Top 10 Women Leaders in Blockchain Technology to Follow in 2022

ISSN 2582-127X

JANUARY 2022

Women in Blockchain: Crypto Market is No Longer a Men-Only Business

How Will Blockchain Revolutionize the World in 2022 and Beyond?

TOP

WOMEN LEADER IN

BLOCKCHAIN TO FOLLOW IN 2022

EDITORIAL A

t present, the advocates for blockchain

general, the lack of women in the blockchain market —

technologies – who note that it could facilitate

until 2018 — can be explained by the historical

social good – are nevertheless troubled by the

dominance of men in the tech, financial and scientific

lack of diversity in the blockchain community. Blockchain

industries, whereas the number of women, although

conferences and panels consistently fail to include

growing, is still far from being equal. In these areas,

women as speakers. This culture caters to an emerging

women compose 10%–30% of the total workforce.

class of “blockchain bros” and an environment that many

While bitcoin was initially built around encouraging

women find hostile and disappointing. According to

financial equity, 75 percent of crypto holders are men,

some studies, women account for only 4 to 6 percent of

according to a 2021 State of U.S. Crypto report. Gender

blockchain investors.

disparities have dogged the financial services industry f o r g e n e ra t i o n s , b u t m a ny p e o p l e h o p e d t h a t

Some have hailed the arrival of blockchain as a panacea,

cryptocurrency would usher a new era of diversity into

which will solve everything from the healthcare system

the world of finance.

to supply chain transparency. Blockchain certainly holds the potential to provide a form of leapfrog technology for

However, in the world of blockchain, there have been

women in developing countries. For example, Facebook

more and more women mastering new professions:

claims that Libra, the cryptocurrency it is developing, will

investors, traders, analysts, developers, journalists and

assist in “banking the poor” and extending financial

even heads of companies. Notably, few people know that

services to those in remote areas, and beyond the reach

there are now more women holding leadership positions

of traditional banking services. But in reality, blockchain

in the blockchain and crypto industry than in Silicon

is just like any other new technology—its applications

Valley. Leading crypto companies such as Bancor and

will only be as diverse and innovative as its creators.

Binance are clear proof of this, with 40%–50% of

Unless blockchain developers address the diversity

employees being women — and perhaps the latter's

problem, these promising new technologies risk

success is indeed partially due to this fact. The

benefiting only a select few and entrenching, rather than

dominance of women in blockchain should grow at a

upending, inequality.

faster pace to ensure the overall improvement of the blockchain landscape.

Until 2018, the cryptocurrency industry was almost absent of women — but male crypto enthusiasts created their brotherhood with private conferences and meetups. At one such conference held in Japan in 2018, only two of the 42 participants were women. And in the United States, one conference was held at a strip club. In

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Jaime Leverton Hut 8 Mining Corp

16

10

Mary Hall CipherTrace

ELAINE WEIDMAN-GRUNEWALD AI Sustainability Center

24

ARTICLES 22

Women in Blockchain: Crypto Market is No Longer a Men-Only Business

52

How Will Blockchain Revolutionize the World in 2022 and Beyond?

Rachel Gabato Ripe.io

38

Denise Sangster Global Touch

Daniela Raviales Bunker DB

54

30

Liliana Petrova The Petrova Experience

44

Mary Hall

Jaime Leverton

Senior Director of Product Marke ng

CEO

CipherTrace Mary Hall is the Senior Director of Product Marke ng at CipherTrace.

She has been working in the blockchain industry since 2015 when she was employed at IBM. She considers herself very fortunate to work alongside people who were the early adopters of blockchain technology. The experience helped her understand the value of the technology for enabling real- me collabora on and sharing data with permissioned users in real- me.

Hut 8 Mining Corp Jaime Leverton, the Chief Execu ve Officer (CEO) of Hut 8 Mining Corp, is the leader behind this booming company. Jaime joined Hut 8 in December 2020. She started her career in technology and found herself fortunate to receive significant and challenging opportuni es that helped her to build a reputa on as a turnaround expert. Before stepping in as CEO of Hut 8, Jaime served in leadership posi ons in Canada.

TOP

WOMEN

LEADER IN

BLOCKCHAIN TO FOLLOW IN 2022

www.ciphertrace.com

www.hut8mining.com

Elaine Weidman-Grunewald

Rachel Gabato

Denise Sangster

Elena Spagnuolo

COO

President & CEO

Chief Business Officer

Co-Founder

Ripe.io

Global Touch

Bunker DB

AI Sustainability Center

Rachel Gabato is the COO at Ripe.io.

She holds a business management and marke ng degree with a minor in communica ons from Cornell University. She has a knack for understanding the role technology playing in many different industries.

Her experience in technology product development, leadership management, and advisory roles, helped Rachel to grow her career and become the COO of ripe.io.

Denise Sangster is the President and CEO of Global Touch. She founded the company in 1990 a er working for a database so ware company in Silicon Valley as the Head of interna onal (non-US) partners. Denise started working globally in the early stage of tech boom when there were a limited number of American women working in the IT industry in North America-focused middle management or senior management roles.

Elena Spagnuolo is the Chief Business Officer of Bunker DB. Her journey started 20 years ago while she set out to study Graphic Design.

At that moment, web design wasn‘t part of the degree, but her college offered a workshop on building a website. This was enough to spark an interest in her and got her excited to be part of the “digital world." This further drove Elena to specialize more in this field while taking some freelance jobs.

www.ripe.io

www.globaltouch.com

wwwbunkerdb.com

Liliana Petrova

Rebecca Liao

Elizabeth Stark

Piper Moretti

Founder & CEO

Co-Founder & Advisor

Co-Founder & CEO

CEO

The Petrova Experience

Skuchain

Lightning Labs

The Crypto Realty Group

Elizabeth Stark is Co-Founder and CEO of Lightning Labs, where she is building a programmable financial layer for the internet through fast, scalable blockchain transac ons. She is also a fellow at Coin Center, the leading digital currency policy organiza on, and an advisor at Chia.

Elizabeth previously taught at Stanford and Yale University about the future of the internet and was a visi ng fellow at Yale’s Informa on Society Project.

Piper More is the CEO of The Crypto Realty Group, a Los Angelesbased firm specializing in conduc ng real estate transac ons with cryptocurrency and the only REALTOR® in California who has completed 5 bitcoin transac ons to date. She is Chair of the Los Angeles chapter of the Interna onal Blockchain Real Estate Associa on, a trusted advisor to Ubitquity.io, and a member of the Real Estate Crypto Alliance for Propy.com.

www.lightning.engineering

www.thecryptorealtygroup.com

Elaine Weidman-Grunewald is the Founder of the AI Sustainability Center together with Anna Felländer. Both the founders are very opera onal and wear many hats. This ranges from talent management and recruitment to balancing budgets, sales and marke ng to product development and innova on. Elaine has spent 20 years working in a large mul na onal environment, but then le and took the acquired skills to a startup. www.aisustainability.org

Liliana Petrova is the Founder and CEO of The Petrova Experience.

Her journey includes being on Wall Street during the liquidity crisis and managing Royal Bank of Canada’s balance sheet. It includes ge ng an MBA from one of the most iconic schools in New York and building an impac ul career in the avia on world. Liliana founded the company with the aim to make things be er.

www,thepetrovaexperience.com

Rebecca Liao is Co-Founder, Advisor and former COO at Skuchain, a currency agnos c blockchain for global trade and a World Economic Forum Tech Pioneer for 2019. She is currently Advisor to Sommelier Protocol, where she is designing their DAO to op mize for governance, pla orm growth & regulatory compliance. She is also a Fellow at the Stanford Program in Law, Science and Technology, where her work focuses on tech policy. www.skuchain.com

Jaime Leverton CEO Hut 8 Mining Corp

10

Navigating the Complexities of Blockchain through Disruptive Strategies and Innovative Techniques

T

he rapid progress of blockchain technology is

fortunate to have been given significant and challenging

showing no signs of slowing down. In the past few

opportunities that helped her to build a reputation as a

decades, several phenomena of blockchain made

turnaround expert with a notable focus on data centres

the impossible possible. One pioneering company that is

and infrastructure. Before stepping in as CEO of Hut 8,

leading the blockchain and digital currency mining

Jaime served in a number of increasingly senior

industry is Hut 8 Mining Corp. Hut 8 is a proudly

leadership positions at some of Canada's leading

Canadian company and one of North America's largest

technology companies and was often tasked with

and most established digital asset miners. The company

spearheading large-scale strategic transformations.

has been leading innovation and championing open,

Jaime enunciates that her career has provided her with

decentralized systems since 2018. With two sites

varied experience across traditional finance, tech, data

located in the energy-rich Alberta and a third site

centres, and crypto and allowed her to build key

underway in North Bay, Ontario, Hut 8 has one of the

competencies that are valuable to her role as Hut 8 CEO

highest installed capacity rates in the industry and holds

today as the only woman in the crypto industry with her

more self-mined Bitcoin than any crypto miners or

level of expertise in data centres and infrastructure

publicly-traded companies globally.

turnaround. She aims to leverage her unique perspective on digital and financial industries to build strategies that

An Experienced Leader with a Growth-Paced

will support and propel Hut 8's fast-paced growth

Trajectory

trajectory. The team at Hut 8 is defining the crypto

Jaime Leverton, the Chief Executive Officer (CEO) of Hut

revolution and creating value for generations to come

8 Mining Corp, is the leader behind this booming

through a mixture of innovation, imagination and

company. Jaime joined Hut 8 in December 2020. She

passion, along with a balance-sheet-first-approach of the

started her career in technology and found herself

company's business decisions.

