Amid the seismic economic shifts taking place globally, cryptocurrency and blockchain are garnering massive attention worldwide. From bank custody solutions to retailers to governments, there continues to be a rapid global advancement of trailblazing digital solutions
In a newly released book entitled “The Cryptocurrency Revolution,” author Rhian Lewis takes an expansive look at the explosive progress being made in this space including borderless payments, decentralized finance (‘DeFi’), and machine-to-machine transactions, just to name a few areas.
Written for laymen as well as those knowledgeable about this arena, this book explores the growing value-proposition of the crypto world and its promise for making the financial world more consumer-friendly and efficient. It explores rapid developments taking place around corporate-backed virtual currencies (like Facebook Libra) and how governments and regulations are responding. Using the foundational principles tied to tokenomics and public and private blockchains, Lewis’ book offers a deep dive into the dynamics fueling the forever evolving world of payments and finance.
Lewis, a software engineer and blockchain consultant is highly regarded in the European cryptocurrency space. She is a graduate of University College London with a bachelor’s in economics. After a decade-long stint working as a news journalist, she elected to morph her hobby into a career and began working as a tech consultant. Later she became interested in the blockchain and cryptocurrency space and has the distinction of having built the first altcoin tracker for determining the worth of investments for crypto users.
The co-founder of London Women of Bitcoin, she has been listed on CoinFilter’s Top 40 Women in Bitcoin and Richtopia’s Top 100 Fintech Insiders. Lewis splits her time between England and Germany.
In an interview exclusively for Gokhshtein, she was asked to share a little about her professional journey as well as what prompted you to write “The Crypto-Currency Revolution.” Here what she had to say:
“I’ve been interested in the idea of cryptocurrencies since I first learned about Bitcoin in 2013. I soon dived straight into this fascinating ecosystem and built a cryptocurrency portfolio tracker to help people calculate what they owned, learning as much as I could about the technology. Although I now work as a software engineer, I used to be a journalist. So because I enjoy writing, I wanted to share my knowledge in a format that people would find easy to read and understand.”
Lewis says that there have been a lot of stories in the media of late regarding how central banks (like the Fed or the European Central Bank) might issue their own digital currencies that would either replace or run alongside traditional fiat money. She notes that China has already launched its own digital currency. Additionally, Facebook, she says, has been talking to regulators about how they might launch their own payment system allowing Facebook and WhatsApp users to make direct digital payments without the banking system. Added to this, the growth of ‘DeFi’ – decentralized finance has led to a lot of headlines again about people making a lot of money with cryptocurrency.
“I thought it would be very timely to publish a book explaining the differences between all these types of digital currencies. I’ve been writing blog posts about cryptocurrencies for years and also running a meetup group for women in Bitcoin. So I’ve spent hours and weeks of my life simplifying these messages to the point to where someone who does not have a lot of time to spend reading in-depth can understand them.”
In terms of significant trends on the horizon over the next 12-18 months, Lewis added this:
“One of the stories that caught my eye was the news that business intelligence giant Microstrategy, a mainstream company which is Nasdaq-listed, has bought $425m worth of Bitcoin. I would expect that at a time when we are expecting inflation in government-issued currencies, more companies will undoubtedly want to follow suit by shoring up their reserves through the purchase of Bitcoin.”
Lewis also believes that the growth of DeFi will also create plenty of headlines, along with the trend around digital art being registered on the blockchain.
“In general, I would always encourage people to take a look at Bitcoin in order to understand what makes it unique. Because even those who decide not to consciously buy Bitcoin will probably find themselves using digital currencies in some form before too long – whether through issuance by their government or via a company such as Facebook or Walmart.”
With regards to how the global (Covid-19) pandemic has impacted the advancement of blockchain and cryptocurrency adoption, Lewis had this to say:
“Two things: First, people have been using a lot less cash. Not only are people less likely to meet up in person now and more likely to have digital interactions, but for hygiene reasons, many companies are discouraging the use of notes and coins. So that has prompted a big debate about the future of digital money, and whether the type of bank-to-bank digital payments we have now should be replaced by national blockchain-based digital currencies.”
“The second factor is that governments are having to print huge sums of money to keep their economies going, which may lead to inflation. As a result, some people may be looking around for a hedge against that.”
Lewis concludes by offering her greatest hope in terms of what readers of her new book will walk away with:
“I very much hope that it will spark an interest as to why exactly Bitcoin has been such a revolutionary accomplishment. I also hope it will dispel a lot of the misunderstandings around cryptocurrencies and encourage people to dig deep and think about what money actually represents. It is absolutely not a ‘get rich quick’ book, and I hope it will help readers make informed decisions. More than anything, this is a really interesting story about a whole new chapter in the evolution of human societies. So I hope everyone who reads it will enjoy it!”