Blockchain – A Revolução da Confiança | Taynaah Reis | TEDxBlumenau


Translator: Felipe Lacerd
Reviewer: Theresa Ranft Technology has transformed my life. This is me, one year old,
with my first computer. As a small child, I’d be curious
about everything. I was homeschooled by my parents
until I was eight. My mother taught me the school of life. But she’d always spend
a lot of time in the bank, and I loved playing bank, and I’d anxiously wait for her
with my deposit slips. I’d say, “Mom, you don’t need
to spend so much time in the bank. When I grow up,
I’ll create the bank of all banks, and you’ll be able to do everything
in one bank only.” However, it’ll be a bank
where I would charge the bank’s interest. It would be a different bank:
it would give instead of take. I grew up with that in mind. But it all started when I turned 12. My parents had a car accident, and I had to manage on my own. It was when technology
saved my life for the first time: I started to build websites. I didn’t charge for my first website.
I did it for free, for a restaurant. I then approached
its neighbor rival and said, “Hey, the restaurant
next door has a website.” This was quite something 18 years ago, it was a luxury. He then said, “OK, OK …”
I’d insisted so strongly that he … I’d check a business card and say,
“This looks so ugly, I can do better. If I make it nicer, would you pay me?” That’s how I started,
being an entrepreneur in order to survive. It was really hard. I had to mature really fast as a child. And it’s not easy to be
an entrepreneur in Brazil. Being a woman … it’s even harder. I faced many obstacles:
one of them was access to credit; secondly, getting the mentoring
and support I needed; thirdly, being respected, as a woman,
in the workplace and in relationships. Oftentimes, I had to work five times
more than my male colleague, so I could stand out. And there was also
the access to innovation. But I designed systems for the government
to monitor hydroelectric power plants, as well as games and applications. I grew up fast, became more mature, went bankrupt, started over, fell down,
got back on my feet … fell again, got up again … and my father was always there,
by my side, inspiring me. My father managed to innovate
in a place called the government. In 1996, he created a governmental
program named PRONAF to provide credit to family farms
in Brazilian rural areas. This program would give access
and opportunity to rural people, and it also helped
the entire cooperative system to grow. This inspired me a lot, but the government was hard,
we faced a lot of bureaucracy. We saw how hard it was for a farmer to have access to an ATM machine, which was, on average,100 km away. Governmental loans would take
around 120 days to be granted. That’s far too long. And when they go to a private bank, just like today, the average annual
interest rate is 143%. That’s far too expensive. And this when you don’t need
something urgent, for instance, you might have
a faulty coffee irrigation system, and the crop needs irrigation,
otherwise the yearly harvest is gone. What options are then left? Credit card. Here, interest rates range
from 1000% to 3000%, and when you don’t pay
the minimum required, the debt snowballs. So, in reality, there are around 80 million Brazilians who don’t have a bank account, or they have a bad credit rating. And 13 million people are starving. So, I found a way to help
through technology, a way to connect people. The Moeda project stemmed from that. What is Moeda? In Portuguese, “moeda” means
currency, like this banknote. But if you get rid of this note, it doesn’t have an owner,
my name “Taynaah” isn’t written on it. If I give this same note to a beggar, I don’t know if he’ll buy alcohol
or if he’ll help his family. What if I could attach
my identity to this note? If I can attach my identity to this note, it gains value, and it can be transferred. What if I could also attach a contract
to this note and identity, so I could know exactly where
I’m going to spend this money? So, I could send these R$100 to Africa, and I’ll know which doctor I’m helping, which child I’m helping,
which medicine I’m buying. So, it’s really thinking about that – how to add value to money,
add an identity, add a contract – that you can see the power of blockchain. Blockchain is a protocol and is currently
a cutting-edge technology. You’re going to hear
a lot about blockchain. With blockchain, I can go beyond. Blockchain’s most successful
case was bitcoin. With bitcoin, you can make
a financial transaction from very far away, in seconds, send the money, and you have your identity, your address,
and your signature pegged to it. So, in this case,
you won’t need a middleman. The middleman is the bank because it charges a lot to ensure that I’m Taynaah,
and I own my money, that you own your money. The rates are extortionate,
and the time spent is too long. So, imagine we could
also attach to the contract objectives and goals
that need to be fulfilled. These are the UN’s Sustainable
Development Goals, which we’re all accountable for in helping to end hunger, poverty, and create gender equality. Imagine if we could put
all that in a box, in a block, and then lock it with a padlock, and imagine this block is transparent, and the information can’t be deleted. This is the power of blockchain:
you can’t delete the information, and it’s shared in a transparent manner, and, ultimately, we win a major battle, which is a battle
this country fights a lot, the fight against corruption. I’ve built my career abroad. I’ve lived in New York, London, Sweden. It wasn’t easy. It wasn’t easy listening
to my colleagues saying, “I won’t invest in your country.
Your country is in a total mess.” “Your politics … what’s happening?
And your president … what is this?” I’d say, “Gosh … I don’t want that. How can we change that? How can we connect good people so their voices can be heard?” That’s when I realized
the power of transparency and that we need a revolution that isn’t technological,
but a revolution in trust, so people can believe that, yes, there are good people
in our country making the difference, and they deserve to get credit, have access to mentoring
and innovation and be respected. Now, imagine that people
from the other side of the world can connect to these people
