with high market cap (~$10B today despite being virtually unknown) and high insider ownership, then driving that down over time:

On how Provenance visibility may change in the near future:

On 2019 Provenance vs 2022 Provenance:

I’ll be watching from the sidelines. I bought a small amount of Hash, the token associated with Provenance, mostly to learn more about digital assets, to learn about staking coins to earn yield, and to have a tiny bit of skin in the game. By staying somewhat wired into an ecosystem like this, I presume that in the course of my life, there will be opportunities to buy digital assets at “value prices” with juicy real yields behind them. I’ll be ready to back the truck up when that time comes, if ever.