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Employment Law Today

Tuesday, April 19, 2022
19
Apr
Facebook Live Video from 2022/04/19 - Cryptocurrency and Blockchain: Positioning Your Business For Change.

 
Facebook Live Video from 2022/04/19 - Cryptocurrency and Blockchain: Positioning Your Business For Change.

 

2022/04/19 - Cryptocurrency and Blockchain: Positioning Your Business For Change.

[NEW EPISODE] Cryptocurrency and Blockchain: Positioning Your Business For Change.

The audience will learn about evolving digital assets, cryptocurrency, and new approaches to creating a workplace for employees and keeping up with customers' and clients' changing needs. 

The business world continues to evolve with digital assets, cryptocurrency, and new approaches to creating a workplace for employees and keeping up with customers' and clients' changing needs. As an employer, you may be wondering: what is changing around me, what do I need to know, and how do I set myself up to be relevant? How do I come up with new ideas for my business? 

Tune in to Employment Law Today on April 19, where our guest will be Stacy Robin, Founder of The Degania Group. Stacy is a skilled business strategist for corporate growth and success, and she will be addressing the above noted timely topic. 

Stacy Robin - The Degania Group. 

LinkedIn: https://www.linkedin.com/in/stacyrobin/ 

Twitter: https://twitter.com/DeganiaGroup 

Websites: www.deganiagroup.com (The Degania Group website)

www.cleversation.com (Cleversation website)

Tune in for this informative conversation at TalkRadio.nyc or watch the Facebook Livestream by Clicking Here.


Show Notes

Segment 1

Eric introduces his guest, Stacy Robin, Founder of The Degania Group, which ensures emerging and established companies remain responsive to change by identifying ways to grow a business and solve problems. Stacy says that she didn't have technological aspirations growing up. Early in her career, she ended up in the corporate world building electronic performance support systems. She also worked for a company where they moved paper based training, sales training, and customer support from hard copy manuals to more interactive training and support. Stacy founded The Degania Group because she knew a lot of people launching new ventures especially during the upcoming era of new technology who needed help. She has always enjoyed having an impact in helping others and their companies stay relevant and competitive. Eric also asks Stacy about what changes companies can face on a global or national level when it comes to cryptocurrency or Blockchain.

Segment 2

Eric and Stacy continue their discussion about bitcoin, cryptocurrency, and blockchain in businesses. Stacy says that blockchain, the distributed ledger technology, is where there is a lot of opportunity. She says that blockchain has created a trust network. Stacy also gives an example of a way she views the way blockchain can be used is by mentioning how Walmart is partnering with IBM’s hyper ledger fabric. Walmart has a ton of suppliers, so their network is complex. They created a network with IBM to help with traceability such as where consumers may be negatively affected by a food product for instance. Walmart took the time to understand this by first doing the mango experiment where they found out specifically where they were sourced from. With the hyper ledger tool that they created, they were able to find this out in 2.2 seconds instead of a week. These technological advancements like blockchain can create a power dynamic that is more equitable, accuracy, speed increases, and cost reduced.

Segment 3

Eric discusses with Stacy about some risks and downsides to adding cryptocurrency to their business models. Stacy says that now that there is more regulation with it, it can be a positive thing. There are a lot of tech groups working with lawmakers to help provide direction as law makers on their own may not have enough knowledge themselves to make regulations. She raises questions such as whether sports figures for example, should or can be paid half or full in digital assets or other ways transactions are made and whether these choices are legal. Eric makes a point that if an employer pays their employees’ overtime in Bitcoin, it won’t count as anything and that can be trouble for them. But he also says that they should also make sure that employees are compensated in full value whether it's overtime or minimum wage. They speak about the risks that businesses take, both positive and negative, and how something like bitcoin can create an impact in how business and finances are done.

Segment 4

Stacy talks about how businesses are acting in light of these changes with cryptocurrency and blockchain. She brings up a question for every business owner to think of. She says “are you going to drive change or are you going to respond to it?” She says that you also have to think about who your clients are and how they are changing, but also how your industry is changing. How are your customers changing in how they are accessing your services or paying for services? But also if you don't pay attention to this, how will it affect you? Stacy also makes a point that even if Bitcoin goes away, it has and will change the way commerce is done. You can connect with Stacy Robin through Linkedin where you can also find her business or visit deganiagroup.com.


Transcript

00:00:56.100 --> 00:01:03.510 Eric Sarver, Esq.: Good evening, welcome to employment law today i'm your host erick solver i'm an employment law and business law attorney.

00:01:03.810 --> 00:01:17.130 Eric Sarver, Esq.: And I host this live weekly talk radio show, and this live weekly video broadcast every Tuesday night from 5pm to 6pm Eastern standard time right here on talk radio nyc.

00:01:17.430 --> 00:01:25.440 Eric Sarver, Esq.: Where I have guests who discuss some of the most interesting and novel issues and impact employer and business owners like we discuss.

00:01:25.860 --> 00:01:46.020 Eric Sarver, Esq.: issues around law around commerce around trends and changes out there, and so, in this spirit i'm very happy tonight to have as my encore guest, who was here back in January of 2021 back on the show tonight, our very own miss Stacy Robin Stacy welcome to the show.

00:01:46.440 --> 00:01:48.600 Stacy Robin: Thank you so much for inviting me back Eric.

00:01:49.440 --> 00:01:53.550 Eric Sarver, Esq.: you're welcome you're welcome it's great to have you back on the show again, I think we had an interesting.

00:01:54.300 --> 00:02:04.890 Eric Sarver, Esq.: lively discussion last time you were here so i'm happy to have you back for this interesting topic which i'm going to introduce now and then we'll turn to a bit more proper introduction of you and who you are.

00:02:05.550 --> 00:02:16.020 Eric Sarver, Esq.: So our topic tonight folks is cryptocurrency and blockchain positioning your business for change it's an interesting thing topic in today's.

00:02:16.830 --> 00:02:21.240 Eric Sarver, Esq.: Climate and really what we're talking about with this topic is that.

00:02:21.930 --> 00:02:33.180 Eric Sarver, Esq.: In the business world as it continues to evolve with digital assets of cryptocurrency blockchain a new approach is creating a workplace for employers.

00:02:33.540 --> 00:02:42.000 Eric Sarver, Esq.: and keeping up with customers and clients changing needs the question becomes as an employer, you may be wondering what is changing around me.

00:02:42.420 --> 00:02:52.560 Eric Sarver, Esq.: What do I need to know how do I set myself up to be relevant and how do I produce new ideas for my business and a lot of this again is in the context of.

00:02:52.860 --> 00:03:02.550 Eric Sarver, Esq.: Technology and technological changes such as with cryptocurrency and blockchain but also the other technologies as well, which station, I will discuss tonight.

00:03:02.820 --> 00:03:18.900 Eric Sarver, Esq.: So my guess is evenings at Robin is a strategic worth catalyst and founder of the design, your group and we're discussing this timely topic, but before we get to those questions they see I think it's just nice to introduce you, if I may, to our audience of listeners.

00:03:20.460 --> 00:03:27.360 Eric Sarver, Esq.: Go ahead all right here we go, so, as I mentioned folks have our guest tonight is a miss Stacy Robin.

00:03:27.810 --> 00:03:42.180 Eric Sarver, Esq.: Stacey has nearly 25 years of experience catalyzing corporate and professional growth, she founded the digger new group in 2003 two position emerging and established companies for growth for sale and for investment.

00:03:43.200 --> 00:03:49.950 Eric Sarver, Esq.: Safety focuses on enabling people and organizations to prepare for embrace and drive change.

00:03:50.250 --> 00:04:06.240 Eric Sarver, Esq.: She has a special interest in how emerging technologies and related global and regulatory developments impact the way we work, communicate share information and fundamentally transform the way that we conduct business.

