Deltec Interview with Margaret Chief Strategy and

Hey Miss Margaret, thank you for hopping on the podcast show. Um, so why don't you tell my audience about how you got involved with, uh, Dell tech and how you went from, from working with the law degree into banking. Sure. Well, uh, I have, when I graduated from law school back in 1997, I was involved immediately in the first real big tech revolution, um, that, uh,

A lot of, um, real interesting things happening. And so fast forward, I've continued to do global work, um, a lot of it is violent, lobbying finance. So work with banks over the years. So raising money for companies, M&A licensing. And as you get older and you've been doing this awhile, so 25 years in, you start to do a lot of strategic advice for companies back in

2015. Um, I had a client I was working with. They were a clinical research organization. And those are the companies that, um, do the drug trials for big pharma, um, little pharma, big pharma. Um, this was a company I worked with for a while. And they were, I often would be asked, come on in. We're looking at something different and new and join us. So, um,

brought in to look at kind of the risk, but also think through the strategy of how do we do this. Um, a lot of things. Well, and there was a blockchain technology company that was presenting to them. And it was about using a data blockchain in clinical trials to track the drug disbursements, the results. Um, uh, and I, and I, and I. Okay. This technology is

really interesting. Um, what it could do. You know, and also the time. I had them a lot of work with AI big data and all kinds of different technologies. And, this was sort of the missing piece that finally popped in. I said, we're going to have another tech revolution. Um, there's going to be, and, and now comes past Web 3, oh, um, when you bring all

of all of this together, the internet of things, also where telecom was going because telecom is an important part of this and, and the advancement in telecom. Um, so that was, that was 2015. Um, so I started working with a lot of operating companies that were looking for blockchain technology. Um, some startups just pure trying to figure out what to do with it. Some companies trying

to integrate blockchain technology into what they're existing operating company. Um, and the problem a lot of them were having was, um, thanks. Um, you know, and, and anytime something is new or what I call for, especially technology that's fringed, fringe technology. So that means the start of technologies always fringed. Um, so, um, so people question it. They need to understand it deeply before they adopt it.

How does it work? Uh, so this was the very, very fringe beginnings of blockchain coming out into, you know, it had been around for a bit, but it really coming out into the rest of the world. Um, we couldn't find banks, we find banks that would block, would, would bank these new startup companies that were forming, if they had anything to do with blockchain. Um, now

flashback to 1997, the same thing happened with internet companies. Silicon Valley bank arose during that time and became so successful because it recognized that and it embraced those innovators and trebles. Um, but very similar. For me, it was like, okay, this is just a weird flashback, the same things happening. Um, so, um, I, uh, I had, um, someone who had worked with, had, had moved over

to Deltech, uh, bank interest and was working there. And, uh, I, I was talking to him about this issue. And it, it just turned out, you know, and this was, this was around, and of 2016, beginning of 2017, 18, he, he said, well, it's really interesting because we're looking into this, um, new technology. So, and Deltech is a private bank, which is different than a retail

bank, retail back, like you're, you know, your, your, your, your, your bank of America or your local community bank that you go to and you have your check account. A private bank focuses on, um, um, creating really kind of bespoke, um, packages for customers. So that with corporates, you're working at, looking at, what can we do? This corporate is trying to do something, not, maybe they're

trying not to do something that's the regular thing. And let's customize it. Let's create what they need. Um, in addition, and that's on the, you know, kind of the commercial side. In addition, private banks also, um, focus on, um, high net worth individuals who are looking to have their, help with their, their money, money, money management, but they're also looking for what's the new asset classes

that are arising. They want to be involved in, in, you know, traditional, but they also want to get their toes into higher risk areas. And so Deltech bank had a combination of that at the time. Um, so I started steering client, that I was working with towards, towards Deltech bank. Um, and Deltech bank started growing. Um, I started representing them as their outside legal counsel in

