California Public Employees Retirement System and its vision for Bitcoin investment in 2035

Crazy Review : California's public public employee retirement system (CalPERS) discussed blockchain investment in the "2035 Vision - Investments for the Future" talk, outlining the agency's future vision plan. Project leader Jesse McWaters believes that blockchain technology has three important contributions: consensus model, payment system through consensus model, and smart contracts. In the past two years, blockchain technology has developed rapidly. Suddenly, blockchain appeared on the cover of the Economist and was passed on by every CEO.

Translation: Nicole

On July 18, 2016, the California Public Employees’ Retirement System (CalPERS) discussed blockchain investments in a talk titled “Vision 2035 – Investing in the Future,” outlining the agency’s future vision plans.

Blockchain: An investment in the future

The talk was hosted by Jesse McWaters, who is the project lead and gave a presentation on blockchain technology.

Before the talk began, McWaters told the audience a story about how current financial services players view FinTech over time. More specifically, he detailed the different attitudes these institutions have towards FinTech over the course of a year. Initially, these institutions viewed FinTech as non-threatening, but a year later, their attitudes have changed 180 degrees.

After a while, he changed the subject and elaborated on blockchain technology investment. He talked about the situation in the way of talking about financial technology, explaining the transformation of blockchain technology in people's minds.

McWaters said:

“Two years ago, this was a topic only mathematicians, some economists, and a few die-hard libertarians were talking about. Suddenly, blockchain is on the cover of The Economist and on the lips of every CEO.”

After this introduction, he said that this is a wrong question, and as an investor, it is a bit ridiculous to ask how blockchain works. He said that investors need to understand more about what blockchain can be used for.

Next, the speaker listed what he believed to be the three most important contributions of blockchain technology: consensus model, payment system based on consensus model, and smart contracts.

In addition, he explained in detail the significance of blockchain technology, such as providing investors with the basic principles of consensus and transparent records.

McWaters concluded his presentation by discussing the risks of blockchain technology as it matures, followed by a question-and-answer session.