New name reflects industry’s need to be more consumer and investor-friendly
GREAT FALLS, Va., Aug. 28, 2019 /PRNewswire/ — The Advisor Blockchain and Cryptoassets Council, the groundbreaking RIA-education organization created by leading financial advisor Ric Edelman, has changed its name to the RIA Digital Assets Council.
“Our council members unanimously agreed that the industry must ban the term ‘crypto‘,” said Edelman. “By evoking images of death and skullduggery, it hinders consumer acceptance of these legitimate new technologies.” He added that the word “blockchain” isn’t much better; to many, “block” means “to prevent” and “chain” means “tie up” or “restrict.”
“If we’re to help consumers and investors embrace these exponential technologies, we must make them accessible – and that begins with the right verbiage,” Edelman said. “We’re leading the way by using the correct phrase: digital assets.”
The RIA Digital Assets Council is dedicated to advancing the RIA community’s awareness and knowledge of blockchain and digital assets so financial advisors can give their clients sound advice. Through RIADAC, financial advisors can connect with experts and enhance their understanding, for the benefit of their practices and their clients.
Earlier this year, the council presented a day-long event in conjunction with the Barron’s Top Independent Advisor Summit in Salt Lake City. More than 150 of the nation’s top financial advisors and influencers in the digital asset space participated in the program.
RIADAC is now developing events for the largest RIA conferences in the nation. To learn about upcoming events and subscribe for updates, visit www.riadac.com.
ABOUT BLOCKCHAIN AND DIGITAL ASSETS
Blockchain technology replaces the traditional “trust economy” with a new “authentication economy.” It eliminates the need for middlemen, and allows financial transactions of all sorts to be conducted more quickly, more safely, less expensively and with greater transparency than traditional methods of commerce allow. Data placed on the blockchain are visible virtually instantly, and cannot be deleted, copied, altered or hidden.
Digital assets are vehicles used to conduct transactions, or create and store value, on the blockchain, and include digital currencies, utility and platform tokens, and tokenized securities.
Thanks to blockchain and digital assets, virtually every type of transaction can be accommodated – from brokerage transactions to concert tickets to marriage certificates – with massive improvements for buyer and seller, albeit at the expense of the broker or middleman.
ABOUT RIC EDELMAN
Ric Edelman has been named the nation’s #1 Independent Financial Advisor three times by Barron’s. He’s also been named one of the most influential people in the financial services field by Investment News, RIABiz, Investment Advisor and Wealth Management. Ric is one of the most acclaimed speakers in the advisory field. For nearly 30 years, he’s been hosting a weekly radio show that’s currently ranked the #2 weekend-only show in the nation by TALKERS. He also writes and stars in TV specials for Public Television, publishes an award-winning 16-page monthly newsletter, and is a #1 New York Times bestselling author of 10 books on personal finance.