Data Is Labor: Why We Need Data Unions

Ahead of the Senate Banking Committee’s anticipated markup of the CLARITY Act on Thursday, the bill is facing a fresh wave of opposition—this time from major labor unions.  In a letter that warned senators the measure could put retirement security at risk, multiple unions argued the legislation would introduce new instability into retirement plans for […]

How unions and Bitcoin both serve to protect the interests of working people through dissemination of governance.

Credit unions may one day find some of their core functions replicated by bitcoin, a new report suggests. According to Mercator Advisory Group, a global consultancy for the payments industry, such an evolution would only occur should bitcoin's market volatility lessen and security mechanisms develop further. The report, entitled Understanding Bitcoin's Implications for Credit Unions, largely serves as a vehicle for understanding the fundamentals of bitcoin and its distributed ledger, the blockchain. Not until the last page does the report turn to the implications of the technology on....

The U.S. Department of Labor has been sued by a 401(k) plan administrator over its cryptocurrency guidance. “This lawsuit seeks to preserve the rights of American investors to choose how to invest money in their own retirement accounts.” U.S. Labor Department Sued Over Crypto Guidance The U.S. Department of Labor (DOL) and Secretary of Labor Martin J. Walsh have been sued over the department’s Compliance Assistance Release No. 2022-01. The guidance, titled “401(k) Plan Investments in ‘Cryptocurrencies,'” was issued on March 10. ....

Banks are expensive and inaccessible for many, especially for the poor. “Not only is banking not for everyone, accounts are inaccessible to about half of the world. People are too poor, live too far from a bank, or don’t have the required documentation,” according to CNN. As a result, billions of people in the world are unbanked or underbanked. As a....