MILWAUKEE – Blockchain, cryptocurrency and other trends in technology will continue to bring change to human culture and business, according to Samantha Radocchia, an author, blogger, speaker and entrepreneur.
“Crypto, or Bitcoin, at least in the mainstream media has died, I think it’s 447 times since 2010. There’s a record of that,” said Radocchia, who is known on social media as “Sam Rad.” She does not predict a demise for cryptocurrency.
Radocchia made these remarks and others as keynote speaker at Milwaukee Jewish Federation’s Economic Forum, June 7, 2022, at The Pfister Hotel in Downtown Milwaukee. Radocchia, named one of Forbes 30 under 30 in 2017, participated in a panel discussion with Jamie Finn, co-founder, Securitize; moderator Mike Gousha, senior advisor in law and public policy at Marquette University Law School; and Craig Schedler, managing director, Northwestern Mutual Future Ventures.
Economic Forum sponsors included the Milwaukee Business Journal, BMO Harris Bank and PNC, along with more than 40 others. The event co-chairs were Linda Gorens-Levey, partner of General Capital Group; David Lubar, CEO and president of Lubar & Company; and Greg Marcus, CEO and president of The Marcus Corporation.
After the June 7 event, Bitcoin, the popular cryptocurrency tied to blockchain, dropped in value sharply. Related businesses reported layoffs. But Radocchia did not lose faith, retweeting a positive message on Twitter: “Don’t lose sight of the big picture. We’re building an open, permissionless world. It will take decades, not years. Close the computer, zoom out, go for a walk. Just don’t give up.”
“I simply share what’s happening and not necessarily think everyone should use blockchain,” said Radocchia, at the June 7 event. She explained blockchain as a digital ledger – “at the end of the day, just transactions written on a record, and those records are chained together in a series of blocks.” The blocks are duplicated and spread across computers everywhere, all connected with that blockchain, to keep track of cryptocurrency or other information.
Radocchia views blockchain – which takes currency out of the hands of a central government – and other technologies, as having a decentralizing impact. “Blockchain and decentralization in general, represents the operating system of the future,” she said.
Citing another example of the decentralization trend, she said, “we’re seeing this new shift and operating system beyond private intellectual property … We saw the sharing economy where most people don’t even own their real estate, own their cars; they’re either participating in ride sharing economies or beyond that. But the question then is what’s next for ownership?”
“This is a decentralized future; it’s a totally new way of looking at things …. of course, the movement of people to working remotely is a very literal example of decentralization.”
Radocchia talked about blurring of realities between the physical and digital world, as when, years ago, she sold digital T-shirts in a digital world, then exchanged the fake money she earned for real world dollars. Technologies are converging, she said, arriving at full body haptic suits, where you can feel everything in a metaverse, she said.
Panelists discussed various ideas, including the notion that these new technologies can be a place to invest a small amount of money that one can afford to lose, as well as the proposition that use of blockchain could become an ubiquitous necessity, like having a web page.
Milwaukee Mayor Cavalier Johnson spoke briefly before Radocchia, calling for a focus on economic development, for the benefit of the people. “I’d like for all of the business community and community leaders in this room to engage with my administration, by offering your ideas as well as your assistance, because it will take all of us working together in partnership in order to achieve for Milwaukee what we know the city can be,” he said.
“The Economic Forum highlights the intersection between Milwaukee’s philanthropic and business communities,” said Miryam Rosenzweig, president and CEO of Milwaukee Jewish Federation, who also spoke to the audience of several hundred before the start of the presentation. “We share many of the same goals, and we depend on each other to succeed. All of us want to ensure that young professionals come here and stay there. You just heard our mayor say that that’s one of his goals. We want fresh leaders and your family’s true belonging, to make a life here, to make a difference here. This is the best way to strengthen local business and in turn our entire community.”
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