MoneyNeverSleeps Pete Townsend

Pranav Kanade, Portfolio Manager of VanEck's Digital Assets Alpha Strategy joins the show this week. VanEck is an American investment management firm headquartered in New York City with over $100bn in assets under management. Although they’re well known for their passive exchange-traded funds or ETFs, they also manage active portfolios such as Pranav’s Digital Assets Alpha Strategy.  

Pranav Kanade joined VanEck in 2022 from Millennium Management where he was a Credit Portfolio Manager working closely with a team of six investment professionals. Prior to Millennium, he was the founding member of the Head of Research for the Liquid Credit investing business at Angelo, Gordon & Co. and also spent time with Hutchin Hill Capital focused on technology and energy.

In this episode, Pranav and I dig into his transition from traditional finance (TradFi) to the crypto world, his investment philosophy, and the catalysts for growth in digital assets. Pranav details his journey, the differences between traditional and liquid token investments, and how stablecoins, decentralized physical infrastructure, gaming, and social finance can drive mass adoption. We also delve into regulatory landscapes, tokenomics, and the challenges and opportunities in token project investments.

TIMESTAMPS: 

00:18 Meet Pranav Kanade: From TradFi to Crypto

01:55 The Evolution of Digital Assets

04:10 Understanding Tokenomics and Market Dynamics

16:20 The Future of Stablecoins and Tokenized Securities

21:13 Managing a Liquid Venture Portfolio

26:03 The Role of Regulation in Crypto Adoption

38:05 Closing Thoughts and Personal Insights

LINKS:

Follow Pranav Kanade on socials:

-Linkedin: https://www.linkedin.com/in/pkanade1/

-Twitter/X: https://twitter.com/vaneckpk

-Substack: https://killerapps.substack.com/

Learn more about and follow VanEck:

-X-Twitter: @vaneck_us  |  https://twitter.com/vaneck_us

-LinkedIn:  https://www.linkedin.com/company/vaneck/

Leave a review and subscribe on 

-Apple Podcasts:  https://podcasts.apple.com/us/podcast/id1455819294

-Spotify: https://open.spotify.com/show/4F8uOLxiscYVWVGEfNxTnd

-Youtube:  https://www.youtube.com/channel/UCvaaHrJjizUEd0-93mjCKsQ

MoneyNeverSleeps newsletter on Substack: https://moneyneversleeps.substack.com/

MoneyNeverSleeps website:  https://www.moneyneversleeps.ie/

Email us at info@norioventures.com

Follow on X(Twitter): 

-Pete Townsend: https://twitter.com/petetownsendnv

-MoneyNeverSleeps: https://twitter.com/MNSshow  

Follow on LinkedIn:

-Pete Townsend: https://www.linkedin.com/in/pete-townsend-1b18301a/-MoneyNeverSleeps: https://www.linkedin.com/company/28661903/admin/feed/posts/

Rita Martins joins the show to discuss her new book, Web3 in Financial Services, which explores how blockchain, digital assets, and cryptocurrency are disrupting traditional financial services. 

In this episode, Rita and I riff on her inspiration for writing Web3 in Financial Services and how she tackled the process of writing a book for the first time.  We also talk about the present and the future of Web3 technologies in finance, the book’s key messages, and how Rita aimed to make the content evergreen with the fast pace of change in web3. Rita was kind enough to feature a conversation with me in the book, so thank you Rita for including my thoughts. 

Rita Martins is a strategic senior leader with a distinguished track record in financial services, fintech and Web3. She serves on the advisory boards of a range of startups at the intersection of finance and DeFi, blockchain, digital assets and crypto, and is a mentor for the Techstars Web3 accelerator.

Previously, Rita was the Global Head of Fintech Partnerships at HSBC, where she played a key role in incubating and accelerating disruptive technologies, creating significant advancements in the fintech landscape. Her extensive background also includes strategy and digital transformation roles at Accenture and Ernst & Young, where she led large-scale digital transformation projects, helping clients achieve strategic milestones.

