Cracking the Crypto Code: Unraveling the Complexities of Digital Finance With Amanda Wick
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On this episode of Crypto Bits, host Seth DuCharme is joined by Amanda Wick, founder and CEO of the Association for Women in Cryptocurrency. Amanda explores cryptocurrency value, the advantage of blockchain technology's advantages, and the importance of efficiency, competition and compliance. Amanda envisions a crypto future driven by inclusivity, constructive regulatory dialogue and innovation. She also highlights the unique value of NFTs as verifiable, authentic digital assets with intrinsic worth.
Name: Amanda Wick
About: Amanda is the founder and CEO of the Association for Women in Cryptocurrency, a professional association for women and male allies in the cryptocurrency, blockchain and web3 industries. Amanda previously served as the senior investigative counsel for the House of Representatives after working in various policy and enforcement positions at FinCEN and the Department of Justice. She was also the chief of legal affairs for Chainalysis, where she advised internal and external stakeholders on the forefront of cryptocurrency and its evolving landscape.
Company: Association for Women in Cryptocurrency
[01:06] Crypto career beginnings: Amanda shares her unlikely entry into a crypto career, the limited information available, and how she and her colleagues had to teach themselves about Bitcoin.
[05:30] Demystifying crypto: Once seen as strictly a criminal enterprise, crypto use has entered more mainstream applications in recent years. However, the general public still lacks a firm understanding of the crypto space.
[09:16] From prosecutor to crypto proponent: Amanda recounts her crypto origin story as a federal prosecutor working her first crypto money laundering case.
[14:37] Crypto resistance: As is the case with most technological advances, resistance to crypto stems from a steep learning curve.
[17:36] Bank analogy: To illustrate how crypto works, Amanda compares a bank ledger to a crypto ledger maintained by a decentralized computer network.
[22:18] Traditional finance versus crypto: Amanda examines the Bank Secrecy Act, modernization needs, crypto's advantages and disadvantages, and blockchain visibility.
[31:22] Recipe for a bright crypto future: Success in digital assets requires inclusivity, educational conversations and proactive government.
[37:32] What got you here won’t get you there: Amanda and Seth stress the importance of due diligence, innovation and an evolution in our approach to digital finances.
[40:12] The two mentalities needed in the crypto space: Embrace asking questions and risk-taking to better understand and succeed in the crypto space.
[47:07] The intrinsic value of NFTs: Seth offers an analogy for NFT value, while Amanda discusses misconceptions, legality and the benefits of consulting a lawyer.
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The opinions expressed in this podcast are those of the speakers and do not necessarily reflect the viewpoint of their institutions or clients.