SALT Granted Extension on Form 10 Filing Date

A message from SALT regarding our Form 10 filing deadine

As previously announced, part of our settlement with the U.S. Securities and Exchange Commission (SEC) requires us to file a Form 10 to register our SALT Tokens under Section 12(g) of the Securities Exchange Act of 1934.

We have been working on the registration process and have been granted a further 30-day extension on our Form 10 filing deadline by the SEC. The Claim Form for purchasers of the SALT Token (applicable to those who purchased SALT Tokens directly from the SALT before and including December 31, 2019) will be available 60 days after the date of the filing of the 1934 Act Registration (or on the date seven (7) days after the 1934 Act Registration becomes effective, whichever date is sooner). For additional information about the claims procedure see the original SEC order.

A Message from SALT on our Form 10 registration statement filing

In September 2020, SALT reached a settlement with the U.S. Securities and Exchange Commission (SEC) related to the offer and sale of SALT Tokens in our “membership token sale” or “initial coin offering” (“ICO”), in which we offered and sold digital tokens (“SALT Tokens”) starting in 2017 through 2019. As part of the settlement, we are preparing to file a Form 10 to register our SALT Tokens under Section 12(g) of the Securities Exchange Act of 1934.

We have been working on the registration process and the SEC has granted us a 75-day extension on our filing deadline — an option that was included in the original SEC order. As a result of this extension, the Claim Form for purchasers of the SALT Token (applicable to those who purchased SALT Tokens directly from the SALT before and including December 31, 2019) will be available 60 days after the date of the filing of the 1934 Act Registration (or on the date seven (7) days after the 1934 Act Registration becomes effective, whichever date is sooner). For additional information about the claims procedure see the original SEC order.

As we work to complete the registration process, we continue to remain focused on providing new avenues for our customers to grow and preserve wealth. Not only have we made significant improvements to our lending product, but we have formed partnerships that will enable us to expand the business beyond lending. We’re excited about SALT’s future and will continue to share updates and milestones via our website.

 

Update: XRP and your SALT account

hand holding a wrench

In light of the uncertainty created by the recent SEC complaint involving Ripple/XRP, we are pausing support for all new XRP deposits on our platform.

Withdrawals of XRP will still be enabled for all users.

If you have any questions about your loan secured by XRP, reply to this email or contact [email protected]

How to Protect Your Anonymity Against Crypto Dusting Attacks

Understanding the nature of dusting attacks and airdropping can help you determine the best way to protect yourself and your crypto holdings from hackers and scammers.

Since Bitcoin’s debut to the public more than a decade ago, supporters have praised the benefits of cryptocurrency transactions including decentralization, transparency and anonymity. While these benefits certainly have their advantages, crypto’s nature also opens you up to a level of risk that has been realized through activities like dusting attacks and airdrops that often go completely unnoticed if crypto holders don’t know what to look for. Fortunately there are steps you can take to protect yourself from malicious entities interested in deanonymizing you. Understanding the nature of dusting attacks and airdropping can help you determine the best way to protect yourself and your crypto holdings from hackers and scammers.

The blockchain: Not as anonymous as you might think

Many people mistakenly think bitcoin is private. It’s anonymous, yes, but not private. A transaction is made up of input(s) and output(s). When you spend, you are creating a transaction using your address as an input. When you receive, your address is given an amount of bitcoin, which becomes the output. All of this transaction information (including the addresses involved, amounts and times of the transactions) are recorded on the blockchain. As that ledger is 100% transparent and public, so are your transactions. Any uninvolved party (people who have not transacted with you directly) examining the blockchain can see the cryptocurrency being received or spent — they just won’t know it’s you spending or receiving it because the owners of the addresses are not revealed. If the person you’re transacting with knows who you are however, they may be able to associate your blockchain wallet (and future transactions) with you, as anonymity only applies when referring to non-involved parties. And even still, a non-involved party may not know who you are from the beginning, but by watching blockchain activity, they may be able to figure it out if your wallet is maliciously “dusted” and use this information to deanonymize you in the future.