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“ Be authentic, trust in your gut, embrace change and get comfortable with uncertainty.

“ Jaime Leverton CEO Hut 8 Mining Corp

www.hut8mining.com

12

Breaking the Glass Ceiling in Blockchain

first to go when it is time to trim a budget. Nevertheless,

Jaime says that her greatest achievement has always

she accepted a position at IBM as a leader of the new

been the incredible teams she has built and worked with,

Digital Media Emerging Business Opportunities (EBO)

including the current leadership team at Hut 8. Every

team. This was the first time where Jaime was

day, she gets to work with spectacularly talented and

responsible for the activities across all of Canada, rather

motivated experts who share the same ambitions as her

than regional executions and the program was a huge

and 50% of them are women, which is not something

success. Jaime recalls that since the new EBO division

anyone sees often in the crypto and Bitcoin industry, let

operated outside the traditional IBM structure, her small

alone in business.

team had the freedom to operate nimbly in the emerging

As one of the far too few women leading a publicly-

categories of digital signage and digital merchandising.

traded company, Jaime takes great pride in serving as an

This first encounter with a high-risk, high-reward

example for other women who may not have been able to

situation allowed her to get comfortable with

imagine themselves in her position, particularly when it

uncertainty.

comes to crypto: a tech segment known for an acute lack

In 2014, Jaime went on to join BlackBerry at a time when

of gender diversity.

many people were leaving the company. "People told me I

When she first started her career in technology, there

was crazy to make the move, but I was attracted to the

were very few women in the industry and it was a

opportunity that BlackBerry represented. The business

challenge. Jaime was instructed to act and dress in

was at a critical moment and diving in headfirst was not

certain ways in order to be taken seriously. That advice,

an easy choice, but it offered great potential for success,"

though well-meaning, was wrong and it was through

says Jamie.

these experiences that Jaime learnt her most valuable

At the time, the CEOs of Blackberry and T-Mobile were in

lesson: “be authentic, trust in the gut, embrace change

a bitter, high-profile feud, which escalated so far that the

and get comfortable with uncertainty.”

two organizations had dissolved their business

Jaime thinks this advice applies to any leader or industry,

agreement. She knew a strong relationship with T-

but it seems especially fitting when it comes to

Mobile was essential for the company's success in the

cryptocurrency. “Embracing technology is all about

U.S. and took on the task of repairing the relationship. It

embracing change. It is about challenging the status quo

was a high-profile negotiation that, if unsuccessful,

by accepting new ways of doing things, new ways of

would be a black mark on one's professional career. She

thinking about the world, and new ways of doing

could not ask someone else to do it, so she herself led the

business. Most often, reward follows a certain level of

successful negotiations on behalf of Blackberry for six

risk,” she claims.

months.

Jaime claims that these challenges helped her develop

Envisaging the Market Challenges to Gain Experience

early on in her professional career and made her realize

Jaime confesses that she fell in love with technology at an

the passion she has for leading bold change and

early age and continued to follow that path throughout

transformation within companies. Jaime actively began

her education and then into her professional life. After

to seek out those roles right up to the one she holds

completing her MBA, she took on the first role in her

today.

technology career: Inside Sales at IBM Canada Ltd. She adds that later, she went on to make new and

Leaders Should Dive in and Get Creative in the Tech

potentially riskier moves. New divisions are often the

Industry

13

Jaime states that inclusivity, creativity, and passion are

The Future Ahead: Looking Beyond Cryptocurrency

the three vital attributes of becoming a leader.

Jaime utters that the company's executive leadership

“Leadership is giving everyone a voice and bringing

team has big goals for Hut 8. It aspires to not only become

energizing passion to one's work that can serve as an

a leading Bitcoin miner but also a great tech innovator

example. We lose when diverse perspectives are

serving as the bridge between traditional and nascent

undervalued or simply not present,” asserts Jamie. She

iterations of the high-performance compute. Hut 8

believes that great leaders do not always come up with

wants to lead innovative solutions with the potential to

the big ideas but they do know what to do with them once

scale beyond cryptocurrency to shape and advance

they are heard. Jamie feels that leaders in this field

other industries.

should know how to work with a team and how to use

In the early days of cryptocurrency, the social discussion

their voices to create a positive impact in the tech

was centred around Bitcoin and crypto replacing fiat

industry. She further adds on to say that the blockchain

currencies as the currency of the future, says Jaime. But

industry is moving at a fast pace which means its leaders

the industry is actually witnessing Bitcoin as a growing

must always be ready to dive in and get creative about

asset class, the fundamental infrastructure driving web

whatever it throws their way.

3.0 and decentralized finance, and potentially as a source of diversification in investment portfolios that is

Innovating to Support Greater Adoption of Bitcoin

increasingly considered as the digital gold as a hedge

Jaime reveals that Hut 8 is unique as a miner; the team

against inflation.

serve as minters of the reserve currency of Web 3.0 and

She adds that Hut 8's team believes Bitcoin will continue

decentralized systems. Further, they provide the actual

to grow in value and as Jaime mentioned before, it will

infrastructure as the metaphorical picks and shovels for

ultimately converge with traditional finance in a way that

the growing Web 3.0 industry. The company provides

creates a more efficient and an equitable system - with

value through the appreciation of the substantial Bitcoin

Hut 8 playing a distinct role in that convergence.

holdings in its balance sheet, which means it takes the burden of protecting digital assets for the investors.

Words of Wisdom for Future Tech Leaders

She highlights that the innovation carried out at Hut 8

Jaime articulates that the industry is at a critical moment

aims to drive the industry as a whole forward and

and believes that today's innovation within the industry

support greater adoption of Bitcoin. Right now, the team

will shape the future for years to come. Her advice to the

is focused on driving responsible mining in a way that

leaders is to take the opportunity in front and to think

creates sustainable and enduring value for the

about the big picture by making bold moves with a

shareholders, stakeholders and the global environment.

future-forward lens,keeping the desired standards for

Jaime says that Hut 8 believes in Bitcoin as an asset class

the future as a top consideration in every leadership

and in the asset's ultimate convergence with traditional

decision they make today.

finance - and it's her intention with Hut 8 to play a

“The nascent nature of the industry offers leaders the

leadership role in bridging that gap. For that reason,

opportunity to correct some of the weaknesses in the

another focus of the company's innovation is to develop

traditional methods. Strong advocacy for diversity in the

solutions that facilitate the merger of old and new to

industry is important now to ensure the people leading it

shape a stronger digital future and bolster North

in the future align with the tenants of Bitcoin:

America's share in the tech innovation globally.

sovereignty and equality for all,” concludes Jamie.