TIMESTAMPS:  

00:43 Meet Rita Martins: Author, Financial Services Executive and Board Member

01:20 Diving into Web3 and Financial Services

02:43 Rita's Journey in Financial Services

05:23 The Inspiration Behind the Book

06:52 Understanding Blockchain and Its Impact

10:58 Writing the Book: Challenges and Insights

15:07 The Future of Web3 in Finance

26:16 Evolving Ecosystem and Challenges

28:10 Dynamic Nature of Writing in Crypto

29:05 Podcasting vs. Publishing

30:31 Killer Apps in Crypto

31:18 Political Influence on Crypto

34:07 Global Impact and Future Predictions

38:09 Reactions and Feedback

41:22 Marketing and Promotion Efforts

44:34 Personal Insights and Experiences

LINKS:

Connect with Rita Martins on LinkedIn: https://www.linkedin.com/in/ritamartins2/

Follow Rita Martins on X: https://x.com/RitaMartinsUK

Buy/download Rita Martin’s book Web3 in Financial Services: 

Amazon: https://www.amazon.co.uk/Web3-Financial-Services-Blockchain-Traditional/dp/1398615714

KoganPage

https://www.koganpage.com/accounting-finance-banking/web3-in-financial-services-9781398615717

Leave a review and subscribe on 

-Apple Podcasts:  https://podcasts.apple.com/us/podcast/id1455819294

-Spotify: https://open.spotify.com/show/4F8uOLxiscYVWVGEfNxTnd

-Youtube:  https://www.youtube.com/channel/UCvaaHrJjizUEd0-93mjCKsQ

MoneyNeverSleeps newsletter on Substack: https://moneyneversleeps.substack.com/

MoneyNeverSleeps website:  https://www.moneyneversleeps.ie/

Email us at info@norioventures.com

Follow on X(Twitter): 

-Pete Townsend: https://twitter.com/petetownsendnv

-MoneyNeverSleeps: https://twitter.com/MNSshow  

Follow on LinkedIn:

-Pete Townsend: https://www.linkedin.com/in/pete-townsend-1b18301a/

-MoneyNeverSleeps: https://www.linkedin.com/company/28661903/admin/feed/posts/

This week, we dive into decentralization with Kenny Ezeji-Okoye and Stella Dyer from Millicent, Ilya Orlov from FileMarket, alongside Rita Martins, author and Techstars Web3 mentor. The discussion covers the journey from centralized to decentralized models, the impact of decentralization on users and developers, and insights into decentralization in financial services. The episode also includes a sneak peek into Rita Martins' new book, Web3 in Financial Services.

Decentralization generally refers to the transfer of control of an enterprise from a small group of stakeholders to a distributed network. At the earliest stages of a startup’s life, the co-founders usually put a plan in motion to keep the control of the business within the hands of the co-founders as a centralized business. 

With many web3 projects, however, the project leads or co-founders decide to create a distributed network, where the enterprise value accrues to a token rather than to the equity of a centralized operating company.

Decentralization is not a point-in-time decision, however. For example, it took 5 years for the Maker Protocol to fully decentralize.  Most web3 projects that do become decentralized originally start as a centralized operating company and then decentralize over time, like Maker Protocol became Maker DAO.  

Does this matter to users whether or not a project is decentralized or plans to decentralize?  Do they actually care?  What about developers, i.e., those building apps/dapps on top of web3 protocols?  What’s in it for them?

Kene and Stella from Millicent, Ilya from FileMarket, and author Rita Martins tell us what they think about decentralization and when it matters and when it doesn’t.

TIMESTAMPS:

00:57 Understanding Decentralization

02:12 Perspectives from Millicent and FileMarket

03:31 In-Depth Discussion on Decentralization

10:36 User and Developer Perspectives

18:33 Advice for Web3 Founders

23:18 Rita Martins on Decentralization in Financial Services

32:35 Conclusion and Closing Remarks

LINKS:

Connect with this week’s guests on LinkedIn:

-Kene Ezeji-Okoye: https://www.linkedin.com/in/pronouncedkenny/

-Stella Dyer: https://www.linkedin.com/in/stelladyer/

-Ilya Orlov: https://www.linkedin.com/in/orlov-ilya/

-Rita Martins: https://www.linkedin.com/in/ritamartins2/

Follow this week’s guests on X/Twitter:

