Episode 11: Bad Ripple? And Crypto For Women And Humanity!
By Ahmed Al-Balaghi — Member of FinTech Connector / Dubai
ABOUT THIS EPISODE
Ahmed and Faisal sit down with Irina Heaver, a technology lawyer based in Dubai.
First up they discuss XRP, a cryptocurrency created by Ripple, and its short ascension to number 2 in coinmarket cap and the conversation quickly goes into the concept of decentralisation as big question marks hang over Ripple’s centralised approach. The three go down the rabbit hole of historical references citing how there had to be incremental steps before real disruption took place.
They also touch on whether the pump in the price of XRP was down to speculators increasing the price.
Next, Ahmed delves into the blockchain uses cases that help to serve humanity! He talks about how Palestinians are using bitcoin to facilitate transactions cross border and how this serves as a pretty common use case for countries that do not have the required financial infrastructure that developed economies typically enjoy. Irina, very passionate about this subject, talks about how lucky they are of being able to participate in the international economy. The three then discuss the differences of bitcoin use cases between countries like Palestine and Venezuela. The challenges of using cryptocurrencies in these developing economies are also talked about as on ramp and off ramp are still huge issues faced by the local people.
Irina also touches on a project called AIAR which uses both AI and blockchain to actually help the lives of refugees globally.
Ahmed then starts a topic on women in blockchain as Irina is a huge advocate for women in tech. Reasons as to why there is underrepresentation in tech and blockchain more specifically is discussed. Irina talks about her initiatives of bringing more women into this space! Bro culture is also explored during this discussion and ways of combatting it is also laid out!
Lastly, we touch on the new and exciting news that Dubai Pay has been launched which is using blockchain technology. The reconciliation of transactions which typically takes 45 days to settle, now takes only a couple of seconds! FYI, this is one of the first Dubai Governmental projects that is now in live in production after months of testing and a year since its concept design.
All of the above and more will be on this week’s episode of Encrypted!
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