“Democratizing Debt” - Quincy Issues First U.S. Blockchain Bond - Ft. Eric Mason and Rick Coscia

Quincy, Massachusetts has issued a blockchain-based municipal bond, the first of its kind in the United States with the goal of democratizing Quincy's investment opportunities and ultimately allowing individuals to invest in their own community. Eric Mason (Quincy CFO) and Rick Coscia (Quincy Strategic Asset Manager) join Kyle to explain why they decided to push forward with this deal, and what they hope to accomplish by embracing Digital Ledger Technology. They also explain the safety and efficiency of listing a bond via blockchain, the advantages of being an early adopter, and the potential for creating a secondary market for trading blockchain-based bonds. To address concerns about cybersecurity and the risks associated with the new technology, Eric and Rick describe the long vetting process and how the city’s financial health was always their top priority. The conversation explores the potential impact of blockchain technology on municipal bond sales and the role of government in embracing new technologies as they explain the benefits of using blockchain for bond sales, such as increased efficiency, cost savings, and improved transparency. They also highlight the importance of regulatory compliance and the need for government to lead the way in adopting innovative solutions. The conversation concludes with a discussion on the post-bond sale analysis and the potential for future adoption of blockchain technology in the municipal bond market.If you have any questions about this sale for Eric or Rick to answer, please send them to [email protected], or DM us on twitter or Discord!Sponsors and FriendsOur podcast is sponsored by Sue Maki at Fairway Independent Mortgage (MLS# 206048). Licensed in 38 states, if you need anything mortgage-related, reach out to her at [email protected] or give her a call at (520) 977-7904. Tell her 2 Bulls sent you to get the best rates available!For anyone trading futures, check out Vantatrading.com. Founded by Mr. W Banks and Baba Yaga, they provide a ton of educational content with the focus of teaching aspiring traders how to build a repeatable, profitable process. You can find our exclusive affiliate link/discount code for Vanta ‘s subscription in our free discord server as well!If you are interested in signing up with TRADEPRO Academy, you can use our affiliate link here. We receive compensation for any purchases made when using this link, so it's a great way to support the show and learn at the same time! **Join our Discord for a link and code to save 10%**To contact us, you can email us directly at [email protected] Be sure to follow us on Facebook, Twitter, or Discord to get updated when new content is posted! Check out our directory for other amazing interviews we've done in the past!If you like our show, please let us know by rating and subscribing on your platform of choice!If you like our show and hate social media, then please tell all your friends!If you have no friends and hate social media and you just want to give us money for advertising to help you find more friends, then you can donate to support the show here!About Eric:Eric is a practicing labor economist, who currently works as a chief financial officer for the city of Quincy, Ma. His area of research focuses primarily on small business and macroeconomics trends. Eric has a special interest in historical economics, cliometrics and steers clear of ideological hardlines, preferring to use empirical analysis in his appearances.theinformaleconomist.com - Eric Mason's WebsiteFollow Eric on LinkedInFollow Eric on TwitterPrevious Episodes with Eric MasonAbout Rick:Rick Coscia is a Strategic Asset Manager at City of Quincy Massachusetts based in Quincy, Massachusetts. Previously, Rick was a Private Client Banker at JPMorgan Chase and also held positions at Eaton Vance, Sun Life, Fidelity, MFS, New England Funds, LP, Distributor.Follow Rick on LinkedInWatch for Rick’s upcoming appearance on the Bond Buyer PodcastAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy