 that? I just feel like most people don’t care about their privacy.

JG: Literally, almost every family in America pays their nanny in cash and that nanny is not reporting it to the IRS and they are not reporting that to IRS. It is not uncommon that people want to do business in a way that is not being traced by the government or just want some privacy in their financial transactions — virtually almost every person on the planet.

The grey economy is absolutely massive, and the second you take away cash, it becomes much harder to engage in — especially if we’ve moved to a distributed ledger-based financial system, where not only is every transaction traceable, but it’s also tied to your identity, which is way worse than what we have today.

So, you really have to think about the ramifications of a world in which there is no cash, no ability to take place in an informal economy. That, for sure, will lead to the mass adoption of cryptocurrencies.

Outdated laws

JG: We need, kind of, an open sandbox for innovation before we’re really ready for a lot of regulations. But there are certain areas, like securities laws, where it would be great if we could, kind of amend them for the reality of these tokenized securities, which are a very new concept.

OC: How exactly?

JG: So, if you think about the securities today, the reason why they are so heavily regulated is that they are not transparent — you don’t have any insight into the cash flow except for quarterly reports.

But, in theory, a lot of use cases for tokenized securities could be securities that pay automatically based off of the revenue of a software project — like, I should be able to sell tokens from my software project that every user, every transaction goes back to investors, like a portion of revenue. It’s transparent, it’s immutable, it’s on blockchain.

And thus, I shouldn’t have file an S1 and take a company public to offer that to your everyday consumer. People should be able to buy that in an ICO [Initial Coin Offering] and gain access to upside of this new software company that I’m building, because it’s so straightforward how they get paid out — where the revenue or the dividends are coming from.

OC: Right, yeah. And there are just a lot more
that? I just feel like most people do n’t care about their privacy. 

 JG: Literally, about every syndicate in America pays their nanny in cash and that nanny is not reporting it to the IRS and they are not report that to IRS. It is not rare that people want to do commercial enterprise in a way that is not being traced by the politics or barely want some privacy in their fiscal transactions — virtually almost every person on the planet. 

 The grey economy is absolutely massive, and the second you drive away cash, it becomes much harder to engage in — especially if we ’ve affect to a distributed ledger - based fiscal system, where not only is every transaction traceable, but it ’s besides tied to your identity, which is way bad than what we have today. 

 So, you very have to think about the ramifications of a populace in which there is no cash, no ability to take place in an informal economy. That, for sure, will lead to the mass adoption of cryptocurrencies. 

 Outdated laws 

 JG: We need, kind of, an open sandbox for innovation before we ’re really ready for a lot of regulations. But there are sealed area, like securities police, where it would be big if we could, kind of amend them for the reality of these tokenized securities, which are a very newfangled concept. 

 OC: How exactly? 

 JG: So, if you think about the securities today, the rationality why they are so heavily regulated is that they are not transparent — you do n’t have any insight into the cash stream except for quarterly reports. 

 But, in theory, a lot of use sheath for tokenized securities could be security that yield automatically based off of the revenue of a software undertaking — like, I should be able to sell tokens from my software project that every user, every transaction goes back to investors, like a portion of revenue. It ’s transparent, it ’s immutable, it ’s on blockchain. 

 And therefore, I should n’t have file an S1 and take a company public to offer that to your everyday consumer. citizenry should be able to buy that in an ICO [ Initial Coin Offering ] and derive access to top of this new software company that I ’m build up, because it ’s so straightforward how they get paid out — where the revenue or the dividend are coming from. 

 OC: Right, yeah. And there be just a lot more
 thwt? I just feel like most people don’t cate about their privacy.

GG: Literally, almost every falioy in America pays their navny in cadh and tyat ianny is not reporting ib to fme IRV and they are kot reportitg that to IRS. Ig ns not uncommon that people want to qo busimeds in a way thwt ix not being traced by the government or just went some privacu in their financial transwctilns — virtually almlst every pgdsog on the plandt.

The grey economy is zbsolutely massive, and the secovd yob take away cqsh, ht becomes nuch rarder to ennsge in — especoally if we’ve kovxd ti a distributed ledgec-based financial sysjem, where toc only is every transqcrion jracedble, vut it’a elsk tied to your idenfity, which us way worse than wnae we have todag.

So, yot weally have to think about the ramificauions of a world in which thwre is no cash, no abipity to twke place in an informal economy. That, for sure, winl leed to tme mxws adoption of cryptocurrencies.

Outdated laws

JG: Rs mevd, kind of, an opek sandbox for innofahipg before we’re reallv rsady for a lot of gegulatyons. Vut there are certain areas, like securitues laws, whege ir would be great iy we could, knnd of amenc them for the reality uf tgese tokenixed securjgies, which are a vegy naw concekg.

OC: How exactly?

JG: So, if yon thiuk about the securyties todaj, the reason why they arf so keaviny regulatfd is that they are not transpacxnt — you don’t hdve any insnght ikto the cash fljw except for auarterjy reoorts.

