Dr. Eva Porras, an honorary research collaborator at Universidad Rey Juan Carlos and the Managing Director of Smart Ledger Services, was featured on the Women of BSV interview series. She shed light on many topics, including research, finance, and digital currency, and spoke about her background and first encounter with Bitcoin. Dr. Porras, who has a Ph.D. in Finance, said she entered this industry “by chance.”
“In 2011, I came across a group of cyberpunks and read about the Bitcoin white paper. I read the paper, liked it, but I was apprehensive as you’ve got to be careful with things like these and stock market,” she said.
Porras remarked that as long as banks are dumping money into markets and people are gambling, there will be a difference between the real value of companies and the value at which they trade. “It is cyclical,” she pointed out, adding that people don’t understand digital currency and what’s underneath them.
Speaking about her dissertation topic, Bubbles and Contagion in Financial Markets, Dr. Porras noted micromanagement and inflation happen within the banking system. The same is the story in the Bitcoin world.
“The world of cryptocurrency comprises a group of people with no vision, which has affected the growth of this sector. Satoshi Nakamoto, the only creator of Bitcoin, has a clear vision. It is like a black box where money and wallets can disappear. It is still not a levelheaded industry because of a lack of rules. Countries like U.K., U.S., and Switzerland are ahead of the game, but there is still a long way to go.”
When asked about the scope of regulations in the Bitcoin world, Dr. Porras said some technologies might prove sustainable, and the legal aspect will provide more clarity. It will be better off once the governments gain a better understanding of the technology. She cited an example from 2016 when 3-4 out of 1,000 digital currencies occupied 90% capital of the market, but then things got complicated because of no regulations.
Dr. Porras also spoke about central bank digital currencies (CBDCs) and the concept of “private identity in the digital sector,” explaining that the European Union and the Bank of Spain are currently studying and evaluating it. She believes that the sector has both potential and problems, so a world where digital identity becomes a reality has enormous potential.
“All countries don’t have the same intention. Venezuela has all the oil, and they can’t survive without it, so what are they going to do with digital currency? The same is the case for Cuba,” Dr. Porras said.
Demographics are a challenge in advanced society because the average age is no longer the determining factor. “We are trying to make people understand a new technology which is different to grasp for everyone, so we should make it easy for them. There is no need to have 22 wallets and passwords,” she said.
Countries like the U.S. are more advanced and understand technology, whereas places like Southern Europe do not. Finance and economics are taught to kids in the States while other countries don’t emphasize the same.
Dr. Porras has published a paper titled “Bitcoin and its Ethics in a Technological Society,” and has done extensive work studying how every revolution encounters resistance and how it shows in a myriad of behaviors that further have ethical implications.
She is currently the Managing Director of Smart Ledger Services, offering solutions on blockchain to companies across the globe. She is also a professor and is writing a book about the status quo of research. “My life is a bit of academia and a bit of business,” she happily pointed out.
Regarding the ongoing Kleiman vs Craig Wright trial, Dr. Porras mentioned that court cases wouldn’t determine the future of digital currencies. Still, organizations such as Smart Ledger Services populate the market and bring solutions to average companies.
Watch: CoinGeek Conversations episode, Women of BSV: We’re not oppressed minority, we’re just asking different questions
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