14

Mary Hall Sr. Director of Product Marketing and Head of Marketing

CipherTrace

16

An innovative Blockchain leader sharing use cases & best practices

B

lockchain is a technology with an exceptionally

time collaboration and sharing data with permissioned

varied set of potential uses. It delivers a high

users in real-time.

level of security, enables secure collaboration

and is tamper-evident. It is alternative to many legacy

Empowering the Decentralized Ecosystem with

systems. Blockchain technolcogy is revolutionizing in

Extensive Learning

many industry verticals, including supply chain,

Mary shares that working directly with customers and

healthcare and financial services. While cryptocurrency

listening to their experiences with technology has been a

transactions and market capitalizations have been

game-changer. She learned a lot about using blockchain

popular in the mass media, other non-cryptocurrency

for sustainability, product authentication, expediting

institutions like social networks, entertainment and

supply chain issues and finally, accelerating business

gaming are moving to incorporate blockchain in full

processes, especially in the finance industry. Mary has

swing. A leader in this sector is Mary Hall, who has

also worked on a few 'blockchain for social good'

worked at leading technology companies including

initiatives that helped her gain knowledge of blockchain

Oracle and IBM.

and the various ways it can help to solve societal problems, starting from tracking COVID-19 outbreaks

An Experienced Leader

to developing health monitoring for individuals and

Mary has been working in the blockchain industry since

sharing those with medical personnel and caretakers via

2015 when she was employed at IBM. She considers

mobile applications.

herself very fortunate to work alongside some talented

“There have been some great initiatives carried out to

developers and customers who were the early adopters

verify the authenticity of goods to stop consumers from

of blockchain technology. The experience helped her

being deceived by fake products, whether they are

understand the value of the technology for enabling real-

fashion items or food products. With blockchain

17

“ A true passion for the technology and involvement with users of the tech is important so that the influencer can discuss real-world results and benefits of using blockchain.

“ Mary Hall Sr. Director of Product Marketing and Head of Marketing CipherTrace w w w. l i n k e d i n . c o m / i n /m a r y c h a l l w w w. t w i t t e r . c o m /s y s t e m s a n d t e c h

18

applications, consumers can now scan bar codes on

more users can collaborate wherever they are in the

products to get detailed descriptions of ingredients and

world and share data with the appropriate permissions.

their authenticity using mobile apps,” adds Mary.

Blockchain and artificial intelligence can be intertwined to deliver better customer service in a variety of

Developing a Business Plan as the Foundation for

industries. Blockchain makes reliable data available, and

Progress

AI can help automate decision-making based on that

Blockchain was a brand-new technology when Mary

data. "It is a very powerful combination," states Mary.

started working on it in 2015. There were a lot of misconceptions about the value of blockchain

The Evolution of Blockchain & Crypto Technologies

implementations and how long it would take for a proof-

Mary thinks that the adoption of blockchain and

of-concept to be set up and achieve measurable goals.

cryptocurrency technologies is going to continue and

She always recommends that implementers should

expand further, especially as the pandemic has

initially start with developing a business plan with goals

accelerated the use of online, digital systems and mobile

before they start working on blockchain projects. “It is

applications. “Blockchain is changing the way we do

also essential for C-Suite and developers to work

business and is transforming the methods of payments

together on building that plan so there is organization

and transactions for the future. It is also changing the

agreement on the goals they want to achieve before they

ways consumers evaluate and buy products,” expresses

start the project,” notes Mary.

Mary. Nowadays, customers can verify the ways their clothing and food are prepared, and if it does not meet

Passion and Involvement Makes a Perfect Influencer

their standards, they can adjust by buying different

Mary has a true passion towards blockchain technology

products that meets their values. “With blockchain

and an involvement with the users of the tech. She has

systems, organizations can eliminate paper-based

written blogs and use cases to share the real-world

processes and leverage legacy systems so that reliable

r e s u l t s a n d b e n e fi t s o f u s i n g b l o c kc h a i n . H e r

data can be accessible and easily shared among

communication skills have made her an early evangelist

permissioned parties,” says Mary.

in the benefits of blockchain She has spoken at leading events (SXWX) and is active user of social media . These

The Key to Success: Staying Close to Customers

platforms have been an essential way for her to share her

Mary advises the emerging leaders and entrepreneurs to

knowledge with others in the tech community.

stay close to customers and participate in blockchain consortiums, including Hyperledger and others. “It is

Entwining Blockchain and AI to Deliver Better Service

crucial to keep learning and understanding use cases”

Mary believes that blockchain is one of several

expresses Mary. She also adds that it is absolutely

transformational technologies that have accelerated the

important to stay up to date on the current industry

pace of innovation. With blockchain hosted in the cloud,

developments.

19

WOMEN IN

BLOCKCHAIN

CRYPTO MARKET IS NO LONGER A MEN-ONLY BUSINESS 22

B

reaking the stereotype a recent study showed that 43 percent of respondents interested in Bitcoin investments turned out to be women. In this modern tech-driven world, half of Binance's employees are women and in India, women make up the majority of crypto investors. Even though crypto is male-dominated, some women are involved and using their talents to open up the space. Is it gender equality or still blockchain technology is a men's business?

What Is Cryptocurrency and Blockchain Technology?

Cryptocurrencies are digital assets that are secured by cryptography and registered on a public blockchain. A blockchain is a distributed ledger that records transactions publicly and securely. Because it is distributed, it is not managed by a centralized entity, such as a bank or technology company. Blockchain technology eliminates the middleman, allowing transactions to occur directly between two people. The most prominent cryptocurrencies, like bitcoin, have focused on payments, but blockchain technology can be used to facilitate computation, storage, and many other cases. This technology has the potential to revolutionize many elements of human lives, in finance and beyond, though some are skeptical of its long-term viability.

No Place for Women in Tech Until 2018 Until 2018, women played only a minor role in shaping the applications of blockchain technology — but male crypto enthusiasts created their brotherhood with private conferences and meetups. As per the reports, 378 venturebacked cryptocurrency startups were founded between 2012 and 2018 only 8.5 percent were founded or cofounded by a woman. In the tech sector as a whole, twice as many startups have a woman on the founding team—still l o w, a t 1 7 . 7 p e r c e n t , b u t m u c h b e t t e r t h a n i n cryptocurrencies.

In general, the lack of women in the blockchain market — until 2018 — can be explained by the historical dominance of men in the tech, financial and scientific industries, whereas the number of women, although growing, is still far from being equal. In these areas, women compose 10%–30% of the total workforce. A large percentage of women believe that financial independence is of utmost importance to them. Yet if you look around the cryptocurrency space, women comprise a small percentage of the crypto space.

The Rise of Women in the Crypto World Now things in the blockchain and crypto industry are changing for good as more women are mastering new professions like investors, traders, analysts, developers, journalists, and even heads of companies. The year 2020 was phenomenal for the crypto space in India. After the Supreme Court clarified the legality of the asset class, it saw a steady rise in women investors entering the field. One can say that that there are more women holding leadership positions in the blockchain and crypto industry at present than in Silicon Valley. Many projects created by women are not only competitive with those created by men but also can outperform their peers. As the data suggests, the number of women in blockchain technology has grown from 8% to 12% in the past two years. Even the number of female blockchain and cryptocurrencies writers is increasing on a high scale, which is also notable as tech is not the men's pool table anymore.

Community is a core concept in the cryptocurrency space, especially when businesses start or are in the stages of an ICO (initial coin offering). ICOs are initiated when a group decides to start a cryptocurrency business and develop a product or service in the space, selling coins or tokens to raise funds for specific projects. These coins or tokens are made to serve a function in the proposed project. And who is better than a woman to build a strong community.

Why are Women the Better Crypto Investors?

Women are Savers A recent study revealed that women hold about 8.3 percent of their income into savings (men save only 7.9 percent of their income). More savings means that women have more power to diversify their investments into high-return assets like cryptocurrencies.

Women are More Successful Investors Women tend to evaluate risks in almost everything and mitigate them in the best way possible. According to research female investors tend to weigh risks before investing in an asset class. Hence, female investors can be more analytical with their investments. While investing in a volatile market such as crypto, their cautiousness nudges them into making the right decision.

