The Ex-Stock Exchange Brain Behind Ethereum Blockchain

Anthony Di Iorio

In Episode #758, Nathan interviews Anthony Di Iorio. He’s a serial entrepreneur, venture capitalist, community organizer and thought leader in the field of digital currencies, blockchain technology, and decentralized technology. He’s the founder and CEO of Decentral and Jaxx and co-founder of the Ethereum project. He previously served as the chief digital officer of The Toronto Stock Exchange.

Famous Five:

  • Favorite Book? – The 7 Habits of Highly Effective People
  • What CEO do you follow? – N/A
  • Favorite online tool? — LastPass
  • How many hours of sleep do you get?— 6
  • If you could let your 20-year old self, know one thing, what would it be? – Anthony wished he didn’t waste his time in university

Time Stamped Show Notes:

  • 00:55 – Nathan introduces Anthony to the show
  • 01:38 – Anthony got into the industry in 2012 and thought that crypto was going to be more important than the internet
  • 01:57 – Before, there was disruption in the internet—now, you can send value without third parties getting involved
  • 02:21 – We’re now moving onto the age of the movement of value
  • 02:34 – Some third party disruptions come from banks and credit bank companies
    • 02:53 – You can remove third parties in the value chain and connect more individuals at a lower cost
  • 03:11 – With smart contract, you can now automate on blockchain and see a reduction cost
  • 03:38 – A blockchain is a ledger system or an accounting system that tracks entries using cryptographics
  • 04:20 – Digital currency didn’t work before because there was no technology for it
  • 04:48 – Since you can’t duplicate something digital, you can claim what is yours
  • 05:33 – Decentralized ledgers track what people are sending and receiving
    • 05:57 – The decentralized networks are replacing centralized services
  • 06:14 – Blockchain is the technology, bitcoin is the example of that technology
    • 06:22 – All cryptocurrencies have blockchains below them
    • 06:28 – Bitcoin is the first one to have its blockchain
    • 06:30 – Ethereum has a blockchain behind it
    • 06:39 – Blockchain makes the transactions visible and transparent
    • 06:50 – Blockchain provides trust between two individuals
  • 07:40 – Tokens are coins but are found on other platforms
    • 07:45 – Ethereum is a platform that is made to build other platforms on top of it
    • 07:51 – Ethereum provides the infrastructure layer
    • 08:05 – There are now tons of projects building coins on the ethereum platform
    • 08:38 – Bitcoin has its own coin while ethereum is like a product that incentivizes people to contribute to the network
    • 09:39 – Ethereum is like an SDK depending on the developers
  • 11:03 – Anthony had a talk with someone who’s in the cannabis industry
    • 11:06 – Anthony is creating a coin card system where you can buy any coin or currency in convenience stores
    • 11:18 – Banks don’t want to set up accounts for bitcoin companies because they’re scared
    • 11:47 – Anthony sees the same characteristics within the crypto space and cannabis space
  • 12:40 – Ethereum is from Decentral, the hub that Anthony made in 2013
  • 12:55 – Anthony sees people jumping to the crypto space without even researching
    • 13:15 – Look online before investing because scams are everywhere
    • 13:47 – Anything that states there’s a fixed return is fishy so you should seek advice
    • 14:03 – Do your due diligence
  • 14:39 – Decentral is the brand and Jaxx is the product
  • 14:48 – Anthony shares his initial experience with the industry
    • 15:13 – Anthony bootstrapped Etherium
    • 15:23 – Anthony left Etherium in 2015 to focus on the wallet space
    • 15:30 – Anthony realized that the wallet is the browser for the technology
    • 15:51 – The wallet contains the value of movement
    • 15:56 – Anthony developed a multi-chain, multi-platform digital wallet that enables managing and receipt of valuable digital assets
    • 16:23 –When you start your Jaxx, you’re creating a key for your transactions
    • 16:41 – You are in full control of your wallet
  • 16:55 – Jaxx makes money through integration partners like ShapeShift
    • 17:09 – Anthony made $60M from ShapeShift transactions
    • 17:50 – Jax just signed 70 partnerships in the space
  • 18:25 – The fund that Anthony used for Jaxx
  • 18:45 – Jaxx is currently profitable and made $150K last month
  • 19:03 – There are exchanges globally that enable you to buy and sell cryptocurrencies rather than wire transfers to your bank account
  • 19:13 – There’s also a bitcoin ATM and Anthony has it
  • 19:32 – Jaxx’s goal is to become the default interface that the masses can use to understand the power of blockchain
  • 21:46 – The Famous Five

3 Key Points:

  1. With cryptocurrencies, you can send value without the disruption of third parties.
  2. Do your due diligence—while cryptocurrency is a hot space for investors, the chances of getting scammed is also very high.
  3. The power of blockchain isn’t only beneficial for those who are already in the space, but for everyone.

Resources Mentioned:

  • Simplero – The easiest way to launch your own membership course like the big influencers do but at 1/10th the cost.
  • The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • GetLatka – Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
  • Klipfolio – Track your business performance across all departments for FREE
  • Hotjar – Nathan uses Hotjar to track what you’re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible
  • Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
  • Show Notes provided by Mallard Creatives