00:04:06.720 --> 00:04:15.750 Eric Sarver, Esq.: And structure organizations Stacey has educated entrepreneurs and corporate leaders at nyu and then pepperdine university is MBA Program.

00:04:16.050 --> 00:04:27.030 Eric Sarver, Esq.: As well as a rutgers Business School Center for urban entrepreneurship and economic development and so with that again Stacy it's great to have you on and welcome back to the show.

00:04:27.900 --> 00:04:28.350 Eric Sarver, Esq.: And then.

00:04:29.070 --> 00:04:31.440 Stacy Robin: it's an exciting topic, at least in my opinion.

00:04:31.860 --> 00:04:39.510 Eric Sarver, Esq.: I tend to agree as well, and I think no better person to discuss it, the night, in my opinion, and then you i've heard you talk about these topics, the passion.

00:04:41.040 --> 00:04:56.220 Eric Sarver, Esq.: Maybe get to our graphic first question, which is, I think, to get people to know more about you just you could tell us a little bit more about yourself mainly how did your career initially started out and then will prompt you to found the designer.

00:04:58.380 --> 00:05:00.510 Stacy Robin: that's an interesting question considering where I wound up.

00:05:01.740 --> 00:05:11.100 Stacy Robin: I did not have technological aspirations, but I was a technophile growing up so started, I was very lucky back in 1984.

00:05:11.460 --> 00:05:21.570 Stacy Robin: I got my first personal computer I had been programming Commodore 64 and I got an apple to see, and I was lucky enough to get access to come to serve and a modem and.

00:05:22.440 --> 00:05:31.320 Stacy Robin: Even though I wasn't planning on it, I wound up in the mid 1990s in the corporate world building electronic performance support systems for fortune 500 companies.

00:05:31.740 --> 00:05:39.180 Stacy Robin: So this was a time when you still needed to design mouse tutorials because most people didn't understand what a mouse was.

00:05:39.720 --> 00:05:56.940 Stacy Robin: And after several years I left that company to move to Xerox where I was working on products that were moving paper based training sales training customer support from you know just hard copy manuals that used to sit on shelves and gather dust.

00:05:57.150 --> 00:06:06.390 Stacy Robin: You more interactive training interactive support context sensitive help, and I also saw the tools we were using to design the programs.

00:06:07.110 --> 00:06:19.260 Stacy Robin: They force change on everybody working there because suddenly they couldn't support these products, the same way, they couldn't write the manuals the same way, they had to learn new programs new software they had to think differently about how people were going to access it.

00:06:20.280 --> 00:06:30.690 Stacy Robin: So, as you know, I was always interested in the corporate initiatives in the people being affected and as a non technical leader, how do we even stay current.

00:06:31.020 --> 00:06:39.840 Stacy Robin: yeah so I I later found the dig on your group, because I knew a lot of people wanting new ventures, especially during the techies who.

00:06:40.680 --> 00:06:47.760 Stacy Robin: Who needed help you know they they knew what they could do, but they didn't know necessarily how to run grow build a business and.

00:06:48.540 --> 00:07:03.270 Stacy Robin: I somehow enjoyed helping them and decided to expand my my impact and see if I could could support other people and staying relevant staying competitive how to grow, a company and all of the issues that come along with that.

00:07:04.050 --> 00:07:08.940 Eric Sarver, Esq.: hmm interesting yeah I hear you about that you know it's interesting it's like to me that.

00:07:09.900 --> 00:07:18.660 Eric Sarver, Esq.: The way so much of what we do my start in childhood, even though at the time we may not have known this is going to be perhaps planting a seed.

00:07:18.900 --> 00:07:28.530 Eric Sarver, Esq.: But that early technology that you had, and I remember those days of the Commodore 64 if I can take myself as a member 1984 quite well so as a kid as a child think so.

00:07:29.010 --> 00:07:33.720 Eric Sarver, Esq.: But then of course the MID 90s, the technology and I found that when you're doing tech.

00:07:34.110 --> 00:07:41.700 Eric Sarver, Esq.: Work or some kind of new work is always a teaching moment, and then I heard you say that you have people you knew who were starting businesses and.

00:07:42.090 --> 00:07:56.790 Eric Sarver, Esq.: You want to help them with the I guess the leadership adopting so interesting to hear that technology is always back in your in your history, and thank you again for reminding me about those old those, these are the MoDem and the dialogue.

00:07:56.820 --> 00:08:13.560 Eric Sarver, Esq.: And the crunchy so a lot of our maybe family member colleagues might not quite recall if you listening tonight, but but that's great street, I think, just to have that background, and then you know when we think about it, say, where we are today fast forward from the 24th 2022.

00:08:14.760 --> 00:08:31.800 Eric Sarver, Esq.: It takes me into my next question I segue there, which is, as you say, as easy as digital assets like cryptocurrency and blockchain as they become more prevalent what changes in companies expect when they operate on a global or national level.

00:08:32.790 --> 00:08:40.290 Stacy Robin: that's a great question I especially having seen different different eras of technology emerge.

00:08:41.250 --> 00:08:53.940 Stacy Robin: I think what we can first expect is that the rate of adoption has sped up so it's not only how quickly things changing and new things come out, but how quickly, people are adapting to them, of how they're adopting them.

00:08:54.300 --> 00:09:03.270 Stacy Robin: But what we also start to see is as these technologies come out so people might have first heard about bitcoin and blockchain with.

00:09:03.930 --> 00:09:15.450 Stacy Robin: You know, all these subversive stories about you know the issues around silk road, which was this you know black market place using crypto and that was really I think when people.

00:09:15.870 --> 00:09:20.130 Stacy Robin: got to know some of the terms on so they immediately think of.

00:09:20.670 --> 00:09:32.280 Stacy Robin: bitcoin and blockchain together they don't separate the two they don't understand the difference, and then they only understand uses associated with what they hear in the news right oh someone stole.

00:09:32.550 --> 00:09:39.930 Stacy Robin: X amount of bitcoin it's all financial related and what people don't necessarily understand is what changes over time.

00:09:40.590 --> 00:09:48.330 Stacy Robin: is how we're able to understand the potential of these technologies, because if we've never seen it before if we've never tried using it before.

00:09:48.660 --> 00:09:56.040 Stacy Robin: How do we know what it can do and the example I love to give is that of the desktop computer right when.

00:09:56.520 --> 00:10:00.390 Stacy Robin: When I started using my computer right, but there were things like print shop or.

00:10:00.870 --> 00:10:13.350 Stacy Robin: apple works which was a word processor, and so people saw it beast be related to the things they already know right Oh, this is a really cool calculator or really cool typewriter or even like a souped up word processor, I can.

00:10:14.100 --> 00:10:22.770 Stacy Robin: Make pictures on here, but the opportunity to leverage it to change the way we share information, the way we communicate.

00:10:23.070 --> 00:10:36.090 Stacy Robin: Right people had no idea what could happen with it, that we would turn these powerful computers into phones that we no longer uses phones, but as computers as different types of communication devices, information exchange devices.

00:10:36.840 --> 00:10:41.790 Stacy Robin: So I think we're just at the precipice, of a lot of these technologies that have been around for a while.

00:10:42.810 --> 00:10:54.060 Stacy Robin: But blockchain which, for example, is just a form of distributed ledger technology and we're starting to hear terms like decentralization, so how is that going to change things.

00:10:54.330 --> 00:11:08.520 Stacy Robin: we're starting to see well how do you work without a middleman How does that affect you know our governments our global collaboration How does that allow greater collaboration and these terms called co op petition for.

00:11:08.610 --> 00:11:10.560 Stacy Robin: One income competitors.

00:11:11.160 --> 00:11:15.300 Stacy Robin: Still we're just starting to see the impact in so many different.

00:11:16.020 --> 00:11:17.760 Stacy Robin: In so many different ways.