23

ELAINE WEIDMAN-GRUNEWALD Founder

AI Sustainability Center

24

ENCOURAGING SUSTAINABILITY LEADERSHIP WITH INSPIRING ATTRIBUTES OF PROGRESS

A

rtificial intelligence is maturing rapidly as an

center offers “The AI Ethical Risk Profiler” which scans

incredibly powerful technology with seemingly

potential exposure to ethical risks in an organization and

limitless application. While AI is proliferating

in specific AI applications.

fast, it also raises many concerns due to its potentially disruptive impact. Discrimination, privacy intrusion, and

A Transformational Leader

social exclusion resulting from the use of AI are occurring

Elaine Weidman-Grunewald is Founder of the AI

more frequently without updated regulation or practical

Sustainability Center together with Anna Felländer. At

tools to avoid or mitigate it.

this stage, both founders are very operational and

One company which focuses on the scaling of AI in a

wearing many hats. This ranges from talent management

broader ethical and societal context for its accountable

and recruitment to balancing budgets, sales and

use is the AI Sustainability Center. The company was

marketing to product development and innovation.

created to help organizations not only choose a fair

Sharing her life experience, Elaine says, “in addition to

approach to AI but to also provide practical tools to

gaining practical business or technical skills, all women

detect, measure, and govern societal and ethical risks in

should learn how to effectively communicate and

AI and data-driven solutions.

debate. No matter what career path you choose, being

The AI Sustainability Center works with clients and

able to express yourself will always be an important

partners both from the private and public sectors,

asset.” She also suggests building a “coalition of the

ensuring human values are at the core of technology

willing,” especially if one is in a role that requires change

decisions. The Center's partners and clients gain a

management. “If you have a vision, make others part of

competitive edge by learning to act proactively and use

it!”

AI in a sustainable and responsible way. For example the

As an advice for choosing a career path, Elaine says, “Try 25

“ Don’t work for an employer where their values don’t align with yours, that will never be a wining formula.

“ Elaine Weidman-Grunewald Founder AI Sustainability Cente

www.aisustainability.org

26

d i f f e r e n t t h i n g s . I h ave b e e n i n N G O s , l a r g e

challenging. Yet, the perspective that she adds to

multinationals, and startups. When you experiment, you

technical teams has been her edge and a true value-add.

can find your strengths and weaknesses, but also your

Being a woman in a male-dominated industry is another

passions and where you can have an impact. And don't be

challenge Elaine faced during her journey. In tech and

afraid of change.”

telecom, a ratio of 80% men and 20% women is often the

Elaine has spent 20 years working in a large multinational

norm, and it can be difficult to find female role models.

environment, but then left and took the acquired skills to

Moreover, taking time out to have children can set you

a startup. “In a large organization, people learn the rules

back years compared to male colleagues,” comments

of the game, politics, governance, the complexity of the

Elaine. “I consider myself lucky to have had my children in

world. It can be exhilarating to take those skills to a

Sweden, a country with incredibly generous parental

different environment, where people can execute

leave packages. I had the financial support, but still, it was

assignments quickly and not have the bureaucracy,” she

a three year pause from my work life. I would like to see a

says.

solution where we could level the playing field and

Elaine's greatest achievement of late is completing a

minimize such impacts on a woman's career.”

book, Sustainability Leadership, a Swedish Approach to Changing Your Company,Your Industry, and the World.

Vision and Audacity: Vital for Excellence

Elaine wrote this book together with Henrik Henriksson,

According to Elaine, a sense of purpose, a vision and an

the CEO of Scania. In the book they reveal Sweden's

ability to dare are vital attributes of a transformational

“secret sauce” for sustainability and share their own

leader. She adds that leaders should not get distracted

perspectives as well as those of some 25 CEOs and

and go too broad. “Leaders need to stay focused on

experts. The book will be available on the market in

results and getting things done. Set goals and deliver on

September 2020.

them, and keep pushing forward.”

She also adds “There are two sides to every coin – be sure

A n E xe m p l a r y Pe r s p e c t i ve t o w a r d s I n d u s t r y

to understand both. For example, I worked for years

Challenges

developing the platform to illustrate the positive impact

When asked about her greatest career challenges, for

that mobile communication can have on society. We

Elaine, not being an engineer in a technical field was

called it Tech for Good and billions of people benefited.

27

But I learned it is also important to work actively to

that responsibly when it comes to the deployment of

prevent “Tech for Bad. That's where I am focused today.”

technology driven solutions.

In that respect, the world is seeing more and more cases of surveillance, privacy intrusion, amplified

'The Next Sustainability Frontier is Digital'

discrimination, and bias, in technology driven solutions.

Every organization is digitalizing – either in order to gain

That is what led to the creation of the AI Sustainability

efficiencies and reduce costs through automation or to

Center.

seize new revenue streams and tailored client relations.

“Digitalization means people need to think differently,

Whether it is a big tech company, finance, health, or

both in terms of the exponential benefits like revenue

public sector or NGO, everything is going digital, but

growth or cost savings, but it = also means they have a

there are different degrees of digital maturity. According

new exponential risk landscape. All future leaders should

to Elaine, she wants to see a future where leaders work to

have the ability to grasp both.”

create a movement where sustainable AI is the norm, not the exception. Just as leaders need to grapple with

Seeking New Possibilities to Innovate

climate change and other environmental and social

The AI Sustainability Center's products, such as the AI

challenges, she definitely predicts that “The next

Sustainability Center's Ethical Risk Profiler and the AI

sustainability frontier will be digital, whereby risks like

Sustainability Center Framework, focus on solving real

privacy intrusion and amplified discrimination will

challenges that companies face with technology

increasingly come under scrutiny. It's important to be

deployment. The center tries to avoid being theoretical

proactive and get ahead of that,” she says.

and focuses on practical tools built upon many years of multidisciplinary research.

An Advice to Build Concrete Skills

“All industries are digitalizing. Digital solutions have

As a piece of advice for emerging women leaders, Elaine

become the fabric of society, but there are still a lot of

says, “Women should focus on building concrete

unknowns. The AI Sustainability Center navigates in a

business or technical skills – you need to compete with

new way to find solutions that mitigate and reduce risks,

men that have been socialized for example to be better at

thereby benefiting people and society,” says Elaine.

STEM.”. She also adds “Don't work for an employer where their values don't align with yours, that will never be a

The Changing Role of Leadership in the Digital Age

wining formula”

Talking about how AI and ML is impacting today's

Elaine is active in Women in Tech and she is also on the

leadership, Elaine comments, “We need less managers

Board of International Women's Forum Sweden. She

and more leaders. Work has changed and has become

suggests all budding female leaders should be active in

more decentralized so managers need to empower the

female empowerment communities. “Women leaders

team. The more digital we become, the more self-reliant

should seek mentors and role models early on, have fun

we are as leaders, provided we know how to use the

and contribute to the industry. And they should support

tools.” Future leaders need to embrace change, but do

each other!”

28

Rachel Gabato COO

Ripe.io

30

BUILDING LONG-LASTING TRUST AND CONFIDENCE IN FOOD SUPPLY CHAINS

R

ipe.io is building long-lasting trust and

A Multi-Disciplined and Experienced Leader

confidence in the food supply chain through a

Rachel Gabato is the COO at Ripe.io. She holds a business

platform where everyone can access

management and marketing degree with a minor in

transparent and reliable information on the origin,

communications from Cornell University. She has a

journey and quality of their food. Ripe.io develops,

knack for understanding the role technology playing in

deploys and operates a blockchain–based network

many different industries. The first technology company

(SaaS) serving B2B clients in the US$150 billion global

she worked for was a global sourcing and supply chain

food logistics and supply chain industry segment. Ripe.io

software company located outside of Boston, MA. It

serves customer segments providing track and trace (for

was a startup and Rachel was the 7th employee. She

recalls and food safety), captures elements of quality

played different roles, but realized she was quite good at

(freshness, sustainability and flavor) and insures tracking

understanding business processes and challenges then

the integrity of premium payments connected to data

translating those business needs into product and

sharing and transparency. It is a team comprising of

software requirements. That was her first foray into the

supply chain experts, food scientists, blockchain

field of product management. Since then, 20+ years ago,

d e v e l o p e r s , t e c h n o l o g y exe c u t i v e s , f a r m e r s

she has been in technology in product management

sustainability specialists united by a compassion for

leadership and advisory roles, primarily retail

transparency and truth in the food system. Ripe.io was

technology focused, and those skills have allowed Rachel

formed in 2017 and received US$2.4 million in seed

to grow her career and become the COO of ripe.io.

funding by Maersk Ventures and Relish Works in August

For Rachel, accepting the role of COO was both exciting

2018. It has been named by Forbes as one of the “25 Most

and scary at the same time. While in her product

Innovative Ag Tech Startups”.

management roles, she was the “CEO” of her product or 31

“ The investment and pace of innovation with new technologies such as AI/ML, IoT and Blockchain will reshape manufacturing, supply chains and commerce. Similarly the smart phone transformed communications and mobility, these connected devices bring intelligence, automation and transparency to our food supply chains.

