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Episode 32

Revolutionizing Payments: Perspectives from Brazil to the US

Elton Chang, Investor at Propel, discusses how Brazil is setting the standard for real-time payment systems with PIX, and why Central Bank Digital Currencies (CBDCs) and stablecoins have the ability to revolutionize financial services in emerging markets. We also discuss the critical need for regulatory awareness in these rapidly evolving sectors.

Transcript

[00:00:00] Luke: From privacy concerns to limitless potential, AI is rapidly impacting our evolving society. In this new season of the Brave Technologist podcast, we’re demystifying artificial intelligence, challenging the status quo, and empowering everyday people to embrace the digital revolution. I’m your host, Luke Malks, VP of Business Operations at Brave Software, makers of the privacy respecting Brave browser and search engine, now powering AI with the Brave Search API.

[00:00:29] You’re listening to a new episode of The Brave Technologist, and this one features Elton. Elton is an investor at Propel, an early stage venture capital fund based in San Francisco. Propel invests in the new financial economy, companies that enable, accelerate, deliver, and secure the future of value exchange.

[00:00:47] AI and crypto are two frontier technologies that Propel is focusing on in particular to update the financial system. In this episode we discuss why they’re focusing on emerging markets like Latin America and the [00:01:00] opportunities they’re excited about in countries like Brazil and Argentina, the need for regulating disrupting technologies, and Propel’s stance on this.

[00:01:07] Along with the diversity that specialized blockchains offer and how AI makes smart contracts even smarter. We also dug into the prediction market space and other new and interesting ways that technology and investment are meeting. Now for this week’s episode of the Brave Technologist. Elton, welcome to the Brave Technologist.

[00:01:29] How are you doing?

[00:01:30] Elton: good. Thank you for having me.

[00:01:31] Luke: Yeah, yeah. We’re excited to have you, man. Why don’t we start off by kind of, let’s set the table here. How did you end up at Propel? What are you up to now at Propel?

[00:01:41] Elton: Yeah, sounds good. So the origin story for me, my first job out of college was in technology in the Silicon Valley.

[00:01:49] So I was lucky enough to join a company at the time called Ethos Life. Was part of the early team over there. Bye. Bye. Essentially helping build and scale a new product. [00:02:00] So spent a little bit over a year over there and sort of just dove into the technology space and learning about sort of how products are built and, you know, how teams are run and how people build startups from essentially like nothing and an idea into.

[00:02:15] Sort of this, fully burgeoning business. And so it was a good, really eye opening experience for me and a good learning experience. And yeah, so at one point that company scaled really quickly. I got really lucky and a former manager of mine actually connected me to Propel and said, Hey, like they were looking for someone to hire as an investor.

[00:02:34] And. one thing and the next and, got connected to the team, really liked the work that we were doing here at Propel. This is almost three years ago and hopped on full time as an investor. And it sort of felt, I think, full circle. I’ve always been interested in technology and then on the other side, finance.

[00:02:49] I was a finance sort of grad in college. And so, you know, it was good to see the startup side of things and see how things worked and then hop into the investing side full time. [00:03:00] So that was sort of my origin story and getting into Propel. And in terms of what I’m working on here, so we’re a small team, there’s only six of us.

[00:03:07] And so it’s sort of like a full stack role as an investor. but obviously we all have our major and minors things that like we spend most of our time on individually. founders and areas that we learn about and get to meet. And so for myself, I’ve been helping lead of a lot of our more blockchain and crypto efforts here, but it’s still generalist.

[00:03:26] So I’ve invested obviously in that space, but also I’ve looked at opportunities and whether that be payments and emerging markets or AI opportunities, enterprise SaaS opportunities. It’s really quite generalist here. And so good to see a lot. So that’s sort of my origin story and what I’m up to these days.

[00:03:44] Luke: That’s awesome. What separates Propel from a lot of the other investors in this space?

[00:03:50] Elton: Yeah, no, it’s a great question. One that we asked ourselves constantly to improve on, but I think like sort of similar to my background, everyone on the team [00:04:00] here comes from the financial services ecosystem, right. And have spent time there.

