Tell us a bit about yourself.

My name is Claristy and I am the Operations and Growth Lead for Luno. Luno is a global digital currency platform that operates in 40 countries across Asia, Africa, and Europe. We aim to help people to buy, store, and learn Bitcoin and digital assets easily and securely. In Indonesia, I manage the day-to-day activities and operations to ensure that the business is growing smoothly. I joined Luno around two years ago. Initially I never thought I’d be in this industry – digital assets, digital currency, cryptocurrency, and blockchain – they are all really new to me. You wouldn’t see a lot of people in these industries yet, but I’m really happy to be one of them.

How did you get to where you are today?

So when I was in college, I was learning about public relations, communications – working in that field was my absolute goal. I wanted to work as PR at big, global companies: representing them, speaking for them, talking to media, et cetera. But when I interned at a PR agency, I learned that a lot of things that I thought what PR was about is not what they were. Maybe I was just being really innocent, but I thought PR was something really pure – like you’re representing the company, connecting with the community & the people so they will understand your vision. That is, until I heard of this motto in the PR industry: “We are not lying, we are just telling the truth that we want to tell.”  Yes, You’re not actually lying, but I feel like that means you’re not actually being honest with what you’re doing either. I believe not every PR or company works like that, but after seeing more cases around me realize that this is not what I wanted anymore.

So I decided to look for the other industry or division that I might have interest in. It was close my graduation so I had that pressure of ‘finding the right job that pays well’ ASAP. I was really ambitious before so I felt like it was a race with my fellow colleagues. Typical fresh grad. I found out that startups were beginning to build momentum so I tried searching for a job in one. I was actually offered a role in a local fintech company as a Digital Communication Specialist until a senior of mine, who worked with me together when I interned at GEPI, introduced me to Luno. He was trying to find somebody to work as a country analyst. I was like, “I have no idea what Bitcoin or digital currency is, much less what being a country analyst actually means.” But he told me that I can do a lot of things in Luno. I can work on operations, marketing, advertising, community engagement, and I can also speak to customers, interact with media – a lot of things. I’d be basically assisting the country head to make sure things run smoothly in Indonesia.

But I was still unsure. At the time, everyone thought Bitcoin was all about buying narcotics on the black market, funding terrorism, and money laundering. And I had nobody to ask about these things because not a lot of people were knowledgeable about the topic. So I spoke to the CEO of Luno, Marcus, who explained what Bitcoin was to me. He made me confident that I would grow a lot in Luno, and I love how humble he was (and still is). I was a fresh grad after all, but there was never a moment he underestimated me and that to know that somebody believed in my ability to give value to the company – I decided to go with this offer. So that’s how I jumped into this industry and got the chance. And now I’m really glad that I’m one of the people who knew about it before others did.

Can you explain a bit more about what Bitcoin is exactly? What’s so special about it?

Basically, Bitcoin is a technology that allows a cheaper, more efficient, and more effective money transfer between two parties. People call it a currency because it works like money, but it’s actually a new technology that facilitates the exchange of money. And it affects money just like the Internet affected information back in the 90s. But the difference is that back in the 90s when you knew that the Internet was going to change information systems, you could not actually invest in that technology – even if you believed that it would revolutionize something big. But for Bitcoin – you can actually invest in the technology. That’s why people are buying Bitcoin and other tokens. Currently, we see people using Bitcoin as investment vehicle rather than a currency. People don’t use it to pay things yet, but that will happen in the future.

What’s are some challenges currently faced in the Bitcoin industry?

I think the huge challenge is that you have to educate a lot of people about what exactly Bitcoin is. Of course there will be people who will misuse the technology, but there will be a lot of positive things that will happen because of Bitcoin as well.

And it’s not just about educating current Bitcoin users, but also people who want to do something with the industry – people who want to work on Blockchain or in the Bitcoin industry but haven’t yet. I really appreciate the people who educate themselves on Bitcoin and dive into the industry. But a lot of people will choose the safer route rather than this new industry.

