Master Plan S4 E1 with Corey Desir #Cryptocurrency #Business


welcome to master
plan I am your host Monica Sekhmet grant this is our fourth season now if
this is your first time watching master plan let me catch you up to speed master
plan is about entrepreneurship for underrepresented communities so if
you’re a millennial a person of color LGBT person or anybody who just wants to
boss up this show is for you now today you know we gotta had a conversation
about cryptocurrency everybody’s talking about it
Bitcoin this coin that coin yeah we just want to know how do I get in and how do
I get some money all right so today we’re gonna talk to Corey F Stedman he’s
an entrepreneur and IT guy and his company is digital exchange innovations
all right so stay tuned so we can know how we get this cryptocurrency thank you so much for coming it’s been a
blessing man thank you cryptocurrency man like everybody’s
talking about it but there’s not enough information you know I brought you in
you know we know peg and I was like peg you know I need somebody on
cryptocurrency I know you know somebody can you can introduce us
she made the intro since our first time meeting but he’s got a lot of questions
for you so please don’t be offended if I just go right in because this is the
world we live in right now everybody talk about cryptocurrency but I don’t
feel like there’s enough information yeah so just to start off can you tell
me like how you got involved like what’s your backstory so my background is an IT
specifically Linux and open source okay and you know in that kind of circle you
know any kind of new technology that comes out you know everybody’s talking
about it and this was back in about 2010 when I first heard about cryptocurrency
and I heard about it and I probably put it off for about maybe a couple of
months then I heard about it again even more and it really piqued my interest
and I started reading more about it and this reading so tell me what it is
cryptocurrency so cryptocurrency is digital currency
just like how we have our bank accounts that exists digitally but the difference
is that it’s not controlled by a central authority
so our currency fiat currency our dollar is controlled by the US government
where as cryptocurrency more more reflects gold or silver or any kind of
physical commodity we’re used to however it exists digitally now the reason why
is able to exist that typically anything in a digital space there’s no scarcity
associated with it so like I know we live in meme culture any anyone comes up
with a meme has proliferated across the internet now what they’re able to do was
there a to assign physical properties to digital
assets we need to say if a Bitcoin was a picture and I sent you a picture I would
no longer have it you would have it and this is revolution so what’s an actual
transfer so there’s an actual transfer so another way to think of it is and
this relates to the blockchain which controls who has what and where things
go if you’re to look at a whatsapp group let’s say you myself and Peggy were in a
whatsapp group and you know I said I’m gonna get Peggy you know three bottles
of water right and let’s say a week goes by and I say you know I don’t have the
three bottles of water and I leave the group it doesn’t remove my obligation
nor does it remove the record that I had said without said okay so that’s how
blockchain works it’s append only database okay and by having that append
only database that’s immutable and that’s a decentralized it’s really
changed how we’re able to do you know Commerce and finance and all source of different things in digital environment
right right environment so so I hear you know and I see this as being the future
but even like so that conversation how I feel like that’s super technical it is
you know how how do you explain cryptocurrency to either a child or not
even child but just someone who just doesn’t understand cuz I’ve been in
these rooms yeah and I’m still like I don’t know all of what you’re talking
about you know how do we bring this to the
masses well think of it like venmo okay so you know then we’ll the social
platform in a sense where people send money back and forth to each other
think of cryptocurrency pretty much in the same sense okay it’s just that with
venmo you’re interfacing with your bank account and fiat currency where as with
cryptocurrency you’re interfacing with these digital materials okay so that’s a
great that’s understand it very clearly right okay so then how do you how do you
initially get the cryptocurrency so there’s a couple of ways that you can
initially get cryptocurrency mm-hmm you can just buy it outright
okay which is what most people do or you can mine it and mining it’s kind
of an alum it’s kind of what it sounds like if you were to think of it like
let’s say you had a plot of land and you got a whole bunch of men you know to you
know dig down mm-hmm whatever they dug whatever in the process of digging
down whatever they found would be yours okay right so in the process of with in
with mining in cryptocurrency is kind of similar in its sense that you are
verifying these transactions going back and forth on the blockchain on the
network and for verifying those transactions making sure that they’re
legitimate you’re rewarded for performing this public service and so
that’s another way of obtaining cryptocurrency cuz I’ve seen these
mining games mining will it depends but generally generally speaking is, is
usually a computer ok or a little machine that just runs 24/7 verifying
transactions so can an irregular person do this yes and no, yes you can
however the difficulty has gone up so much it’s become like an arms race that
the average person can do it can’t do it it won’t be it would not be financially
feasible okay particularly if you’re running a computer all the time you have
to have running your computer all the time you know it’s not gonna make any
sense unless you were to buy a significant amount of power got it and
you’re to join a pool of other people who are also mine oh wow okay okay so
pretty much the the option for regular people is to buy cryptocurrency yes okay
so like the most famous one is Bitcoin I know there’s a lot of
cryptocurrencies one how do you buy cryptocurrency and how do you know what
to buy so you can go on various exchanges there’s coinbase
there’s binary Victrix there’s whole bunch and the original so
mean to say if you’re in South Africa you know you’d go to an exchange called
