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How to Build a Strong Web3 Team with Daniel Bar, Founder of Bitfwd Capital

Webinar Details

Date: 06/04/2023

Host: Kevin Whitmore, Business Innovation Advisor at Callaghan Innovation

Guest: Daniel Bar, Founder of Bitfwd Capital and Entrepreneur Fellow at Edmund Hillary Fellowship.

Video Length: 1:14:20

Transcript

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[00:00:00] Kevin - Welcome & Introduction

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[00:01:05] Daniel - Introduction

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[00:02:17] Daniel Bio - Founder of Bitfwd Capital

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[00:02:49] Team evaluation - High intellect, high energy, high integrity

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[00:05:11] Risk Factors - Tech

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[00:08:50] Risk Factors - Regulatory

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[00:12:06] Risk Factors - Venture structure

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[00:15:43] Web3 vs. traditional web

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[00:20:37] Protocolization yardstick - Objective reality check

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[00:23:42] Protocolization yardstick - Hierarchy of principles

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[00:26:58] Question: Do you see a difference between permissionless/composability and open-source?

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[00:27:46] Market landscape

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[00:29:36] Opportunities - What do people need?

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[00:34:19] Korero time - Open to questions

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[00:34:38] Q1: Can free markets operate in the long term without intervention?

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[00:38:12] Q2: How would you advise people start their journey in terms of the Web3 team building process?

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[00:41:32] Q3: Any strategies or tips on how to develop mechanisms for testing out those founder characteristics - integrity, energy, intellect?

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[00:44:19] Q4: How might we validate integrity when this aspect generally only shows under stress or moral dilemma?

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[00:45:44] Q5: On-ramps into crypto are becoming more valuable so what are some of the other trends in crypto that are becoming important throughout the stack?

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[00:47:28] Q6: Follow up question on founders, any way to test it out quicker?

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[00:49:45] End of 60 minute session. 30 minute Q&A begins for remaining audience

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[00:50:59] Q7: Daniel to audience - What makes Aus/NZ unique in the Web3 space and what areas need to be strengthened to compete globally?

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[00:55:57] Q8: Are we going to have enough Web3 tech talent in New Zealand as blockchain becomes mainstream?

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[00:59:01] Q9: Do you have any insight with regards to tax structures for a mobile worker in the digital space?

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[01:02:48] Q10: What are the key differences in Web3 teams compared with Web2 in terms of their ways of working and the idea of distributed versus co-location?

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[01:06:07] Q11: How are incentives structured in Web3 teams? Are there any industry standard ways of rewarding or remunerating teams that people should be aware of?

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[01:08:47] Q12: Can you provide examples of Web3 businesses that have successfully navigated the hurdle of access to banking services? What advice can you provide in this area?

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[01:12:49] Q13: Favourite Web3 VC or any VCs you would recommend people talk with?

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[01:13:53] Final words and wrap-up