Wisconsin Loves Bitcoin
You reap what you sow and I've sown for nearly a decade.
I have not shared this publicly until today, but I feel like now is the time.
As I read the Blockworks piece on the State of Wisconsin’s investment board holding Bitcoin through the BlackRock Bitcoin ETF $IBIT, memories flooded my mind.
Now, before I share this, I want to set the stage. I share this only to remind people that everything is not always what it seems and that “time and chance” happen to us all.
I had a trail of press within the state of Wisconsin during my start in this industry. I was among the first movers, educating and advocating for Web3 awareness in Milwaukee. The Milky Way Tech Hub emerged as a partner and bonds were forged.
The local press began to take notice. I was featured in the Milwaukee Business Journal and BizTimes Milwaukee several times. I also did a podcast interview with OnMilwaukee as well as pitched on TV via a WI-bred show called “Project Pitch It,” where I received a $5,000 grant for my first Web3 startup, PerceptForm.
Along with this, I have been featured on Face2Face Africa, Blockworks, and even mentioned on platforms such as Bloomberg and Tech Crunch. I had the signal of the press and was connected to the mayor of Milwaukee’s office due to my tenure as a Bronzeville Advisory Board member in the City of Milwaukee for several years. I even spoke to the mayor about creating MilwaukeeCoin, which would have been like MiamiCoin or NewYorkCoin from the CityCoins protocol on the Stacks blockchain.
Long story short, I worked very hard to establish a respectable brand and to provide value to the city of Milwaukee, but I wanted to take it to the next level. I ran into a plethora of red tape, glass ceilings, and dead ends. I knew that if this was happening to me, even with the little “success” that I had, this could happen to other founders.
Having a global mindset since my youth has never throttled my love for my hometown.
I’ve known Representative Dora Drake, who represents the 11th Assembly District in the Wisconsin State Legislature, for a while. Not only is she a kind human, but she’s the kind of person that we need in politics—one who truly wishes to serve the people and one who still has a spark of life in her eyes and who will not compromise.
I began speaking to Representative Dora about the impact that Bitcoin is having on the world. She indulged in my conversation, educated herself, got a legal opinion about my crazy musings, and then something finally happened in 2022.
We had a preliminary draft for a regulatory sandbox that BTC startups could leverage.
Bear with me as I unpack and share this. This is dense, but I will be as brief as I can.
In the context of the draft, which I will share at the end of this, a regulatory sandbox is a legally controlled environment where innovation can be tested with less rigid requirements. This would have possibly leveled the playing field for any Bitcoin company looking to build in Wisconsin. A regulatory sandbox has to appease regulators by allowing monitoring for the sake of studying the impact of nascent, novel technology such as Bitcoin while providing a safe, controlled environment for exploration. This could have fostered a new era of innovation in the state of Wisconsin, as this was in the works for nearly two years.
Due to political reasons beyond the control of myself and Representative Dora Drake, the draft simply sat.
The 17-page draft in its entirety is available for viewing by clicking here.
I wanted to share this with the public to say that people are behind the scenes fighting and their efforts are rarely seen, heard, or appreciated. So, I wanted to take the time to say thank you to Nadiyah Johnson and to Representative Dora Drake, as well as to every publication and platform that allowed me to share my vision.
Now, for the State of Wisconsin, as you entertain Bitcoin for proxy exposure via the IBIT ETF from BlackRock or even holding MicroStrategy, consider catering to the next BlackRock or the next MicroStrategy in your state. Consider the work of people such as Representative Dora Drake and myself. Consider Bitcoin like Oklahoma has.
Consider, then act. Time is of the essence. Regardless, I will continue to build.
I am forever thankful and ever motivated with a hyper focus to build for mass adoption, whether within American borders or across oceans in emerging countries.