Tuesday night, Brit + Co discussed all things about Bitcoin, Blockchain and others Deciphering Crypto: a primer for women who invest in digital currencies. The event included some of the best thinkers and entrepreneurs in the cryptic sector, with the goal of educating women on this growing sphere. Currently, women represent only four percent of cryptocurrency investors, now a $ 500 billion market, so opportunities could be huge.
If you could not attend the meeting in person or via live streaming, take a look at the five main highlights below. So be sure to follow the buzz with the hashtag #DecryptingCrypto.
1. Cryptocurrency is changing history. Dave Morin, Partner of Slow Ventures, set the tone for the night telling us how the cryptocurrency is changing the course of history, but not before providing a context around what "cryptography" means exactly. In short, cryptocurrency is a digital currency that uses cryptography to ensure a secure transaction (Bitcoin was the first decentralized digital currency). Although it has had a very volatile (and public) past, it has also had an incredibly fundamental aspect. "Up to this point in society, there were only a few currencies that dominated the conversation … It is the first time in history that we take things that were not in the past and turn them into currencies that can be traded in various ways" he said. Since the technology behind digital money has finally reached these secure transactions, there remains a new form of exchange, none of which would have been possible without our next point …
2. Trust is everything. An important keyword of the night – Blockchain – has been discussed in detail. For those of you who do not know, it is essentially a server that allows you to send and receive money and keep a record in the crypto-sphere (Morin has compared it to a similar email server). Since it is not controlled by anyone, it is redefining the way we rely on our financial institutions. As he said, "Change the possibility for all of us to trust one another when we do Internet transactions … you no longer have to trust any entity, you can trust your server in your home; somebody's server on the Internet, they're all connected to the network and every single server has a copy of the ledger running the entire system, and it's completely off-center, and if a computer goes down, the network keeps running "The sending and receiving of $ is now much more transparent and fast, as we are bypassing traditional banking processes and putting them directly into the hands of the consumer.
3. Arianna Simpson explains why this trend is * as * discussed. If you have recently been on one of the main multimedia sources, you are probably aware of the cryptocurrency. But Arianna Simpson, Managing Director of Autonomous Partners and one of the 100 most influential people in the crypt, provided more details on why there is so much clamor. The "bubble activity", as he called it, is nothing but the beginning of a long-standing trend. "The market has appreciated but it is still relatively small, you do not need much money to move the market," he said. So while you're seeing great ebbs (people making a lot of money), there are inevitable flows (price corrections / drops) to counter them. Based on this, he emphasized the importance of not being caught too much in these high points. "The main technological trends require decades," he said. "Taking the time to understand [them] it is essential to understand space. "
4. Good news: it is not necessary to be experts to get involved. If talking about Bitcoin, Ethereum and ICO makes you dizzy, do not worry. Some professionals are still becoming familiar with the industry. And Simpson encourages you to do the same. "There's an unexpressed expectation that you have to be an expert before doing anything," he said. However, permission to play in space is not required. "Start by dipping your toes, reading, doing it physically, playing with it, you will not really understand it until you've done it physically," he encouraged. All this said, it is important to keep a rule for the mind: "Do not add a sum where you will lose sleep," he said.
5. Here is where the cryptocurrency is headed. Nathana Sharma, partner of Crypto Lotus and Faculty of Law, spoke about the future of cryptocurrency: "[It’s a] the new economy we are building … is an exciting starting point to get to know a new set of technology that builds our future. "With the potential for augmented reality integrations and daily digital payments, there's a lot to the cryptocurrency horizon, and after last night's summit, we're eager to learn more.
Follow the #DecryptingCrypto hashtag to see more from the event, so check us @BritandCo for more information and information.
(Photo via Brittany Griffin / Brit + Co)