00:11:19.050 --> 00:11:25.590 Eric Sarver, Esq.: yeah that's really interesting to it, I mean the thing that you said, one thing you were shocked me CC we talked about a moment ago.

00:11:26.190 --> 00:11:39.510 Eric Sarver, Esq.: How people tend to associate technology and new technology was either something to hear about it in the news or how they relate to what they already know so like the example of course the computer is back when they came out related to.

00:11:39.930 --> 00:11:44.550 Eric Sarver, Esq.: It as a writer or it's a graphic design or it's a video game, perhaps a console.

00:11:45.630 --> 00:11:52.770 Eric Sarver, Esq.: And also, I think that's interesting because, as people start to change their might have any more uses that they can discover.

00:11:53.070 --> 00:11:58.980 Eric Sarver, Esq.: But I also heard you say that people were you know associating bitcoin and cryptocurrencies with.

00:11:59.400 --> 00:12:07.830 Eric Sarver, Esq.: This sort of illicit things you read in the news like just some road and those kind of insights and so forth, and I think that to me, I wonder if that's.

00:12:08.100 --> 00:12:20.610 Eric Sarver, Esq.: Maybe what it contributes to people's fear of technology that they they don't always hear the good things about it, they hear like saying House you know being misused or use for illicit purposes.

00:12:21.690 --> 00:12:26.820 Eric Sarver, Esq.: Such kind of straight to me, of course, and then talking about you know co op petition i've heard that phrase more and more.

00:12:27.150 --> 00:12:37.410 Eric Sarver, Esq.: When I first saw that written somewhere, there was a typo I thought oh sloppy editor that's best a back and said wait look at the context here thing right, you can kind of cooperate slash compete with your.

00:12:38.520 --> 00:12:41.670 Eric Sarver, Esq.: So interesting to hear all that from your perspective.

00:12:43.140 --> 00:12:48.420 Eric Sarver, Esq.: yeah it's wanted to kind of note that you know, in terms of what you're saying and.

00:12:49.710 --> 00:12:59.580 Eric Sarver, Esq.: I think, also can you speak a little bit more about the centralized versus decentralized processes and how that might be connected to see an evolving workplace or cryptocurrency.

00:13:00.240 --> 00:13:03.690 Stacy Robin: um Well, I can say that decentralized takes out the middleman.

00:13:04.080 --> 00:13:11.430 Stacy Robin: So there's some pushback from some entities that have their role as the middleman, just as the middle manager.

00:13:12.390 --> 00:13:19.560 Stacy Robin: In when we saw a lot of reengineering in the 80s when companies no longer had a need for middle management to.

00:13:20.040 --> 00:13:31.950 Stacy Robin: to monitor the flow or to maintain the flow of information, their roles had to change so right now we're seeing decentralization and a number of ways, on both positive and negative.

00:13:32.820 --> 00:13:40.830 Stacy Robin: And there's a lot of applications of that that we can start thinking about how will that impact, all of these different.

00:13:41.850 --> 00:13:58.950 Stacy Robin: All the different industries we're already starting to see it with web 3.0 right web two point O even web one point O was based on centralized centralized organization right or centralized approval or centralized permission or centralized.

00:14:00.390 --> 00:14:18.630 Stacy Robin: There was a central authority best way to put it, and and now with web 3.0 we're suddenly seeing a proliferation of decentralized opportunities and applications, and I think that anybody who says they are a web 3.0 expert.

00:14:19.320 --> 00:14:22.950 Stacy Robin: should be questioned, because I don't think it's been around long enough.

00:14:23.820 --> 00:14:26.340 Stacy Robin: Much like some of these other technologies it's like.

00:14:27.450 --> 00:14:39.420 Stacy Robin: People calling themselves blockchain experts, you know as soon as it comes out it's difficult and we really don't know how it's going to evolve and mesh with existing structures that are dependent on centralization.

00:14:40.200 --> 00:14:45.600 Eric Sarver, Esq.: Thank you for that I really appreciate your clarifying that point for our listeners, and with that no we actually.

00:14:46.230 --> 00:14:52.980 Eric Sarver, Esq.: Believe it or not, sad when I very first commercial breaks I just let everyone know that you're watching and or listening to you.

00:14:53.280 --> 00:15:05.610 Eric Sarver, Esq.: Talk radio nyc watching employment law today i'm your host erick solver employment law business lots or any my guest tonight and Miss Stacy Robin founder of the design, your group when we come back we'll talk more about.

00:15:05.970 --> 00:15:16.110 Eric Sarver, Esq.: Some of the most promising aspects of bitcoin and cryptocurrencies for companies and later the evolving workplace so stick around for interesting conversation will be right back.

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00:17:30.150 --> 00:17:38.910 Eric Sarver, Esq.: Welcome back to implement a lot today, I mean host Eric cyber my guest tonight miss Stacy Robin Stacy is a catalyst for corporate and professional growth.

00:17:39.300 --> 00:17:46.140 Eric Sarver, Esq.: Through her company or firm the design, your group and we're talking tonight and I rather didn't get the title when I.

00:17:46.530 --> 00:17:57.480 Eric Sarver, Esq.: introduce our topic which is cryptocurrency blockchain think positioning of business for change and growth, I think it's important to note that these emerging new technologies.

00:17:58.290 --> 00:18:07.380 Eric Sarver, Esq.: can create all kinds of interesting issues, but if studied and applied and if a company goes through the trial and error of change.

00:18:07.860 --> 00:18:17.100 Eric Sarver, Esq.: With this, the digital assets and cryptocurrency that could be a lot of benefits and a lot of ways in which we can open up new ways of doing business that I think.

00:18:17.610 --> 00:18:35.820 Eric Sarver, Esq.: Corporations haven't seen in decades prior so you know with that PC I want to ask you a question which is about promise I wondering like which new ways of doing business appear most promising for companies in light of the evolving workplace and the prevalence of cryptocurrencies.

00:18:36.810 --> 00:18:45.330 Stacy Robin: I would say it's not just crypto currencies, but on the blockchain or the display on the distributed ledger technology, the deal, to which.

00:18:45.720 --> 00:18:56.370 Stacy Robin: They are they are beast because That to me is where there's a lot of opportunity, so I mean this is an issue that I mean you hear about game theory right it's.

00:18:57.180 --> 00:19:08.340 Stacy Robin: The Byzantine generals problem or issue if you've ever heard of game theory or that issue and it's basically if all of these generals are let's say surrounding.

00:19:08.940 --> 00:19:16.560 Stacy Robin: A city for which they want to attack and the only way for them to attack is for one general to make a call about you know this.

00:19:17.280 --> 00:19:24.270 Stacy Robin: Like perfectly coordinated attack at exactly the same time and now all of their generals are stationed in so many different areas.

00:19:24.600 --> 00:19:35.460 Stacy Robin: How do you ensure that the information is accurate that gets to all of your generals, because there is, you know you can't necessarily trust the people communicating that.

00:19:35.790 --> 00:19:43.080 Stacy Robin: And that's what blockchain did, is it solved for that problem is it created that trust network because right that.

00:19:43.950 --> 00:20:00.600 Stacy Robin: And that allowed so many things to happen when people started looking at it, as I have this decentralized network of organizations people issues that I have to pull together in a trusted fashion, so one of the most interesting.

00:20:02.250 --> 00:20:07.740 Stacy Robin: A newsworthy ways I like to look at another use for blockchain besides just.

00:20:09.600 --> 00:20:16.260 Stacy Robin: Besides just financial is walmart's walmart's partnering with IBM hyper ledger fabric.

00:20:16.620 --> 00:20:27.150 Stacy Robin: And they had the mango experiment so walmart has all of these suppliers and it's really not the supply chain it doesn't work as neatly is that it's kind of this.

00:20:27.510 --> 00:20:38.910 Stacy Robin: You know mess of a network, and you have farmers and and you know there's there's so many people involved, but they created this network with IBM this blockchain to.