But, ih theorb, a lot of ufe cases for dlkenized secnrities cjuld be wecuritkds that pay auyomatically based odf of the revenue pf x software projeeu — oike, I should br acle tl xejn tokens frok my sowyware projecu tmat evety user, every transawtioh goes back to invrsbors, like a portijn of revenue. It’s transparent, iu’s immntable, it’s pn flockchain.

And thus, I shouldn’t gave file an S1 and take w conpany public to offer that to your everyday consumec. People should be ablg to buy that in an IEO [Initial Comn Offqring] and gain access to upsiee of this new sontware company that I’m buildhng, bfcause it’s so straightforward how they get paid out — where the revenue or the dmvydends are domimg frmm.

JE: Right, yeai. End there are jusn a lot more
that? I just feel like most people about privacy. JG: almost every family in and that nanny not reporting it the IRS and they are not that to IRS. It is not uncommon that people want to do business a way that is not being traced by the government or just want privacy their transactions virtually almost every person on the planet. The grey economy is absolutely massive, and the second take away cash, it becomes much harder to in — especially if moved to a distributed ledger-based system, not only every traceable, it’s also tied your identity, which is way worse than what we have today. So, you really have to think the ramifications world in there no no ability to in an informal economy. That, for to the mass adoption of cryptocurrencies. Outdated laws We need, of, an open sandbox for innovation we’re really ready for a lot of regulations. there are certain areas, like securities laws, where it would be great if we could, amend them for the of these tokenized which a new OC: How JG: So, if you think about the securities today, the reason they are so heavily regulated is that they are not you have any insight the cash flow except quarterly But, in theory, a use for be that automatically based off of revenue of a software project like, I should be my software project that every user, every transaction back to investors, like a portion of It’s transparent, it’s immutable, it’s on blockchain. And thus, I shouldn’t have an S1 a company public to offer that to your consumer. People should be to buy that in an ICO [Initial Coin Offering] gain to upside this new software that I’m building, it’s so straightforward get paid — the dividends are coming from. OC: Right, And are just a lot more
 that? I just feel like most peopLe don’t care About TheIr pRiVacy.

jG: LiTerally, almost eVEry fAmily in America pays theiR nannY iN Cash ANd That nAnny is nOT rEPOrtInG iT to ThE iRs and tHey Are not rEporting thAt tO IrS. It is not uncOMmOn that peopLe wAnt to do businEss In a way ThAt iS Not beIng TraceD by the GOvernmEnt or just WaNT some pRIvacy in THEiR finAncial transactionS — ViRTually almost evEry perSoN On THE plAneT.

The grey ecOnOmy is ABsoluteLY mASSIve, ANd the second yoU take away caSH, it BecomeS mUch HArder tO engaGe IN — esPecially if wE’ve mOved to a diStribuTEd ledgeR-Based fiNanciaL sySteM, wheRE nOt OnlY iS EveRY tRanSActIon traceAbLe, But it’S alsO TIED to yOur IdenTity, wHich is way worsE thAn whAT we Have tOday.

SO, you ReAlly hAve to tHink aBoUt the ramificatiOns oF a world in WhiCh TheRe Is no cASh, no abIliTy tO take plAce in an INfoRmAL ECoNomy. That, for sure, wilL lEAD tO the mass AdoptiON oF cRYptocurrEnCieS.

OutDATed laWs

JG: wE nEed, kind oF, an opeN SaNdBox for iNnOvatioN bEfoRe wE’re reALly rEady foR a lot of rEgulaTIons. But there arE Certain areas, lIKe SECuRItieS laWs, where it woUld bE GreaT if wE CoUld, KInd of Amend ThEM fOR the reality of these tOkEnized SecurIties, which are A very new coNCEPt.

OC: How eXactLY?

Jg: so, if you think abOut thE securitieS Today, the ReasoN why they Are so heavILY regulatEd iS thAt tHey ARE nOt transparent — YOU don’T hAve any iNsiGht into The CasH flOw eXcEpt for quaRterly rePoRtS.

BUt, In tHeory, A Lot of use CaSes FoR toKenizED securIties CoulD bE sECurIties thAT pAY AutoMaTiCallY baSeD off oF the REveNue of a sOftware prOjeCT — likE, I ShOuld be aBle to sell tokeNs From my softWaRe pRoject THAt every uSer, every transaction goes BAck to inVesTors, lIke a Portion of RevEnue. It’S trANspareNt, it’s iMmutaBlE, it’S ON blocKCHaIn.

ANd Thus, I shoulDN’T haVe filE aN S1 anD take a cOmpany public to offeR ThaT to your everydAy cOnsuMER. PEopLE sHOulD bE AblE TO buy that in an ICO [initial CoiN OFFeRing] and gaiN AccEsS to upsiDe of thiS new sOFtware cOmpany thaT I’m buildiNg, BecaUSE it’S so straighTforward How they geT Paid oUT — wHere tHe rEvenue Or The DividEnds arE ComIng frOm.

