DiarioBitcoin spoke to Eloísa Cadenas, the renowned Mexican expert on fintech, crypto and blockchain, to learn more about their arrival in the ecosystem, their opinions on the current crisis and other issues.
At 34, the Mexican engineer Eloísa Cadenas was recognized as one of the leading experts in this field Fintech, Crypto and Blockchain from Latin America. Cryptocurrency enthusiast, but also academics, writers, teachers; She loves math, philosophy, cinema and heavy metal.
Cadenas is currently completing a PhD in financial engineering at the National Autonomous University of Mexico (UNAM) and is director of CryptoFintech, a consulting firm, the crypto company and Fintech. She is also director of the Cryptocurrency Committee of the Mexican Academy of Computer Law (AMDI). She is a member of the Fintech Commission of the College of Public Accountants in Mexico and a professor on the Mexican stock exchange, where she teaches courses Fintech y Blockchain.
In 2018 Eloísa Cadenas also worked with Frank Lütticke as co-author of the book “Crypto economy”, Currently a bestseller in Amazon.
In this new edition of Women Blockchain, DailyBitcoin spoke to Eloisa Cadenas, who spoke about her vision of Bitcoin and arrival in the ecosystem. The enthusiast also shared her views on the outlook for crises from the COVID-19 coronavirus pandemic; and highlighted some of the main issues related to gender differences across the industry.
Eloísa Cadenas and her encounter with Bitcoin
During the interview, Cadenas revealed that she is a connoisseur of Bitcoin longstanding. “”I got to know crypto assets when I was invited to invest in 2013“He tells. And although he wasn’t interested in the idea at the time, he said that the crypto problem”make noiseWithout break. Unsuspecting, this first encounter with the cryptocurrency would change his academic, professional, and personal direction; and it would inspire them to do a PhD in finance at UNAM.
Bitcoin was the reason for my doctorate and later for my way of life[…] I decided to be the first person in Mexico to do research on this topic at the best university in the country at doctoral level.
For the expert Bitcoin it also represents the “failed state”; not only at the political level, but as a phenomenon that has changed the different social areas; from the legal framework to finance and technology. “”Bitcoin is the rebellion, the death that triggers the transition“Says Cadenas. During the interview, the engineer also spoke a little bit about the mysterious origin of this technology, which in her opinion “is the synthesis of decades of studies on data protection in the financial sector“”
I get a little “paranoid” and ask myself: How can I not reject the hypothesis that its creation came from the government of a leading country? It really seems very naive to imagine a Satoshi Nakamoto behind an IBM desktop that integrates technologies like a reusable proof of work (RPoW).
According to the enthusiast, cryptocurrencies are the first compelling and effective solution to a real revolution in the financial system. On a personal level, there is no doubt that this meeting was a great discovery and its own transformation as a professional.
Regardless of who created it, Bitcoin is the reason that lives in me 24 hours a day. and what has led me to everything I have achieved so far.
The Corona Virus Crisis: Scenario for Latin America
The expert analyzed the current crisis scenario resulting from the coronavirus pandemic The future is for Mexico and the rest of the Latin American countries “Extremely complex”. Economic growth in Mexico has been declining since last year. Investments were cut by fear of new guidelines and the cancellation of ambitious projects. like the airport.
For oil-producing countries in the region, such as Mexico and Venezuela, the fall in the price of a barrel leads to chaos in the local economy. The scenario is similar in other countries in the region. Chile, for example, one of the most stable economies in the region, has the worst copper price in 8 years. In addition, in almost all cases we are faced with countries in which economic problems have previously occurred due to complex political scenarios.
We have countries with a significant economic delay and now, with this pandemic, the scenario is unlikely to improve. The economy will reactivate in the short term, and while we are not sure how long COVID-19 will last, a large part of the strategy is to speed up production and use, for example, commodities or currencies.
Bitcoin as an alternative to the crisis
Without a doubt, crypto-assets are alternatives to crises for a reason: they allow you to sell many financial products, such as B. Investments to be more flexible..
According to the expert, digital assets are like Bitcoin Given the global economic crisis and financial recession scenarios, they could be investment alternatives. To explain it, Cadenas used a concept in which – as he comments – he has been working for some time: Crypto securitization. In a traditional system, participating in a regulated stock market involves a number of impressive procedures. In addition to the capital required to complete the entire process.