[00:04:04] And so we really, I think, have an advantage in understanding sort of how that ecosystem works, the products within that set of wider ecosystem and. And really have a network in that space to help the entrepreneurs that you know, we’re working with. So that’s one thing. I think the second thing also is because we’re by design a small team.

[00:04:22] That means we’re very, very focused on the entrepreneurs that we work with on a day to day and really take the craft approach to venture, right? Like we of course do the math on portfolio design and all of that, but I think we’re more focused on the micro of building relationships with our entrepreneurs and figuring out the ways that.

[00:04:41] You know, we can, in small part, support them and help them build a successful business.

[00:04:45] Luke: Where’s a lot of the focus right now? What’s the ground in front of you looking like? Yeah. You know, your day to day.

[00:04:51] Elton: Yeah, it’s a great question. I mean, and without question, AI is sort of one thing that we’re spending a lot of time and understanding, I think.

[00:04:59] [00:05:00] Within non crypto or blockchain space, most companies these days have to have an enterprise AI angle, within their product sets or, within their product to really make it interesting for investors and to sell to customers that are interested about the space, right? And so a lot of the times we’re thinking about the different stacks within AI that could be relevant to the stuff that we look at, that can be end applications that consumers use.

[00:05:24] And our businesses use, it could be, call it middleware. How do you facilitate end customers, B2B customers to build interesting AI applications? and then at the sort of bottom stack of how do models improve what models best serve sort of the financial services ecosystem at large? Are they going to be LLMs?

[00:05:43] Are they going to be something else? Really thinking about sort of that set of opportunities. And we’re seeing a lot of entrepreneurs in that space. So that’s one area. I think blockchain continues to be a focus area for us. I think entrepreneurial activity continues in this space and, up market and down [00:06:00] market, and.

[00:06:01] You know, I think we take the perspective that larger pools of capital institutional capital is slowly on ramping into the space It’s probably not a five year transition. It’s probably more of a 20 to 30 year transition in our view but given sort of the Opportunity set of financial services as a market.

[00:06:19] We just think that blockchain rails continue to improve Applications will continue to be be built and really spending a lot of time there

[00:06:27] Luke: What areas in the blockchain space are you most interested in? It could be a personal question or it could be propel. What’s interesting to you in the space right now?

[00:06:37] Elton: Yeah, it is a very, very loud space and messy, chaotic space. And so, I don’t know. I think we take a step back and try to start from where are the areas where we’re seeing real product market fit within the space. I think without question, one of those areas is stable coins. And really breaking like stable coins down into like, What are those flows used for?

[00:06:57] Are they used for a sort of a stable [00:07:00] pair? Are they used for cross border transfers? Are they used for, you know, hedging against inflation risks in emerging markets without even diving in that deep? I think stable coins have really, really interesting use cases across the ecosystem, right? For different sets of users.

[00:07:14] And so that’s one area I’m spending a lot of time on thinking about new designs for stable coins. new demand generation layers, think like consumer applications or B2B applications to incorporate stable coins into people’s daily lives and usage, trying to figure out where are the best teams building in this space.

[00:07:31] So that’s where I’ve been spending a lot of time on. Beyond that, I think coming from a sort of traditional finance background always are looking for infrastructure providers that can make blockchains useful. For think banks, think larger hedge funds, family offices, et cetera. These can be anything from compliance providers to custody providers to higher fidelity, blockchain structured substrates, more high throughput systems, et cetera.

[00:07:59] And [00:08:00] so that I would group more into like the blockchain design infrastructure space. And we’re not limited to token investing as well. we look at SAS providers in the space as well.

[00:08:08] Luke: Awesome. Well, you mentioned it twice now, so I’m going to, pry on the emerging markets a bit. Is Propel looking specifically into emerging markets and which markets are super interesting right now around the globe?

[00:08:20] Elton: Yeah. So we, at Propel have been investing in emerging markets. I think since 2017, most of that capital has in reality gone into Latin America. So actually nine of our portfolio companies are in that region. The reason for that really is just because we’ve spent more time in Latin America than maybe other markets like India or Africa, and it’s also closer to home for us, I’d say, and easier to get down there.