Golic sore you know if you’re in the UK or Europe you would use bit stamp
because they really cater to their local mark their local markets but the market
overall is global now in regards to other cryptocurrencies there are
hundreds and you can make one up as if you want you could but there’s a little
bit more there’s a technical aspect to it so it gets like there’s just like
each element on a pier on on a periodic table
mm-hmm has different properties yes every cryptocurrency has different
properties and uses okay so maybe where you can use it like like you were just
talking about countries so maybe that’s a property or not um not per se so like
for instance bitcoin is a vehicle of that value transfer you know just like a
dollar is a vehicle of value transfer same as Bitcoin where is a theorem not
only is it a vehicle of value transfer but it’s considered to be the world
computer normally say that you’re able to program the money to do things that
normal currency cannot do like what mean to say for instance if you own an
apartment building uh-huh it is just a hypothetical scenario and
you told your tenants now in the first of the month I need you to deposit X
money in my wallet mhm and if they don’t the door won’t
open no way so it’s okay it’s in a sense
worse like New York City now what enables what enables a theorem to do
this is certainly most smart contracts is basically being able to program your
money okay or program money to do things on your behalf without your constant
interaction Wow it’s so this is killed everything with
the theorem now you’re able to have decentralized disappearing theorem is
another cryptocurrencies okay be able to have all sorts of different applications
you know it’s a lot so so what’s the what’s the future crept up the future of
cryptocurrency you know so we went through a bull run where what you know
the value of Bitcoin went up 2/3 20k and then the market almost hit a trillion
and now it’s significantly cooled off however what’s going on in the
background well people may not be realizing is that a lot of VC firms a
lot of investors are investing in the infrastructure that backbone ok
so when the next ball run comes I in my opinion I predict that it may be just as
significant as before if not more I’ve had terms of pricing in but then also
you’ll see over a lot more practical application like what more stores
accepting it I’m seeing that already more peripheral uses you know so a lot
there’s a lot of in the world of cryptocurrency there’s a lot of
theoretical uses yeah a lot of those theoretical uses may actually
materialize got it for instance digital IDs so you know let’s say you’re a
refugee you know you’re not going to be able to carry your passport and X Y Z on
you all the time so being able to put your identity in a blockchain that’s
available globally I was actually speaking to someone who works with the
UN about that how you have to move from different refugee camps and you know and
so it’s for me that’s when it was like it made sense you know it made perfect
sense I mean just you know look at the the war in Syria let’s say the war in
Syria ended tomorrow right and your to go and reclaim your home and your
neighbor is like whoa my boundaries over here and you’re like
nose over there but if the deeds were digitized on a blockchain we’re not
disputing that’s right yes so these are these are things that you know the
blockchain solves okay and addresses and it is only a matter of time that these
things actually become a little bit more mainstream got it got it got it
so tell me about your company digit exchange innovations so they’re you know
exchange innovations we we started off with the thing with the idea of setting
up a cryptocurrency hedge fund mm-hm when that didn’t we pivoted because we
figured that we’re a little bit too early to do something like that so we
decided to create tools for hedge funds okay while we were creating our tool
which was a triangular arbitrage trading bot okay I know that’s another basic
name it was an auto trading bot so similar to what you see in the stock
market yes these high-frequency traders yes where it’s just a computer doing
buys and sells automatically within milliseconds I just program it to do you
know the same thing we’re going to do the same thing with cryptocurrency oh
wow but doing it across exchanges okay there is there was a lot of factors that
that kind of made not made it impossible but made it very difficult for us and so
while we were working on that we developed accounting software for
cryptocurrency home which is we’re working on how to catch your money
basically it’s called pouch it’s a wallet pouch yeah it’s cute thank you I
like that I didn’t come over to my partner did I like your name um so
basically it’s a wallet that stores a cryptocurrency but it performs other
functions as beyond normal cryptocurrency wallets
such as you know address book sending sending you know sending stuff by
non-traditional addresses and there’s a couple of the feet
but I don’t want to talk about sure but we’re looking to launch that soon okay
so I’m big on community of color just under represented communities how do we
get this information to them and/or to us and because I feel like when I’m in
these rooms it’s just me you know so how do we have more of us in those rooms
well if if the multi-layered and I think generally we need to be we need to be
exposed right so a lot of a lot of us not being in these rooms or not knowing
about these things or being risk averse it’s just under exposure you know I
believe that and so I think that’s the first hurdle to overcome it’s like you
know you know something you have to you know tell your cousin’s about it yeah
you know I’ve told my cousin’s for years and also and stuff right only later
they’ve come back and like you know core you’re right listen you can be my cousin I think that’s the first hurdle okay the
other hurdle is I think where the people are overly risk-averse anything and it’s
not for it it’s not unfounded mm-hmm but I think because of where technology is
going it’s a lower the barrier mm-hm but then also it’s increased the consequence
that’s real that’s real and I would like to be a part of that we don’t work
together yeah alright so next we’re going to go to our ladies first segment
this portion we we talk to women in Harlem about their businesses and so
we’re gonna shoot some ladies first hi my name is Debbie Misha I am the