00:20:39.870 --> 00:20:55.410 Stacy Robin: To help with traceability, because if you get sick from something and they identify that spinach is making people sick well where did that spinach come from and because it's only a guess at first, they have it actually impacts, a number of people on that team.

00:20:55.710 --> 00:21:04.260 Stacy Robin: all the way down to these local farmers and it impacts, the number of people that can get sick, so they needed a good traceability solution.

00:21:04.590 --> 00:21:12.270 Stacy Robin: And the they implemented this I think they started building it in 2016 and they were able to test it in 2017 and they.

00:21:12.450 --> 00:21:19.110 Stacy Robin: said Okay, we have these mangoes in front of us and we're going to say we just identified that they're making people sick.

00:21:19.860 --> 00:21:32.850 Stacy Robin: You need to find out where they were sourced from and specifically where they were sourced from so in the traditional method, they would use just to figure that out, it took seven days to identify where they came from.

00:21:33.360 --> 00:21:42.300 Stacy Robin: Seven days with blockchain what not blocked him with the hyper ledger tool that they created, it was down to 2.2 seconds.

00:21:42.690 --> 00:21:58.440 Stacy Robin: wow so think about the opportunity that presents yeah and it's this immutable record so there's applications where provenance, much like we're food originated from comes into play in art.

00:21:59.310 --> 00:22:15.240 Stacy Robin: things about history, you know people can record history in an immutable fashion, so that it can't get corrupted over time, so there are applications in so many ways, and when you start thinking about businesses, think about real estate transactions.

00:22:15.360 --> 00:22:16.500 Stacy Robin: hmm now.

00:22:17.010 --> 00:22:18.480 Stacy Robin: Think about title insurance.

00:22:18.750 --> 00:22:19.710 Stacy Robin: Think about.

00:22:20.070 --> 00:22:27.360 Stacy Robin: Financing think about countries where there's high levels of corruption and people can't get paid, but if you put.

00:22:27.630 --> 00:22:45.630 Stacy Robin: A smart contract in place right in and gets executed automatically rather than people having to go through issues of bribery to get paid for major contracts so there's this link as well to what actually started back with the crowdfunding movement.

00:22:45.870 --> 00:22:47.970 Stacy Robin: to democratize finance.

00:22:48.240 --> 00:23:09.660 Stacy Robin: And we were talking about decentralization before and define or decentralized finance is taking those major players away from being barriers to access to finance or controlling finance and one of the big plays of blockchain is decentralizing finance and financial operations.

00:23:10.350 --> 00:23:19.110 Eric Sarver, Esq.: So it's like it can, I think what i'm hearing is that the blockchain these other technologies can serve in lot of ways, it can service to almost.

00:23:20.580 --> 00:23:33.150 Eric Sarver, Esq.: To make the power as dynamic more equitable and that you're breaking down like to them about the barriers, I should say that are often you know the large global corporations have banks might have around money.

00:23:33.630 --> 00:23:38.760 Eric Sarver, Esq.: I hear about accuracy being increase in speed as well, which of course comes in handy.

00:23:38.820 --> 00:23:39.840 Stacy Robin: That may have just.

00:23:39.900 --> 00:23:41.460 Eric Sarver, Esq.: Reduced i'm sorry.

00:23:41.760 --> 00:23:43.650 Stacy Robin: And costs reduced.

00:23:43.740 --> 00:23:49.860 Eric Sarver, Esq.: Right accuracy increase speed increase costs we do things like a win, win, win, win on all sides they're.

00:23:50.190 --> 00:23:59.430 Eric Sarver, Esq.: fascinating I that mango story to it, cut down 2.2 seconds I think you know those stories these you know you i've heard you speak before, and you have a great way of like.

00:23:59.760 --> 00:24:04.650 Eric Sarver, Esq.: Taking a story that people can relate to a walmart and mangoes and and sourcing fruit where to come from.

00:24:05.010 --> 00:24:13.770 Eric Sarver, Esq.: And kind of like you know, putting it in those concrete terms, so that abstract concepts such as bitcoin theory don't seem silly head in the clouds so.

00:24:14.310 --> 00:24:21.600 Eric Sarver, Esq.: I think it's like you know great to hear that how decentralize and democratize I like that for trade finance.

00:24:22.500 --> 00:24:36.300 Eric Sarver, Esq.: yeah I see definitely promising there for companies, if there was all kinds of things you mentioned real estate even, I wonder if it's not in the process of loans will be back and forth between companies interest interest loans and external loans.

00:24:36.300 --> 00:24:48.180 Stacy Robin: Oh yeah that's actually an interesting point when you talk about speed and taking out middlemen so when you think about companies that build products right and they sell widgets or gadgets.

00:24:48.540 --> 00:25:02.490 Stacy Robin: Right and they're selling let's say you have a small company that's selling to a local store and suddenly they get picked up by a major distributor that has a need for an exorbitant amount of whatever widgets they're building.

00:25:02.820 --> 00:25:05.160 Stacy Robin: Generally speaking, most small businesses.

00:25:05.190 --> 00:25:14.520 Stacy Robin: don't have the capital in place to finance the production of the amount they need to get that to for the initial order.

00:25:14.850 --> 00:25:16.290 Stacy Robin: And so they wind up.

00:25:16.500 --> 00:25:20.370 Stacy Robin: Creating bad deals right they rush into.

00:25:21.030 --> 00:25:28.770 Stacy Robin: venture capital private equity money or they rushed into factoring or they rush into deals with that that they don't completely understand and i'm not saying.

00:25:28.980 --> 00:25:37.080 Stacy Robin: Any of the people on the other side are necessarily bad actors it's just the deals get structured poorly because there's a rush to get the capital.

00:25:37.620 --> 00:25:50.970 Stacy Robin: So what happens is, if you talk about blockchain speeding up transactions or smart contracts that can execute once there is once something gets done by certain players.

00:25:51.210 --> 00:25:52.410 Stacy Robin: So let's say.

00:25:52.470 --> 00:26:03.750 Stacy Robin: Normally now you'd have that company building their widgets so they'd have to pay the factory or the production facility, whatever it is, and they'd have to pay for the raw materials, the actual.

00:26:04.050 --> 00:26:13.200 Stacy Robin: Building of whatever they're providing then that that they have to pay the factory or the production facility upfront then they have to wait for it to be made.

00:26:13.380 --> 00:26:14.460 Stacy Robin: Then they have to wait.

00:26:14.460 --> 00:26:21.780 Stacy Robin: For it to be shipped received and then there's a turnaround time on time on payment, particularly from larger organizations.

00:26:22.140 --> 00:26:32.340 Stacy Robin: That can be a very long process which requires that bridge financing that can be brutal for some of these small companies, especially when their profit margins aren't very big.

00:26:32.670 --> 00:26:32.940 Right.

00:26:34.200 --> 00:26:40.860 Stacy Robin: eat up that process so that once those products are built and shipped.

00:26:41.010 --> 00:26:42.090 Stacy Robin: Once that shipping.

00:26:42.090 --> 00:26:45.990 Stacy Robin: occurs let's say some of these companies now agreed to take on.

00:26:46.800 --> 00:26:52.800 Stacy Robin: Payment as soon as the they they know the product has been built it's been shipped it's on their way to them.

00:26:53.130 --> 00:27:10.230 Stacy Robin: That can minimize the time that that small business may have to float that amount of cash, which may now make it more possible, it may be a possibility for them to use credit cards or short term, you know equity and some I have no idea exactly how they would do it, but.

00:27:10.440 --> 00:27:12.000 Stacy Robin: It gives them more options.

00:27:12.030 --> 00:27:27.990 Stacy Robin: Because the timeframe, has now been shortened and the the company that's receiving those goods also has some proof that the work has been done, that the shipment has been made that they're not relying on you know all of these other networks to inform them.

