YouSaid · the spoken record

Sheila Warren

lines on the record: 26
first: 2024-06-04
most recent: 2024-06-04
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“But that is really missing the core aspect of what is so powerful about this tech and where it is moving us as a society. There is always going to be a role for crypto, for blockchain technology. The more the time goes on, you'll be using blockchains every single day without realizing it. And many of you probably already are. And so I just would say it's something to take seriously and not to be afraid of, but also to be aware of because it's not just something relegated to like some randoms on the internet, you know, or sophisticated investors who are tracking the price of tokens every single day. It's more relevant to everyday people than most people understand.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Say and move, take your data, take your Twitter handle, take your whatever, and move it somewhere else. We are slowly replacing the underlying architecture. And to do that, you need essentially crypto. You need a token that is tracking the movement of a unit from place to place, a unit of authenticity from place to place to place. So I said that information, it's the same information it was when it was here and now it's here and now it's here and now it's here. Similarly, digital identities, we all know about real ID in the United States. You got to get a real ID. That's just an extra layer on something. But what we really want is a blockchain-based identity so that I can basically prove I am who I am. It's secured on a blockchain. No one can take it from me and I can demonstrate, right, that I am who I am over here. I am who over here I am over here on this website and on this website and I can prove it using an immutable record that is secured by a blockchain. It's all the number go up, number go down, blah, blah, blah. That's all, you know, fine.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Of being online. It doesn't have to be that way. There is a different way of creating a much more user-centric internet that is focused more on the individual. And for me, again, the big play is data. And we're starting to see this really emerge in the conversation more than it's been waiting for this for almost 10 years, this conversation, right? How are we storing data? How are we moving packets of information from place to place? Who gets to monetize someone else's likeness or information? The Scarlett Johansson OpenAI thing is wild. Okay. I will just box check that and assume people can Google it or know what I'm talking about. Absolutely wild. How do you create intellectual property around things like likenesses online? What is public domain and what is not? All of these questions have a predicate assumption that there is an intermediary that is navigating and creating rules of the road. That does not have to be the case. And we're moving into a world where the more frustration there is with big tech monopolies, with lack of ability to kind of take your toys as they.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“The investment side is not what I focus on. It doesn't really help that you have like a crypto ticker now and all the financial programs have like a segment on crypto. So the overemphasis on the value of the token and whatnot is I just find it very distracting. And I genuinely find the price of the asset at any given moment the least interesting thing about the technology and about crypto. Great. I know for people that are just looking to make money, that is the most important thing. I'm in this for very different reasons. And what I think is being missed is, again, we are talking about restructuring the architecture of the entire internet, right? Underlying these systems is an invisible layer right now. We're talking to each other over the internet, right? Someone has access in the line of sight to that. It is not you or me. We have ability to influence any of that. Our information goes into this void. We don't know where it goes. All those things we take for granted as being part and parcel, the cost of doing business, if you will.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“No question about it. In terms of the scams and whatnot, that's horrible, right? The same way someone will go onto Facebook and create a fake profile and catfish someone and steal their bank account information. People are doing the same thing using crypto. But the problem there isn't the form factor, I would argue. It's not that crypto makes that easier, right? It's that those are terrible people and are using a different method for doing something they've been doing for a long time. And I will also say in credit a lot of the exchanges and people in the industry who've done a lot of education about how do you fight scams? What do you do if this happens? How do you notify people? How do you prevent this from happening? If you open a wallet at any of the major exchanges, you're going to see a pretty significant work stream that's educating you about how to keep that information secure and safe.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Of cash. At the end of the day, it's really hard to trace cash. It is very easy to trace cryptocurrency on a blockchain. It is shockingly easy, in fact.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I do. I think those are real concerns. I understand them. I think I can tell you on behalf of the industry, nobody in this industry is building things so that bad actors can use them for nefarious purposes to hurt people. I mean, that is not an intention. That being said, I think what I would say to that is blockchain is one of the most technology. And so the reality is that if you're a criminal and you are using crypto, you're an idiot, okay? Because it is extremely traceable. And in fact, if you talk to people at FinCEN, at DOJ, at the FBI, they're like, yeah, like we can literally see when something moves from a wallet to another wallet, we can track the movement of the money. We know exactly where it is, where it's going. And so the reality is, yes, that you can use anything for nefarious purposes. Cash, cash remains the number one private secret way for criminals to do business is palatal.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Was General Counsel at a social enterprise called TechSoup, and I actually got into blockchain from the data side of things. We were noticing that there was just hacking attempts coming. And I had dinner with a friend of mine who said, well, you know, rather than creating this honeypot centralized database, have you thought about putting data on a blockchain? And I said, what the heck is the blockchain? So I read the Bitcoin white paper, Ethereum had launched recently, IPFS had launched recently, and I got very, very interested and compelled by the idea you could create distributed decentralized systems of data storage that would not have this sort of centralized place where a hacker could go and grab a lot of valuable data. We were doing ourselves no favors at the way that we were holding data online. The cloud was good and bad, right? Lots of cons of the cloud, right? And how could we do better with that? And that's something we're now seeing begin to emerge.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
