>> WELCOME BACK TO CHEDDAR
EVERYONE THE STOCK MARKET HAS
SEEN INCREDIBLE GAINS OVER
THE LAST A FEW YEARS FROM
TRADITIONAL RETAIL STOCKS TO
THE BITCOIN SURGED AND THE
REDDIT GAMESTOP SAGA BUT ONE
THING ALL OF THESE HAVE IN
COMMON IS WHO THEY'RE LEAVING
BEHIND ACCORDING TO THE DATA BY
THE FEDERAL RESERVE ONLY 33 AND
A HALF PERCENT OF BLACK
HOUSEHOLDS, OWN STOCKS IN 2019
COMPARED TO 61% OF WHITE
HOUSEHOLDS. JOINING ME NOW IS
TONY EVANS, WHO IS
THE PROFESSOR AT PENN STATE
DICKINSON LAW CHAIR MAKER
FOUNDATION AND
CEO AND OF ADVANTAGE EVANS LLC
YOU'VE GOT ALL
THE TITLES SO YOU'VE GOT ALL
THE EXPERIENCE AND INSIGHT THAT
WE NEED THAT WE NEED TO REALLY
GET HERE I THANK YOU SO MUCH
FOR JOINING US AND BEING HERE
WHY ARE MINORITIES SO LEFT
BEHIND IN THE SYSTEM.
IT'S A GREAT QUESTION. I'M SO
GLAD THAT YOU'RE FOCUSED ON
THIS TOPIC AT THIS MOMENT IN
TIME TO KICK OFF.
>> BLACK HISTORY BECAUSE
ESSENTIALLY.
DECENTRALIZED FINANCE AND
FINANCIAL TECHNOLOGY OR FINTECH
IT EXISTS AT THE
INTERSECTION OF THE
INTERSECTION OF FINANCE AND
TECHNOLOGY AND SO THAT MEANS
THAT IT BECOMES THIS
MICROCOSM OF HOW THE BLACK
COMMUNITY IN PARTICULAR BLACK
AND BROWN COMMUNITIES, OTHERS
WHO HAVE HISTORIC WE BEEN NOT
ONLY UNDER ESTIMATED PUT UNDER
WOEFULLY UNDERREPRESENTED AND
SO WHEN YOU FIND YOURSELF
EITHER AT THE AXIS OF FINANCE
FOR TECH. WHEN YOU ARE IN THIS
INTERSECTION OF THE 2 YOU HAVE
EVEN
THE PROBLEMS THAT SYSTEMICALLY
EXIST IN EITHER FINANCE OR
TECH.
>> CERTAINLY OKAY, AND SO THE
GAME'S TOP CREDIT SAGA IF WE
START THERE HAS BEEN SEEN AS A
VICTORY FOR THE UNDERDOGS A
DAVID AND
GOLIATH STORY WHERE DO
MINORITIES FIT INTO THIS FROM
WHAT YOU'VE BEEN TAKING AWAY AS
WE CONTINUE TO SEE MORE AND
MORE UPDATES THE STORY EVERY
SINGLE DAY.
>> YES, THAT
IS A FAST-MOVING STORY EVERY
TIME I CLOSE MY EYES AND OPEN
THE GAME IS SOMETHING ELSE THAT
HAS HAPPENED. THIS WAY I FELT
IN SOME SENSE. IT WAS THE 5%
AGAINST THE ONE PERCENT.
AND THEN YOU HAVE THE REST OF
THE PEOPLE WHO WHO WERE ANNOYED
AT THE END MANY
OF WHOM OR IS IN BLACK AND
BROWN COMMUNITIES THAT
UNDERSTAND THAT OVER 50% OF
THOSE USING ROBINHOOD ACTUALLY
HAD SOME EXPOSURE WITH GAMESTOP
FOR EXAMPLE THAT MAY HAVE BEEN
LEFT HOLDING THE BAG SO WHAT
AND THAT UNDERSTAND THE
ECONOMIC JUST STATUS OF
UTILIZING THE EXISTING ONE WAS
IN THE CURRENT FINANCIAL
SYSTEM. SHORTLY AND THAT AS FAR
AS I CAN SEE
THERE WERE NO LAWS OR RULES
WILL HAVE COMMISSIONS IS AND
REPORTS ABOUT WHAT HAS
HAPPENED. BUT I DIDN'T REALLY
SEE IT IN THAT WAY IT SEEMS
LIKE IT WAS PLAYING ITSELF OUT
IN PLAIN VIEW THE QUESTION IS
WHETHER THE BLACK COMMUNITY HAS
ACCESS TO THE SAME LEVEL OF
INFORMATION EVEN ON REDDIT
TECHNICALLY SPEAKING IT'S
AVAILABLE YOU COULD SEE THE
DISCUSSIONS GOING ON. BUT I AM
CONCERNED OF THOSE WHO GOT
STUCK ON THE ACT IN
PARTICULAR AND HAD ALL OF THE
EXPOSURE BUT NONE OF THE ONLY
ABILITY TO PULL THEMSELVES
OUT OR ARE PREVENTED FROM
ACTUALLY TAKING ADVANTAGE ONCE
THE STEP
SOURCE SO I'M MORE CONCERNED ON
THE BACK INTO WHY SOME CONTINUE
TO BE ABLE TO OPERATE TO
PROTECT THE EXISTING SYSTEM
THAN OTHERS GET LEFT HOLDING
THE BAG AND
SOME STATES.