Dusting: Revealing your identity, one satoshi at a time

When you use bitcoin to pay for something, one or more addresses (UTXOs) are selected that most closely match the amount due and you receive an output UTXO with your change. For example, if you were paying for something equal to $400 and you had three UTXOs in your wallet equal to $5,000, $5, and $399, you could use the UTXOs equal to $399 and $5 and would receive a UTXO back worth $4. All of this information is recorded on the public ledger.

With dusting, a hacker or scammer sends very small amounts of a cryptocurrency (dust) to a large number of addresses. If you receive dust, you will have a UTXO in your wallet with a very small value. As you spend from your wallet, the attacker watches to see when the dust UTXO is picked up. When it is, they take note of all the other UTXOs that go along with it as well as what addresses they go to. When these entities study transactional patterns long enough, they can eventually identify all the addresses linked to your wallet, which means they can figure out how much crypto you have. If your account is of interest (you have large sums), they can work on figuring out it belongs to you, which can make you a target for anything from scams and phishing campaigns to cyber-extortion threats.

One reason dusting is so insidious is that the amounts of crypto sent to accounts are so very small; they are smaller than the minimum transaction fee required to use cryptocurrency. Most times, the dusting amounts are calculated in units known as satoshis; one satoshi equaling 0.00000001 bitcoin. Given the minuscule size of dust, the chances are pretty good that many people won’t notice them as they casually scan their cryptocurrency total.

Airdropping: Free tokens, potential scams

Airdropping is similar to dusting in that it adds small amounts of crypto to your wallet. But airdropping’s purpose is far less ominous. Companies that airdrop want to use you to spread the word about their great new cryptocurrency. As such, they will send free coins or tokens to your address (found on the public blockchain). Sometimes they send them free and other times they ask for something in return (like a tweet about the company and its currency). You might also actively encourage airdrops to your wallet in hopes that the new cryptocurrency will ultimately have a large payout. There are hundreds of airdrop lists and websites, all eager for your interest.

While the purpose of airdrops is often benign, problems come up when hackers and scammers reach out for more than your public wallet address. If you aren’t careful, you could be at risk from the following:

  • Private key theft. Private key theft takes place when an airdrop entity asks for the private key to your wallet. You should never give out your private key. While more savvy crypto users can spot such a scam, those new to cryptocurrency trading could fall victim to it.
  • Trolling/information collecting. Sometimes nefarious airdrop websites are used, not to promote currencies, but to gather data — such as email, wallet addresses or even social media information — that can be sold to third parties or used for future phishing attempts.

Protect your crypto from malicious dusting and airdrop attacks

Because cryptocurrency transaction information is public knowledge, it’s important to protect yourself, your holdings and your anonymity. In addition to ensuring anti-spam and anti-viral protection for your wallet, consider the following steps.

If you think you’ve been dusted, don’t move the dust. Look for wallet apps that allow you to “mark” small, unknown deposits in your wallet to prevent them from being used for other transactions.

Monitor your balance — 100% of the time. If wayward satoshis suddenly show up in your cryptowallet, you might have been dusted. It’s a good idea to find a wallet app with a push notification, which tells you when you receive new funds.

Don’t give out private information — ever. If a website — or other airdrop entity — wants more than your wallet address in exchange for tokens or coins, it’s a red flag. Be as wary of handing out your cryptocurrency information as you would be of providing fiat bank account log-in data.

Keep your anonymity in place

None of the above is meant to suggest that cryptocurrency trading or usage is dangerous. It is, however, a reminder that while transactions can be anonymous (when actually conducting a transaction you may potentially be revealing information about who you are to complete it, which can then be associated with your wallets), they aren’t private. Unfortunately, scammers and hackers are taking advantage of the very public blockchain technology to determine the identities of those behind cryptocurrency transactions.

The good news is that knowledge is power. You can protect yourself from malicious entities and preserve your anonymity by being aware of attacks like dusting and taking preventative action. Doing so will better protect you and your holdings while helping to ensure you don’t become victim to phishing or cyberextortion threats.