2017 and worked with them on another number of things. Um, you know, closely with them, but watch them grow as they created Delchain, which was really one of the first OTC custodians of digital assets for people as another entity of them. As they created Rome. Which was the insurance company that is like the first insurance company to ensure crypto. Um, most insurance companies won't yet because

they follow something called an actual rare, actual, which is you wait till there's historic numbers to look at. And then you can figure out like predictably claims. So Rome actually takes a deep diligence approach, which you have to do with the emerging market. So, so that was created. So, so, um, this platform, for me was so interesting because it's not just with digital assets is everything

that they do. They do it in life sciences. We're doing a lot with carbon credit right now. They look at emerging markets and say, okay, what can we be doing to support? And these, these emerging markets are their new asset classes like carbon credits is another new asset class. Um, digital assets, you know, Goldman Sachs last summer called it officially a new asset class. First time

in like 30 years, I believe I, I'm, I'm, I'm not going to be able to do it. I'm probably way off on that. There's a report on it. But I know I remember like, wow, I have not, I can't remember ever hearing this. So that's a long way to the answer. Um, hope that. Yeah. The world gets you what you're asked at. The world is definitely

catching on to the potential with blockchain technology and crypto currencies is just how, how log change is basically getting themselves into healthcare, for an example, and visual. And then. So many other things that I can't think of right now, but just exciting time to see and where it's going to go for 10 years from now. I think you have exactly the right outlook on that. Um,

you know, watching how technology moves and is adopted. Um, I have this theory called fringe frontier familiar, right. Technology starts on the fringe with, with developers with people are saying, what can I do here? But the rest of the population says, ah, I don't know. Like when, when, when cloud cloud computing and SaaS first came out. And I was writing, you know, finance it up private

place memorandums for companies, right. And trying to scribe this and trying and working with them on trying to raise money. The investors, the people, they had to understand it so deeply because. Work up on our data up in this cloud. What does that mean? So you had to explain the technology or works now. Fast word. We all accept it, right. It's familiar. We don't question how

it works. If you walked up to 10 people, maybe, and none of them are developers, maybe one of them could actually explain, explain you the basics of it. But if you go back to 2001 to everybody had to know that's how fringe technology is because we as human beings, our minds as I really need to understand that right. Um, does everyone know how the car works

really not really that's 10. Yeah. Exactly. So, but at the time it first came out, you know, if you look back, it's really interesting to watch the adoption of technology. So it becomes familiar. We're at the beginning of the familiar stage, right. And you tend to see then in the familiar stages, when you see the bigger players come in and finance comes in. That's why you

saw the defi wave happening. Um, and they're exploring it. And obviously lots of focus on how can we make money with this have green finance for interesting the. And we're in that familiar stage, but still people want to understand that technology before, you know, if you've got 10 people, how many of them do you think actually own any digital assets? If you grab 10 random people,

I don't know if there's a survey on that sunny if you're aware of anything. I don't think so. And you know what I always go to the store and I ask you, are you guys accepting big. Yeah. I always shake my head. No, just like, all right. But you will mark my words. You. But if you go, if you go to Singapore or Tokyo, where you

tend, like countries where you tend to see technology adoption a little earlier. Um, you, I actually did this test. This was in 2019. I went to Tokyo and I was like, can I, can I spend the entire time there once I land, because planes weren't taking it yet. Just on Bitcoin. And I could. And this was 2019. And it wasn't too hard. It wasn't too hard

to find the hotels places to eat, you know, et cetera. The. So, so we're in that, but we're still in that familiar that the frontier stage, we're not yet in the familiar stage, we're in fringe frontier. I think it's the wrong frontier and familiar. And we'll get to in 10 years that familiar. Where this is all commonplace. You know, nobody knows how netflix streams to us.