00:27:28.590 --> 00:27:34.710 Eric Sarver, Esq.: yeah it's like you know, think about this, the application of that, especially because I know how many smaller businesses.

00:27:35.100 --> 00:27:47.310 Eric Sarver, Esq.: can suffer with like say you know kind of a Catholic crisis or revenue issues while awaiting payment from you know their consumers from their clients or from the third parties and such so.

00:27:48.450 --> 00:27:53.790 Eric Sarver, Esq.: I think, as you excellent point there it's just all these sort of work and pieces can get just.

00:27:54.750 --> 00:27:58.920 Eric Sarver, Esq.: More efficient right now just more smoothly flowing in some sense.

00:27:59.400 --> 00:28:05.700 Eric Sarver, Esq.: And that's interesting to you it's you know it's almost like the ripple effect because does that change how often.

00:28:05.940 --> 00:28:14.400 Eric Sarver, Esq.: A small businesses may need to go for extra financing if they have more cash on hand more readily and then can they actually afford to do more things.

00:28:14.910 --> 00:28:21.630 Eric Sarver, Esq.: Right now, that it couldn't do a total own came in to that, then increase production, which, by increasing say make the payment on that production.

00:28:21.930 --> 00:28:34.620 Eric Sarver, Esq.: Then you can use our prophet the hardware people so it's I think it's interesting Stacey that you know you bring up this overarching theme about this again increase efficiency accuracy interest and then the flow of money.

00:28:34.980 --> 00:28:40.500 Eric Sarver, Esq.: Right, the decentralizing focus and flow of money and finance through businesses hands.

00:28:41.220 --> 00:28:41.820 Stacy Robin: And that's just.

00:28:42.330 --> 00:28:51.750 Stacy Robin: i'm not sure it'll ever wind up working that way but that's an example, just like you can see, the increase in token ization and that's showing up in.

00:28:52.260 --> 00:29:04.440 Stacy Robin: Everything from celebrity contracts you real estate and there's really interesting opportunities to discuss in real estate when you think about the ability to give people a share.

00:29:04.890 --> 00:29:06.930 Stacy Robin: In something that you own.

00:29:07.380 --> 00:29:08.670 Stacy Robin: Right, whether that's.

00:29:09.210 --> 00:29:12.120 Stacy Robin: You know, access to a sports players contract with a team.

00:29:12.420 --> 00:29:27.720 Stacy Robin: to your home, and when you token is something like your home, does that mean that individuals may no longer need to go to traditional outlets like mortgage brokers more mortgage banks to access the equity in their home.

00:29:29.430 --> 00:29:36.420 Eric Sarver, Esq.: And then, of course, what does that does that create I wonder when you say that wondering now that create sort of a push back.

00:29:36.750 --> 00:29:44.970 Eric Sarver, Esq.: A resistance to this change by as a some of the old guard know of the mortgage brokers much as we've seen in history when there have been some.

00:29:45.450 --> 00:29:52.110 Eric Sarver, Esq.: Huge technological jumps advancement there's a pushback from the old you read the old guard, you know when you when you talk about.

00:29:52.800 --> 00:30:02.220 Eric Sarver, Esq.: General Motors and auto industry automobile builders back in the 80s when more and more I think job for autumn eyes are automated through automation.

00:30:02.580 --> 00:30:16.830 Eric Sarver, Esq.: And people will push back, but then you know, is the process streamline does the ultimate cost of the cargo down and does that create say work today for that car company that growth and then we hired people down the road, so I just.

00:30:17.220 --> 00:30:24.540 Stacy Robin: And these are just potential, I mean the details of it, working from the technology to the regulation to bad actors involved.

00:30:25.260 --> 00:30:26.430 Stacy Robin: it's all up in the air.

00:30:26.760 --> 00:30:30.090 Stacy Robin: But possibilities of where things like this can go.

00:30:30.630 --> 00:30:35.460 Eric Sarver, Esq.: wow well that's great I mean, I think you really and that's a good word of caution that you know this is like sort of a.

00:30:35.880 --> 00:30:45.960 Eric Sarver, Esq.: semi theoretical with someone where things could go in the best case scenarios, but that's great talking about that kind of promise, and you know it's a nice sort of segue in a breaking point for our.

00:30:46.830 --> 00:30:55.410 Eric Sarver, Esq.: midway commercial breaks so i'll just say that we're taking a break now but i'm Eric sorry host employment law today, and my guest he Robin that you're gonna.

00:30:56.520 --> 00:31:08.490 Eric Sarver, Esq.: Stick stick around from one that's great conversation we're talking cryptocurrency blockchain really you know getting into all the the nuts and bolts here and the interesting aspects so stick around folks we'll be right back.

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00:32:11.580 --> 00:32:22.470 www.TalkRadio.nyc: Small Business trying to navigate the covert 19 related employment laws Hello i'm Eric savoured employment law business law attorney and host of the new radio show employment law today.

00:32:23.070 --> 00:32:35.700 www.TalkRadio.nyc: On my show who have guests, to discuss the common employment law challenges business owners are facing during these trying times tune in on to the things from 5pm to 6pm Eastern time on talk radio dot nyc.

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00:33:14.190 --> 00:33:24.870 Eric Sarver, Esq.: Welcome back to employment law today i'm your host erick solver my guest tonight miss Stacy Robin, but you have 25 years of experience catalyzing corporate and professional growth.

00:33:25.260 --> 00:33:32.550 Eric Sarver, Esq.: And we're talking about cryptocurrency blockchain mainly but about positioning your business for change and growth.

00:33:33.000 --> 00:33:42.630 Eric Sarver, Esq.: Through these different times, where digital assets and technology is just really changing the face of how we do business, I see it in my line of work Stacy.

00:33:43.140 --> 00:33:54.750 Eric Sarver, Esq.: I see technology changing the landscape that sort of escape of employment law as companies now go fully remote which they can do noisy that's a good 3040 years ago.

00:33:55.500 --> 00:34:02.250 Eric Sarver, Esq.: I see with the with more you know kind of online issues of privacy, with the advent of social media but.

00:34:03.000 --> 00:34:10.830 Eric Sarver, Esq.: And I think you know cryptocurrency and I think blockchain create issues for employees, as well, so I guess my question for you and wondering is.

00:34:11.340 --> 00:34:20.370 Eric Sarver, Esq.: What what are some of the challenges and maybe some of the risks that companies face when they integrate a digital assets or cryptocurrency into their business model.

00:34:22.680 --> 00:34:24.030 Eric Sarver, Esq.: Also, I think you're on mute, though.

00:34:24.510 --> 00:34:25.140 Stacy Robin: I am.

00:34:26.340 --> 00:34:29.280 Stacy Robin: that's okay um sometimes I shouldn't be heard, but.

00:34:30.210 --> 00:34:39.900 Stacy Robin: There are there are lots of concerns right now I think we're starting to see cryptocurrency finally getting regulated and people tend to think that regulation is a bad thing.

00:34:40.230 --> 00:34:46.890 Stacy Robin: But the truth is, it gives people direction so, for example when crowdfunding was passed a number of years ago at the federal level.

00:34:47.130 --> 00:34:59.190 Stacy Robin: The states that needed to provide guidance and until that guidance was provided how things were done was kind of risky, because if you don't understand where the regulation may take you, it could put you out of business.

00:34:59.430 --> 00:35:03.420 Stacy Robin: So what's going to be allowed what's going to not be allowed how's this going to work.

00:35:03.450 --> 00:35:13.320 Stacy Robin: How are we going to deal with bad actors, how are we going to deal with public concerns and what I think is really interesting right now is you're seeing a lot of.

00:35:14.370 --> 00:35:25.980 Stacy Robin: tech tech, you know groups crypto enthusiasts people who have been at the forefront of all of these changes from blockchain to crypto pushing for digital currency.

