Zura Guerra Stewart Alsop Decentralized Currencies

Decentralized Currency Effect on Nation-States – Zura Guerra on Crazy Wisdom Podcast

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Key Takeaways

  • The biggest challenge for entrepreneurs in most of Latin America is receiving global payments
  • Despite extensive money printing, the Dollar still enjoys global trust
  • Nation-states are a centralized way to take care of citizens requirements
    • Cryptocurrencies are an important part of a decentralized, open-source, and global alternative
  • Bitcoin adoption is subject to its acceptance as a store of value and medium of exchange
  • Startups are an asset class, not just businesses
    • Most asset classes are bets on existing value, startups create value by creating something new

Intro

Startup Challenges in Latin America

  • The biggest challenge for entrepreneurs in most of Latin America is receiving global payments
    • The technical infrastructure and customer support are limited when it comes to financial solutions
    • Additionally, solutions like Stripe and PayPal are either unavailable or subject to numerous regulations
  • Cash remains the dominant medium of exchange and it should be seamlessly integrated into payment solutions

Crypto Currency

  • One can easily fly across Latin America in a few hours, so it doesn’t make sense to have different currencies and payment systems for each country
    • Many Latin Americans are using Crypto to bypass bank fees and paperwork for international remittances,
  • Locally, central banks are launching their own instant payment systems in an effort to transition to a cashless society
  • Cryptocurrencies witnessed an exponential rise driven by a primal desire for returns
    • People thought “I might as well lose everything I have, but I am expecting something higher in return” – Zura Guerra
    • That said, there are some valuable projects out there

Nation-States

  • Nation-states are a centralized way to take care of citizens requirements
    • Cryptocurrencies are an important part of a decentralized, open-source, and global alternative
      • For instance, when governments were thinking about helicopter money to citizens, Uniswap protocol set a precedent for a global money airdrop
  • People can contribute to building and using a decentralized network and simultaneously build wealth when its value increases
    • Akin to a company doing an IPO then giving shares to its users
  • Currencies are built on trust, inflation and money printing erodes trust in fiat currencies
    • Keep in mind, people globally still trust the Dollar
    • Bitcoin adoption is subject to its acceptance as a store of value and medium of exchange

Building startups

  • Startups are an asset class, not just businesses
    • Evident in tech stocks being one of the rare profitable investments during the pandemic
    • That said, they still must behave like a business
  • Most asset classes are bets on existing value, startups create value by creating something new
  • Crypto and startups are bound to merge. However, changing between crypto and fiat needs to become seamless and integrated at scale
Crazy Wisdom : , , , , ,
Notes By Mostafa Khaled

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