-Kene Ezeji-Okoye: https://www.linkedin.com/in/pronouncedkenny/

-Stella Dyer: https://x.com/MillicentLabs/

-Ilya Orlov: https://x.com/UnderKong

-Rita Martins: https://x.com/RitaMartinsUK

Learn more about each founder’s business:

-Millicent Labs: https://www.millicent.io/  |  https://x.com/MillicentLabs

-FileMarket: https://filemarket.xyz/  |  https://x.com/FileMarket_xyz

-Rita Martins’ book: Web3 in Financial Services https://www.amazon.co.uk/Web3-Financial-Services-Blockchain-Traditional/dp/1398615714

Leave a review and subscribe on 

-Apple Podcasts:  https://podcasts.apple.com/us/podcast/id1455819294

-Spotify: https://open.spotify.com/show/4F8uOLxiscYVWVGEfNxTnd

-Youtube:  https://www.youtube.com/channel/UCvaaHrJjizUEd0-93mjCKsQ

MoneyNeverSleeps newsletter on Substack: https://moneyneversleeps.substack.com/

MoneyNeverSleeps website:  https://www.moneyneversleeps.ie/

Email us at info@norioventures.com

Follow on X(Twitter): 

-Pete Townsend: https://twitter.com/petetownsendnv

-MoneyNeverSleeps: https://twitter.com/MNSshow  

Follow on LinkedIn:

-Pete Townsend: https://www.linkedin.com/in/pete-townsend-1b18301a/

-MoneyNeverSleeps: https://www.linkedin.com/company/28661903/admin/feed/posts/

Alejandro Gutierrez, CEO of npayme Labs and co-founder of ETH Dublin joins me again as guest co-host this week. We start with Alejandro's Token2049 Dubai ‘tsunami-in-a-yacht’ story, the upcoming ETH Dublin 2024, and the Techstars Web3 demo day on June 6th in NYC. We then cover the challenging venture capital funding market for Web3 projects, political and regulatory developments in the U.S. concerning crypto, and the in-flight approval of Ethereum ETFs.

As we recorded this episode a few hours before the SEC took the first step in authorizing Ethereum ETFs, we unpacked the political and legislative climate towards crypto in the U.S., and how things like SAB121 and the FIT21 Act are driving real change.  We also touch on the broader impact of blockchain technology on financial markets and the context of tokenization, consumerization, and infrastructure improvements in the crypto space.

TIMESTAMPS:

01:53 Alejandro's Dubai Adventure at Token 2049

04:40 ETH Dublin 2024 Preview and Techstars Web3 Demo Day

07:16 npayme Labs and the Future of Web3

12:14 The State of Venture Capital in Crypto

23:00 The Impact of Political Climate on Crypto

25:04 Trump's Crypto Strategy

26:18 Crypto Donations and Political Influence

28:43 Ethereum ETFs and Regulatory Challenges

32:25 Political Shifts and Crypto Regulation

37:19 The Future of Crypto Legislation

45:09 Pizza Day and Bitcoin's History

STORIES WE COVERED:

VC Funding in Crypto

Galaxy Ventures bemoans ‘challenging’ market as crypto VC funding set for measly 27% gain (DL News, 20-May-24)

CryptoRank:  Recent Crypto Investments and Fundraising Rounds (early stage only)

ETH ETF Approval Expectations

Ether jumps 20% on renewed optimism for an ETF, bitcoin also rallies (CNBC, 20-May-24)

Ether ETFs Filing Process Sees Abrupt Progress, Though Approval Not Guaranteed: Sources (CoinDesk, 20-May-24)

Fidelity Drops Staking Plans in Updated Ether ETF Filing (CoinDesk, 21-May-24

Blockworks’ BTC ETF Tracker

US Crypto Regulatory Ups and Downs

House To Vote On Who Will Regulate Crypto (21-May-24)

Proposed DeFi Carve-out from Securities Exchange Act of 1934 (Hayden Adams on X/Twitter, 20-May-24)

Uniswap Labs Urges SEC to Drop Pending Enforcement Action in Wells Response (CoinDesk, 21-May-

LINKS:

Follow our guest co-host Alejandro Gutierrez:

