MILWAUKEE — As an artist and entrepreneur, I’m inspired by how blockchain technologies and cryptocurrencies are reshaping the way creative people can express themselves, connect with their communities and earn sustainable income.
What is a blockchain? It’s a list of transactions that anyone can view, verify or track. It’s transparent and public.
The bitcoin blockchain is one you may have heard of. It contains a record of every time a bitcoin has been mined, sent or received, back to the very first transaction. Other blockchains host art, records or other digital valuables.
I’ve woven these technologies into my art, spiritual practice and Craft the Future, a resource hub I co-founded to help others access emerging technology without needing a technical background. From tarot readings to helping build projects based on blockchain, I’ve experienced how decentralization can empower creative people, especially those of us historically excluded from ownership in traditional systems.
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I’m excited not only about what’s possible for individuals but also about Wisconsin’s potential to lead in equitable innovation.
Unfortunately, recent regulatory actions have been working against innovation in our state. One example is the lawsuit filed by the state of Wisconsin that prevents crypto owners here from accessing the benefits of staking cryptocurrencies through their chosen provider. Staking is a process where users can earn rewards on their cryptocurrencies by supporting the network security of a blockchain.
Wisconsin’s lawsuit targets only the widely-used crypto exchange Coinbase, and has eliminated the ability of users to stake their crypto through that exchange. These legal fights are stifling innovation under the guise of consumer protection and create a hostile environment for crypto owners and innovators.
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With these legal restrictions, our state government is making it harder for people in Wisconsin to participate in this transformative technology. Under the guise of consumer protection, the potential of blockchain to create accessible, equitable financial systems is being stymied. This only hurts entrepreneurs, blockchain builders and everyday users who are exploring crypto as a tool for independence.
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For individuals, blockchain technology offers unprecedented access to financial services, transparency through decentralized networks, and the ability to control one’s own digital identity and assets without intermediaries. This matters profoundly in a world where financial inclusion and personal autonomy are under pressure.
For our state, crypto and blockchain can drive economic growth and expand social services. Take WayFi wireless as an example. It’s a Wisconsin-based company that uses blockchain technology to bridge the connectivity gap and bring internet access to all corners of our state. It brought internet connectivity to schools and nonprofits. It even provides wifi for the Dane County Regional Airport.
The U.S. has been the beneficiary of recent blockchain innovation. The spirit of innovation has welcomed markets that drive technological progress, create jobs and keep the U.S. competitive with the rest of the world.
For artists like me, the potential of utilizing blockchains for distribution, licensing and payment shows these technologies can empower individuals in new and exciting ways. Instead of having to be commissioned or sell our creations through a third party, artists can sell their work on the blockchain – and stake their earnings to receive additional crypto rewards.
Wisconsin officials need to support legislation that builds up the cryptocurrency structure, not tear it down. This technology isn’t just for the tech experts and financial elites. It’s for the single parent managing side hustles, artists building relationships with supporters, and small business owners seeking new ways to grow their businesses.
I urge Wisconsin’s leaders to engage with people already using these tools. Listen to those whose lives have been improved. Recognize the value.
A better future is on the horizon. Let’s make sure Wisconsin is a part of it.
Nicole, based in Milwaukee, is a multidisciplinary artist, Craft the Future co-founder and Web3 consultant.
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