Promises of Permanent Data
Amelia Guertin is a visionary entrepreneur who is currently a founder in residence at Thesis*, a cryptocurrency venture studio with a mission to build and fund values-aligned projects in Bitcoin and freedom tech.
Prior to joining Thesis* Amelia was the COO at Bundlr (now Irys), the only provenance layer that enables users to scale permanent data and precisely attribute its origin. She was also a Senior Product Marketing Manager at Coinbase and Snowflake.
Amelia's academic foundation includes degrees from Nanyang Technological University and Ryerson University, complemented by her practical experience in diverse fields such as financial services and wealth management
#FridayFutures Highlight 26: Amelia Guertin, Founder in Residence - Thesis*
What drew you into the cryptocurrency space, given your background in marketing?
In universities or sometimes when you speak to professionals, they're like, 'Yeah, this is the path that you're supposed to take, and it's the only path that can lead to success.' That was by far not my approach at all. It's definitely been a very zigzaggy journey.
Before I started working in larger traditional tech companies like Salesforce and Snowflake, I actually worked for a large Canadian bank, Scotiabank. It was great. I participated in a rotational program right after university.
I didn't see myself as a career banker; it was a bit too different from my initial childhood dream of becoming a music theater performer. I ended up doing too many rotations and became a banker at a very traditional bank. However, what was great about that experience was that it was the first place where I was introduced to and discovered Blockchain.
I found decentralized finance (DeFi) incredibly interesting and promising, given my background in finance but what excited me even more was reading about the music applications of blockchain. For me, it was like, 'Wow, this is really impactful, really meaningful.' Not just for people in the financial space but also for artists, giving them some sort of provenance over what they had created.
I bought so many books and read as much as I could about it. But I didn't immediately pursue a career in blockchain. I ventured into tech, but blockchain remained a side interest, a side hobby of mine until I had the opportunity to work at Coinbase. That was my final or, you could say, my defining moment when I could enter the space in a safe and secure way.
What keeps you inspired in the cryptocurrency space?
I often need to remind myself why I'm here in the first place. It's easy to get disenchanted by the space, especially during a bear market, especially given all the negative press that we'll get.
One of the things that I loved when I went to Bundler - my first real startup environment, Josh Benaron, who's the founder, built something meaningful for our ecosystem by making it accessible. When we started looking at some of the other applications, as it came to data provenance, that was meaningful for me, specifically because I spent so much time in my web2 career at Salesforce and Snowflake talking about this problem, which is data security and data cleanup, which is so unsexy and uncool but so important. It wasn't something that centralized technology could ultimately solve because you always had a number of different risks associated with that.
I think permanent data is something that is impactful, and in terms of innovation within that space, it's pretty impressive. I don't know why people don't talk about it enough, but maybe I'm just a little bit too nerdy regarding data. But Bundler's ability to apply real-time provenance to when something was created, by whom, and have all these different attributes associated with the data. That was something that I could get behind because when I think about my friends growing up who are all artists, I could just see the application for them specifically.
Then you can go into the science realm and see if a paper was published by someone at a specific time, then you can verify that and ensure that it's not deleted or manipulated over time. There are so many moments, especially within the science space where you don't know who's published it, you don't know who sponsored it, and you don't know if it's been changed over time. Like there's no way to track the different versioning and how that's been done. Having immutable permanent data is something that can be applied to the real world, and I'm always looking for real-world applications.
That's the main thing that keeps me in this space, working on projects and initiatives that are actually going to improve society, which is very likely in this space. Making sure that I'm constantly aligned with that.
I think the challenging part within the space is just determining ways that this can be something feasible long-term from a monetary standpoint. How do we actually make the applications and technologies that we're building being used by a lot of folks but also profitable so that they have staying power, which I think is still a challenge within this space.
I'm always going to be a true believer that there is an opportunity to change the way things are being done in our society today to ultimately create better equality and opportunity for folks. And I do think blockchain is a great solution for that.
What’s your hot take or unpopular opinion about permanent data?
I believe it's time we stop pitting Web2 against Web3 and now even introducing AI as a separate category. Why can't we all collaborate and build applications that encompass all three domains? This conversation is not happening often enough.
I'm a strong supporter of the AWS team, who are very encouraging when it comes to Web3's success. There are ample opportunities for us to work synergistically instead of creating unnecessary divisions. There's significant potential for standardization and setting data standards across the board.
The Bundler team recently published an article on data provenance and the provenance trilemma, which I highly recommend everyone to read. Furthermore, arweave team has introduced data licensing standards, an exciting development that can be applied across various spaces.
My hot take is, can't we strive to work better together instead of segregating into starkly different industries or groups, such as Web2, Web3, and AI? We have the potential to create super applications that encompass all these fields.
Regarding permanent data, it's interesting because many people tend to get intimidated by the concept. What they may not realize is that they can encrypt permanent data. I understand there are concerns about scalability, which is one reason why Bundler is valuable. It offers superior performance and efficiency in terms of storage costs. When you calculate the total cost of storing something meant to be forever, it turns out to be quite efficient, considering the break-even time.
So, I don't have any radical opinions on permanent storage, except that it's not as daunting as it may seem. People often fear the term 'permanent,' but these are my two main points.
Is there any person or company that’s inspiring you right now?
David Phelps, a dear friend whose depth of knowledge continually impresses me.
Speaking of injecting fun back into the world of crypto and Web3, there's a project called Joke, founded by David. They are all about running on-chain contests. They're running an online dating contest, featuring an eligible bachelorette and they're on the hunt for suitable bachelors.
As for individuals, I find those who are currently building consumer-facing applications to be particularly exciting. They're pushing the boundaries in terms of innovation. While infrastructure is undeniably crucial, we can't forget about the user experience. The Enso team, for instance, is doing fantastic work, led by a group of talented women who also make it enjoyable.
Another notable project is Boys Club, which operates as a DAO but focuses on real-world applications. And sound.xyz is another gem. They are working on bringing music and NFTs together, supporting artists in the process.
Outside of the crypto world, I have a fondness for reading The Paris Review and drawing inspiration from their essays and poetry. While I may not directly apply all of that knowledge to my day-to-day work, it serves as a valuable source of inspiration for me.
How can we stay in touch with you?
You can reach out to me on Twitter, and I'll definitely respond. You can also connect with me on LinkedIn, where you can find my email. My Telegram contact information is floating around somewhere as well, so feel free to reach out there if you prefer.
I genuinely enjoy connecting with people in the space. Regarding the Founder Residency program at Thesis*, you can follow Thesis* on Twitter. They are actively looking for exceptional talent, not just for the Founder Residency program but also for some of the companies they're launching.
As we continue to grow, we'll be hiring more people, so be sure to keep an eye on the jobs board within the Thesis team. Don't hesitate to reach out to me or someone like Matt Luongo, the founder of Thesis. I promise you, if you have a great idea and are inspired to build something impactful in the space, we'd love to hear from you
Have thoughts on this week’s topic or question for me or Amelia? Post your thoughts in the comment section. Until next week.🙂
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