“ Rachel Gabato COO Ripe.io

www.ripe.io

32

suite of products, subsequently she had to translate

the CEO of a small startup. They both had different styles

those skillsets into running a company. As a startup, she

and provided different experiences. In the large

had to wear different hats and have her hands in all

company, she had to 'adopt' a corporate persona. She

aspects of the company. She is engaged in the sales

was the executive assistant to the CEO and was engaged

cycles, business development opportunities and

with senior level executives, involved in executive

partnership growth, and is directly responsible for

meetings, wrote monthly corporate summary reports,

managing, executing and delivering against customer

etc. The CEO mentored Rachel by exposing her to all

implementations and deliverables. She also has the

facets of the business. His goal was to only keep a

responsibility over product management and marketing

resource in the position for a couple of years and then

and collaborates with the UI/UX design and technology

move on to focus in a specific functional area of the

teams. Finally, she also manages the financials, HR and

company. The other experience was with a small startup

administrative functions. All in all, Rachel considers it has

where Rachel was performing sales presentations to

been a fantastic experience, where she learnt a lot from

senior leadership, running software implementation

the team members and also provided guidance and

projects and managing customers. This opportunity also

support to the team. Though being a small and agile

allowed her to live in Hong Kong and London as the

company, the goal is to work as a team and single unit

company and the business grew.

focused on mission, goals and providing value to the

Both experiences were very different and both roles

customers.

were ones where Rachel didn't have a formal training.

She had different experiences but they both taught her

Learning to Adopt a Corporate Persona

to be resilient, to be fearless, to have both confidence and

Rachel is neither an extrovert nor naturally a public

humility.

speaker but learning to find her voice and making herself heard is imperative to be a successful woman leader. She

Entering the World of StartUps

also thinks that pushing into uncomfortable spots and

As Rachel thinks about her life journey, she didn't have a

doing tasks which aren't necessarily one's strength are

defined career path growing up other than knowing she

i m p e r a t i v e t o o n e' s g r o w t h p e r s o n a l l y a n d

wanted to go to college and get her degree. Rachel

professionally.

graduated with a degree in Business Management and

Rachel had the opportunity to work for two very

Marketing and started looking for a job. Initially she was

different CEOs early in her career. One was the CEO of a

in a financial services sales role, which she quickly

large financial market data provider and the other was

realized was not for her. Rachel's first role of significance

33

was becoming the Executive Assistant for the CEO for a

fears and accept in herself that she may not know

financial market data provider. Of course, she performed

everything, she may not always be right and she may not

all the administrative tasks, but she was also involved in

always manage situations and people properly. However,

senior management meetings, writing executive

accepting that in herself and understanding that allowed

summaries, interacting with the executive team. It was an

her to understand her strengths and weaknesses which

incredible learning experience to be working closely with

helped her to better understand herself and how she can

a CEO.

be better as an individual contributor and as a leader.

After this stint, Rachel entered the world of startups.

She was the 7th person at her first startup located in

Constantly Learning to Evolve as a Leader

Boston, MA. Her defined role was that of a customer

To be a transformation and effective leader, Rachel

support manager, but being small, she wore many hats.

believes that one has to possess both emotional

As the business grew, Rachel started managing projects,

intelligence and cognitive intelligence and recognize in

defining product requirements, testing the software and

which they excel. Leaders, she thinks, have to be able to

training customers. She was thoroughly enjoying these

have exceptional listening skills, have empathy, patience

activities and interaction with the customers. She now

and recognize intent of the discussion and help to

realizes that she was operating in a product management

organize concepts, ideas and thoughts that define goals

function without really knowing it. From there, she

and actions.

focused on product management roles, moving into

Communication and accepting responsibility for one's

management and finally leadership roles. With each

communications is also critical. Rachel often lost

move, there were aspects she was very comfortable and

patience when she was trying to relay a message to a

aspects where she was not and needed to learn. Rachel,

team member but she reminded herself as a leader that

of course, made mistakes in how she handled situations

she needed to communicate in a manner in which her

but that's exactly how one needs to think about it, she

team members could understand. It's her responsibility

made a mistake, and didn't handle this well but this is

to communicate in a way in which they will understand

what Rachel learned and how she can be better.

whether it's saying the message in three different ways

Rachel's primal challenge was overcoming her fear of not

or drawing a picture or changing the environment- as a

succeeding in different roles. She had to overcome those

leader, it's Rachel's responsibility to communicate

34

effectively.

by collecting the necessary data.

Finally, Rachel thinks it's important that leaders also

The blockchain technology alone will not support this

invest in themselves and are continuously learning and

transformation, it will be a convergence of IoT, ML/AI,

educating themselves. Education doesn't mean, just

and other technologies supporting these initiatives. And,

focused on leadership skills or enhancing one's business

just like blockchain alone is not the solution, a willingness

acumen, but also educating oneself on worldwide events,

by all supply chain partners to participate in sharing of

cultures, and things which are unfamiliar. She believes,

data will help the industry.

constantly learning allows to evolve not only as a person but supports oneself in becoming a transformational and

Sharing Thoughts and Opinions to Emerging Leaders

effective leader.

Rachel's advice to emerging leaders would be to be patient with themselves and find their path for which

Engaging in Technology to Drive Innovation

they have a passion and immerse themselves. It took

Consumers want to become more and more educated

Rachel a bit to figure out that technology and developing

about their food, and the business is seeing a shift in

products with technology was her passion. She loves

consumers need, even they demand, to understand from

seeing the output of collective teams which are deployed

where their food came, how was it grown, who handled it.

in the field and see it come to life.

They want to understand the food journey. Consumers

As Rachel grew in her career, speaking her thoughts and

are also associating themselves and purchasing products

opinions wasn't always a comfortable place, but he

from retailers/manufacturers that align with their beliefs

advises that women leaders must not be shy. She realized

and values.

as the more she shared her thoughts/ideas, some good,

Ripe.io works extremely closely with its customer base

some bad, it's ok because one is always learning when

and engages with a number of technology partners. The

they share. Sometimes people agree with one's thoughts

company holds continuous engagement activities to not

and sometimes not. Rachel has also believes there are

only understand the challenges what customers are are

times where she can influence outcomes where she is the

asking but also ensuring the company is bringing value

decision maker and also recognizes when she can do

and supporting its customers in their quest to answer

neither influence or decide on the outcome but she

their questions about the food they are purchasing.

needs to absorb the outcome and how it impacts her and her team.

Becoming Transparent to Support the Future

She says that emerging women leaders shouldn't take it

Transformation

personally and instead take it as a learning point to hear a

Rachel believes blockchain isn't a new technology but it's

different thought and idea. Sharing and ideating creates

still relatively nascent in its deployment in the food

better outcomes. They must use their voice! Finally, she

supply chain. Businesses are starting to see interest

says women leaders should reach out to other

growing in engagements to run pilots and finally move

professional women in their space and find a mentor with

into production deployments.

whom they can connect. Rachel herself has mentored

Brands will and are starting to transform their internal

individuals and hopes that she is making a difference in

systems allowing them to answer these questions. They

their careers and their life journey. That's the legacy she

are also publishing sustainability goals, quality metrics,

hopes to leave in this lifetime.

environmental friendliness, etc. Brands will become more and more transparent in sharing their supply chains

35

Denise Sangster President & CEO

Global Touch, Inc.

38

ACCELERATING GROWTH THROUGH TRANSFORMATION AND MARKET DIFFERENTIATION

G

lobal Touch, Inc. is the consultancy for the

Europe and Asia. The most important things she learnt in

hybrid and digital computing world. The

the process is to keep looking over the horizon to be

company acts as a catalyst for its clients'

prepared for what is coming next.

growth by steering clients from product-led to marketled leaders. Global Tech helps its clients to achieve

Embracing the Right Inspiration for Success

success through conventional and creative partnerships,

Denise started competing in sports at the age of 5, which

while navigating unparalleled market dynamics and

she continued through her college years. Athletic

changes.

experiences prepared her for business life more than

Denise Sangster founded Global Touch in 1990 after

anything else.

working for a database software company in Silicon

Her childhood swimming coach was the winner of three

Valley as the Head of international (non-US) partners.

