Joining Paradigm · Justin Slaughter
I’m thrilled to announce that I’m joining Paradigm as Policy Director, helping Fred, Matt, Alana, and the entire Paradigm team, as well as our portfolio companies and projects, approach the pressing policy and regulatory questions surrounding crypto.
I’m joining Paradigm because I believe that crypto can be a force for growth and increased competition in the economy, and that Paradigm represents the absolute best of this movement. Too many people are locked out of a financial system dominated by a small number of firms, prevented from accessing technological innovations at the core of living in a modern economy, including more affordable ways to save and transfer money. And trust in our society is sorely lacking. Crypto represents the strongest challenge to this status quo I’ve seen in nearly a decade of public service across multiple agencies.
This is a moment of change for finance and technology. From the rise of cryptocurrencies themselves to the establishment of new disruptive technologies and firms, crypto has grown from a nascent community to a new ecosystem of currencies and digital commodities, a new financial system in DeFi, and a new application platform in Web3. NFTs, gaming, and the increasing entrance of institutional and consumer participation mean the importance of crypto will probably only grow this decade and beyond.
New technology can be a double-edged sword for policymakers. Innovation that allows for improved hedging of risks can also make our financial system more fragile if not used wisely. At the same time, government regulations and laws can unnecessarily prevent innovation, hurting consumers and sheltering incumbent companies and interests from competition. If it takes $5 million in legal fees to launch a new financial technology, few new firms will rise up to compete with established goliaths.
What is needed more than ever is dialogue between crypto innovators, regulators, and policymakers. Even the smallest companies need to understand the global rules of the road. At the same time, regulators and policymakers need to better understand how crypto works in practice directly from the people building its future. Basically, we need more communication and engagement, especially as this industry enters its second decade.
If there is one thing readers take away from this announcement, I hope it is this: Paradigm is ready and available to help explain how things work in good faith. To crypto entrepreneurs: if you have questions about how the government operates, please reach out to us. To policymakers and regulators: we are here to help you understand this emergent industry. The hardest thing to be is a light in the dark, but that is what Paradigm seeks to be in 2022 and beyond. I’m excited to join this wonderful team and pick up a little candle.