[00:08:47] It’s an area that we continue to have a lot of interest in, right? For a couple of reasons. I think back in 2017 or 2018, the team really realized, Hey, like. Places like Brazil and India and others were just ripe for [00:09:00] disruption, right? Like large swaths of the population just didn’t have any access to financial tools, but you know, with digitization, with folks learning about approaches that’s been done in the U S and been successful, bringing it to the local market with local product, call it sensibilities and building platforms.

[00:09:19] In those regions, we really saw a good set of opportunities starting from then. And then of course, there’s other risks that certain markets face, for example, currency devaluation, inflation, etc. These days, I think, still similarly, very much interested in the ecosystem. We’ve actually seen a lot of Regulatory changes in some of these regions, for example, Brazil is super advanced in terms of their thinking on payments, in terms of their thinking on digital assets.

[00:09:46] And so we’re continuing to spend time in those regions. And at the end of the day, we just see like interesting real life use cases for things like blockchain or crypto, right? We’re an investor in a company in Argentina called Lemon and. It really just [00:10:00] captured the attention of the folks in that region because, you know, their currency is, wildly volatile and access to USDC and Bitcoin and Ethereum is super important for folks that are trying to maintain and grow their wealth, right?

[00:10:12] Yeah, we continue to spend a lot of time in Latin America. We want to do more in other places of the world. We just have built out a good network and of friends of founders, investors in the region and continue to spend more time there.

[00:10:24] Luke: When you mentioned things like Brazil is like more advanced on payments, right?

[00:10:28] like for folks that might not be totally familiar with what that means, is that more of like regulators are plugged into the system? Like, can you break down a little bit around what that means just for folks that are learning about this for the first time?

[00:10:41] Elton: I guess at a high level, you know, in the United States or in America, We work with payment rails that have been in existence for decades, right? obviously now there’s some newer rails that are coming to market with RTP and other sort of sets of payment rails are a little bit faster, but in places like Brazil, there are sort of [00:11:00] central bank coordination around. Being able to accept real time payments.

[00:11:04] So this is the system called PICS is just incredible, right? If you look at a graph of, you know, the volume increases in PICS, this real time payment network, it’s basically from nothing five or six years ago to now the most popular payment method. And that really goes a lot into the coordination that central bank had behind that payment system.

[00:11:26] and really encouraging the banks, the financial institutions, the payment processors down there. To accept and build a usable system for consumers and consumers to like access and utilize those rails, right? I think that’s been a little bit slower in places like the U. S. for us to adopt newer payment standards.

[00:11:44] Another area that the central bank is working on right now is enabling sort of a, call it a CBDC. And we’re sort of a government sponsored stable coin again, like the large banks in the region or in the country well as large financial institutions are all engaged [00:12:00] and working on this initiative together, looking to push out sort of this next build out of that product.

[00:12:04] And I think the openness to. Work on sort of ambitious projects like these and see them to completion and into the hand of the end consumer and provide them better payment tools, better systems for financial services is just pretty inspiring to see and the speed at which they move on those things is really astounding.

[00:12:22] So that’s sort of what I’m pointing to in terms of like how these places are maybe a little bit more forward in terms of regulation.

[00:12:30] Luke: I think it’s super interesting because I think what people kind of get caught in, like a binary way of thinking with a lot of this stuff. And you just like laid out a really good example of like, yeah, like central banking efforts can be around a stable Coinbase system, but then also like a CBDC system where there’s like a central bank digital currency, because I think Like a lot of folks kind of think it either has to be one or none where it’s like either cash digital cash or the CBDC thing, but hearing that they’re working on like things that involve stable coins is [00:13:00] like really interesting because you know, a lot of dynamics at play there when you look at like these systems too.

[00:13:05] Is it a lot of times a payment provider that’s working with like integrated point of sale systems or is it like are there startups that are specifically like looking at point of sale for these types of developing market integrations or like how is that working out there? I’m sure folks are interested to hear that.