Game Theory and Bitcoin: the Miners’ Perspective

Competition drives markets. In traditional financial markets, however, competition is limited to the production of goods and the buying and selling process. With Bitcoin, competition plays a far-deeper role. The minting of new bitcoin, as well as the processing and verification of transactions, are all made more efficient, accurate, and secure, thanks to competition. It’s no surprise, then, that game theory plays a pivotal role in the inner workings of the Bitcoin ecosystem.

A brief explanation of game theory

Game theory models the strategic interaction between players in a scenario with set rules and outcomes where the players are rational and looking to maximize their payoffs. In effect, it’s a more detailed, nuanced way of looking at how incentives affect how things get done.

For example, if your job is to shovel 100 pounds of stone into a hole and you’re all alone and have all the time you want, there’s no game theory involved. On the other hand, if someone else is given the same task and you’re each working with the same pile of stones, the dynamics of the situation change.

They change further if only the person who shovels the most gets paid. And, naturally, if you get paid according to how much you shovel, the outcome of your actions would change in yet another way. Each of these situations will be impacted by game theory and its many models.

Although Bitcoin seeks to espouse concepts like “fairness,” “transparency,” and others that are often incongruent with competition, game theory still plays a primary role in the Bitcoin universe.

How does game theory apply to Bitcoin mining?

Bitcoin mining involves solving math problems that are used to create new bitcoin and verify transactions. To continue with the stone shoveling example, if you have as long as you want to move the pile of stones, you may choose to take your time. Your shovel may move slower than if someone else were involved in the task because then the speed at which you shovel would determine whether you get paid more, less, or at all.

The fact that multiple miners compete to verify transactions and generate coins gives Bitcoin an inherent efficiency: The job gets done faster. To dig a little deeper, three types of game theory driving this process include zero-sum theory, congestion theory, and the Nash equilibrium. Let’s take a closer look at how these concepts work.

Bitcoin mining and zero-sum theory

Zero-sum theory dictates that the “winner” gets the spoils and everyone else walks away with nothing. In the mining of bitcoin, the first person to solve a problem gets the value associated with completing the task. Everyone else gets nothing. If you could take a snapshot of the nanosecond a particular hash is found, you would see one user getting rewarded for their work and the others getting nothing.

However, because the Bitcoin system requires so many problems to be solved all the time, in reality, many miners can earn a relatively steady income. The strategies they use are governed by two other game theory concepts — the congestion theory and the Nash equilibrium.

Bitcoin mining and congestion theory

Congestion theory stipulates that the amount each player gets depends on the resources they choose and how many other players choose the same resources.

For example, imagine there are two stations with trains heading to the same destination, and each train can hold only 10 people. One train station is five miles closer to the destination. If there are 100 people, and everyone goes to the closer station, one train will have to go back and forth 10 times. On the other hand, if some of the passengers go to the closest station and others go to the station farther away, there will be less congestion, and everyone will arrive at the destination sooner.

In Bitcoin mining, many of the decisions of the miners depend on congestion theory. If there was only one miner, all the spoils would go to her or him. On the other hand, Bitcoin is open to all, so each miner has to decide whether they will get in the game — and add to the congestion — knowing that more people are bound to get in the game, decreasing their chance of winning.

Once a miner decides to get involved, they then have other decisions to make regarding the equipment they choose. Faster equipment provides an advantage, similar to getting on the closer train. However, the quicker the equipment, the more electricity it takes to run, which increases the cost of mining.

If a miner’s earnings won’t sufficiently offset the cost of electricity, they may choose not to get involved. They may also choose to forego setting up a mining system and join a mining pool instead, where the electricity costs are absorbed by multiple participants. Congestion theory dictates which “train” each miner takes, as well as when and how they get involved.

In addition, the way the decisions of each miner affects the others is governed largely by another game theory concept: the Nash Equilibrium.