owner of central energy alchemy my business focuses on tantric workshops
and classes and sacred sexuality I help men and women have better sex healthier
relationships orgasmic wealth because I believe that makes for a happier life my
ideal clients are people of the African Diaspora though I will work with
everyone but I specifically tailor my services to militated people I enjoy the
freedom and the challenge of being an entrepreneur there’s freedom and being
able to create what I want the services that I want and the freedom to express
myself creatively there’s also the challenge of running your own business
and making sure that you have the clients that you desire and attracting
those correct clients to you to be a woman in business for me means power it
means using all of the gifts that I have from my sensuality to my intelligence to
really create a brand that I believe brings a lot of value to the lives of
others one piece of advice that I would give to younger woman starting a
business is reach out and ask for help you don’t have to know everything that
there is to running a business and you never ever will it’s important to
collaborate with other people who know more than you who’ve been on the journey
longer than you have so that you have a fuller picture of what to do and you’ll
avoid making some of the mistakes that some of us have made you can find me
online ww central energy alchemy com you can
also find me on Facebook Instagram and Twitter I post mostly on Instagram but
you can find me there at central energy alchemy hi this is Debbie my YCJA and
you are watching young boss TV you mmm do you love coffee I love coffee can
there ever be enough coffee no there can’t never be enough coffee so check this
website out drink never enough dot-com and also check out social media at drink
never enough Facebook and Instagram you can get yourself a couple of exactly
what I got right here you have a variety of flavors it’s great it’s from the
motherland and you’ll be supporting a great cause so be sure you check that
out drink never enough calm and social media at drink never enough welcome back to master plan I’m here
with Cory Steadman we’ve had a good conversation about cryptocurrency next
is our segment called master lessons now what this is is I’m gonna read out some
real-life scenarios that happens to everyday people and what I want to know
from entrepreneur is how would you handle it you ready all right okay you
have a friend that needs a job you hired them to help them out once hire they
start showing up late they start taking over your meetings and challenging your
leadership what do you do and has this happened to you before no it has not
happened to me before similar but now has not directly like
that you’d have to take them aside and explain to them you have to talk to them
about it now if they’re the type of friend that takes advice then you can
you know move on mm-hmm if there’s a hard-headed type and we have to you know
put them in timeout have to you know sit this one out how do you keep the
relationship oh you can still you know one thing that’s one thing I tell my
friends and I hope they remember is that when it comes to business like I’m gonna
be Stern with you I’m being Stern with you out of love mm-hmm on a personal
level I love you no matter what right you know so so regardless of if we get
in the argument and it’s about business you know we can go to Golden Cross later
on I know it’s not a it’s not a big deal I don’t take those things personally
some people take it personally banking so I used to answer your question more
directly I would tell them like listen you know I don’t like this this way you
did wrong x y&z and if they continue we’re gonna have to like you know put
you in timeout never sever that relationship at least for the time being
but sure communicating yeah communicating with
them okay I dig that okay next you are at a business Expo and you have a table
selling products and after setting up you see another business who are selling
the exact same product what do you do oh I mean I believe my product uh-huh you
know this Toyota’s and Honda’s swear word work if you go down to bread aisle
the whole bunch of bread whole wheat bread by different companies in that
moment there’s nothing to do you just sell your product afterwards you can
look for an opportunity to partner up because this is like that you know by be
by partnering with a business in your field you can possibly lower costs and
you know you could you know scale better word I like that I like the learn from
each other yeah I like that I like that no competition let’s work together
one more okay cool if you came into $50,000 this one says
found but if you came into $50,000 however you got it and how would you
spend it oh no exactly what I’ll do that’s here um I would so buy with
10,000 mm-hmm I’ll set up a cryptocurrency mining account okay when
Genesis mining so basically it’s issuing me cryptocurrency every day or every
other day okay the rest of the money was another 10,000 I’d use that to further
develop a product pouch okay we can get it to market quicker other 10,000 for a
bit of marketing okay we’re at 30 now and we’re a third you know so does
20,000 left the other 20,000 I’ll most likely fit it
you know I’ll set it aside okay because that could be used for you know whether
it’s hiring interns mm-hmm or getting office space sure you know so that would
be suicide for that all those purposes awesome so you just let somebody how to
build an empire got it got it well thank you so much Cory you where can we find
you so I’m on Instagram okay and Twitter Cory de xira Cory desert I spell that
cor you why mm-hmm the zero des ir the ESI are Corita 0 and your websites
websites are down for now okay okay go home because we’re just developing you
just mining the money yeah all right here hey do you teach any classes or
anything about um we can come into it I’m working on some materials so I was
teaching classes I’ll probably start up in April again okay and I should be
having a book out in May oh very nice we’ll come back on and talk
to talk to us about it definitely awesome well thank you so much for being here
awesome awesome awesome alright so that is our time thank you so much for
watching master plan I have to give a major shout out to our sponsors young
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later peace

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