00:35:26.730 --> 00:35:41.190 Stacy Robin: you're seeing all of this, come to come into play, where the lawmakers may not understand enough about these things to adequately develop regulations and so they're actually working hand in hand with these groups.

00:35:41.850 --> 00:35:52.950 Stacy Robin: These groups are helping to write the laws they're helping to provide direction in a lot of seats, and I think that's wonderful, but the bottom line still is, if you're a first mover if you jump in early on.

00:35:53.160 --> 00:35:53.400 Stacy Robin: Right.

00:35:53.460 --> 00:36:08.400 Stacy Robin: You may build something in a way that doesn't reflect how it's going to work in the future, or doesn't comply with regulations that emerge The other issue is you don't necessarily know what the law is going to to.

00:36:08.910 --> 00:36:22.650 Stacy Robin: If you don't know the law or you don't know how the regulations are going to be applied perfect example just with you know we've seen the emergence of people just giving up cash right everybody's using their phone or credit cards.

00:36:23.070 --> 00:36:23.610 Stacy Robin: up yet.

00:36:23.640 --> 00:36:30.570 Stacy Robin: In what February of 2020 New York City pastor rule that these stores could not be cashless.

00:36:30.750 --> 00:36:35.460 Stacy Robin: Right people have to accept cash and they've been finding companies left and right.

00:36:35.790 --> 00:36:45.180 Stacy Robin: Who aren't accepting cash and you could argue on both sides, whether that's good or bad, but that's The bottom line so all these businesses that bank no pun intended.

00:36:45.510 --> 00:36:47.820 Stacy Robin: on being able to run a cashless business.

00:36:47.850 --> 00:36:56.070 Stacy Robin: either have to use the the food truck model where you build in the cost of parking tickets, so you build.

00:36:56.070 --> 00:36:57.330 Stacy Robin: In the cost of the fines.

00:36:57.660 --> 00:37:09.930 Stacy Robin: Or you actually have to comply and figure out how you're going to do that, but I think you raised an interesting point recently on social media about payment you have all of these you, you have the mayor, you have.

00:37:10.620 --> 00:37:19.800 Stacy Robin: Sports figures you have all these different people being paid in digital assets right they might want some form of crypto as as compensation.

00:37:20.130 --> 00:37:31.980 Stacy Robin: and companies may think it's it's a cool way to attract people to you know pay them partially or fully or pay bonuses or some of their compensation should be in some of these currencies.

00:37:33.030 --> 00:37:35.850 Stacy Robin: Is that even legal and that's a question for you.

00:37:36.120 --> 00:37:44.850 Eric Sarver, Esq.: yeah sure i'm an average i've been there, well, first let me just say that I think that at some point you made about you know, the idea of i'd say.

00:37:45.180 --> 00:37:53.940 Eric Sarver, Esq.: As as technology is emerging as the regulations are emerging through lawmakers starting the issue and and getting help from tech, as I tech advisors.

00:37:54.330 --> 00:37:58.290 Eric Sarver, Esq.: I love, they said about companies and business owners, might I guess i'll say the phrase.

00:37:58.710 --> 00:38:08.460 Eric Sarver, Esq.: jumped the gun moving the terms of it say in setting up a business model based on what exists now, only to find and regulations come into play with change that and then.

00:38:08.850 --> 00:38:21.240 Eric Sarver, Esq.: Doing one at of changing everything up as they get more the cashless stores model i'm such a something I think really worth noting for listening to that could be a sort of a con to jumping in too fast into change.

00:38:22.140 --> 00:38:27.150 Eric Sarver, Esq.: But of course it's great to get ahead of the curve and be the sort of the novel company out there and do things differently.

00:38:27.510 --> 00:38:39.960 Eric Sarver, Esq.: Just kind of wanted to cover that point, I think it was made nicely by you, but then to your point which I chomping at the bit to answer about cryptocurrency in terms of, say, you know employment laws and how would employee to know.

00:38:41.040 --> 00:38:52.260 Eric Sarver, Esq.: it's important like you know let's say for employees to recognize that when you're on a business, the the fair Labor standards act requires that money wages, that is a compensation.

00:38:52.710 --> 00:39:05.280 Eric Sarver, Esq.: Particularly to amount to minimum wage or certain minimum salary threshold for overtime pay right, it has to be met in a currency that's backed by government so has to be like recognize your legal tender US dollars.

00:39:05.880 --> 00:39:16.200 Eric Sarver, Esq.: Some companies pay their employees that say in foreign currency, they may have to ranch is one London one here, but as long as it's a you know the total value of that currency.

00:39:16.560 --> 00:39:24.360 Eric Sarver, Esq.: meets the minimum wage threshold or meets at the overtime payment value coming be all right, I think that.

00:39:24.720 --> 00:39:31.020 Eric Sarver, Esq.: What scary over there for companies to know is that you know if you start paying overtime and cryptocurrency it doesn't count.

00:39:31.320 --> 00:39:36.930 Eric Sarver, Esq.: Because it's it could be so volatile so you're paying bitcoins the overtime actually is almost.

00:39:37.380 --> 00:39:42.480 Eric Sarver, Esq.: In the law of is if you're paying nothing, and so you might get fine and penalized or sued.

00:39:42.840 --> 00:39:51.720 Eric Sarver, Esq.: And you won't have the fence, so I think it really important to note that That being said, just as you can give your employees certain perks and bonuses.

00:39:52.050 --> 00:40:07.680 Eric Sarver, Esq.: Through property or gifts or gift cards, you can give someone a bitcoin as a as a non discretionary bonus, and even that gets a bit sort of tricky in that if you're a contractual promise bonus, and you pay in bitcoin and bitcoin men.

00:40:08.700 --> 00:40:13.170 Eric Sarver, Esq.: deflated value decreases nothing did you reach the contract to give.

00:40:13.620 --> 00:40:20.640 Eric Sarver, Esq.: A bonus of some kind of you know, compensation so so one way of saying that I think employers need to be mindful.

00:40:20.880 --> 00:40:31.950 Eric Sarver, Esq.: That just as you mentioned, with regulations don't jump in too fast and say it's a cool way to pay people unless you're at least meeting the middle and vegetables style requirements with with money.

00:40:32.250 --> 00:40:36.570 Stacy Robin: And I mean I think a lot of people also say well bitcoin just isn't going to.

00:40:37.590 --> 00:40:50.790 Stacy Robin: isn't going to make it right it's based on scarcity only so many could be mined but it's really based on market demand, there are other coins that are tied to more stable assets right stable coins, which also have to be regulated differently.

00:40:51.330 --> 00:41:06.150 Stacy Robin: You know, people are still exploring how they're all going to work, and you know, right now, even the irs pegs these as property they're taxed as assets they're not taxed as currency but, as you see the development, for example, of.

00:41:07.170 --> 00:41:11.670 Stacy Robin: caitlin want me to talk about the risk of jumping in before the regulation has been made.

00:41:12.390 --> 00:41:22.290 Stacy Robin: Someone has to make the first move right so caitlin long started the crypto bank avanti in wyoming to help move forward regulations so.

00:41:22.620 --> 00:41:31.470 Stacy Robin: As that bank becomes more established How does that change companies feelings on custody custody assets that are based on blockchain or.

00:41:32.010 --> 00:41:42.870 Stacy Robin: auditing assets that way or how's that bank going to influence the views of whether cryptocurrencies are actually currencies for assets, so you have to take that risk at some point.

00:41:43.530 --> 00:41:54.120 Stacy Robin: So I think you're seeing a lot of different you know it is bitcoin going to be around forever even right if you pop if you promise somebody payment in bitcoin and bitcoin just crashes and goes away.

00:41:54.390 --> 00:41:54.780 Stacy Robin: What do you.

00:41:54.900 --> 00:42:06.960 Stacy Robin: place that within you know a lot of people say, well, I don't think bitcoin is going to make it and you're right, it may not but it's what I think it's doing much like all of these other technologies is ushering in a new way of.