Bitcoin mining and the Nash Equilibrium

In the Nash equilibrium, named after mathematician John Nash from the movie A Beautiful Mind, each “player” recognizes that while they have similar goals, not everyone can get exactly what they want. Therefore, some will choose to settle for a less-desirable outcome, satisfied with the fact that they are at least getting something. All players agree to proceed, happy to share the spoils.

For example, continuing with the stone shoveling scenario, you may be stronger and faster than the other shoveler. Both of you agree to shovel for the same amount of time, but you get 70% of the money while the other shoveler only gets 30%. The other person could protest, but realizing that something is better than nothing, they agree to the terms. At this point, an equilibrium is established. At the end of the day, you both earn money and walk away satisfied.

The worldwide community of miners also follows Nash equilibrium principles. Some miners have more money than others and can afford to purchase the latest mining computers, capable of solving specific hashes faster than older models. Other miners may not have as much money, but they live in areas where electricity is less expensive. They can, therefore, spend less than wealthier miners who live in areas where electricity is more costly. Some live in places where it will never be profitable to mine, so they join a mining pool instead.

Each miner recognizes that their limitations dictate how much they will get. At the same time, all agree to participate, satisfied with their portion at the end of the day — even if it’s just a small fraction of a bitcoin.

How miners are incentivized

Zero-sum theory, congestion theory, and the Nash equilibrium only work because of the ways miners are incentivized and dissuaded from cheating the system. Before mining rewards are approved, the technical infrastructure enforces the “trustless” nature of the Bitcoin network. If miners do not adhere to protocol rules, their block submission will be rejected by other nodes in the blockchain. All network nodes including other miners verify the ledger entries packaged into a new block. If entries are considered invalid, or the block hash doesn’t meet network requirements, the miner’s result will be rejected and the 6.25 BTC will be awarded to another miner.

While the block rewards are enticing at current BTC valuations, there are other financial implications that compel miners to either continue or suspend network operations. No miner will win the worldwide competition each time a new block is added (~every 10 minutes), so they must weigh the probability of profitable successes. There are other factors to consider, too. For example, some miners may decide to bow out when electricity becomes too expensive. Others however, may have a longer time horizon and decide to accept the risk of energy expenditure, calculating that miner attrition will increase their chances of winning new block rewards. In other words, fewer miners in the network means more chances for the remaining miners to profit. For those adopting this viewpoint, the potential of solving enough blocks to maintain business profitability outweighs the risk of any short-term loss related to high energy costs.

How bitcoin is distributed

Every block consists of many small transactions. When a block is mined, the winning miner is awarded 6.25 bitcoin plus all transaction fees for each transaction they were able to package within the block. The more blocks you are able to solve, the higher your reward. In other words, you get a bigger piece of the pie. Hunger for more slices of pie incentivizes miners to purchase more powerful equipment or move to areas with lower electricity costs.

Game theory and the surety of the Bitcoin network

The Nash equilibrium helps motivate miners to do more than generate new bitcoin. Each miner has no choice but to play a role in making sure the network functions as it should. This is a part of the “pile of stones” each miner agrees to shovel.

In a Nash equilibrium, although the individual participants would like to either get more rewards or a different type of reward, they agree to settle with getting something of value rather than nothing. The Bitcoin network compels miners to play by an agreed set of rules to add transactions to the distributed ledger, or their work will be summarily rejected. At the same time miners add security to the network by expending expensive energy that chains each new block to the preceding block via a well established mathematical algorithm.

Each miner is, therefore, a generator of new bitcoin liquidity as well as an auditor, checking the details of network transactions. Even though each problem solved involves a zero-sum game and congestion theory dictates how each miner approaches the task, everyone works in a happy Nash equilibrium.

In the end, game theory is an underestimated, yet essential, element of the Bitcoin network. As each miner plays their role, historical transactions are kept secure and new transactions unanimously approved, which helps maintain Bitcoin’s position as the number one digital currency in the worldC

 

SALT Stabilization: How it Works

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I’ve Been Stabilized. What’s Next?