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2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“And it's 20% across Exactly right old, young, black, white, rural, urban, like 20% across all demographics hold crypto in some to some degree. And that is, it's a wild number, one in five. One in five is pretty wild, right? So when you think about that, you're like, are you sure it's not your constituents? So it really comes down to do you want to be seen as a party that is taking a stance, a political stance on a technology, period? Or do you actually want to be a party that is attempting to comprehend and wrestle with the reality that this thing is not going away? And it actually is beneficial to people in your districts and your constituents who are engaging with it, whether you know it or not.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Justin Slaughter and I wrote about how we consider ourselves old school progressives. The new progressive movement is very different, but we're kind of like 80s and 90s progressives, if you will, right? And we actually feel that the crypto Web3 ethos is inherently very progressive. Let's try to accomplish, right? Distribution of power. We were saying, what are you doing? Like, why would you do that? The reality is that the more the Republicans become vociferously in favor of this technology, the more you look out of touch or you look like you're hostile to something that is actually like a movement that is growing and growing and growing. I mean, I should note, right, Bob, that 20% of Americans, and this is of likely voters across all demographics hold crypto. Not a lot of crypto, but a little bit of crypto.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Even though the more it becomes mainstream, the more invisible it will be, ironically, right? And I think that has been a winning argument clearly for 71 Democrats and most Republicans. So here we are.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, and I think what's interesting about that, Bob, is you know, I don't know that most people understand how the internet works, and you don't need to understand how the internet works necessarily to say, hmm, that seems like a thing I probably want to keep an eye on and have in this country. The reason I took this job in part was because I got so tired of policymakers all over the world telling me like, God, if folks come in here, I don't know what they're talking about. A lot of folks like in the Senate, it was their kids. It was a couple of their kids who were saying, hey, mom, who's a senator, this stuff is really interesting. I'm like mining Bitcoin in the basement, FYI, and they're like, what the hell, you know? And they came from that kind of personal connection because they were like, well, if my kid is doing this, I probably should pay attention to it as a parent, but also my kid is not an idiot. So there must be something there. So you have to kind of have that approach of like, what's going to make this interesting? How do you get somebody curious about it? And then why the trajectory of influence of this technology is going to be quite profound.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Technology that are problematic, fraud, whatever, let's address those, but not vilify an entire technology or industry because of certain things that we actually are tasked with addressing because that's the job of Congress, right? So I think it marks a significant shift in politics, not just in the approach to technology. But, you know, I'm an optimist. So I guess we'll see what happens when we get into election season.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“I think you just never know until you know. And the other thing happening in parallel here is the industry getting very fatigued by the Democratic Party. And in some cases, like I think Senator Warren pretty overtly starting her anti-crypto army, like we're really trying to attack this technology. There's no party platform on this. There are individual actors that have strong views. Most folks don't have any view on this technology. They don't even know what it is. They're on judiciary committee. They're worrying about getting judges nominated. They're not thinking about cryptocurrency. They don't care. So you don't know until the moment of a vote. Like, how are they going to turn out? Again, it is just a massive statement on the part of the House anyway, but on the part of both parties to say, you know, we believe that America should remain at the forefront of technological innovation, which is a stance that some folks were doubting was the case. And I do think that has a lot to do with just this kind of sense, I think, in the United States of like, what are we doing here? There are things about this.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Cannot overstate. It is massive, it is an absolutely massive accomplishment. It demonstrates tremendous progress. And as you also noted, Bob, in this Congress, doing anything in a bipartisan way is extremely unusual. So here we are.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“To the floor, even potentially when the whole FTX thing blew up, actually. So that put a big put some reins there and didn't really go forward until right now. Now, I should note also, I want to be very clear, FIT 21, as it's called, is not law. It passed the House. It now, of course, goes to the Senate. Oftentimes when you have a bill like this, the Senate will have what's called a companion bill. So in parallel, they're working on the exact same issues. They have their version of it. In parallel, usually it makes it through their committees, through the floor, and then you kind of have a negotiation between the Senate and the House. We don't have a companion bill. Okay. So what's starting now is a lot of work in the Senate side to pull together essentially a companion bill to put the Senate's position on the table on these issues. So there's a lot more to do here before this actually becomes law, but the signaling from the House that they have alignment on this in a bipartisan way.