Leaders Series: Danielle Laity @ Luno

Issue 9 — March 9th, 2017

This series highlights the unique stories of leaders from various communities across the growing digital currency and blockchain technology industry. The goal is to showcase the fantastic work these leaders are all doing at different levels of their respective organizations, and to encourage more people at all stages of their careers join the revolution we’re creating, together!

Danielle Laity is a Product Manager at Luno

Where did you first get introduced to the idea of bitcoin?

I first heard of Bitcoin during my time in the Standard Bank Graduate Program. I was working as a Product Analyst in Cross Border and Domestic Payments and was asked to do research into payments innovation. Bitcoin came up as a controversial topic at the time and I was fascinated. I watched endless Youtube videos to try and understand it and started to search for someone within the bank who shared my enthusiasm. This lead to a meeting with an executive in the innovation space at the bank who would become my manager and mentor for the next three years. During my time in the Innovation Capability department, I was responsible for Open Innovation and part of this was developing new products with external partners. Luno was one of the companies that I engaged with from the Fintech ecosystem. The role also allowed me to travel and see multiple applications of various technologies in the financial services industry. Bitcoin always stood out.

What did you do before you got into bitcoin?

Prior to Luno, I was the Open Innovation Manager at Standard Bank. I was responsible for setting up the Innovation Lab, which used Design Thinking principles to solve customer problems. I was also responsible for managing external innovation partnerships and projects from a scouting, governance, strategy and development perspective. In this role, I learned a lot about product development, financial technology and systems. I studied Business Science Marketing but never thought I’d work in financial services. I’ve since come to realize what an exciting and dynamic industry it is because of the multiple ways in which it touches every facet of people’s lives.

What’s been the most interesting experience you’ve had in your role so far?

Luno rebranded from BitX in my first week at the company. Having come from a large bank, it was amazing to see the efficiency and passion of a startup. It was a turning point for the team and seeing the commitment to delivering on the vision was inspirational.

What problem is Luno solving? Why do you feel passionate about this?

Luno is making Bitcoin accessible to everyone. The financial system is broken and Luno strives to make money frictionless.

What do you think is limiting or delaying the adoption of bitcoin?

I think fear is a major drawback at the moment. People always fear what they don’t understand and because Bitcoin’s origin is in technology, people seem to think that it is only for those special few with a technical understanding. The internet comparison is probably overused but in the same way as not everyone understands how email works but still uses it, Bitcoin is for everyone. I genuinely believe that Bitcoin is reaching the point of ‘chasm crossing’ and that the network effects will soon take over. The catalyst necessary for this is simply more attempts at making this technology and its benefits scalable and accessible.

What changes do you think bitcoin will accelerate in our world?

I think there are numerous things happening in the world right now that are going to lead to Bitcoin adoption. I think the adoption of Bitcoin as an investment portfolio diversification method is going to be the short-term scenario. This will drive familiarity, funding and better systems. Once this infrastructure and consumer comfort is in place, I think Bitcoin as a currency will become more prominent. In the background to this, a driving factor will be unstable economies and individuals seeking an alternative to the traditional financial system.

Thanks to Danielle for sharing her story. Connect with Danielle on LinkedIn!