When your Loan-to-Value ratio (LTV) exceeds 90.91%, we stabilize your loan by converting all of your volatile assets into stablecoin (USDC).

At this point, you will notice that your USDC wallet reflects the total US Dollar value of your combined portfolio. Each collateral wallet balance will show $0. Don’t panic!

How Do I Convert Back to My Original Assets?

To get your original assets back, you will need to manage your LTV and restore the health of your loan to a safe state (83.33% LTV or lower). To do this, follow these steps.

  1. Navigate to the Loan Status page or click “Manage LTV” in the notification module on the dashboard.
Image for post 2. Manage your LTV by either depositing more crypto or making a one-time payment in the Manage LTV Module. Image for post

3. We recommend curing your LTV to a healthy state (<70%), but as long as you have managed it to 83.3% or below, you will be eligible to convert.

4. Navigate back to the Loan Status Page. You will see that your LTV has dropped, but you are still being held in Stabilization Mode.

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5. In the Manage LTV module, you will notice that you are now eligible to convert. Click “Convert Now” to convert back to your original assets or to a mix of any assets we accept as collateral.

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6. The convert tool will default to the percentages of your original collateral mix. You may edit this and convert back to a different collateral mix if you’d like.

7. Click “Next” to review the details of your conversion and then click “Convert Now” to confirm. Once confirmed, you will have successfully reverted back to your asset mix of choice.

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Still have questions about stabilization?

Please call our support team at +1 (720) 575–2272.

SALT Lending Reaches Settlement with the U.S. Securities and Exchange Commission- What it Means

What does this mean for SALT Lending?

Salt has cooperated with the SEC and has been working toward a settlement for many months. Now that we have reached a settlement with the SEC, we plans to expand our product offerings to include products focused on asset management and the preservation of wealth.

We recently released a new stabilization product that enables users to preserve the value of their portfolio in the event of a market downturn and are looking forward to offering additional products design to help our customers build and preserve their wealth.

What does this mean for holders of the SALT Token?

For those of you who hold SALT and wish to use it on our platform, you can still use SALT to lower your interest rate or use as collateral for your crypto-backed loan, as well as use it to pay fees and interest.

Anyone who bought SALT from us directly before and including 12/31/2019 will have an opportunity to submit a written claim to recover the consideration paid plus interest. Any income already received on the token will be deducted from the refund amount. If the purchaser no longer owns the SALT Token, then they can apply to recover damages. We’re in the early stages of registering the token with the SEC. Once that process is complete we will provide a claim form for direct purchasers to complete. We expect that form to be available in the early part of 2021.

SALT Lending Reaches Settlement with the U.S. Securities and Exchange Commission

A Message From SALT

September 30, 2020 (DENVER) — Salt Blockchain Inc. f/k/a Salt Lending Holdings, Inc. (“Salt” or the “Company”), a company that provides crypto-backed loans and is expanding its product offerings to include wealth management services, today announced it has reached a settlement with the U.S. Securities and Exchange Commission (“SEC”) related to Salt’s offer and sale of SALT Tokens in its “membership token sale” or “initial coin offering” (“ICO”), in which the Company offered and sold digital tokens (“SALT Tokens”) starting in 2017 through 2019. The SEC has simultaneously granted Salt an important waiver that will among other things allow the Company to participate in future capital raising activities under Regulation D of the Securities Act of 1933 (“Securities Act”).

Salt has cooperated with the SEC and has been working toward a settlement for many months. Throughout that time, Salt has continued to grow and has proven the viability of the lending business and technology described to investors in connection with the ICO. Now that the Company and the SEC have reached a settlement, Salt plans to expand its product offerings to include products focused on asset management and the preservation of wealth. “As part of Salt’s current leadership team, I can speak to the fact that this experience has certainly been a humbling one. While it has forced us to hit pause on a number of initiatives and product releases, it has also given us time to think about how we want to evolve the business,” said CEO of Salt Justin English. “I’m excited about Salt’s future and am grateful for the opportunity to pursue our vision of building products and services that will help our customers build and preserve their wealth.”