Nobody knows how that cloud works to get it down to us in 10 years. That'll be blockchain technology that's doing it. Exactly. And it'll be faster and more latent. You can go to the mountains and you'll have your. Absolutely. And plus the reason like I wasn't really technologically inclined when it came to like working with this kind of stuff and blockchain kind of brought my curiosity

a bit and helped me explore and go down, go down deep radicals just. I wanted to. What was it about. What was it about blockchain that really grabs your curiosity. So, so there's this kid. He's probably well, he's an adult now, but back in 2017. I saw this TEDx talk and his name is Eric Fenman. And you, you may have heard of him. And so you

ended up dropping out of high school after making $100,000 in a Bitcoin. I was like, I'm thinking I'm in my early 20s. I was just thinking like, what am I doing in my life. And so I listen to Gary V. And Gary V was giving some advice about on podcasters in which what topics they should do when they start a podcast. And he's like, why don't

you start talking about Bitcoin's relatively new market. And I was like, you know what? That's a really good idea. And so ever since then, 2017 started a podcast, YouTube channel. And I still don't know. Everything that there is. So blockchain and cryptocurrency is just there's just so much to learn is just so hard to keep up with the evolving technology. Well, when I come to Florida,

I will sit with you and I'll do my red solo cup demonstration of how Bitcoin from a technology perspective works, which is, which is something I did at a party in like 2016 and everyone was like, oh, that's so straightforward. That makes sense. And so, and maybe because we were drinking as well. And the red solo cups were involved. Make sure it's down parion when you

come down. I'm more of a prone to kill a girl. Okay. Okay. I'll get you some. It sounds good. So what challenges has Delta faced with correspondents banks like like with sound risk. Sounds like Chris. You know what I mean? Yeah. So, so the great thing about Delta bank. It's been around for, so it's two or over 75 years. I always get the number slightly off.

And so it is highly regulated. We've got a banking regulator. We also have securities regulator because we have securities licenses. And we have a full on risk management function, a full on compliance function, a full on legal functions. I like, you know, you have three eyes, right? If you think about it, that are Carolina that I helped out with that. So, so, I'm intimately. I'm going

to be a really aware of how banks are regulated and manage risk. And also how regulators work in US, the Federal Reserve, or if your state charted bank, the state banks. What I was surprised in learning that when I started working with Delta in 2017 is actually I had a bias against banks that were in the Caribbean offshore banks, right? That offshore, you know, tax haven.

Well, that's, that's not what it's like at all. First of all, the hummus is not a tax haven. So it's not a tax benefit. You know, to as an individual to try to to shelter money here. But the banking regulator here is, I would say, more on top of things because I have to fight against that perception. So they are more engaged. They're with the banks

that are here. They are constantly, you know, if, if, if a slight negative media report comes out about any bank, they are calling it a bank. They're calling you that in it within a minute. And they work with you and they talk with you about the risk and, and they require a lot. So the banking, what I would say is I have found the Bahamas to

be one of the strictest areas for banking regulation overall. And I don't call it offshore. I call it, this is not me, but one of my chief commercial officer said this once. We're moving towards a no short banking regime. Where banking is not going to be situated. And you say it's a US bank. It's this banks actually have to be no short. They have to be

able to operate globally. Okay. Okay. Now, how is this bank? Are, how is this bank used for innovators? What steps should they take? Help us understand like people that are involved with business and getting involved with with banks are with cryptocurrencies. Sure. So, so in terms of, we, we really focus on helping businesses understand if you're in, in a disrupted industry, right. And, and I use

disruptive, not in a negative way. We're not like trying to shake things up just to shake things up. I think it have disrupted like how Amazon first disrupted, you know, bookstores and then created the concept of ecommerce and fulfillment. When you look at Netflix and how, you know, for, for me, I remember when my TV went to cable TV. So I'm showing my age, sunny a

little bit. But so it's it wants for me getting going from like five channels to cable TV was huge. Well, I just report, read a report yesterday that live streaming, like Netflix, Hulu, et cetera, has overtaken cable TV. And, and, you know, so, so you see these disruptions happen. We like to work with with folks who are thinking that way. And, and, and what we also

do is we like to work with them in a way where we're just not your, your financial services company, right. We have people who understand the industry really well that you might be in could be life sciences, could be now tech, could be carbon credits and or could be blockchain and crypto. And so, and then we come towards it with a mentality of helping to understand