Olympic swimming medals at the 1948 Olympics in

The company was acquired by Microsoft. While Denise

London. King George was so impressed with her

was considering moving into a role at Microsoft, a

childhood coach's performance that she was invited to

number of her prior sales partners in Europe and Asia

have tea with him and his two daughters, Princesses

encouraged her to create a consulting company to help

Elizabeth and Margaret at the Buckingham Palace.

them with their businesses. Denise leaped at this

Denise considers her swimming coach one of her most

opportunity and never looked back. She considers her

important role model. One of the critical lessons Denise

consulting journey filled with many surprises and twists

learned at a young ago is competing is not about winning

and turns along the way with international postings in

or losing, but rather it is about winning or learning, an

39

“ Data is powerful. When you mix it with a great story based on extensive industry knowledge, the story becomes unforgettable and moves the needle.

“ Denise Sangster President & CEO Global Touch, Inc.

www.globaltouch.com

40

important business philosophy embraced by many of the

them as peers and advocates, and a number became

top global leaders Denise has met during her business

clients.

career.

During college, after competing in swimming for 14

Adopting to Transformational Leadership

years, Denise switched sports to rowing, which was one

Denise believes there are at least ten attributes for

of the hardest things she has ever done. She quickly

transformational leaders, but she views three as the

learned rowing was about commitment, humility,

most important:

perseverance, respecting competitors and also thriving

1. Entertain new ideas- Transformation can rarely be

in chaotic situations, which all translate to the necessary

achieved if the leader is not open or receptive to new

traits of a successful leader. She also learned about

ideas and never solicits them.

teamwork, which includes working well with one's peers,

2. Remain adaptable- The leader must be in the mindset

developing the right training program, and finding the

of constantly adapting to changing market conditions to

right coaches to help one succeed. These are all the life-

keep proactively moving forward.

lessons Denise continues to draw from in her daily

3. Take the right risks- Taking calculated risks is a key

business life.

characteristic of a transformational leader. Denise adds that risks in today's world are significant, but

Winning Over Challenges

workingclosely with one's team can reduce risk and help

Denise started working globally in the early 1990s, when

accelerate revenue, growth achievement and other

there were a limited number of American women

goals.

working in the IT industry in North America-focused middle management or senior management roles, and

Bridging the Gap Between Data and Innovation

even fewer women outside the United States in any type

At Global Touch, Denise and her team are always looking

of IT leadership role. Being an American woman working

to innovate their approach, tools and performance

in a male dominated industry was a challenge which

metrics to help their clients stay ahead of the rapidly

Denise wanted to win even when men did not want to

changing market conditions. Denise and her team know

interact with her. She accepted this as a challenge; not

the power of data. Their methodology has been

see it as a road block. Ultimately, she won over most of

developed and continually refined over two decades and

41

is based on a combination of science, art and deep IT

team has to answer the same question of whether it is

industry knowledge. For example, Global Touch

defining the future or defending the past? Denise says

measures key touchpoints “before,” “at” and “after” the

the “DNA” of her company is all about defining the future,

deal signature to understand how these touchpoints

and this is something it helps its clients realize by getting

drive customer lifecycle success, sustainable partner

out of their comfort zone to achieve continual success.

profitability and predictable revenues for its clients.

Denise believes the importance of data is well

Guidance to the Emerging Women Leaders

understood by companies, but many struggle with how

Denise says that there are a number of things that

to put it into operational practice and then operate as a

emerging women entrepreneurs should think about to

data-driven company. She sees many IT companies, as

be successful. Her top five list for emerging women

well as other industries, continuing to leverage stagnant

leaders seems simple to do, but the last one has been the

processes developed fifteen years ago, which is limiting

one that has been the hardest for her to remember to do

their success. One of the biggest oversights is very few

everyday and it is also the one that has the most positive :

companies use data to tell a meaningful story that

1. Always be exceptionally well prepared for every

resonates both intellectually and emotionally with

meeting and discussion, and dazzle peers, superiors and

customers and partners, as well as the people that need

clients with strategic thinking and readiness for anything

to use the story to achieve their company's goals.

that will move the company or client forward. This will

Bridging the gap between data and those who need to

increase their visibility in an appropriate way without

learn something from it, or make decisions based on it, is

being seen as boasting or arrogant.

a key necessity for companies who will thrive during and

2. Emerging leaders must be confident in business

following this pandemic.

knowledge, social manners and etiquette. Many women don't realize the value of a solid hand shake or

Leveraging Continuous Innovation to Improve Industry

appropriate cultural greeting with women or men and

Knowledge

how it can create a memorable first impression!

Denise views artificial intelligence, machine learning,

3. Treat customers as customers for life and devise ways

automation, big data and so forth not as disruptive, but as

to interact with them, even when they don't have the

vehicles to enable opportunities. She asserts that they

budget to make short-term purchases.

are part of a trifecta approach combining science, art and

4. Women leaders of tomorrow must upgrade their self-

deep industry knowledge that Global Touch uses with its

talk, and turn off their inner critic and instead turn on

clients. Without leveraging continuous innovation,

their inner coach.

advancing the core methodology and improving its

5. Leaders of tomorrow must make it a habit to celebrate

industry knowledge, her company cannot keep its clients

small daily successes with their team. Recognizing daily

a step ahead of changing market dynamics.

successes in a meaningful way supports your team and

Whether working for its clients or the company itself, the

helps drive the company's performance.

42

Daniela Raviales CCO - Chief Customer Success Officer

Bunkerdb

44

AN INFLUENTIAL TRENDSETTER PROPELLING THE MARKETING INDUSTRY WITH AI

B

unker DB is a tech company specialised in

Embarking a Mission Towards Excellence

helping marketing departments be more

Elena Spagnuolo's journey starts 20 years ago while she

efficient and productive by processing and

set out to study Graphic Design. At that moment, web

analyzing data using artificial intelligence.

design wasn't part of the degree, but her college offered a

The company believes data is the heart of any strategy,

workshop on building a website. This was enough to

which is why it has spent the last five years developing

spark an interest in her and got her excited to be part of

one of the most influential and user-friendly technology

the “digital world.“ This further drove Elena to specialize

platforms in the world.

more in this field while taking some freelance jobs.

Bunker DB's technology allows brands to process and

Elena considers herself a hands-on type of person, i.e., if

centralize in one place an unlimited number of

she needs something, she tries to learn how to do it; if the

information from multiple data sources and displays it in

computer broke, she studies how to fix it, and that is how

a friendly and intuitive way. It exponentially improves

and when she got her first “real“ job. She applied for a

brand performance considering all digital touchpoints,

design job position, and the interviewers saw that she

also combined with offline efforts.

had studied computer repair and couldn't believe that a

In short, it helps brands turn their data into knowledge so

woman could perform such a task. They asked Elena if

they can connect with their consumers in a more relevant

she could build a computer during the interview, so she

and efficient way. The company views itself as an

did it. They hired her as a computer repairwoman while

intentionally simple platform, but at the same time,

she also helped develop their website. She also began to

sophisticated against the backdrop of today's times.

get involved with commercial related issues, pricing,

45

“ Information is overwhelming; now more than ever, it is essential to turn data into knowledge. This is why companies must start to adopt technology as part of their culture; it is a process that needs to begin, that must be planned and executed, and as always, baby steps are to be followed.

“ Daniela Raviales CCO - Chief Customer Success Officer Bunkerdb

www.bunkerdb.com

46

budgeting, customer service, and business negotiations.

Elena was involved in many positions in different companies, but all of them were related to design.

MBA in Uruguay and Paraguay. Now, Elena recalls it as a great experience to pass all her knowledge and deem herself grateful to have learned from her students.