Without admitting or denying the findings in the order, the Company consented to the entry of an administrative order that requires it, among other things, to cease and desist from future violations of the offering and registration provisions of the federal securities laws (the “SEC Settlement”). Under the terms of the SEC Settlement, the Company will register SALT Tokens under Section 12(g) of the Securities Exchange Act of 1934 as a class of securities, maintain that registration and make timely filings as required by law and the SEC Settlement, and pay a civil monetary penalty of $250,000.

In addition, under the terms of the SEC Settlement, the Company will administer a claims procedure available to those who purchased SALT Tokens directly from the Company before and including December 31, 2019. Pursuant to that claims procedure, purchasers of SALT Tokens from the Company before and including December 31, 2019 who elect to participate and timely submit a complete Claim Form and required supporting documentation will be permitted to provide their SALT Tokens to the Company in exchange for payment of the amount due under Section 12(a) of the Securities Act (consideration paid with interest thereon, less the amount of any income received or damages if the person no longer owns the security). The Company will distribute a Claim Form to purchasers in accordance with the terms of the SEC Settlement. As required by the SEC Settlement, the Company will submit a monthly report to the SEC of the claims received and the claims paid under its voluntary claims procedure as described in paragraph 17 of the Undertakings in the SEC Order. The SEC Order is available at https://www.sec.gov/enforce/33-10865-s.

How to Grow Your Business Capital Through Cryptocurrency

By Annabelle Pollack

Disclaimer: Buying cryptocurrency is risky. This article is for informational and educational purposes only and does not constitute investment or financial advice.

Cryptocurrency is reshaping the finance and business worlds. Not only has it challenged conventional thinking, but it has provided new avenues for entrepreneurs and business owners to start and grow their businesses in these uncertain times. Many of them have turned to crypto as a way to raise initial capital or to fund ongoing operational costs. If you’re seeking creative ways to grow your business capital through cryptocurrency, there are a few ways to go about it — the most important thing when it comes to getting involved with crypto is doing your research to identify the best avenue for achieving your business goals.

Choose the right cryptocurrency for your business

When it comes to determining which cryptocurrency is the ideal fit for your business, you have several options from which to choose. At the moment, there are already more than 1,000 unique cryptocurrencies in which you can transact. But just as there are blue-chip stocks, a guide to cryptocurrencies by FXCM details how some digital currencies are considered the “gold standard” of the industry. At the top is Bitcoin, which is regarded as the first incarnation of cryptocurrency and is projected to have a market capitalization of $1 trillion in the near future. Next is Ethereum, whose $83 billion market capitalization is poised to expand in the coming years due to its growth potential in the online sphere. Then, there is Litecoin, and its surging market cap of over $18 billion. Bitcoin, Ethereum, and Litecoin are seen as the strongest investments, with Yahoo! Finance noting how a high market cap is indicative of high investor activity. All three are extremely liquid, too, which means they can be easily sold at the market price. Each cryptocurrency is different and may boast specific features that others do not. Some factors to consider as you’re choosing a cryptoasset for your business are security, privacy, transaction speed, block times, market cap, liquidity, and the blockchain upon which the cryptocurrency is built. Once you identify which factors are most important to you, you can narrow down your options and choose the crypto(s) best suited for your business.

Buy and Trade Crypto

Once you’ve done your research, identified your cryptocurrency of choice, and learned the ins and outs of the industry, you can evaluate whether you’re confident enough in your knowledge to move forward with buying and trading digital currencies. That being said, it’s essential to prioritize safety and security regardless of whether you’re trading frequently or buying for the long term. A good way to do that is to find a reputable online cryptocurrency trading platform that can help you buy and trade crypto, as well as help protect your investments. Some trading platforms even offer crypto CFDs (not available in the United States) that don’t require a special wallet or exchange account, but will ask you to speculate on the direction of their price movements instead. You can also invest in several coins at the same time, as doing so may help you mitigate the risk that comes with putting all your eggs in one basket. This way, you’re more likely to see your business capital increase.