What are some interesting use cases that you’re excited about in the Bitcoin and Blockchain industries?

An interesting use case of Blockchain is for elections, or say, voting – storing data or information of voters before they vote, and storing the vote that they give. This will diminish the possibility of a third party intervention making the data unreliable. It’s something that people are trying to encourage governments or even companies to implement.

The other intriguing use case is that I can create a contract between you and me without having a notary or third party helping us. We can store all information in the Blockchain and the contract will run automatically. It will read whether you give me the payment when I give you the service, and whether I really give you the service or not. This will make it more efficient and effective for two people to do something without a third party. Less cost, more efficiency.

For Bitcoin, it would be international money transfer. For example, if I need South African Rand I would have to buy US dollars first here, because Rand isn’t available in any money changer in Indonesia. I will then need to bring this USD to South Africa to exchange it. Hence, there will be double rates differences and fees I need to pay – not to mention the hassle of going through this whole process.  If I do it by bank or internet banking, the bank will charge me fees.But with Bitcoin, I can send money instantly after exchanging it to Bitcoin, so it will be cheaper and faster. So Bitcoin actually allows for a cheaper and more efficient cross-border money transfer.

How is the Bitcoin industry like for women?

Actually, I only know three or four Indonesian women in this industry outside of my company, as there are not many companies in Bitcoin. At Luno, 40% of our company members are women. Everyone is equal here.

Sometimes I feel like I’m even a bit better because naturally women are better at details, right? For example when we have event, women will be looking at the details to ensure nothing is missed and that things will run smoothly. And as our industry involves people’s money, we need to build trust and relationships with customers. So if a Bitcoin company has women working on this, I believe it may work better. Women have a way with communicating with empathy and feeling more, that the social skills will help us in speaking to customers.So I think all companies should have women, especially those in the fintech space.

Yet I think a lot of women in general are not in the industry yet because first, it’s a very new industry and people – they tend to lean to something safer like fast-moving consumer goods (FMCGs) or multinational corporations, etc. – something that everybody knows about. Digital assets aren’t something that everyone knows about, right? I hope that women can be brave in this industry because I think it’s just as welcoming as any other industry.

Have you faced any challenges yourself as a woman in this industry?

There’s this funny thing that happened to me when I met a bank manager for work. I think it’s because I’m young and a woman, and he didn’t expect an operations lead at Luno to be this young and to be female. When he first saw me, his facial expression translated how shocked he was. Like he looked so — I really think he was looking down on me. I was laughing in my head because his facial expression really showed it all!

So this is one tip for people who think they are too young or feel inferior in given situations. For me, I just wait until I have the chance to blurt out everything that I have prepared in my head. In this case, I just started explaining after he finished his questions, “Oh yes we do know risk scoring, API, sanction list, and this is what we do…”. And that is when I saw his facial expression started to change. He began to smile and became more welcoming. He stopped investigating me and started promoting his own product. So that’s one funny situation where I was looked down upon as a young woman in this industry.

Do you see any notable Bitcoin trends in Indonesia?

I think for Indonesians, it’s hard for us to take risk compared to other companies. We need someone to take us along the process to try new things. I think that’s how Bitcoin users in Indonesia are different from those in other countries. For example, Luno’s app is built to be intuitive and it is the same for all users around the world, but for Indonesia we have to add a special segment that actually explains the process of depositing money or sending Bitcoin or something like that. A lot of users will send us tickets or questions via social media to reach us asking us to explain step by step. That’s why in Indonesia we do community meetups to explain how we do things. We also do webinars, events, Youtube videos, step-by-step responses, and others. We don’t really do this in any other country — even if we do, it’s less than what we do here. We need to be more passionate, careful, and detailed in the Indonesian market. But to be honest, the whole process is actually more rewarding. Indonesians tend to be more thankful when they know you are there, together with them, and you have helped them going through this process of upgrading themselves to a better financial world.

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