[00:13:21] Elton: Yeah, at a high level, and it’s probably better to ask someone in market, but at a high level, what we’ve seen, you know, in places like Brazil and or others, it’s mostly consumer first. So if you look at picks taking a step back there, sort of instant payment system, most of the usage there or the volume there is going through consumers.

[00:13:38] So what’s incredible is these call it central bankers. And large financial institutions have built out an amazing consumer application at the end of the day, which is interesting to think about, I think, in places like Argentina, for example, albeit this is not sort of a, you know, central bank effort, but the companies like lemon and others that have So, really given access to the regular people there to access [00:14:00] crypto rails or stable coins or other assets.

[00:14:02] It’s mostly been a consumer led approach. Of course, there are companies also trying to build out the B2B rails, but we generally see consumer first as a distribution point and then companies come into the market and try to Built integrations build sort of tools so that businesses can take advantage of those new rails That the government and or others are providing

[00:14:24] Luke: that makes a lot of sense to I think you know a lot of this stuff Adoption market fit right like and getting in those first adopters hands is pretty key As in a group of investors, right?

[00:14:34] Obviously the regulatory landscape is kind of all over the place right now. Like, especially now with how it’s kind of gotten politicized in the U S especially when you’re not just looking at like crypto and the blockchain side of things, but also like AI is getting attention in this. What’s your guys take on this?

[00:14:51] Like, as I mean, you know, capital allocators, investors, like looking at, okay, I have to put money into efforts in this market. Is the regulatory landscape [00:15:00] concerning? What’s your guys take on it? Are you, are you forced to look in other areas? Love to hear more. Where are your guys heads at with this? Because I know from my side, like working on an application, that’s like a global application where we have like 180 plus different countries with users in them.

[00:15:15] Like we have to kind of look at a lot of these things differently. How is it from an investor’s perspective, kind of trying to look and see, cause it’s just this wild technology that’s growing really fast on both these fronts. And then politicians and regulators are learning at their own speed too, and, being themselves.

[00:15:29] Right.

[00:15:30] Elton: Totally. Yeah, no, agreed. And yeah, I think our perspective is in general, regulation always catches up with technology. I think that’s just like the definition of why technology can be disruptive. And this has happened through with Web 2 platforms and other technology platforms, right? And so it’s not surprising to me that there’s a lot of confusion.

[00:15:50] There’s a lot of call it Lack of clarity in the regulatory space, whether if it’s for AI or for the blockchain space, let’s say. I think in our perspective, [00:16:00] when we think about investing and we think about how regulations come into play, the first piece is we always look at Whether being compliant in a certain jurisdiction or as compliant as you can be in a certain jurisdiction that you operate in is a sort of high priority for the founding team or for the management team, right?

[00:16:17] And I think Brave has done this really well. Other companies that we’re investors in, for example, Coinbase is well known for Really focusing on the side of things. And so I do think there’s an advantage for companies to be built with that sort of sensibility and focus in terms of general, our general perspective on regulation, we are pro regulation.

[00:16:38] I think at propel in terms of just giving entrepreneurs clarity, right. And that’s what Coinbase has argued for. And other players in the space has argued for. They’re not at all anti regulation, they just want regulation where they understand sort of the lay of the land and they can sort of operate based on those rules.

[00:16:56] And I think we very much agree with that perspective. We [00:17:00] understand that regulations need to be in place to protect consumers, investors, and so on. And so I think that’s sort of an effort that we can get behind and, and otherwise, but also understand, you know, with disruptive technology, there’s always going to be some gray area.

[00:17:13] Luke: Yeah. Changing gears kind of bit. In this blockchain space, it’s obviously like things were very like, okay, uh, Bitcoin, Bitcoin, Ethereum, then you kind of have all these different emerging networks too. And now it’s just like this whole smorgasbord of like, you’ve got like, you know, all tell one spaces and then these L2s that are just kind of sprawling out, like which blockchain ecosystem or networks really interesting to you personally, but then maybe to propel to you, like which ones are you guys like looking at?

