<p>In this episode, I talk with <a target="_blank" href="https://www.linkedin.com/in/victoria-m-mariscal/">Victoria Mariscal</a>, who has immersed herself in the world of Web3, marketing innovation, storytelling, and global culture. She is the Head of DAO (Decentralized Autonomous Organization) Operations at <a target="_blank" href="https://myosin.xyz/">Myosin.xyz</a>, but works as an independent fractional marketing and operations advisor for other companies as well. I love these kinds of conversations. We had a general idea of what we wanted to cover, but then let it take shape organically where we could explore both intersecting and divergent viewpoints. I wanted to compare notes with Victoria about how she sees digital currencies (crypto, stable coins, etc) playing a role in powering a more decentralized economy and ethical technology futures—particularly for women and other groups who have been traditionally left out of these conversations. </p><p>Ever since December of 2017, when Bitcoin hit its first major spike and opened my eyes to the value of blockchain with decentralized, transparent record keeping, I’ve felt that this technology would eventually underpin (and help usher in) a different style of economy. </p><p>It feels like we are on the edge of that moment. Financial establishments and governments are beginning to embrace digital currency, the global economy is being reshuffled, and new alliances are being formed across industries. Economics is rooted in social and human behavior. Where people decide to concentrate value is where new economic activity takes place and new economies are formed. When old systems can no longer hold the energy of new ideas, that’s when innovation occurs. </p><p>To be clear: I’m a novice in the space of Web3, crypto, stable coins, and digital currencies. This is not an episode providing financial or investing advice. It’s more of an invitation to join me in getting curious. From my core understanding, as a system built on decentralized ethos, these are very compelling tools that could support a more democratized (socially driven) version of capitalism through greater autonomy for individuals to grow personal wealth, enhanced methods for transparent trade, and generally a path to decentralize finance in a way we haven’t seen in modern history. I understand why traditional institutions either feel threatened by this or have actively looked for ways to cut themselves in. </p><p>Wikipedia’s definition is, “Fiat money generally does not have <a target="_blank" href="https://en.wikipedia.org/wiki/Intrinsic_value_(finance)">intrinsic value</a> and does not have <a target="_blank" href="https://en.wikipedia.org/wiki/Use_value">use value</a>. It has value only because the individuals who use it (as a unit of account or, in the case of currency, a <a target="_blank" href="https://en.wikipedia.org/wiki/Medium_of_exchange">medium of exchange</a>) agree on its value.<a target="_blank" href="https://en.wikipedia.org/wiki/Fiat_money#cite_note-Goldberg-1">[1]</a> They trust that it will be accepted by merchants and other people as a means of payment for liabilities.” In short, it carries value because of an *idea* of value. So if people decide that they value the *idea* of digital, distributed currency more than traditional currencies, what’s to stop the transfer of investment from national dollars to something built for more direct access? </p><p>Of course there are risks involved. Just last week, <a target="_blank" href="https://economictimes.indiatimes.com/news/international/us/trader-makes-88-million-in-30-minutes-times-trumps-tariff-move-perfectly-with-bitcoin-short/articleshow/124479879.cms?from=mdr">Bitcoin was shorted</a> by what suspiciously looks like insider trading and a lot of people lost small fortunes. It is still a very wild place to play. In some ways, Bitcoin has become absorbed into the traditional finance paradigm as just another commodity. But if we examine other types of blockchain technology (Ethereum for example), that are providing a tangible value through smart contract infrastructure, it’s hard to ignore the ways that Web3 could play a vital role in the future of a more globalized, democratized economy. </p><p>What I’m interested in exploring in this moment is — do the potential benefits outweigh the risks? Main criticisms or ethical considerations of digital currency include: participating in unregulated currency exchange that has been found to fund illicit activity, currency not backed or insured (if it gets hacked, it’s gone), and the amount of natural resources needed to mine Bitcoin and support other Web3 technologies. But dark and illicit activity already takes place within the fiat system, all investments include a certain amount of risk, and AI has a similar water + energy predicament that needs to be addressed. These issues aren’t exclusive to Web3 or digital currency. They are issues that need to be solved for at a broader human level. </p><p>See where I’m going here? With greater freedom comes greater responsibility on behalf of all people. If you get nothing else out of this episode, I hope you get this: you have a choice of where you invest your time, money, and energy. If we hope to improve the quality of life for more people across the globe, including ourselves, we will need decentralized infrastructure to support that goal. As for digital currencies, I think it’s smart not to bet anything you aren’t comfortable losing (because in many ways it resembles gambling at the moment), but instead play around with an amount you feel ok sending on a roller coaster as a way to understand how they work. </p><p>I have a feeling we will be experiencing a lot of change around the ways we exchange value in the near future. My strategy is to diversify my investments and to invest in things that provide real value (not inflated hype). I am trying to be invested in a little bit of everything if possible (index funds, cash, gold, digital currency and products, physical products, real estate, etc), while growing skills that contribute value to collective wellbeing (the greatest investment of all), and generally learning how to leverage that wealth in a way that creates a more circular economy. </p><p>If this sounds interesting to you, I’d love to share notes or be in conversation — reach out at [email protected]</p><p></p> <br/><br/>Get full access to Relationship Health Club ✵ Regenerative Relationships at <a href="https://melissabelongea.substack.com/subscribe?utm_medium=podcast&#38;utm_campaign=CTA_4">melissabelongea.substack.com/subscribe</a>