you have to be agile in business, especially in blockchain. You know, when I say agile, what does that mean to you, sunny? What do you think of when I say agile? Someone needs a jill a business needs a jill of a coachable. Mm hmm. Coachable coachable. That's that's a huge part of it. It also means to me, we always say, you have to have the ability

to think and understand things quickly. Right. So, so in business. And, and you said it earlier, there's so much to learn blockchain, right. There's so much to inhale to understand. So, you have to have an ability to have that curiosity and desire to understand tremendous amount and think and understand quickly because every week. The industry is changing. Every week, there's something that is slightly changing something

new happening. But it's not just that. A business. You've probably seen this. You have people who can think really quickly and know what's coming. I have what I call my crypto ball where I try to figure out what's coming next, right. Which industry is going to be hit next by this. And I post a lot about this on Twitter. The. You've got to think and understand

quickly, but with with with technology and this is so much with blockchain, you have to be able to move quickly and easily you have to understand that. So, you know, the plan is really important to plan. It's really important if you're doing new initiatives, new businesses to to to make sure you understand what you're doing. But first mover is so important. Moving quickly is so important.

I'll give you an example of this. There's a company that I love. They're called infrared. And there are the technology. They're the major technology supplier behind content streaming, making it latent. That's why I was talking about. I learned about it earlier because I've learned a lot from them. and So one time so it is. It is founded by Chris and Rebecca Alan they're married. And they

were told. And they told me they're going out for K. Pow a K PA. I said, oh, That's great. You're gonna get a little break. And she goes. There is no vacation for startups. And I tell a lot of companies this all the time. You know, if you're looking to get rich quick, et cetera, you know, go be a, well, we used to call a day

trader, which in crypto is now a full, you know, it's 24 seven. If you do that, if you're looking to do that. Okay, if you're looking to start a company. And using blockchain technology, you have to know that there are no vacations for startups. It's great that you know Chris and Rebecca working together with us. Their company. It's actually worked out really well because they both

have that mentality. But you know, it's not necessarily the easiest thing it for having a family life or other things. Because it. Forming a business of any kind. Start up to emerging growth to min size, et cetera requires a tremendous amount of dedication. So so we talked to companies a lot about that. How can you be agile in this blockchain environment? You know, it's something we

discussed kind of around the virtual water cooler a lot. Okay, okay. And what does quantum have to do with banking though? Well, what does it go? Everything has to banking. So you should be using the word banking. And I'm gonna challenge that word. Right. Everybody needs a financial service advisor. Every every company, every industry needs it. You need financing. You need once you get money, you

need to know how to manage that money, right? A treasury function. So so banking. In my mind, when you say banking, it's putting my money in an account. And maybe it'll get you know, two, three percent. But I'm not really having a relationship much with that with that banker. I look at the future of banking or financial services should be like what should it be? And

you know, in the demographics of millennials and below where there's a craving for community. So quantum is an industry, right? There's there's there's that that's yet another industry where there's a lot of great technology coming in. To you. So so for the like merging together, though, in a way. Yes. Yes. And maybe they'll be merged together. I don't you know, just that's what we can spend

another three hours just on that topic alone. But here, like I think. What I find interesting is where will where will what you call banking be in 10 years? You know, because we see we see these things like Robinhood and Coinbase and all of that. But you know, think about what I call my what I call my dad's bank, which you would probably call your granddad's

bank. I'm not sure if I can do that. My dad had a, you know, a family owned business. He owned a deli connected our house every Saturday. I would go with my dad to the bank. You know, we could have that bag of. Rescached really in coins and we would deposit that and he stood down with the banker. My dad would dress up. I would wear

a dress. You were, you know, there was a certain almost paternalistic authoritarian approach to the bank, right at the time. And we try my dad trusted that the bankers were going to look out with that for him. They helped him get. They gave him advice on his business, right? Well, fast forward 2008 meltdown, you know, the millennial generation, which was in college at that time, watched