[00:17:40] Which ones are you seeing gaining traction and why?

[00:17:44] Elton: Maybe starting from the perspective of Propel, we’re pretty much agnostic as a firm in terms of like which ecosystems we like to look at and spend time in. Obviously we spend time in certain ecosystems more than others just by nature of having spent time in it [00:18:00] before and knowing some of the entrepreneurs in the space.

[00:18:03] And also driven by, you know, where our portfolio founders tell us, Hey, there’s something interesting going on here. We want to expand to there. And then that’s always a sign for us to spend some time learning more. But in particular for me and everyone on the team personally has preferences. I helped us or the firm invested two and a half years and go into a Solana based company called Helios.

[00:18:23] It’s building sort of the most robust developer tooling for builders in that space. And I just think like throughout the last two and a half years watching. That ecosystem via that investment, be resilient, come out from sort of the darkness that was the FTX calamity and builders sticking to that ecosystem and now sort of gaining traction, gaining more users and developers to build newer products, novel products, and that ecosystem has just been really, really fun and exciting to watch.

[00:18:52] So, you know, I have a, I wouldn’t call it my favorite ecosystem, but it’s definitely a soft place, my heart for. The folks in Solana and of course want to [00:19:00] continue builders in that ecosystem and at a higher level, of course, I do think higher throughput blockchains are going to be needed, whether if it’s in the EVM or otherwise, right?

[00:19:09] I think L2s is an interesting space and I say all that because we understand for. You know, sort of robust financial tools to be built and for larger pools of capital to enter into the space, those solutions and infrastructure solutions need to be improved and continuously improved. Right. So.

[00:19:25] Luke: No, it’s great.

[00:19:26] I didn’t realize you guys were,back to Helios. I mean, the, the rise of MERT too, out of their founder, is just an awesome, they seem really, really great company. It’s really cool to see them doing what they’re doing. It’s also neat to kind of like in this space. You have this whole phase of like, maximalism kind of trends and stuff.

[00:19:43] So it’s really cool to hear how agnostic you all are playing it. Cause it seems like, I mean, this space is just, it doesn’t seem like any one network can handle all the potential right now. Like, and so it’s kind of being agnostic and having options here in specialized [00:20:00] blockchains for different things, or maybe even around the compliance area.

[00:20:03] Right. And having networks that can be Western compliant or whatever, right? it, seems like that’s a good bet to make around having that diversity among different options in front of you. So it’s super cool to hear. I can imagine too, that, I mean, I’m seeing talk about it where like you have emerging AI and people throw out buzzwords, like, you know, ubiquitous and all this stuff, but then, you know, people also throw buzzwords.

[00:20:25] The same thing out with crypto or web three or blockchain or whatever. And everybody acts like it’s going to be everywhere. But like, when you’re looking at the space, there any areas where blockchains and AI, like you’re seeing them converge? Are there any interesting projects or types of projects where you see this first coming onto people’s radar?

[00:20:43] Because it seems like an inevitability. A lot of people are kind of thinking, well, where, you know, where’s it going to be? What are you guys seeing that’s interesting? Yeah.

[00:20:51] Elton: Yeah. At a high level, I think certainly there’s going to be a convergence of the two sort of technology trends of the day. And I think an [00:21:00] obvious, logically sound convergence point will be, you know, how do you verify, call it the provenance of a piece of art?

[00:21:08] video or any other type of content that you want to identify who or what created that piece of content, right? And I think, you know, blockchains have this unique ability to prove sort of the creator or the ownership of a of a digital asset. And I think that’s a natural convergence point and have increasingly met more and more.

[00:21:27] Entrepreneurs thinking about this in a different layers of the stack, right? Maybe working more towards the digital asset creator themselves, or thinking more about, you know, model provenance and data provenance or data privacy, et cetera. So I think that’s a space that’s very, very interesting. And we’re seeing a lot of opportunity into, and I think it’s still early, but we’ll definitely see more and more of these tools in the wild being used.