-X(Twitter):  https://twitter.com/A_gutierro

-LinkedIn: https://www.linkedin.com/in/alejandro-gutierrez-98979b43/

Learn more about:

-npayme Labs: https://npayme.com/

-ETH Dublin:  https://ethdublin.io/

Register for the Techstars Web3 Demo Day:  

-Livestream: https://lu.ma/usaj1l7k

-In-Person (NYC): https://lu.ma/3wlbvrih

Leave a review and subscribe on 

-Apple Podcasts:  https://podcasts.apple.com/us/podcast/id1455819294

-Spotify: https://open.spotify.com/show/4F8uOLxiscYVWVGEfNxTnd

-Youtube:  https://www.youtube.com/channel/UCvaaHrJjizUEd0-93mjCKsQ

MoneyNeverSleeps newsletter on Substack: https://moneyneversleeps.substack.com/

MoneyNeverSleeps website:  https://www.moneyneversleeps.ie/

Email us:  info@norioventures.com

Follow on X(Twitter): 

-Pete Townsend: https://twitter.com/petetownsendnv

-MoneyNeverSleeps: https://twitter.com/MNSshow  

Follow on LinkedIn:

-Pete Townsend: https://www.linkedin.com/in/pete-townsend-1b18301a/

-MoneyNeverSleeps: https://www.linkedin.com/company/28661903/admin/feed/posts/

This week, we dive into Aleph Zero, a privacy-enhancing layer one blockchain renowned for prioritizing scalability, security and speed, with co-founder Antoni Zolciak and Head of Investments Piotr Saczuk. 

Antoni discusses his transition from technology marketer to blockchain, emphasizing the humanist aspect of technology and the broad scope of blockchain's potential applications. Piotr shares his journey from TradFi to blockchain investments, highlighting the importance of values and adaptability in the fast-paced crypto industry. 

The discussion explores the challenges and strategies involved in building the Aleph Zero community, driven by transparency, support, and a user-focused approach. We also talk about the nuances of ecosystem investing, the importance of UX, and the integral role of a strong community in fostering innovation and adoption. Additionally, we look inside Aleph Zero’s relationship with the Techstars Web3 accelerator, and the related benefits to web3 founders.

00:24 Introducing Aleph Zero: A Privacy-Enhancing Blockchain

01:16 The Journey to Aleph Zero: Antoni’s and Piotr’s Stories

01:24 Building a Thriving Ecosystem and Community in Web3

05:30 The Art of Keeping Up with Blockchain's Pace

10:48 From Concept to Ecosystem: The Growth of Aleph Zero

21:27 Investing in the Future: The Ecosystem Funding Program

25:05 The Importance of UX and Security in Web3 Development

32:34 Finding the Right Founders to Build on Aleph Zero

38:33 Closing Thoughts and Personal Revelations

Antoni Zolciak is co-founder of the Aleph Zero Foundation and Cardinal Cryptography, the core developer of the Aleph Zero blockchain.  Antoni is a technology marketer with over 10 years of professional experience in public relations and content creation projects for global brands such as ING, Samsung, Sony, Olympus and Nikon.  But now, he’s here to tell the story of incredibly smart people working on decentralized innovations.

Piotr Saczuk is the Head of Investments at the Aleph Zero Foundation.  After university, Piotr had a short spell in TradFi before going down the crypto rabbit hole with Finoa, Unmind DAO, Soonami, and then finally to Cardinal Cryptography and Aleph Zero, first as ecosystem investments manager and then into his current role as Head of Investments.

LINKS:

Follow this week’s guests on X/Twitter:

-Antoni Zolciak:  https://twitter.com/antonizolciak

-Piotr Saczuk:  https://twitter.com/Piotr_Saczuk

Learn more about and follow Aleph Zero:

-X-Twitter:  @aleph__zero  |  https://x.com/aleph__zero

-Linktree:   https://linktr.ee/alephzero  

Connect with this week’s guests on LinkedIn:

