International Digital Currencies Are in Our Future 44 Video of the Week

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International Digital Currencies Are in Our Future

Financial institutions are able to transact directly with one another using a central bank's digital currency.

In recent years, international financial authorities have developed prototype platforms for digital currencies backed by central banks that may be incorporated into the worldwide monetary system, raising hopes for the possibility of digital dollars. It was announced that the Bank for International Settlements (BIS) has developed two preliminary platforms for facilitating international settlements using digital currencies issued by multiple central banks.

In addition to the US Federal Reserve, a collection of central banks own the BIS, referred to as a bank for central banks. Australia, Singapore, Malaysia, and South Africa collaborated on its innovation in digital dollar settlements.

Using central bank digital currencies on a shared platform, "Project Dunbar" has shown that financial institutions can transact directly with one another. By eliminating intermediaries, crossborder transactions would be less expensive and faster.

In a statement, Andrew McCormack, the head of the BIS innovation hub in Singapore, said, "Project Dunbar demonstrated the value of governance mechanisms enforced

by robust technology, laying the foundation for developing future global and regional platforms."

In the fast-growing digital asset space, decentralized and volatile crypto assets like Bitcoin and Ether have received much attention, but central banks are catching up. Several financial authorities, including those in the U.S. and the U.K., are exploring the possibility of digitizing their national currencies.

President Joe Biden recently discussed the rapid growth of cryptocurrencies and detailed a national policy for handling digital assets. The White House has called for exploring a US digital dollar with "urgency on research and development." What I am saying here is that the groundwork is being done. Platforms are being tested. No one knows when, but digital currencies managed by central banking and the nation-states that control them are only a matter of time. 

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NFT

They're BUYING!! Institutions BULLISH on Crypto!! Pump Next!?

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Influencers and Founders of NFTs and the Metaverse, Who are Women

Women comprise less than 5% of crypto entrepreneurs, but a few female founders and influencers break down the gender bias in NFTs and the Metaverse.

According to data collected from multiple studies, there is a stark gender-funding gap within the Web3 sector. Founder teams that included at least one woman only received 9% of all funds deployed to technology startups. Moreover, startups with a sole female founder, or those comprised of an all-female team, raised just 2% of all venture capital dollars.

According to a study by PitchBook, startups founded by women outperform those founded by men. According to the 2019 study, hiring female decision-makers at the investment level is associated with superior fund performance.

Women-led Crypto initiatives are rare in a sector dominated by men and are less likely to receive funding from venture capitalists. According to a separate study by the Boston Consulting Group (BCG), companies founded by women generate higher revenues. According to the survey, female-led startups deliver nearly 10% more returns on investment over five years than those led by men.

As crypto becomes more mainstream, we need to consider diverse perspectives when building and running systems. In the crypto world, the gender split is similar to what we see in the tech and finance sectors; there are women, but they are heavily outnumbered. Ten top women in the world of NFTs and the Metaverse are pushing against the odds.

Allyson Downey

Meta Angels is an NFT community that "harnesses Metaverse relationships to unlock real-life opportunities," which Allyson Downey co-founded. When asked whether it is still possible to lay the groundwork for gender equality in Web3's foundation, “The sector is in its infancy, so women with experience in building and growing businesses could do well in Web3," she said. "It's economic shrewd to create an ecosystem that encourages the growth of women-led businesses."

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Downey predicts that online and offline life will be more intertwined ten years from now. Thanks to the improved user experience, users will be able to use Web3 just as easily as a credit card or contactless payment today.

Ariana The Techie, aka Ariana Waller

Ariana Waller has been working in the blockchain space since 2017 and is a fullstack software engineer. Her company, Mueshi, is an online marketplace where fine art NFTs can be bought, sold, and fractionally purchased. Arianna Waller is passionate about encouraging more women to consider careers in the web industry.

As a US-based startup founder, she is passionate about encouraging more women to consider careers in Web3. "We need you in this space," she says. "You may be the only woman in Web3 today, but you will soon be joined by many others building, investing, and creating in this space. Someone needs to hear your specific story, your specific voice, so they can be inspired to be in Web3."

“A pioneer is a woman who builds in the Web3 space in 2022.

It's okay if you're the first or only woman in the room. We're making history. Walk your talk, other women worldwide need to hear your story, so they can have the confidence to walk through the same doors you did." Waller believes Web3 developments will "decentralize traditional institutions and enable communities worldwide to work together in new ways" and believes Web3 will "positively impact international governments, voting systems, the arts, education and more."

Emily Yang,

The artist and people pleaser, Emily Yang, specializes in Web3, NFTs, crypto, and DAOs. Emily Yang is one of the world's most renowned NFT artists and a member of PleasrDAO, a collective of early NFT collectors and digital artists. Yang considers herself a "multidisciplinary artist with a focus on Web3, NFTs, cryptography, and DAOs".

Her work inspired the formation of the pioneering investment group PleasrDAO and defined the aesthetic of the decentralized finance movement. With Steve Aoki and Sotheby's, she launched a fund to support upcoming female artists, earning a cover for Fortune Magazine's Crypto vs. Wall Street issue. She has recently founded Shibuya, a decentralized video platform that helps fund independent creative projects. It is rare to see a woman in a leadership or supervisory role during her earlier career in visual effects and animation. As a result, she felt discouraged, and her confidence in her career progression was hampered without any examples or role models to follow.

Yet, she said, "As Web3 is a brand new canvas, I think it's important to change that to give females a voice and an equal platform."

Despite being male-dominated, she described the Web3 community as "extremely inclusive, perhaps more than any other industry I have interacted with."