[00:21:50] I think another piece that’s interesting is, you know, I think blockchains by nature, Our ledgers and within the ledgers, there’s a wealth of data, across. You know, wallets [00:22:00] and the users call it behavior, and it seems to be a an area of data that hasn’t been tapped into for things like training for inference and so on, and I’ve seen interesting concepts of folks looking to Utilizing blockchain data and training models or fine tuning models using that data, you know, in order to create outcomes based on that data, it can be for a smart contract usage or for some other usage on the blockchain.

[00:22:25] But I do think there’s interesting use cases there where I think others have maybe admitted in the non sort of crypto space, right? Those are a couple of areas that I’ve been spending time on. And then lastly, I think inferencing making smart contracts. Smarter in a sense by embedding AI within some of the pre transaction computation is quite interesting to me.

[00:22:48] There’s a few companies in the space that are well known and are experimenting around this. And so I think that’s another area that will continue to see development and, More, innovation there.

[00:22:58] Luke: I don’t talk to investors on [00:23:00] the podcast very often. I’ve had maybe a couple on, one question I’ve always like ended up kicking myself for not asking is everybody’s always got like that one thing and sometimes it’s like an actor, oh, I, I said no to this one script or, or like, or whatever.

[00:23:11] Is there any like ideas or opportunity? It doesn’t have to be. You don’t have to specifically mention it if you don’t want to, but has there been anything where you’re like, man, I just wish I would have gotten in on that and it totally took off that you’ve seen in your time in the space. Oh yeah. All the time.

[00:23:24] Right.

[00:23:25] Elton: Yeah. Maybe I can bring up a couple of spaces that maybe I’ve omitted, just because I was, it was early and I didn’t understand it fully one area. I think that’s getting a lot of. Attention and adoption is the prediction market space. I think that’s like a very, very interesting new use case that people are experimenting with on and off blockchain rails.

[00:23:45] And I think tying it into the earlier point on AI and sort of proving provenance media these days can be very noisy and sometimes misleading. Prediction markets allow people to put a dollar behind their belief in a sense. Right. And I think that at scale is [00:24:00] very, very powerful. Cool. to create information markets that can be another point of reference for someone to make a decision or informed decision on.

[00:24:06] And so I think that is a very interesting space that, you know, maybe I’ve missed out on and I’ve definitely seen companies in the past in that space. The other space that I think I may have missed on TBD, but I think the ecosystem is, you know, sort of seeing a renaissance. I’ve seen some of those projects that are working in that space early, and I didn’t fully understand it back then, but I think it’s a very exciting time for folks.

[00:24:29] There’s so much capital that’s locked within Bitcoin that hasn’t really moved on chain quote unquote into real life. Sort of the programmable finance that we all know and love. And so I think folks building the infrastructure and tooling for that capital to become productive again is really, really interesting.

[00:24:47] And so that’s another area that, you know, I’ve been spending time in now and meeting entrepreneurs in the space.

[00:24:52] Luke: Yeah, it’s been wild like seeing the prediction markets and even things like how mean coins have kind of like, even like when you look at the debate last week, right? Like, and the [00:25:00] Bowdoin mean coin just starts like, it’s almost like a, like a forward indicator on a very rash one, right?

[00:25:07] Like on where now you’re seeing, I was seeing,the guy from 538 releasing actually like national hold. model updates today where it was like, it’s not as sharp of a downward trend, but it’s just interesting to see how kind of like even something as silly as a mean coin can like be used as a barometer for a sentiment, you know, with a real life event rate that’s happening.

[00:25:24] And I think, you know, it’s still very wild west, but it’s kind of getting more gel together between these different things as they get built up. And the other thing I kind of kicked myself about too, when I have investors onto a lot of people that use brave and a lot of people are probably listening as podcasts, maybe they’re builders, maybe they’re entrepreneurs, maybe they’re, you know, lead users that, that have a dream of wanting to build something, I mean, as somebody in your role, what advice would you give?

[00:25:49] Maybe there’s somebody who’s done a prototype on something or has a really strong thing that they want to get investment behind, like, as far as like a early founder, like, or even an engineer that just wants to get something built, what do [00:26:00] you recommend for how they approach like an investor, right?