00:42:07.740 --> 00:42:20.700 Stacy Robin: Decentralized you know they're ushering in new concepts decentralized finance a new way of doing business and new way of dealing with finance so bitcoin may not make it may i'm not making predictions around that.

00:42:20.880 --> 00:42:29.460 Stacy Robin: Long but i'm saying it's definitely changed the way we're thinking of engaging and commerce and what tools we use to do that.

00:42:30.120 --> 00:42:37.440 Eric Sarver, Esq.: Right, like the conversation around bitcoin is not a limited to the issue of whether it will it won't make it will be sustainable in the long run.

00:42:37.830 --> 00:42:54.450 Eric Sarver, Esq.: it's about like say you know, looking at what bitcoin is doing and or has an A might do for in terms of impact and change of how businesses may conduct business or how finances me flow more and more decentralized fashion.

00:42:54.870 --> 00:43:00.450 Stacy Robin: And how decentralized networks work when China shut down bitcoin mining.

00:43:00.900 --> 00:43:09.180 Stacy Robin: Right it didn't go away in less than six months it was backup 113%.

00:43:09.480 --> 00:43:11.490 Stacy Robin: Because, even though it was shut down in China.

00:43:11.520 --> 00:43:17.430 Stacy Robin: It popped up elsewhere, so it shows the strength of having a decentralized network.

00:43:17.940 --> 00:43:32.400 Eric Sarver, Esq.: yeah absolutely you know I find that like say with all these different changes anything I think that kind of threatens the long standing power structure of the way business is done can be seen as a threat, but if people understand it more.

00:43:33.240 --> 00:43:42.540 Eric Sarver, Esq.: You can see the opportunities involved as well, and I think that you know we probably would again if we talked about history historic historical context, speaking of historically.

00:43:43.350 --> 00:43:51.330 Eric Sarver, Esq.: On technology and changes is often that kind of push back against it and the fear around it so it's it's definitely interesting I.

00:43:52.500 --> 00:44:03.090 Eric Sarver, Esq.: guess all of this, and if you can we were actually at our next commercial break and I just think that people know that you're listening and tuning into employment lot today i'm your host erick solver.

00:44:03.660 --> 00:44:16.560 Eric Sarver, Esq.: Tonight I have Stacy Robin the began a group when we come back we'll talk about how as a business owner, you can manage a company in light of this rapidly changing world of digital assets and also i'm curious to know how Stacy under the gun you.

00:44:17.160 --> 00:44:24.660 Eric Sarver, Esq.: help their clients to make these adjustments transitions so stick around soccer nyc we'll be right back.

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00:46:24.300 --> 00:46:36.150 Eric Sarver, Esq.: Welcome back to employment lot today i'm your host erick soccer, as I mentioned before the commercial break i'm still your host and daisy Robert is still my amazing talented insightful guests so.

00:46:37.050 --> 00:46:41.550 Eric Sarver, Esq.: And it still muted, just as an fyi I just in case you start to say something there's a thing.

00:46:42.420 --> 00:46:53.280 Eric Sarver, Esq.: So I had a quick question for us and again it's a really good information here just you know, to think about things like saving the 10,000 foot, you know aerial view and the big picture.

00:46:53.520 --> 00:47:04.860 Eric Sarver, Esq.: And then, to give specific examples always the way that I appreciate When people discuss a topic and novel topic and it kind of leads me to my next question for you, which would be about.

00:47:05.760 --> 00:47:10.740 Eric Sarver, Esq.: Basically, about how you work, and it has to do with well first off i'm wondering as a business owner.

00:47:11.310 --> 00:47:23.250 Eric Sarver, Esq.: How do I manage my company might have this rapidly changing world of digital assets and then, more specifically, how do you and heather the guy new route helped her clients to make these adjustments and transitions.

00:47:24.480 --> 00:47:40.620 Stacy Robin: there's two key questions I would I would put in front of them from a from a very general perspective generally and Jen it's, generally speaking, because I it the clients that i'm working with I tend to know pretty well, so we can have these conversations very differently, but for for.

00:47:42.120 --> 00:47:55.320 Stacy Robin: The random person listening decide where you fit right and the when I say where you fit, are you going to be a thermostat or a thermometer right are you going to drive the change or are you going to respond to it.

00:47:55.740 --> 00:48:00.450 Stacy Robin: And that that puts you in a very interesting spot because it.

00:48:00.810 --> 00:48:11.940 Stacy Robin: makes you say at my going to go up against this before regulations are settled, am I going to invest a lot of money, am I going to be a first mover what advantages, does it have what disadvantages, does it have.

00:48:12.330 --> 00:48:16.890 Stacy Robin: But you also have to think about it in the context of going back to the basics.

00:48:17.610 --> 00:48:27.030 Stacy Robin: What need do you fill or serve who are you who are your clients, how are they changing how is your industry changing and where do you fit within that.

00:48:27.690 --> 00:48:41.340 Stacy Robin: What is the value that you ultimately provide and to whom, and does it make sense for you to be the thermometer or the thermostat and does it make sense for you to embrace this or just be aware of it.

00:48:41.760 --> 00:48:51.780 Stacy Robin: And there's a lot of things that you really have to think about in terms of the foundations of who you are as an individual and a business leader and as.

00:48:52.470 --> 00:48:59.940 Stacy Robin: The foundations of your business your mission your vision your your strategic intent, what are you trying to you know what.

00:49:00.510 --> 00:49:19.470 Stacy Robin: Going back to the very basic of why are you in business, what value, are you providing others and if I don't pay attention to this, how is that going to affect me so when I say that I know it, I guess, this relates to technological advantages, I always use the example of the.

00:49:21.030 --> 00:49:21.990 Stacy Robin: Of the the.

00:49:23.340 --> 00:49:31.170 Stacy Robin: Sorry, the locomotive industry right they the railroads dominated dominated this country for a long time they were very wealthy.

00:49:32.010 --> 00:49:47.820 Stacy Robin: They were very wealthy industry and they define themselves by their product right they define themselves as trains as railroads they didn't take that step back and realize what they really filled was a need for transportation.

00:49:48.210 --> 00:49:51.390 Stacy Robin: Right, and so they didn't look at.

00:49:51.570 --> 00:50:04.440 Stacy Robin: You know, should we be going into automobiles, should we be going into airplanes How else are our people and freight going to fulfill that need for transportation, so they played only against their product.

00:50:04.650 --> 00:50:05.400 Stacy Robin: So.

00:50:05.940 --> 00:50:13.980 Stacy Robin: You know what if someone's in transportation today, what do they need to be thinking about and how will this impact them in that context.

00:50:14.250 --> 00:50:20.580 Stacy Robin: And who are their customers and how are their customers needs changing how are their customers changing and how they're.

00:50:21.240 --> 00:50:29.250 Stacy Robin: accessing their services or their need for their services or where they're purchasing their services, so you know what what trends are you.

00:50:29.730 --> 00:50:45.390 Stacy Robin: paying attention to, I think one of the biggest trends that people need to think about is the metaverse right what's going on in the metaverse not that it directly impacts everyone immediately, but how is that going to change how we interact with each other.

00:50:45.660 --> 00:50:51.420 Stacy Robin: How is that going to change how we do business, how is that going to treat change the currencies, we use.

00:50:52.800 --> 00:51:00.540 Stacy Robin: So on you know, right now, the metaverse is really getting a lot of attention in terms of people buying up real estate.

00:51:00.600 --> 00:51:10.980 Stacy Robin: Or you know mcdonald's filed for some new patents, as did panera and people are wondering about that, but what it's really doing is driving business and driving commerce.

00:51:11.430 --> 00:51:19.860 Stacy Robin: To virtual and augmented reality, and so, how are we going to adjust for weed meaning an organization.