However, he is committed to the “tokenized securities“Present a more flexible and simple investment alternative for users who are not familiar with the structure of stocks, futures, derivatives, etc. Not to mention that they are more accessible and do not require large amounts of capital.
Bitcoin: investment vehicle or payment mechanism?
In this regard, the engineer has not failed to emphasize that there are at least two possible alternatives in which the use of Bitcoin in a crisis context, it is provisionally positive. On the one hand, cryptocurrency is used as an investment instrument and / or value store; A use that he considered positive based on the various studies. However, his opinion was not too optimistic about a significant appreciation of the currency in the near future:
The prices in the past few weeks, when the COVID 19 crisis has increased, have been contradictory, and this is due to the lack of general market dynamics due to the slowdown we are experiencing. The only option that initially maintains a light trail is halving. However, my vision is that there won’t be a big upswing (I hope I’m wrong). Indeed, hedging with bitcoin derivatives as an underlying, ie bitcoin futures, can be more useful.
With this in mind, Cadenas considered a second option for using Bitcoin It would be like a currency that could be more beneficial. “”I believe that it has great value within the payment system as it enables commercial dynamism to be maintained in a secure digital environment.“” In addition, the enthusiast supported her opinion in the comments of various institutions that recognized the contagion risks associated with the use of cash in connection with the pandemic.
Companies in the industry must “Doubling efforts“”
For her part, the engineer pointed out that companies living in the ecosystem will have two alternatives in the crisis scenario: “to be swept away or renewed by the conditions of the pandemic“” According to Cadenas, the challenge is for Startups young venues for the crypto industry and Blockchain In a crisis context, it could be bigger.
With large companies and solutions that are already consolidated in the industry,Development companies must redouble their efforts to propose new proposals or solutions that add value to survive“” The key will be to diversify, he adds.
Eloísa Cadenas: female participation in the blockchain industry
During the interview DailyBitcoin He also took the opportunity to learn about the expert’s vision of gender differences in the industry. Blockchain. In this context, Eloísa Cadenas believed that the low participation of women at local level in ecosystem projects does not respond to an inclusion problem but to a cultural problem. The tools exist, he clarifies; But there is a lack of interest, which has its roots in a generation delay and in the education of the home.
How much has women been interested in technological or financial issues since childhood? That is the big first task that we need to focus on, especially those of us who have already crossed that barrier..
This discussion was also fertile ground to criticize the stance of some crypto projects and events that Cadenas said uses the word Blockchain to advertise “or appear in the photo“”
This latter criticism also extended to the area of struggle for gender equality within the industry. In this sense, the enthusiast shared the impression that some companies use the image of the struggle and / or that of women as a market strategy.
Sometimes I get the impression that companies use this as a market strategy and to be in the game rather than as a real interest. I see nowhere social programs that serve girls, that are in vulnerable sectors or that are least available […] My perspective for the future is that if we do not deal with this problem from scratch, we will have “fictitious” justice..
Current and future projects
In an admirable effort to practice What he preaches was taken over by Cadenas from the consultation. the policy of prioritizing working women. “”Especially if they are single mothers“She comments and emphasizes the additional difficulties women with children often encounter.
4 full-time women who are mothers are currently working with me. Even though they had no knowledge of crypto, constant training has given me enough time to give them the security they need so that they are not afraid of the subject. As we say in my country: “To grab the bull by the horns ..
During the interview, the engineer also encouraged other projects to promote talent among women of all ages. Noting that “It’s not just about holding women’s forums“But from a real inclusion that promotes gender dialogue. He also stressed that the issue of justice is not in the inclusion of women through a topic of his”Status“But for the value that diversity adds to a project.
I don’t really see the crypto industry as a fad. I have a big dream: to create a crypto bank run by women.
Is currently the advisor CryptoFintech is dedicated to advising on a variety of projects. From crypto exchangeeven initiatives that want to develop Security token y Utility token. They also provide tax and legal advice to those who want to invest in digital assets and do not have the tools or knowledge.
Article by Hannah Estefanía Pérez / DailyBitcoin
Images: Courtesy of Cadenas