What is the American Dream?

Oxford Languages defines it as:

the ideal by which equality of opportunity is available to any American, allowing the highest aspirations and goals to be achieved.

Let’s explore the truth behind the above definition. I am a former college basketball player turned crypto enthusiast and financial literacy advocate, but let’s dive into my upbringing and I'll let you determine the validity of the American Dream.

I grew up in inner city Philadelphia, one of nine children to a single mother and an incarcerated father. We grew up with 10 people in a three bedroom home. As a child I went to an inner city public school that was severely under-resourced. I had classes with 35 students yet only 20 textbooks. We weren’t even afforded the opportunity to properly learn. We started going through metal detectors in 5th grade. School staff could stop and frisk us at any point during the day, also requiring us to only carry clear backpacks. Due to the ‘No Child Left Behind' rule, which required teachers to pass students regardless of performance, K-8, I had friends who were in high school reading at a 6th grade level. Our schools were understaffed, leaving many kids to fend for themselves educationally. Sadly, I had several friends drop out of school in 8th and 9th grade. The environment we were brought up in essentially set us up to fail. Beyond the lack of educational resources we were surrounded by negativity and violence. I was first affected by gun violence at age 12.

If you show a child better they do better, yet we were conditioned as prisoners as children. How can you expect us to become something we’ve never seen? For me, making it out required a mentality I never directly saw, there were no role models. It took dedication, a will to defy the status quo, and A LOT of luck.

I’ll let you decide, is that equal opportunity?

We often cite our nation's widening wealth disparity, the gap is as wide now as it was in 1968. Furthermore, it will take Black families 228 years to earn the same amount of wealth White families have today.

But as Sheldon previously stated, beneath the racial wealth gap underlies an opportunity gap. In 1934 the FHA unleashed a massive mortgage market, subsidizing the creation of what we now know as suburban America, but under a single condition, homes could not be sold or resold to Black Americans. Housing discrimination was formally outlawed in 1968 with the passing of the Civil Rights Act. But systemic biases were already deeply ingrained into the system. Even today, lenders deny mortgages for Blacks at a rate 80% higher than Whites.

Again, I’ll let you decide, is that equal opportunity?

But I am not here to paint this as a Black versus White issue. This is a Black, and White, and Hispanic, and Asian, and Indian, and Native, and every race represented in the melting pot of America’s issue.

Because a stronger Black and Brown economy is a stronger broader economy!

We are happy to announce BankDAO, the embodiment of American Dream3.0

We are a community of athletes, bankers, crypto enthusiasts, and developers coming together to own and operate a bank.

The American Dream3.0 will seek to do what its predecessor couldn't…

Provide equal opportunity for all.

We believe that race, background, lifestyle, and socio-economic status should not be a barrier to opportunity.

BankDAO will provide opportunity to education, opportunity to leverage resources, and opportunity to access capital for the underserved. We seek to create a virtuous cycle of value, where revenue generated from banking activities becomes value returned to our community.

Unlike traditional banks, revenue will be contributed to a community treasury, where the people democratically vote on how capital is allocated. Treasury capital will be allocated to educational programs, scholarship grants, and community initiatives, among other workstreams.

We the people, can build a bank like no other, a bank where people matter.

In order for change to occur, the voices of the marginalized must be heard. Web3.0 gives a voice to the voiceless, and power to the once powerless. To every single mom, college student struggling to get through, young professional living paycheck to paycheck. We hear you…we see you, we want to service you.

And to all financial professionals, financial literacy advocates, crypto natives, community builders, let’s build the dopest, most inclusive, and empowering financial system in this country.

BankDAO, where equal access provides equal opportunity. Join us!!!