00:51:20.160 --> 00:51:31.740 Stacy Robin: going to adjust for that if you know who our clients now who do you think will be the first adopters into the metaverse and I feel, in some ways it's like the Dutch to look crazy or the you know.

00:51:32.160 --> 00:51:38.940 Stacy Robin: The the.com bubble to some degree, because the companies that missed out on the bitcoin craze or the blockchain craze.

00:51:39.120 --> 00:51:44.340 Stacy Robin: Now they're jumping into the metaverse like JP morgan's already opened up a virtual branch.

00:51:45.450 --> 00:51:49.800 Stacy Robin: But that was after Jamie diamond Rudolph bitcoin for for quite some time.

00:51:50.070 --> 00:51:50.850 So.

00:51:51.900 --> 00:52:02.910 Stacy Robin: Are people getting into it too quickly without first realizing what it's going to do and how it's going to work and again it goes back to do you want to be the thermostat or the similar.

00:52:03.510 --> 00:52:17.820 Eric Sarver, Esq.: Right and it's like the answer that question also has to do with, as you said, knowing who you are as a business knowing your industry right, knowing the traffic to the needs and wants of your clients that I heard you say is your customers your clientele.

00:52:18.510 --> 00:52:24.210 Eric Sarver, Esq.: How are they operating in this whole situation you know, do they embrace bitcoins they move away from it.

00:52:24.840 --> 00:52:35.580 Eric Sarver, Esq.: Is it going to be sort of a pie in the sky thing that they won't be able to adapt to our use and how to use it with vendors in your in your field, I think that's very important because yeah with.

00:52:36.060 --> 00:52:47.250 Eric Sarver, Esq.: With any trends any kind of say change, I think you need to know what your needs are, first, before you jump in and then, and then it sort of guide you as to how you might make certain changes.

00:52:48.090 --> 00:52:52.710 Eric Sarver, Esq.: interesting to know that I suppose Those are the things that you take your clients you're a walking them through.

00:52:52.980 --> 00:53:03.300 Eric Sarver, Esq.: Okay, a self assessment, but who are you who are your clients i'm just imagining this from what you're saying hearing about say let's, as you mentioned earlier let's look at the advantages and the.

00:53:03.810 --> 00:53:11.640 Eric Sarver, Esq.: disadvantages of taking different things into account the metaverse blockchain blockchain bitcoin cryptocurrency.

00:53:12.690 --> 00:53:21.090 Eric Sarver, Esq.: really interesting it's mind blowing stuff especially metaverse be that clients in employment law asked me if I have a non compete with exit would be.

00:53:21.840 --> 00:53:27.990 Eric Sarver, Esq.: Binding you know if they're doing business in the metaverse right, because if not, if he never mentioned the metaverse but.

00:53:28.320 --> 00:53:34.980 Eric Sarver, Esq.: It kind of comes back to the wallet and you have a where you actually know where your feet in the ground like were you stationed you know, are you physically.

00:53:35.340 --> 00:53:51.870 Eric Sarver, Esq.: accessing the metaverse or your computer in New York City and are your clients say you know paying for your services in New York and so it's really fascinating, though, and I look forward to this sort of evolving, you know discussion as we go forward.

00:53:53.760 --> 00:53:55.890 Stacy Robin: I think it opens up when you think about.

00:53:56.250 --> 00:54:03.180 Stacy Robin: All of these emerging technologies, the impact you don't always see where the impact is really going to happen.

00:54:03.390 --> 00:54:04.110 Eric Sarver, Esq.: in Braille.

00:54:04.500 --> 00:54:09.660 Stacy Robin: They become a little more mature or people start using them in ways you never expected.

00:54:10.260 --> 00:54:14.250 Eric Sarver, Esq.: I think that's absolutely true, yes I think that's that's really good point you're so true.

00:54:15.510 --> 00:54:30.840 Eric Sarver, Esq.: And hearing know that some of these trends that we have to keep in mind about I think it's also important to keep abreast of what's happening not to just sort of shut it down or and kind of write it off as just this kind of pie in the sky type of thing or situation.

00:54:31.860 --> 00:54:33.240 Eric Sarver, Esq.: You know, in terms of any kind of.

00:54:33.480 --> 00:54:37.230 Stacy Robin: I would agree, I saw too many business leaders writing off things like.

00:54:37.230 --> 00:54:49.230 Stacy Robin: cryptocurrency because they just think thought it would go away with it would burst and I gave them the same commentary that I gave a few minutes ago, which is short bitcoin may go away.

00:54:49.440 --> 00:55:02.010 Stacy Robin: But it's changing the way commerce is going to work So what do we need to know about it, but as far as non technical business leaders, they need to have a a method in place.

00:55:02.010 --> 00:55:15.570 Stacy Robin: for getting information about these things, and it needs to have several layers to it right, you need to have trusted a trusted source for the information right Where are you getting your information from if you're waiting for the New York Times to report on it.

00:55:15.810 --> 00:55:19.350 Stacy Robin: Then you need to be somebody or or even the Wall Street Journal.

00:55:19.560 --> 00:55:21.450 Stacy Robin: You know you're not going to be a first mover.

00:55:21.810 --> 00:55:22.230 Eric Sarver, Esq.: Right.

00:55:22.710 --> 00:55:24.840 Eric Sarver, Esq.: In the middle ground draft you that.

00:55:24.870 --> 00:55:25.650 Eric Sarver, Esq.: it's a great point.

00:55:26.190 --> 00:55:37.410 Eric Sarver, Esq.: About two minutes left in the show when I give you ample time to share with our listeners how they can get in touch with you what's going on, you know what what's your website email any upcoming events book, the floor is yours.

00:55:38.100 --> 00:55:47.250 Stacy Robin: Thank you so much, I would tell people I am available on linkedin is probably my most use Social Platform, you can find both.

00:55:48.000 --> 00:56:11.040 Stacy Robin: My business there you can find me there feel free to reach out to connect my website is my business name www dot the ganja group COM D G a n I a group COM, and you can also reach out to Eric and and he can pass on my information if if you can't figure out how to reach me elsewise otherwise.

00:56:11.400 --> 00:56:24.030 Eric Sarver, Esq.: absolutely true, yes, you can reach me at the Ms it's Eric Mitchell sovereign sovereign a cr V your law firm common happy to be a conduit for connections with DC and you have any other.

00:56:24.750 --> 00:56:27.150 Stacy Robin: Just just to say that I.

00:56:27.240 --> 00:56:40.980 Stacy Robin: appreciate that you gave your email address because people also need to have their trusted advisors weighing in on how these regulatory changes will impact them and, as you mentioned there's a lot affecting businesses and employment law.

00:56:41.520 --> 00:56:51.630 Eric Sarver, Esq.: huh yes absolutely so true so true wow Stacy I just want to first Thank you so much Thank you so much for being on our show tonight so thanks for.

00:56:51.960 --> 00:57:00.210 Eric Sarver, Esq.: Sharing all your you know wisdom information and insights about this topic of you know bitcoin and cryptocurrencies and blockchain.

00:57:00.540 --> 00:57:12.360 Eric Sarver, Esq.: And how it's impacting business today, you know we try to cover all the novel issues and trends that business owners and employers face on the show, and so, for that vino just let people know that if you like, what you heard tonight.

00:57:13.380 --> 00:57:22.680 Eric Sarver, Esq.: Talk about the show share it with your friends your network share on social media and tune in Tuesday nights that's on Tuesday nights at 5pm to 6pm Eastern standard time.

00:57:23.010 --> 00:57:37.320 Eric Sarver, Esq.: right here on talk to me to nyc to employment law today, as always i'm your host erick sour and well, thank you again states robbins the designer group and want to wish everyone a happy and safe evening and good health and we'll see you back here next week so.

00:57:38.460 --> 00:57:40.230 Eric Sarver, Esq.: Thank you, thank you.

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