She was so in love with the design and paying attention to details that she was in touch with developers all the

Mitigating Challenges

time, trying to know how the website was doing, giving

Since Elena had a graduation in graphic design, it was

instructions, sharing ideas about the project, and so on. It

challenging for her not to have hard skills in finance,

was then when her managerial skills started to show up.

management, and HR. However, she didn't let herself

Elena became a Project Leader in a very natural way, and

feel undermined. Elena thinks there's always time to

she kept getting better at it.

learn, and even though one's academic knowledge may

Life and work drove her to different paths, and designing

not define oneself or what he does, it will give him a

was no longer a part of her everyday life. She started to

broader picture, and in the end, it will always help.

lead technical and marketing projects until she was

Elena says, “We have to do what we have to do, play the

responsible for a Project Management department.

role needed, whether it is marketing, finance, HR, or just

“Of course, that managing was an essential part of my

being there to listen to the people. But the real deal is to

role, and my feeling was that I needed to learn more

move fast, not be afraid, trust your team, trust in yourself,

about it, I needed to share experiences with other

listen to your guts, and do your best, and of course, your

managers,“ she says. The natural path to take was to keep

team has to do their best.“

studying and learning, so she and her husband decided to start an MBA. It sure was a lot of work to do, keeping a

Portfolio of an Exemplary Leader

balance between work, studying, and social life, but it

Elena keenly believes that human values should be at the

was all worth it for Elena.

core of any transformational process. She mentions that

And then the opportunity showed up. Avedis Boudakian

we work with people who have their skills, interest,

(CEO & Founder) invited her to work at Bunker DB with

attitudes, culture, etc. The company must share its

him, a startup company that needed to be developed in

vision, and the people should be aligned to it. In this

every possible way. From marketing, commercial,

process, leaders need to challenge their team, make

communication (inside and outside), customer service

them part of the process. While their work necessitates

and support, product development to organizational

being tangible, it is essential to remember to take care of

culture, and HR.

them, listen to them, no matter how busy you are, and let

Developing all the areas with Avedis was the key for her,

them make mistakes, so they grow stronger.

fulfilling her current role as Chief Business Officer. She can talk face to face with all areas and departments

Providing Tailored Services to the Clients

because she was a part of them. From there, she

Customer feedback is essential. Elena cannot emphasize

continued to build up a team, a trusty, focused, and

enough how important it is for a company to be close to

reliable team.

its customers, listen to them, understand their needs,

Also, Elena felt she was learning so much that she wished

and transform those needs in solutions. She points out

to share her knowledge and experience; she wasn't sure

that market and industry trends will always exist, but a

if it would be able to be of any help. Nevertheless, she

company has the potential to generate a trend by merely

started teaching at university, college degree, and an

listening to its customers' needs.

47

M e e t i n g I n d u s t r y D e m a n d s w i t h D i s r u p t i ve

its customers, offering them better solutions and making

Technologies

things easier.

Information is overwhelming; now more than ever, it is

A few years ago, the company developed a Lab & Data

essential to turn data into knowledge. This is why Elena

Science department, which continues to develop

asserts that companies must start to adopt technology as

fascinating automated solutions for the customers.

part of their culture; it is a process that needs to begin,

Bunker DB's goal is to find hidden efficiencies in data to

that must be planned and executed, and as always, baby

simplify work by optimizing campaigns and marketing

steps are to be followed.

efforts.

The pandemic situation that the world is living has

That's why the company acts as people changers rather

helped to accelerate this process. Companies are finally

than company changes. To do this, Bunker DB solve as

coming to understand the importance of being more

many difficulties as possible in the shortest period and as

efficient in using data. Since budgets are not the same,

inexpensive as it can be.

the need to maximize revenue and minimize

Elena is convinced that Bunker DB is redefining the way

expenditures is louder than ever. Hence companies need

Marketing and Communications work and will continue

to leverage technology and data in the present climate.

to do so.

Aspiring for Future Expansion

Advice to Next Generation Leaders

Elena points out that today, we live in a world where the

Elena says that change will always be a part of our lives.

amount of data increases exponentially, and the time

The good news is, we do not need to be afraid. Instead, we

intended for its analysis decreases. This is why placing

ought to take advantage of the opportunities at all times,

technology at the core of the business will enable

drive our own career. Elena conveys the proverbial that

companies to make a difference. Otherwise, they will be

the work as a leader never ends. She also asks to

left behind, without the power to react neither in time

remember that hard work is essential, but it's not

nor in form.

enough; commitment, mentoring, continuous learning,

She conveys her belief that it is essential to to

honesty, and moving fast are also essential to achieve

democratize data access for better understanding. Her

one's goals.

priority is on changing the misbelief that platforms such

Data analytics is becoming a powerful asset for

as Bunker DB are only for a few or hard to use. Though it

companies, and the recent pandemic situation has shown

is a challenge, it will shift to a much broader approach,

its importance in decision making. The key is to be aware

where data can be easily accessed to make decisions by

that technology and data should run in the DNA of

everyone within a company. So Bunker DB's focus is on

everyone within an organization.

48

How Will

Blockchain Revolutionize the World in 2022 and Beyond?

B

lockchain is one of the most talked-about

technologies in business right now. Blockchain

tech has the potential to drive major changes

and create new opportunities across global businesses. It

has steadily become a buzzword and has played an instrumental role in making cryptocurrencies mainstream. Several industries have already adopted blockchain technology. It is estimated that by 2022, industrial spending on blockchain will cross US$11.7 billion. Moreover, various studies have revealed that implementing blockchain will help multiple sectors save costs, improve efficiency and boost overall performance.

Bitcoin is the most well-known example of blockchain technology, but it is joined by several early adopters. For instance, Google, Visa and Deloitte are heavily investing in blockchain projects. Several global businesses are working towards blockchain-based services, including Spotify to manage copyrights, and IBM to build tracking tools for shipping companies and retail chains. The technology can also bring massive changes in other industries, including finance, voting, transport, healthcare and more. The rise of blockchain will eventually bring about a revolution and change the world as we see it.

How is Blockchain Disrupting Modern Businesses?

Blockchain technology is still in its nascent stage, yet it

52

has a significant impact on finance. While digital

these universal forms of currencies has given a

currencies have been responsible for bringing this

significant boost to globalization and has benefitted

technology to the forefront, the advantages are reaped

various industries. Eventually, businesses will be able to

by several industries. As a result, modern businesses are

perform seamless transactions all over the globe without

undergoing gigantic transformations as they prepare

worrying about exchange rates.

themselves to usher in the new era.

What Does the Future Look like for Blockchain Decentralized Transactions

Technology?

Blockchain is primarily an open ledger that can record

The future possibilities of blockchain technology are

transactions transparently. This feature facilitates cross-

enormous. The endless developments, over the years,

border transactions to receive a much-needed boost

have taken us a step closer to a decentralized,

upon their broader adoption. With increased

trustworthy internet, where transactions are

decentralized transactions, businesses can extend their

transparent and more secure.

markets across the globe and reach out to more clients.

There are many scopes of developments for businesses,

Blockchain promotes secure, trustworthy, and traceable

especially for finance and banking. As mentioned before,

transactions, which can generate immense value for the

Bitcoin is the most well-known example of blockchain

global economy.

technology. With its growing popularity, more companies that offer financial services and manage

Digital Identity

funds are installing cryptocurrency units. Besides this,

Nowadays, we use passwords and authentication

blockchain is promising newer solutions and intriguing

questions to prove our identity online. Blockchain can

opportunities for the supply chain industry. The

easily replace this system with a digital identity that is

technology makes the management of data extremely

safer and easy to manage. This means that instead of

efficient, with features to help monitor the progress of

proving one's identity by recalling some personal piece of

the operations within the supply chain. Also, healthcare

information that could potentially be guessed or stolen,

providers can use blockchain technology to exchange

the users' digital identities will be based on the uniquely

sensitive information with each other securely. This

random set of numbers assigned to each user on a

would reduce human errors and improve the speed of

blockchain network. If this technique is used, it will be

diagnosis while also protecting patient privacy at all

impossible for hackers to steal someone's identity, which

times.

makes it an exponentially reliable solution than the existing ones.

Final Words There is a ton of potential for blockchain technology. The

Universal Forms of Currencies

future of blockchain looks bright enough in 2022 and

The emergence of blockchain technology has been a

beyond that when we consider the massive changes it is

blessing, and cryptocurrency investors across the globe

introducing in every industry it touches. It will be even

are reaping its benefits. New forms of digital currencies

more interesting to see what the future holds for

like Bitcoin, Ethereum and Dogecoin have been created

blockchain technology when it comes to banking

upon the bedrock of blockchain technology. Currently,

s e r v i c e s , m o n ey t ra n s f e r s a n d d e c e n t ra l i z e d

there are more than 10,000 cryptocurrencies and 50

marketplaces.

million blockchain wallet users worldwide. The rise of

53

Liliana Petrova CEO/Founder

The Petrova Experience

54

VISIONARY LEADER HELPING BRANDS IMPROVE THEIR CUSTOMER EXPERIENCE

B

usinesses lose more than US$62 billion a year

process starts with discovery, where the company learns

due to bad customer service. 51% of customers

about its client's culture and its customers' feedback.

will never do business with a company after one

This helps to determine the client's real problems and

bad experience. The Petrova Experience, helps

customer pain points. From this jumping-off point, The

companies recoup these losses and deliver on their

Petrova team designs service guidelines and procedures,

brand promises.

trains employees on hospitality culture, and implements

The Petrova Experience is a customer experience

technology to create seamless experiences in the digital

consulting firm with a mission to pursue customer

and physical space.

happiness. The company collaborates with brands and evaluates how they are connecting with customers and

An Empowered Leader Propelling Business

where they are missing on opportunities. Using

Liliana Petrova is the Founder of the Petrova Experience.

technology, experience design, and hospitality training,

Her first mentor told her the way to build an ideal career

the Petrova Experience helps brands turn their

was to write what she wanted to see on her gravestone

customers into loyal advocates. The company values

and live her life to tell that story. Liliana really connected

both on cost and the revenue side, bringing efficiencies to

with that advice, although it sounded a bit morbid. That

business operations and incremental revenues

was the day she became the director of her life.

generated by net new customers.