-Antoni Zolciak:  https://www.linkedin.com/in/antonizolciak/

-Piotr Saczuk:  https://www.linkedin.com/in/piotr-saczuk-0347521bb/

Leave a review and subscribe on 

-Apple Podcasts:  https://podcasts.apple.com/us/podcast/id1455819294

-Spotify: https://open.spotify.com/show/4F8uOLxiscYVWVGEfNxTnd

-Youtube:  https://www.youtube.com/channel/UCvaaHrJjizUEd0-93mjCKsQ

MoneyNeverSleeps newsletter on Substack: https://moneyneversleeps.substack.com/

MoneyNeverSleeps website:  https://www.moneyneversleeps.ie/

Email us at info@norioventures.com

Follow on X(Twitter): 

-Pete Townsend: https://twitter.com/petetownsendnv

-MoneyNeverSleeps: https://twitter.com/MNSshow  

Follow on LinkedIn:

-Pete Townsend: https://www.linkedin.com/in/pete-townsend-1b18301a/

-MoneyNeverSleeps: https://www.linkedin.com/company/28661903/admin/feed/posts/

This week, I’m joined by guest co-host Mai Santamaria, the head of the financial advisory unit for the Department of Finance in Ireland. We delve into the world of digital identity, discussing the projects of World ID and TON, iris and palm scanning, and how humans are incentivized to digitalize their identity. Mai and I explore the broader implications of digital identity on economic freedoms and the geopolitical landscape that influences the sovereignty of digital infrastructure. 

Additionally, we touch upon the impact of digital identity in securing basic human rights and the potential shifts towards universal basic income facilitated by emerging technologies. The discussion also includes insights into the challenges and opportunities presented by decentralization, the significance of maintaining digital infrastructure sovereignty, and the ongoing regulatory hurdles faced by companies at the intersection of finance and technology.

TIMESTAMPS:

02:54 The Evolution and Impact of Digital Identity Technologies

03:31 World ID, TON and Digital Identity: A Closer Look

08:45 Exploring the Future of Universal Basic Income and Digital Identity

14:07 The Ethical and Practical Implications of Digital Identity Verification

15:57 Reflecting on the Broader Implications of Digital Identity and Personhood

20:34 Exploring Mobile Wallet Security and User Comfort

21:26 Revolutionizing SIM Technology with eSIMs and Wallet Integration

23:10 The Future of Identity: From Physical to Digital

24:29 Digital Infrastructure and Sovereignty: A European Perspective

30:01 Innovations in Mapping and the Importance of Open Infrastructure

35:03 Navigating Regulatory Challenges in the Crypto Space

36:58 Optimism for the Future of Digital Identity and Infrastructure

Mai originally featured on episode 5 of MoneyNeverSleeps back in 2018, she made a cameo on our 200th episode, and she’s a Techstars mentor.  Two of the episodes that I did with Mai recently, episode 241 on the crossover of blockchain and AI and episode 247 on the crossover of blockchain and digital identity, have been very popular with our most loyal listeners, so make sure you check those out.

STORIES WE COVERED:

Worldcoin tightens privacy checks, allows users to unverify World ID (9-Apr-24, Cointelegraph)

TON’s $5M incentive program aims to drive digital ID verification (Cointelegraph, 8-Apr-24)

Two new satellites join the Galileo constellation (ESA, 29-Apr-24)

SEC issues Robinhood Crypto with Wells Notice, citing alleged securities violations (The Block, 6-May-24)

LINKS:

Follow our guest co-host Mai Santamaria on LinkedIn: https://www.linkedin.com/in/mai07/

Leave a review and subscribe on 

-Apple Podcasts:  https://podcasts.apple.com/us/podcast/id1455819294

-Spotify: https://open.spotify.com/show/4F8uOLxiscYVWVGEfNxTnd

-Youtube:  https://www.youtube.com/channel/UCvaaHrJjizUEd0-93mjCKsQ

MoneyNeverSleeps newsletter on Substack: https://moneyneversleeps.substack.com/

MoneyNeverSleeps website:  https://www.moneyneversleeps.ie/

Email us at info@norioventures.com

Follow on X(Twitter): 

-Pete Townsend: https://twitter.com/petetownsendnv

-MoneyNeverSleeps: https://twitter.com/MNSshow  

Follow on LinkedIn:

-Pete Townsend: https://www.linkedin.com/in/pete-townsend-1b18301a/

-MoneyNeverSleeps: https://www.linkedin.com/company/28661903/admin/feed/posts/