2020 has been a year of change for the digital asset sector. It has been particularly so when it comes to the DeFi sector, which has grown into a multi-billion dollar industry in the past few months. The year has seen a massive surge in DAOs and Jacob Newman, a renowned investor, has been paying attention. He recently announced that he was joining the DeFi Sector.
Jacob Newman Enters the DeFi Sector
Jacob Newman, the former CEO of Invest Green USA, has added momentum to the DeFi sector by highlighting a wealth-creation vehicle modeled after the early days of Bitcoin. Newman is an investor and entrepreneur who began his career in the business world by investing in digital asset startups. He now plans to make a huge impact on the DeFi sector, which will start with the bold move of selling his majority stake in Invest Green. Newman plans to deploy the proceeds into a new coin that he pioneered, called “The American Bitcoin.”
According to a recent announcement, Newman states that part of the appeal of Bitcoin is the decentralization of wealth. He notes that there is no intermediary skimming off the top. The new DeFi venture that Newman will launch is part of something greater, according to the investor.
The Newman Mission
Newman has a mission of wealth redistribution, which will change the US for the better. His aspirations as a politician fit well into this mission. The announcement notes that a decentralized banking system would make it possible to use money more efficiently.
According to the announcement, it would be a long-term investment. The full supply would be released over time, mimicking the Bitcoin model. The announcement noted that if someone had invested $100 a decade ago, it would be worth over 200 million today. His model will replicate the economics of Bitcoin, and help people further diversify their capital into another deflationary asset.
Newman has a dream of restructuring the banking system in the US and restoring control to the population. The announcement noted that the government had tens of trillions in debt and a heavy tax system. As a result, money continues to lose its value as time progresses.
The announcement concluded with a quote from Thomas Jefferson which talks about a happy future for Americans if they can keep the government from wasting their labors. It proceeds to state that Newman could make this aspiration by Jefferson a reality. The name drop and launch will take place around October 2020. it will then launch on major exchanges by early 2021.
Like any other project in the DeFi space, it is important to take precautions before investing in a project. The details are scanty right now, and assessing the project is difficult based on the early maturation. However, Newman provided an Instagram link where those interested could follow up on developments through his page.
It is difficult to assess Newman’s track record based on companies like Invest Green being private entities. According to the companies website, Invest Green helps educate people on trading cannabis stocks. Despite there being no mention of Invest Green being registered as an advisor, Newman still saids on his Instagram bio that he is managing $50 million in assets. It is unclear what type of vehicle he is using to manage assets of such size.