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00:00You know I do think there is this impression of crypto or like what a crypto bro is like. Or maybe people have something on their mind. But I'm curious from your perspective having worked in this space what is it actually as opposed to perhaps the outside stereotypes. It's a great question because there's not a lot of visibility for those who are actually in this space. But what I'm really excited about is how many people particularly in black and brown communities have been reaching out for education. It may not mean that every person is virtuous but they're asking the right questions. And so I'm really heartened to see so many people in the black community in general black women in particular. In the space they may have some exposure to various more traditional investments. I think it's the black community has traditionally been focused on education as the way out of circumstances or real estate or insurance something that's more to say that less so on the side of appreciating the potential for appreciating assets and certainly capital assets in the way that virtual currencies affects. Tony talk to us about your journey of gathering information and getting into. Well the world of IP when it relates to block chain and cryptocurrency because you are obviously really focused on intellectual property on entertainment law. How did you really discover this whole new world that needs your expertise. Twenty seventeen. There was a lot of conversation around Bitcoin to be sure I feel like it was around that time that Bitcoin was first starting to make the type of moves that get people's attention outside of the crypto space. And there was a conversation going on at the time about Bitcoin versus fluctuate. And some people said particularly in academic environments and where traditional environments I don't know about Bitcoin but flat chain is a distributed ledger technology really to focus on that. I wasn't completely sold on the idea of crypto at the time. I hadn't yet taken my for complete deep dive down the rabbit hole but I knew that I had to educate the next wave of lawyers to be ready to represent those who were building in a web 3.0 environment. And I quickly became aware that this type of technology at least had the potential to disrupt across various sectors and industries. And it was really really important for the next wave of lawyers to be prepared for technologies business people those who were building on top of the infrastructure so that the entire industry as a whole the ecosystem I should say could move forward. Well then speaking of the legal issues here and more importantly here how do you sort of spin this out from just being an investment meaning folks either speculating on the price of it or using it as a store of value. Do you get to something that's tangible where the people that you say should be involved in this that they can actually find some other way to bridge this to whatever else they're doing. Focus on the idea of generational wealth so often when you have speculators or investors that are in something for a short term experience it tends to be focused on that particular person maybe their family but not as a matter of generational wealth. When I'm educating people about the space I really do talk about the long term opportunities in this space because we've only just begun to see the true power and potential of crypto currencies across the board in some of the more notable currencies. Obviously Bitcoin is being I call it the O.G. in the space even though technically speaking there were digital assets that pre-date Bitcoin. It was really the game changer because of the unique combination of peer to peer technology certainly the Internet and cryptographic protocols that could encrypt information and then finally focus on the idea of not getting left behind with a Web 3.0 push in the same way that many in black and brown communities were left behind in the dot com boom and bust and restructuring. This is a really unique opportunity with this next iteration of the Internet. Talk to us about Maker. Sure you're the chairman of the foundation behind maker Dow. It's very interesting. It's probably hard for people to grasp wrap their heads around what specifically you're working on what Dow Decentralized Autonomous Organization is. Talk to us about that work and what you're excited about doing with this endeavor. The real excitement about the Maker Foundation which is part of the maker community with the maker Dallas is self-sufficient run by governance token holders in K are tokens who really decide in the future and the direction of the central. This particular decentralized autonomous organization and you can have many different types of vows maker down if it facilitates a number of different things. But most importantly the stable coin die which is empowering people to do a range of things in the decentralized finance area where you can. What we say dis intermediate or really remove the traditional intermediaries the standards gatekeepers for those who should participate but have traditionally been locked out. So from a black and brown community point of view when I think of some of the systemic issues and gatekeepers that have traditionally kept people off the sidelines or on the sidelines about decentralized autonomous organizations and certain within the maker down of being something that is agnostic about participation there's no gatekeeper standing between you and holding a data point like that or holding an indicator. And that's really the game changer when you think about protocols like NIKKEI def.

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Don't Want to Leave Behind Minorities in Web 3.0: Tonya Evans

Tonya Evans, professor at Penn State Dickinson Law and chair of the Maker DAO’s Maker Ecosystem Growth Foundation, talks with Bloomberg's Caroline Hyde, Romaine Bostick and Joe Weisenthal on "What'd You Miss?" about diversity and education in the cryptocurrency industry, and the legal challenges for digital assets. (Source: Bloomberg)

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