Under the glaring Las Vegas sun, a conference called RePlatform took place last Friday at the Horseshoe Casino. The conference showcased companies fighting the trend of giant corporations de-banking and deplatforming dissenting views. In an ironic twist, the conference was deplatformed by a Big Tech company.
Stripe, one of America's major payment processors, has withdrawn its services from the freedom economy conference RePlatform Vegas. Despite this setback, the conference proceeded as planned Friday, March 8, to Sunday, March 10, in Las Vegas. The event aimed to connect companies, investors, and consumers within the parallel economy in response to the deplatforming efforts of corporate America.
During the preparations for RePlatform, the organizers encountered multiple attempts at cancellation. The organizers allege that Stripe withheld tens of thousands of dollars essential for the conference's production, thereby jeopardizing the efforts of this new startup.
David Ragsdale, RePlatform's chief executive officer, spoke with Blaze News to recount the conference’s challenges.
“During our heaviest marketing blitz, Stripe sequestered our funds on the basis of one refund request, forcing us to pause sales to switch to GabPay and changing the entire nature of our conference into a B2B networking event. The fact that most of Stripe’s competitors are at RePlatform is interesting,” Ragsdale explained.
“This is why we need the parallel economy to grow faster, proving the point of RePlatform.”
Fortunately, a featured company at the conference was able to step up and handle payment processing. GabPay is an alternative payment service offering online, real-time transactions; credit card merchant processing; and banking services.
GabPay COO Dan Eddy explained why what happened to RePlatform is emblematic of a larger trend in the financial services sector: Companies and individuals can lose access to financial networks at the arbitrary whim of Big Tech.
“Stripe’s growth and technology offering is nothing short of amazing. However, its seemingly arbitrary process closing accounts for community guidelines violations is crushing small businesses,” Eddy told me.
While it was a massive inconvenience for the organizers and attendees, it does highlight why a conference like RePlatform is so essential at this moment, as a culture of censorship is permeating major tech and financial platforms. This trend of canceling voices that speak out on issues as diverse as COVID-19 to the war in Ukraine should be very concerning for anyone who cares about free speech.
It’s bad enough to be removed from social media, but when individuals and organizations are barred from participating in standard banking and financial services, it signals a terrifying new front in the war on free speech. China has used this tactic to great effect to silence domestic political opponents, and sadly, it’s becoming a reality for Americans critical of mainstream opinions.
I spoke with Joe Rodgers, the publisher of Bitcoin magazine, about this trend.
“I was de-banked from Bank of America, so this is not something we're unfamiliar with. Amex quit credit card processing for us because we're a Bitcoin business, so we’re unfortunately familiar with this reality,” Rodgers said. “I think that's why this conference is important.”
Despite the setbacks and the ominous trend of censorship, the attendees I spoke with were excited about the future. Events like RePlatform highlight a movement that cares deeply about freedom of speech and is building the tools needed to fight back.
Stripe did not respond to a request for comment.
