Easy Prey17 Tammi 2024

Advances in Crypto with Bam Azizi

There are so many things to learn about utilizing crypto, understanding the benefits as well as the benefits. It can be used to save time and money, but you need to be careful and only interact with reputable companies. Today's guest is Bam Azizi. Bam is a tech entrepreneur and the co-founder and CEO of Mesh, which provides FinTech companies with a seamless and secure one-click system for users to transfer their assets for deposit, payment, and payout. He previously founded No Password, a cybersecurity identity company acquired by LogMeIn in 2019.

Show Notes:

[0:53] - Bam shares his background and current endeavors with Mesh, of which he is co-founder and CEO.
[2:26] - Bam explains how he found himself working in FinTech with his background in cybersecurity.
[5:01] - You cannot educate every single user on the planet. People make mistakes all the time and there should be no shame about that.
[7:37] - Defense needs to get it right 100% of the time, but to move the scam forward, the scammer only needs to get it right once.
[11:01] - Security and compliance act like guardrails.
[12:30] - There are mechanisms in place that can protect users, but there are pitfalls and disadvantages.
[13:41] - Crypto is like any other type of data, but how it is stored is different.
[14:57] - Crypto is inherently secure, but transit becomes a problem.
[17:34] - Sometimes, you just don't know who you are sending money to or if the company receiving funds is legitimate.
[19:40] - Bam explains what happens when we initiate a transaction and try to rescind it.
[22:02] - We should be able to identify the people interacting with blockchain.
[23:40] - The industry wants crypto to be adopted world wide, but if that were to happen, some things need to be accepted.
[24:48] - The blame can't be placed on one entity.
[26:40] - One major benefit to crypto is global transfers.
[30:44] - There are a lot of moving pieces when it comes to crypto and you never actually see it. It's hard to think about in-transit security.
[33:30] - There is a huge pushback against crypto from banks and financial institutions.
[35:09] - Crypto has been demonized to some extent, but as a technology and the advances we will see in coming years, it's not inherently bad.
[37:34] - We can build practices and mechanisms that can prevent collapses.
[40:36] - There are some risks in using crypto but some risks are much bigger than others.

Thanks for joining us on Easy Prey. Be sure to subscribe to our podcast on iTunes and leave a nice review.

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