Nathaniel Luz came across digital currencies in 2016 and Dash in 2017, and since then has been a frequent speaker and supporter of crypto adoption across Africa. He is now considered one of Africa’s leading blockchain and digital currency experts.
In her chat with Technext, Luz recounts her experience in the cryptoverse after discovering the advantages of crypto trading over traditional currency systems.
Luz is a Product Manager at leading Web3 companies and author of Digital is the money book, an easy guide to understanding the past, present and future of money.
He says his journey started with “the wonders of cross-border remittances.”
The ability for someone from far away in the US to scan a barcode on my phone via Skype to receive payment was an exciting development for me, having seen the time and high transaction fees that systems cost traditional money transfer.
He was prompted to write Digital is the money because he discovered that there was a huge lack of knowledge in the crypto space.
“You can barely name a handful of books, videos, academies and the like where you can learn about digital currencies other than trading and how to make money. My desire to fill this knowledge gap led me to embark on an educational campaign to make digital money understandable in the simplest non-technical terms possible. This was the start of what is now the book “Digital is the Cash”.
Read also: How Munachi Ogueke Brought the Most Diverse Crypto Wallet, Yellow Card, to Africa
Why Product ManagementLuz?
One of Nathaniel Luz’s outstanding qualities is his commitment to creating easy-to-navigate, user-specific encryption products.
He maintains that he focused on product management”so that I can help companies create products that are easy to understand and use for the average user.
He adds that “we need to move from marketing the technical aspect of the product to marketing the use cases. We need to create simpler products. People have to use crypto without knowing that they are using crypto. People need to be able to understand, appreciate, and profit from using crypto and blockchain products.”
Luz says you can own value with Web3
Drawing on his experience building Web3 products, he believes the concept goes beyond simply contributing to the Internet.
“You can own value, you can transmit the value that is unique to you. This is going to mean a lot of changes and we are already seeing it – NFT, Metaverse, CBDC and CBDC are trying to be a copy of real crypto. But the most important thing Web3 does is let people know that value is subjective, what you call value depends on whether you choose to value it. That’s why someone can take a selfie, upload it to Opensea and sell it for a lot of money. »
30 years to full crypto adoption?
African governments are still hesitant to embrace crypto, citing issues such as easy conduits for corruption, but Luz says change is not comfortable to accept, especially in the initial stages. His view is that blockchain is still a nascent technology that should have more years to stabilize.
The technology is still early, I firmly believe that we expect too much from a young and emerging technology. Let’s give crypto the next thirty years. The attempt to build crypto lasted at least three decades before bitcoin was finally born. So maybe we should give bitcoin its first three decades before we can decide if people are embracing it as they should.
He adds that governments don’t really understand what economics is, “but time will tell, history has taught us never to fight against new innovations, especially not innovations supported by the Internet and young people.
Nathaniel Luz sees Africa playing a pivotal role in the crypto space in the near future and believes the continent can do better in terms of creation.
“…for now, Africa plays no role in terms of creation, just consumption. Africa is one of the largest crypto consumer bases in the world. When we talk about creators, we are talking about the West. They are the creators while we are the consumers. Unfortunately, this is the reality.
The future of Luz is literary
Nathaniel Luz has three books lined up, covering crypto and product management, to be released later this year. Wait for it!
If you would like to be featured in our Entrepreneur Spotlight, click here to share your startup story with us.