Liliana's story includes being on Wall Street during the

On an average, the Petrova Experience's client

liquidity crisis and managing Royal Bank of Canada's

engagements last between four and seven months. The

balance sheet. It includes getting an MBA from one of the

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“ Technology amplifies our ability to solve employee and customer pain points. It is the responsibility of today's leaders to ensure that we do not give up our control of the human experience to the technology.

“ Liliana Petrova CEO/Founder The Petrova Experience

www.thepetrovaexperience.com

56

most iconic schools in New York and building an

Leaving Bulgaria to make her way in America against the

impactful career in the aviation world through diverse

odds was the first step. Liliana came by herself, with a

experiences in JetBlue Airways.

loan of two thousand dollars for the airplane ticket. This

During her eight years in the aviation industry, Liliana

experience helped her develop confidence in her ability

negotiated with flight attendants and Latin American

to make smart, strategic decisions, no matter how

Tourism Boards. She led the redesign of Terminal 5 at the

challenging the circumstances are. This confidence and

JFK International Airport in New York and launched a

commitment to success for herself and others guides

facial recognition boarding experience in Boston. When

every business decision that Liliana makes. It gives her

it comes to a plane, there is nothing that Liliana hasn't

the strength to lead teams and deliver value around the

done. She has pushed a plane, cleaned a plane, done

world.

security checks on a plane and flown a plane simulator.

Liliana's background and professional journey has only

Liliana founded The Petrova Experience a year and a half

strengthened her resilience- a necessary skill for all

ago. Her team is made of an eclectic group of

leaders today. Many people are neither confident, nor

professionals who really CARE about people and

comfortable pushing high level executives to think

constantly ask “how can things be better.” Some people

creatively and take on risk to achieve more for their

call them disruptors, but Liliana calls them thinkers and

businesses. Liliana does not have this problem, and has

explorers. The company believes that nothing is

always challenged her leadership strategically. At the

impossible. It just hasn't been done yet, and seeks to

time facial recognition boarding was not one of her

serve and empower leaders who want to be at the

corporate goals, she pushed her leadership to let her run

forefront of their industries and build the experiences of

with it and make facial recognition a reality in the

the future.

company's operation. Liliana believed that biometrics was the next frontier and if JetBlue wanted to be an

Building Organisational Success

innovator in the space, it needed to go there. The

Liliana does not think of herself as a woman leader.

company listened, and made it to all the prime-time news

Rather, as a leader who happens to be a woman.

in America!

Everything that she has done in life has been about some

Liliana would be remiss if she didn't talk more about the

sort of disruption.

redesign of the JetBlue Airways lobby at JFK Airport.

57

Her leaders in JetBlue Airways taught her what it meant

constructively. She saw things as black and white. She

to be an authentic servant leader. They gave Liliana the

used to react before thinking, which was the source of

autonomy to innovate and nurtured her through her

many conversations explaining herself afterwards.

mistakes. She learned the most from them and grew as a

Another challenge, that took Liliana the better part of 10

customer experience leader during the redesign of the

years to overcome, was the cultural assimilation to the

JFK Airport's JetBlue Lobby in New York. The team had

American ways. She shares, “It takes time and a lot of

many challenges and the way the JetBlue leaders

desire to redefine oneself in a new culture. I still do not

handled them showed Liliana in practice what servant

watch baseball and believe there is ONLY one sport

leadership meant.

called football (and when I say, football, I mean soccer)!

To give an idea what life was like then, during this phase of

However, when my colleagues were laughing about

her career, Liliana was managing more than 15 peers

Seinfeld at my first job, I did get cable (even though it was

laterally, and helmed a cross-functional delivery team of

above my budget) and watched most seasons.” It takes

more than 40 people, along with 5 business partner

intentional desire to NOT be always different in order to

relationships, and 2 executive committees.

be accepted as part of a team and Liliana believes that belonging to the culture of the place one wants to

Facing Challenges for Constructive Growth

succeed in is part of the journey to the top.

Liliana grew up in communism and lived through the

All the jobs that Liliana has had, needed to happen in

“change of the regime” in Eastern Europe. One of her first

order to create the company that she has created, and to

vivid memories was sitting on her father's shoulders in

be where that she is now, but at that time, she did not

the square at the center of Sofia, in an ocean of people,

know that. Liliana struggled to be happy in the moment

singing “45 years is enough. Democracy now!”

because she was constantly pushing for the next thing.

Ever since then, justice has been a driving force in

Ambition was keeping her from happiness. Liliana is

Liliana's life. Early on, in corporate America, it was a

learning that she needed to be more present in the

c h a l l e n g e t o l eve l o f f h e r p a s s i o n a n d u s e i t

moment and enjoy what she does.

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Encompassing Transformational Leader Attributes

tremendously in the last ten years to one of constant

Liliana considers bravery an essential attribute of a

learning and discomfort. She continues, “We now have to

transformational leader, and it is a scarce resource.

lead with less knowledge and deep understanding than

Leading people through change is a layered and difficult

before. As a result, we have an even deeper need for

endeavour. She shares, “You never have all the

bravery, and strong relationships built on trust. See, back

information you need to be 100% certain of the outcome.

in the day there was not as much information out there

So, you need bravery to compensate for that missing

that we needed to absorb. Now, there is so much coming

data. You need bravery to think differently, to innovate,

at us so fast.”

and to motivate.”

It has become impossible for an individual leader to know

Self-esteem is just as important, and not nearly as

everything about technology. Liliana observes that the

celebrated. Servant leadership inspires people to follow

current role of a leader, more than ever, is to put together

a leader. But no leader can be in the service of his/her

the right teams and foster a great culture and spirit so the

people if he/she needs constant validation and

members of the team can feel inspired to work together.

reassurance. She adds that, “There is a third vital attribute of a transformational leader- Empathy. We talk

Towards a Promising Future Ahead

about empathy a lot in the customer experience

Liliana sees The Petrova Experience as a boutique

technology space. Successful transformational leaders

consulting firm that gets noticed by the powerful

have to put themselves in the shoes of the individuals and

thinkers. And, when that happens, the company would

teams they lead. Empathy allows us to understand the

work together to safeguard the human experiences of

anxieties and fears that teams feel in order to behave

the future in a way that keeps the pursuit of happiness

appropriately as a guide on the journey of change.”

front and center in the design and execution process.

She thinks that customer experience will only grow as a

Developing Innovative Technologies

field in the coming years, and human-centred design will

The Petrova Experience innovates by constantly

guide future technology development and

listening to and speaking with its customers. The

implementation.

company is based on the ethos that innovation is the result of reiteration based on feedback, not from internal

Values for the Emerging Women Leaders

processes that keep the voice of the customer out of the

Liliana advises emerging women leaders to find their

design phase.

own path and live their truth. She explains, “My path is

Human-centered design is key to the Petrova

the path of the disruptor. I live my life that way. I even

Experience's innovation. A well-designed, innovative

made a company that helps others disrupt their spaces.

technology feels human, and the company gets there

This is my journey. Find yours. And be authentic to it.

through cross-functional conversations that bring

Follow your calling. Do not let others tell you what your

diverse opinions and expertise to the table.

path is. And, do not let short-term financial gains lead

Speaking on disruptive technologies, Liliana says that

your choices, especially early in your career. You may be

these technologies propel innovation to new frontiers

delaying the right journey when you follow the money.”

that only the bravest can fathom. She adds, “They are

She further guides that when emerging women leaders

changing the way one live, and how we perceive time.”

find and follow their right path, their passion will

Liliana views that the role of a leader has changed

naturally accelerate their career and fuel success.

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