[00:26:03] Elton: Yeah, look, I think the easiest way is shooting an email to the investor you want to, you want to chat with and, you know, at Propel we review every single cold email that we receive personally, and we strive to try to get back to founders as quickly as we can.

[00:26:18] Right. And so you’ll know who will respond and who won’t and sort of measure who your favorite investors are, I guess, based on that. But I would just say, reach out on Twitter, on email, on LinkedIn, whatever it may be. And that’s always a good way to get in front of. The folks that you want to connect with.

[00:26:32] That’s one way. I think another way of course is, ask your friends, right? Do they have any investor friends? They know anyone in the space, warm introductions for better or worse. And in the venture space is always, you know, helps founders get in front of investors and get feedback and so on. And so that’s another, I think, trick or hack you can use to really get in front of folks.

[00:26:50] I think last thing, and this is also, if someone can achieve this also really helpful is, Yeah. You know, building in public, the concept of posting about what you’re [00:27:00] building, sharing updates, sharing your MVP out there, as far as you can share, whether that be on Twitter, whether that be on media or blogging or whatever it may be, that’s always good to get the attention of investors, but potentially even users and customers for your product.

[00:27:15] Right. And so I think being able to create that virality around your product or company can really, really open a lot of doors for newer entrepreneurs.

[00:27:24] Luke: That’s awesome. Don’t hold back people, social proof, right? no, that’s great. I mean, you’ve been super gracious with your time, Elton, and we really appreciate it.

[00:27:33] Is there anything we didn’t cover that you want to get out there for people?

[00:27:38] Elton: No, I would just say like for particularly for founders, if you’re building something interesting, always feel free to reach out, would love to chat and ideate on ideas. And I would say. You know, for founders, like I said on the last point, like get out there and share what you’re building and good things follow from that.

[00:27:54] So.

[00:27:55] Luke: Awesome. Where can people find you or Propel if they’re, they’re looking to follow what you [00:28:00] guys are up to?

[00:28:01] Elton: Yeah, sure. So Propel’s website is, propel. vc. Feel free to check out the work that we’re doing there. I’m on Twitter under 0xelton. I check my DMs, so feel free to shoot me a note anytime. And my email is elton at propel.

[00:28:14] vc for those that want to get in touch. So.

[00:28:17] Luke: Awesome man. Well, Elton, I really appreciate you coming on and giving us your time today. Love to have you back too to check in on how things are going in the future, man. Really appreciate it. Thanks for dropping by.

[00:28:26] Elton: Thank you.

[00:28:26] Luke: All right, man. Have a good one. You too.

[00:28:28] Thanks for listening to the Brave Technologist podcast. To never miss an episode, make sure you hit follow in your podcast app. If you haven’t already made the switch to the Brave browser, you can download it for free today at brave. com. And start using Brave Search, which enables you to search the web privately.

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Show Notes

In this episode of The Brave Technologist Podcast, we discuss:

  • Why Propel is focused on Latin American countries like Brazil and Argentina as a result of the slower adoption of new payment standards in the US
  • The diversity offered by specialized blockchains, and how AI makes smart contracts even smarter
  • Practical advice for early-stage founders and engineers seeking investment

Guest List

The amazing cast and crew:

  • Elton Chang - Investor at Propel

    Elton Chang is an investor at Propel*, an early stage venture capital fund based in San Francisco. Propel invests in the “new financial economy”—that is, companies that enable, accelerate, deliver, and secure the future of value exchange. Propel is particularly focusing on AI and crypto as two frontier technologies to help update the financial system.

    • Propel is a Registered Investment Advisor, and Elton’s comments are not investment advice.

About the Show

Shedding light on the opportunities and challenges of emerging tech. To make it digestible, less scary, and more approachable for all!
Join us as we embark on a mission to demystify artificial intelligence, challenge the status quo, and empower everyday people to embrace the digital revolution. Whether you’re a tech enthusiast, a curious mind, or an industry professional, this podcast invites you to join the conversation and explore the future of AI together.