here in Brazil. At Moeda, we had around 841 investors, most of them Chinese. And it’s interesting
that most of these Chinese investors are between 20 and 28 years old, young people investing in Brazilian
projects of female agro-entrepreneurs, coming from rural areas that now, finally, have a voice. So, the possibility of connecting, the possibility of building this trust,
this bond, being stronger, helped to give voice
to these female entrepreneurs. There was an extensive study carried out
by the World Bank on the Grameen Bank over the question of Muhammad Yunus, the bank for the poor, that proves that women are good payers. Women think in the long run,
in future generations. So, they manage to multiply the money, multiply the impact of that money. Most of the earned income
goes to the family: 80% of the income
is reinvested in the family when the money
is in the hands of a woman. And we know there’s a lot
of sexism in Brazil. Women work, but it’s the man who goes
to the checkout counter, holding the wallet. We must change this reality; empower women,
the ones who are by our side. So, if it was difficult for me
who grew up in the city and lived abroad, imagine how hard it is
for a rural entrepreneur to have access to credit, to this network. So, with this in mind, I realized that technology
could give voice to these women, so they could tell their stories. Who else but them
to tell their own stories and have direct access to investors,
with no middlemen, and tell how much
they will impact with that money. And also for us to audit
the entire process in a transparent way,
using technology. So, the investor will see everything,
from the creation of the business plan to the provision of the funding; the investment will return,
the impact will be made, changes will take place, and it’s all recorded,
also in a database of knowledge, so we won’t need to reinvent the wheel. I’d like to tell Divina’s story. Divina is from Formosa
in the state of Goias. I’m really proud of her. Ten years ago, my father managed
to set up her first cooperative. It’s a production cooperative
where she’d gather the members to process frozen fruit pulp
and pick Baru nuts. So, right there, in the middle of Formosa,
100 km away from a bank, she’s managed to impact
170 households in the past 10 years. We went there and went beyond. Because, nowadays, it isn’t only
about teaching how to fish, we must also give them the fish
and help them to sell it. That is what makes the difference. So, we talked to the mayor
of the town, and he said, “Well, let’s sell your product directly to our local schools.” That’s how we helped her
to sign some contracts, have revenue guarantee,
and also create jobs and generate income. That’s what my father
would always teach me. You must encourage a person to grow in an independent way
and stand on their own two feet. So, after investments were made,
her production increased fivefold. And now she’s happy,
because with the technology and with this possibility
of being able to tell her story, there are fewer middlemen. She used to sell a packet
of Baru nuts for R$5. She’d sell it to a person,
and this person would sell to a middleman, and, in the end, it was sold
for R$7, R$8 at local shops. She’d lose a lot of money like that. So, we connected Divina
with many more people. It’s not only the power of the credit;
it’s now also the power of the network. Because when we connect the right people, we can multiply things. So, she’d lose a lot of money
with the existence of these middlemen. By selling directly, she can now
sell a single drop of Baru oil, put it in a hair product, and this final product
can be sold for R$50. So, the power of technology,
the power of blockchain, the power of our currency … our currency is the currency
of transparency. It’s very easy sometimes
for us to judge things, but when we do it,
it’s a paradox, isn’t it? When we judge, we point a finger and say, “The government is the problem,
corruption is the problem.” But we forget there are three fingers
pointing back at us. What are we doing then? I’ll also share Sandra’s story. She’s from Chapecó,
the state of Santa Catarina. Wow, Sandra is a superwoman,
a real fighter. She managed to raise a lot of money, slowly, bit by bit. She found a public notice for purchasing
a milk pasteurizing machine and then ran to a bank
that had another public notice, and she participated
in buying another machine, and she managed to build up
the whole structure of a milk factory. But she never got the main thing,
which was the working capital. Our country has also another problem: it has a lot of money
for many disconnected things, but for the main thing – which is for you
to run your company for 60 days – it doesn’t have, it’s expensive. So, after providing the funds to Sandra, that huge factory that she managed
to build and that was closed, will now be up and running. So, we realize how simple it is, it’s inside each one of us. And the technology we have today enables each one of us to promote change. And we need the cooperation revolution. Let’s cooperate so that each woman next to us
can be empowered, so everyone can be reached, and, together, we can change many lives. My father – no ones knows this
because he’d never talk about it – but he directly helped 3 million people
with his programs, trying to innovate inside the government. But everything was too limited. My goal is a bit more ambitious. With the use of technology
and the support from each one of us, from Brazil and from the other side
of the planet, from China, and from other countries that are willing to help brave women in Brazil, my goal is 3 billion people. And I believe we’ll do it, together. It might take a while for everyone
to have a change of heart, and instead of having some money
just sitting in a savings account – yielding 5% at most – can invest in Divina, Sandra, Maria, and have a 5%, 8% return. It’s about changing the concept
of investing in things to invest in people. Thank you. (Applause)

3 thoughts on “Blockchain – A Revolução da Confiança | Taynaah Reis | TEDxBlumenau”

  1. Parabéns , isso me enche de orgulho. Eu mesmo já comprei Mda, mas sabendo mais do projeto e até mesmo ele sendo Brasileiro fico feliz. Parabéns.

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