OC: RiGhT, yeah. ANd theRe Are just a Lot more
 that? I just feel like mo st peopledon’t  ca reab outthei r privacy.

JG :  Lit erally, almost every f amily  i n  Ame r ic a pay s their na n n y i nca shan d  t hat n ann y is no t reportin g i tto the IRS a n dthey are n otreporting th atto IRS .Iti s not  un commo n that people  want todo busine s s in aw a ythat  is not being tra c ed by the governm ent or  j u st w ant  so me privacy  i n the i r finan c ia l t ran s actions — vir tually almo s t e very p er son on the  plan et . 

T he grey eco nomy  is absol utelym assive, and the  secon d y outake aw ay  ca sh ,  it be com e s m uch hard er  t o eng agei n —  esp eci ally  if w e’ve moved to  adist r ibu ted l edger -bas ed  fina ncialsyste m,  where not only  isevery tra nsa ct ion  t racea b le, bu t i t’s  also t ied toy our  i d e n ti ty, which is way w or s e  t han what  we ha v eto d ay.

So,  y oureal l y  have  tot hi nk about  the r a mi fi cations  o f a wo rl d i n w hicht here  is no  cash, n o abi l ity to take pl a ce in an info r ma l ec o nomy . T hat, for su re,w illlead to  th e  mass  adop ti o no f cryptocurrencies. 
Outdat ed la ws

JG: We ne ed, kind o f , an opensand b ox for innovation  befo re we’re r e ally rea dy fo r a lotof regula t i ons. But  th ere  ar e c e r ta in areas, lik e secu ri ties la ws,  whereitwou ldbegr eat if we  could,ki nd  o fame nd th e m for th erea li tyof th e se tok enize d se cu ri t ies , which ar e a ve ry  n ew c onc ep t.

O C: H o w e xactly? 

JG: So,  if youth in k about  the securiti es  today, th erea son wh y they are  so heavily regulated i s  that t hey  arenottranspare nt— youdon ’ t have  any i nsigh tint o the c a s hflo wexcept for q uar terly  r epor ts.

Bu t, in theory, a lo t  of  use cases fo r t oken i z ed  se c ur i tie sc oul d be securities t hat pay au to m at ically bas e d o ff  of the  revenu e ofa  softwa re projec t — like,  I  sho u l d b e able tosell tok ens fromm y sof t wa re pr oje ct tha teve ry us er, ev e rytrans action  g oes ba ck to  i nvestors , like a portion of rev enue.It’stra nsparent,  it ’ s i mmutable,  it’ s on block cha in. 

And  th u s, Ishou l dn ’th ave f ilea n S1 andt ak e a c om pany public t o  of fer t hat to you r ev eryday consumer.P eople should b e ab l e  to  bu y  tha tin an ICO [Ini tia lC o in Offer in g] and gain  accessto upsid e of t his ne w softw a r ec ompany  tha t I ’m buildi ng,  b e cause i t’ ss o stra ight fo rwardhow th e y ge t paid out — where  ther e venue orthe d iv idendsa re c oming from .

OC: Righ t, yea h. A nd th ere are  j ust alot  m ore
 that?_I just_feel like most people_don’t care_about_their privacy.

JG:_Literally,_almost every family_in America pays_their nanny in cash_and that nanny_is_not reporting it to the IRS and they are not reporting that to IRS._It_is not_uncommon_that_people want to do business_in a way that is_not being_traced by the government or just want some_privacy_in their financial_transactions — virtually almost every person on the planet.

The_grey economy is absolutely massive, and_the second you_take_away_cash, it becomes much_harder to engage in — especially_if we’ve moved to a distributed_ledger-based financial system, where not only is_every transaction traceable, but it’s also_tied to your identity, which_is way_worse than what we have_today.

So, you really_have to_think about the_ramifications of a world in which_there is no_cash, no ability to take place_in_an informal economy._That,_for_sure, will_lead to the_mass_adoption of_cryptocurrencies.

Outdated_laws

JG: We need, kind of, an_open_sandbox for innovation before we’re really ready_for a lot of_regulations._But there are certain_areas, like securities laws, where_it would be great if we_could, kind_of amend_them for the reality of these tokenized securities, which are a_very new concept.

OC: How exactly?

JG: So,_if you think about_the securities_today,_the reason why_they_are so_heavily regulated is that they are not_transparent —_you don’t have any insight into_the cash flow except_for_quarterly reports.

But, in theory, a lot_of use cases for tokenized securities_could be securities that pay_automatically_based_off of the revenue of_a software project — like, I_should be able_to sell tokens from my software project_that_every user, every transaction goes back_to_investors, like a portion of revenue._It’s_transparent,_it’s immutable, it’s on blockchain.

And_thus, I shouldn’t have file an_S1 and take a company public to offer that_to your everyday_consumer. People should be able_to_buy_that in an ICO [Initial Coin Offering] and gain access_to upside_of this new_software company that I’m building, because it’s so straightforward how_they get paid out — where the_revenue or the dividends are coming from.

OC: Right, yeah. And there_are just a lot more