Get a crypto-backed loan

In an instance where you need cash but are unwilling to part with your crypto entirely, consider taking out a crypto-backed business loan. As the name suggests, this type of loan is secured by cryptocurrency, offering a way for you to get cash or stablecoin without having to sell your cryptoassets. The amount of cryptoassets you’ll be required to put up as collateral is contingent on a few factors including your loan amount, loan duration, and Loan-to-Value ratio (LTV). If this option appeals to you, a SALT loan might be just what you’re looking for. SALT accepts a dozen coins as collateral including Bitcoin, Ether, and Litecoin, and you can choose one or more of the offered collateral types to secure your loan. SALT also offers flexible loan terms, allowing you to choose your desired loan-to-value ratio from 30%-70% (amount borrowed divided by the value of your crypto), the duration of your loan (3–12 months), and whether you’d like to receive your loan proceeds in fiat or stablecoin. Interest rates are competitive, too. By taking out a crypto-backed loan, you can secure the funds to start a new business or operate and improve an existing one without selling your crypto.

Accept cryptocurrency payments

Another way that a business can generate further capital is to accept payments via cryptocurrency. For instance, Business2Community claims that businesses can lower the transaction fees involved during payment transactions due to the high number of peer-to-peer processing networks accepting popular coins. Compared to traditional methods like wire transfers and check payments, cryptocurrency can be a lot faster and more efficient. In addition, cryptocurrency transactions can be conducted directly between the business and the customer on the blockchain, which avoids the potential for third-party scams and external payment disputes. By accepting cryptocurrency payments, businesses can simultaneously grow their capital and streamline payment processes.

While there are significant risks that accompany cryptocurrency investments, doing your research and being diligent can help you significantly grow your business capital and fund new developments. Exploring different payment options and looking into specific coins can help you become more knowledgeable when it comes to determining the best way for you to start or operate your business.

 

SALT Announces the Recipient of the 2020 SALT Opportunity Scholarship & Internship

SALT is proud to announce De’Alsha Diamond as the recipient of the 2020 SALT Opportunity Scholarship & Internship.

“The program is part of our commitment to diversity and is intended to provide educational and work experience opportunities while helping remove financial barriers for those that have been underrepresented in the STEM fields and FinTech industry,”said Debra Johnston, Chief People Officer at SALT. “ We are excited to be a part of the next steps in De’Alsha’s journey and to continue working toward the long-term goal of building a more diverse and inclusive workforce.”

De’Alsha Diamond graduated from Montbello High School in Denver with a 4.0 GPA and has since obtained certificates in Web & Graphic Design and Healthcare Patient Services from the Community College of Aurora. She recently worked in Quality Assurance at Ibotta and is also a graduate of the Professional Development program through CrossPurpose, a non-profit organization focused on abolishing relational, economic, and spiritual poverty through career and community development.

As the recipient of SALT’s scholarship, De’Alsha, as of September 21, 2020, is attending a Software Engineering course through General Assembly, a leading global technology education organization providing robust training in mobile and software engineering, data science, product management, and other digital-related skills. The Software Engineering course is a 12-week, full-time program designed to transform students from novices to job-ready, full-stack software engineers. Following the successful completion of the course, De’Alsha will have the opportunity to partake in a 12-week paid, part-time internship at SALT where she will be able to apply her knowledge and work alongside our software engineers.

Participation in the SALT Opportunity Scholarship & Internship program will enable De’Alsha to expand her coding abilities and gain related work experience that will help her pursue a career in software engineering.

“Diversity in the workplace is essential for so many reasons, primarily because of all of the different perspectives that come with it,” said Brandon West, Product Director at SALT. “I think most people struggle to understand what other people go through and they naturally see the world through their own eyes. When you start to diversify your workforce, you start to understand the world differently — you begin to think about different personas and users of your products and rather than problem solving and engineering for the same type of person, you begin to do that for everybody. That’s the value that diversity adds to a company.”