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“That's right. So this bill really tries to lay out a path forward to say not necessarily to set the question of whether any individual token is a security or commodity, but to say here are kind of the options, right? And it gives the CFTC a clear role in the regulation of digital assets, which is the generic term we use for all these assets, NFTs, you know, tokens, et cetera. I should give some context here. So the CFTC SEC, you can kind of debate, if you will, who goes where has been something that precedes crypto. But in an area as novel as digital assets, it's not entirely clear what the rules should be in terms of who goes where. So it attempts to clarify some of that. There's a lot of other stuff in there that I won't bore your listeners with, but suffice it to say it's been in the making for two years. And in fact, the original version of this bill was set to kind of move through and get.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Who's in charge? Who are my regulators? You can see why it would be challenging to try to build something really innovative and novel in that environment.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Pretty much, yeah. You know, you can't count out the United States, right? The United States decides that it wants to invest in a technology, meaning make it a friendlier environment within which to build on that technology, you're going to see it skyrocket. But nevertheless, it has not been a particularly friendly or easy environment for builders in Web3 more broadly, certainly in crypto. And I do think you've seen offshoring of developers, folks moving to other places that do have more established rules. So everything from everywhere from the EU to the UK, United Arab Emirates, Singapore, Bermuda, like all big, small jurisdictions and the United States, we're still kind of like, we don't really know what's going on here.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Really going to see the United States from its regulatory and legislative perspective push this technology offshore as much as it possibly can. And that was very demoralizing for people not to understate the impact of the FTX fraud. Nevertheless, that was one small group, right? Didn't represent an entire industry, to say the least. So I think we have kind of, I wouldn't say we've exited fully the sort of FTX era, if you will, but I find for me, no one's really talking about that anymore. You know, Sam is in jail. Ryan is apparently going to jail. I think people feel like consequences were issued. And the industry has grown so much and proven even in the wake of that big collapse of a really massive exchange to be very sticky and persistent. And so the idea that one company could kind of like topple the industry was never true.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“I think it's both. So, first of all, I'll say I didn't find the mood at consensus to be as euphoric as I think people on the outside of the industry might imagine. I think that's just because so many of us have been through these cycles before. So it's the enthusiasm for this kind of rising bull market is a bit more tempered than it's been in the past. There's been some maturity, I think, there. But I think it's different this time because we're finally seeing some movement in the United States in terms of what seems to be a bipartisan and real understanding that this technology is A, it's not going anywhere. It is very sticky. It's around. So everyone has to figure out they're going to do about it or with it or whatnot, right? And that there is a desire to make the United States competitive when it comes to the innovators and builders in this space. Whereas I'd say two years ago, particularly in the wake of like the FTX scan, all those kinds of things, I think there was this sense that, oh man, like we're”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Think that's fair. It's a transition. Web3, we're transitioning into a Web3 world, as a lot of us say. And that is happening faster when it comes to the money side of things, the current side of things, and slower when it comes to the data side of things, but that's catching up. So crypto is a tool. I think of it as a tool. Usually when you refer to crypto, you're talking about a token that is a marker of a thing. And it is what you can do with a blockchain is track the movement of the thing from place to place. And crypto is the thing you could say that is moving.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, so blockchain is a technology, it is an underlying technical architecture, it is essentially a way of creating a decentralized and distributed system for tracking the exchange of value from a place to a place. And that's a blockchain. There's a technical term. Web3 is an ecosystem. It is about everything from culture to governance to the applications built on top of a blockchain. There are different what's called layers that go into that. So if you think about Web2 is kind of like we're all using apps and giving our data away all the time, et cetera, it's kind of the traditional web experience. Web three is a different experience where at the heart of the experience is user-owned information. User controlled, user-owned data, user-owned user-controlled value, money, whatever it is. Okay, so that is a lot of different elements. It's the broadest of the terms.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“Oh my goodness. This year they had a bunch of different members of Congress that came down. They had RFK Jr. speaking who's come out as kind of a crypto guy. Lots of discussions about former President Trump, about President Biden. So I'd say it was a more policy and politics oriented conference than usual. The other thing I'll note on technical side was lots more discussion of decentralized AI. People in crypto even now, it's become a little bit more mainstream for sure over the last five or so years and definitely in the last year and a half. But it's still a place of people who believe there is a culty element to it, definitely. So sometimes you see some funny things for sure.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT
“20% of Americans across all demographics hold crypto A wild number one in five is something to take seriously and not to be afraid of, but also to be aware of because it's not just something relegated to like some randos on the internet, you know, or sophisticated investors who are tracking the price of tokens every single day. It's more relevant to everyday people than most people understand.”
2024-06-04 · Masters of Scale · Rapid Response: Crypto’s new chapter, w/Crypto Council for Innovation’s Sheila Warren · IDENTIFIED FROM THE TRANSCRIPT