>> I WANT TO TALK ABOUT BITCOIN
AS WELL BIG COHEN'S RECENT BOWL
RUN IT IT SHOULD IN A NEW WAVE
OF THE UBER WEALTHY AND SO
MINORITIES LEFT BEHIND THERE
FROM WHAT
WE'VE SEEN AND MINORITIES WHY
ARE WE MISSING OUT IN
ESPECIALLY THE CRYPTOCURRENCY
SPACE THAT REALLY IS NEW OVER
THESE PAST 10 TO 15 YEARS AND
IT ORIGINATED MUCH OF IT
BEYOND YOU KNOW, OF COURSE THE
ORIGINAL SIN 2 SHE WHITE PAPER
AND SO FORTH IT
STARTED IN GAINED LEGS WITH IN
THESE RED COMMUNITIES AS WELL.
>> EXACTLY AND I THINK THAT
THEIR NUMBER OF REASONS WHY THE
LEAD COMMUNITY MAY BE SITTING
ON THE SIDELINES. A LOT OF IT
IS THAT THERE ARE A NUMBER
OF THINGS FOR ACROSS THE BOARD
FOR PEOPLE TO HAVE ACCESS TO
SOMETHING THAT SEEMS SO IN A
SENSIBLE AND NUANCED AS A
MATTER OF USER INTERFACE AND
EXPERIENCE AND IT'S VERY CAN BE
VERY
LOW KEY. IT ALSO TRADITIONALLY
IN THE BLACK COMMUNITY WE FOCUS
ON THE SHORE THAT WE FOCUS OR
WELL AT LEAST IN SOME SENSE THE
SHOW OF
REAL ESTATE OR TALKED TO GET A
HIGH-PAYING JOB BY INSURANCE
BUT LESS INCLINED TO LEARN
A LOT ABOUT EVEN JUST
TRADITIONAL PHYSICAL PRINCIPLES
FOR FOCUSING ON EQUITIES
THAT WILL HOPEFULLY APPRECIATE
OVER TIME AND INTERGENERATIONAL
WEALTH AND SO FOR ALL THOSE
REASONS AND I'VE HEARD A LOT
YOU KNOW I TEACH CASTOR CRYPTO
TO TRY TO
EDUCATE BLACK COMMUNITIES ABOUT
NOT EVEN TO BUY
SOMETHING NEW THE TICKET BUT TO
KNOW TO BE INFORMED ABOUT THE
DECISIONS BUT THINKING THAT
THAT MAYBE ILLEGAL OR AGAIN
LOCKED OUT OF TRADITIONAL.
OR EMERGING ASSET CLASSES
THAT CAN BE A MAJOR IMPEDIMENT
TO. THE COMFORT LEVEL THAT THE
BLACK COMMUNITY WITH ME IN
ORDER TO. NOT LOOK AT IT SO
SURE YOU LOOK AT IT SERIOUSLY
RATHER THEN REPELLED BY THE
THOUGHT THAT IT MIGHT BE
ILLEGAL OR TOO RISKY.
ABSOLUTELY AND JUST LASTLY WHAT
WE HAVE YOU YOU KNOW, IT'LL BE
INTERESTING NO FROM YOUR
PERSPECTIVE WHAT STEPS I NEED
TO BE TAKEN SHOULD BE TAKEN TO
ENSURE THAT MINORITIES DON'T
MISS OUT. ON THE NEXT
TECHNOLOGY REVOLUTION.
>> AS WE'VE BEEN WATCHING TO
THIS POINT AT LEAST WITH
CRYPTOCURRENCY.
>> THERE'S SO MUCH OPPORTUNITY
HERE TO. FOCUS ON SOME OF THE
BENEFITS THAT COME FROM THE
DECENTRALIZED PLATFORM TO
REALLY REMOVE SOME OF THE
TRADITIONAL
IMPEDIMENTS TO COMMUNITIES
PARTICIPATING MOVE. FLYNN IS
THE BEST GOALIE IN FINANCE.
WHAT I THINK
ABOUT REDLINING OR DISPARITIES
IN LINDY THE ABILITY TO USE
DECENTRALIZED FINANCE THAT
REALLY HAS THE POTENTIAL TO
COMPLETELY REINVENT THE WORLD'S
FINANCIAL SYSTEMS. I THINK OF
THE ABILITY TO MERGE WITH
STEALING THE FAMILIARITY
WITH TRADITIONAL. ECONOMY WITH
THE SECURITY AND EFFICIENCY AND
TRANSPARENCY AND DECENTRALIZED
FINANCE THE ABILITY TO LEVERAGE
CRYPTO IN ORDER TO HAVE LOANS
IN A WAY THAT TRADITIONALLY WE
ARE NOT DON'T HAVE ACCESS TO
THERE'S SOME REALLY IMPORTANT
REASONS WHY LEARNING ABOUT IT
WHICH IS THE
FIRST STEP AND THEN BECOMING
COMFORTABLE WITH THE TECHNOLOGY
WITH THE RENO AND TO SAFELY
NEELY INCOMPETENTLY REALLY
PARTICIPATE MEANINGFULLY IN THE
FUTURE OF MONEY. ON EVANS
PROFESSOR