She advises female creators looking to succeed in the space not to be afraid to

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network and "take that leap of faith to realize everyone in Web3 cares about your ideas, not what you look like or your background.”

Iris ten Teije

Koia's co-founder and CEO is Iris ten Teije. According to her, Web3 will create a trillion dollars of value within the next decade. A fraction of iconic assets can be purchased, traded, and collected using this platform.

Koia fractionalizes NFTs by linking them to real-world assets. She said, “It’s a big opportunity and where the true value of NFTs and tokenization comes into play. There is a significant gender pay and wealth gap, and we're going to create trillions of dollars in value in Web3 over the next decade. To achieve true gender equality, I want women to benefit from that just as much as men."

It is advised that women interested in the Web3 sector join as many relevant communities as possible and participate in at least one NFT project that interests them. She is excited about democratizing access to capital with Syndicate's tools.

Jaime Schmidt

Jaime Schmidt founded BFF, a decentralized organization that ensures that women and nonbinary people have access to knowledge, opportunities, and financial rewards in Web3. She believes that greater diversity is essential for Web3, as it is "critical for innovation, mass adoption, and social good." With the advent of blockchain technology, women have more opportunities in creator economies and online communities. Jaime Schmidt suggests in her book, Supermaker: Crafting Business on Your Own Terms, that women who are interested in the Web3 field look for ways to make it resonate with their circumstances, interests, and potential for growth.

Kadine James

Kadine James is a creative technologist at Yahoo Creative Studios, specializing in 3D virtual production, motion capture, mixed reality broadcasting, volumetric capture, and photogrammetry. Among the initiatives Kadine James cites are Rise Women, Boss Beauties, the All-Stars Women NFT Club, and DAO as essential to bringing about positive change. In addition, she is the founder of Immersive Kind Collective, a crypto fashion and digital art collective, and an advisor to AllStarsWomen NFT Club and DAO.

It is evident that the crypto industry is heavily male-dominated right now and that "the funding and investment gap must be bridged." In addition to projects like Rise Women, Boss Beauties, and All-Stars Women NFT Club, James points to the DAO as an essential driver of change.

Web3 will be where "the Metaverse becomes tangible, where our digital selves are compatible across all platforms. Our virtual identities become central to who we are in the 'real' world, whether playing video games or participating in video conferences."

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Krista Kim

Contemporary artist Krista Kim founded the Techism movement. Her work explores the concept of digital consciousness. Her work explores digital consciousness, for example. Her aim is to uplift humanity with Metaverse realms that create meaningful and authentic communities for us all to move forward.

Kim hopes to see more female leaders in the evolution of Web3 because "if more women take leadership roles in Web3, the more evolved and peaceful the world will be since women will contribute to world culture, co-creation, collaboration, and decentralization." To succeed in Web3, she suggests, "Let your passions and talents inspire others. Our consciousness will be magnified in the Metaverse, so make sure you nourish yourself with positive inspiration."

In Kim's view, the Metaverse will create a new environment characterized by a "transcendent culture that transcends all divisions of politics, religion, race, gender, and geography in the real world." Individuals will be sovereign and have more significant opportunities to participate economically and own digital assets through DAOs and NFTs. The Metaverse will be a beautiful and inspiring place.

Laura Shin

Web3 is supposed to democratize access to financial services and governance, so a world in which wealth and power go primarily to men would be antithetical to these ideals. A world where men mainly possess wealth and power would contradict Web3's standards regarding democratizing access to financial services and democratizing governance. She is the author of The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze and a cryptojournalist.

“As long as you pursue your own joy in the crypto space, you'll succeed." She believes Web3 will become "more ubiquitous, easier to use, more tangible, and less abstract."

Martyna Borys-Liszka

Martyna Borys-Liszka has been leading the charge to ensure that crypto breaks into the mainstream for all the right reasons. Martyna Borys-Liszka is the account director and chair of YAP Global's Financial Services and Fintech Group. She works with clients and media to ensure that the best projects with the best teams receive the attention they deserve and reach the right audiences.

Borys-Liszka has been instrumental in ensuring crypto enters the mainstream correctly. “According to studies, women and men bring different skills and personalities to the table. When you're in a maledominated field, you tend to start mirroring certain behaviors or emulating 'male' characteristics," she explained.

“You might not feel that way, but if that's you, then go for it; if not, don't. Bring your whole female self to work, use your instincts, speak up, and take up space." She wishes that in ten years, "the terms 'Web3' or 'crypto' won't be ominous to people outside of this industry." She added, “My friends who aren't professionally involved in this space remind me that I envision a future where everyone has access to information and resources.

Stefania Barbaglio

Founder and director of Cassiopeia Services, a boutique investor and public relations agency based in London, Stefania Barbaglio. Her communication skills enable her to maximize the visibility of Web3 creators to media, investors, and communities. She is one of the top digital PR experts in Britain. “Female leaders have more opportunities in the Web3 sector,” according to Barbaglio.

In her view, there are more opportunities for female leaders in the Web3 sector than in traditional industries. "Web3 and crypto create a decentralized, permissionless, and inclusive system where creators are empowered and can directly manage, protect, and monetize their assets, thanks to the invention of NFTs." She advises women wishing to succeed in the sector to "follow your passion, be ambitious, stay focused, surround yourself with inspiring people and make challenges your opportunities."

Web3 will lead to more "decentralized governance and community empowerment," according to Barbaglio. She predicts that "data will be the most valuable asset, experiences will be the most desired product, and privacy and anonymity will be like gold. People will not need to be techsavvy to use Web3; a click will be all they need. Metaverses will all be interoperable, and we will be able to move between the past, present, and future." 