their parents lose their houses, lose their jobs, right? My parents fell victim to that. Yes. So you know what I'm talking about. So so now what's your relationship? What do you think of banks, the traditional banks? Do you trust those banks? And so so that's why I think we are. We are seeing a lot of disruption and decentralization move towards the financial systems because because maybe

you don't trust them, but I do think. It's not really you don't trust. I think what we have to look at is trust differently. What you have to do is is, you know, social community is so important for millennials and below. Look at collab land, which is out there, focus completely on social community, which is another great startup to not even start anywhere. They're wildly successful.

You know, interaction. We see metaverse. There's a desire to interact and trusting online with people. So I think fast forward. You know, are people going to have Robin Hood or what are they going to have 17 different things? Are they going to go to one platform? If we could create a space that creates a trusting relationship that works for for what the the demographics of the

these generations desire and we have to understand that that that's going to be. I do want. I do want there to be a place where people can trust again the financial the financial system. You're almost kind of making it sound like fun and mixing it with the game and kind of. Well, what do you think of that? Like I also wonder that. I mean, you don't

want your banker to play with you. Banker use that word, but you don't want your banker to play with you, right? Because you you want to feel like certain kind of like serenessness for your banker. But on the other hand, you want to help them to understand you. And I think it's more that like that's what we spend a lot of time on. You know, when

we're talking with like carving credit companies that we're working with. Really understanding what's driving them. What's their interest. And then communicating to them, three billion with them with the way they want. You know, does that mean I'm getting on the phone and talking them all the time. Where does that mean when they text me at two in the morning or you know what's that mean or

telegram me or just what it is that that I am on all those platforms and I'm response. So it's it's thinking about that sort of thing. Right, right. Now we're coming to a close here. And there you go. Is he dealing with some blockchain and having very important meetings. So last question. Any any last words that excite you about cryptocurrency before we come to a close.

Well, I'll go back to blockchain. And then you're going to have a lot of other technologies. Cryptocurrency is just something that's run on blockchain. The folk. The way you said earlier, something about like all the. You're interested in like where it's going with healthcare, et cetera, as technology moves from fringe to frontier familiar. And things develop. Around that technology, not just blockchain, but other other developments

happen. You're able to see it is it will go into all these other industries. And and it's going to. And then we're going to see the revolution. This is what I would say to everyone out there. Look around. We are in the midst of major changes happening and 10 15 years from now you'll look back like I look back at 97 to 2005 or so and

say I cannot believe all the differences and how the world operates. I do seem blockchain technology will break down borders. I do think we will have a global currency. I think this will lead to. You know, it will be what I find exciting about blockchain technologies. I think it will be what these two. The end of a lot of things we'd love to see end in

the world terrorism. Sex trafficking. You know, peace. This technology world peace. That's what we like. Yeah. And because a global digital currency, which is not too hard to think about when you think about not too long ago we were trading using silver and gold and before that stones. Okay, in our history. Fiat. Fiat isn't that old. It's not too difficult to think about that. And I

don't think it will. Here's my crypto ball. I don't think I hope in my lifetime I get to see a global currency that is not necessarily government. Backed. Okay. And we're coming close. We're coming close. Okay. Well, I thank you so much for coming on the show and keep doing what you're doing. And I hope to see. I can't wait to be up with you in

person. And I think we can talk for hours. I hope so too. All right. Have a good day. Bye. Bye. Thank you for tuning in the crypto kit podcast. I hope you enjoyed that episode as much as I did. And if you are filling generous, please help support my channel. You can become a monthly subscriber in the links down below. Or you can donate to my

Bitcoin wallet. Also in the link down below. Appreciate as much help as possible. And if I don't have a coin, listen on there that you like that your favorite. Let me know. And I'll put the wallet for that only on Coinbase though. Thank you so much. And hopefully you'll keep investing in cryptos and keep rocking the world and conquer everything that you can.