We ask builders in the blockchain and cryptocurrency space for their thoughts on the industry…and throw in a few random zingers to keep them on their toes!


This week, our 6 questions go to Michelle Legge, Head of Crypto Tax Education at Koinly – a cryptocurrency tax calculator and portfolio tracker for traders, investors, and accountants.

Alongside her work at Koinly, Michelle is passionate about closing the financial literacy gap for women. Before entering the crypto space, she did consumer education for an Australian fintech startup, where she launched a first gender pay gap insurance product.

Today, Michelle is back in her native South Africa, where she lives the life of a digital nomad and manages a remote team of content and social media assistants at herbal cafes in Cape Town. . As for her crypto curiosity, Michelle is cautiously optimistic, betting on altcoins with unconventional use cases. Blame it on her day job, but while Michelle knows crypto is the future, the crypto tax seems like the dark side of the moon. Helping crypto investors be fiscally strategic seems like a worthy cause in light of increasingly stringent regulations.


1 – From smart contracts to DApps, NFTs and DeFi, we’ve seen so many upcoming “killer apps” for crypto, but none have really taken off yet. What will stick?

The projects that attract the warm embrace of Joe Public are the ones that stick. We’ve come very close to a retail use case with DeFi’s many yield farming products, and it shows no signs of slowing down. But will it become completely mainstream? Perhaps, over time, provided the space does not fall into oblivion. On the other hand, NFTs have been massively adopted by all walks of life, which makes it seem like this blockchain use case has broken a very hard nut.

While the NFT arena might be dominated by the glitz and glamor of the celebrity art scene today, I imagine NFTs will come into their own in a rather mundane way. If the public can interface with “the blockchain” via images, it makes sense to assume that everything we’re used to seeing on paper will go in the direction of a digitized, proprietary NFT. What might that look like at the most basic level? Share certificates, graduation diplomas, medical records, insurance policies, birth certificates, passports, and more.

The creation, distribution and management of Proof of Ownership NFT administration could create an industry of its own, just as it has already done in the gaming industry. However, for NFTs to work like this, we must remember that the NFT art we have just understood is a taxable asset. That’s fine when you think about art, music, movies, and domain names, but no one wants to face a tax bill for wrongfully “profiting” from the “assignment” of a font. ‘Health Insurance. It should be clear to everyone, including the taxman, that NFTs used in this way have a zero dollar value.

2 — If the world gets a new currency, will it be run by CBDCs, a permissionless blockchain like Bitcoin, or a permissioned chain like Diem?

It pains me to say this, but central bank digital currencies are waiting in the wings. Everything we’ve seen, from Biden’s executive order to the much-publicized inflation curse strangling the global economy, tells us that governments are hungry for CBDCs. Even without the regulatory headlines, we only have to consider the power and control CBDCs offer. Rishi Sunak’s Britcoin appears in the works, with disturbing undercurrents of programmability – leaning into the likes of China’s social credit system. CBDCs will be, but unlike the disruptive and challenging future presented by Bitcoin and its friends, CBDCs appear to be a completely different beast of blockchain.

3 — Which is dumber: $500,000 Bitcoin or $0 Bitcoin? Why?

Don’t call me negative, but I work in crypto tax. I am of the opinion that most of the Bitcoin “moon” happened behind the curtains, in the good old days when governments and tax agencies were none the wiser. Can stratospheric growth occur under the iron fist of regulation and scrutiny? I am not afraid.

4 — Tell us about a hidden talent, and give us a link to prove it!

A talent so hidden that it may not even exist? I guess I don’t have “bedroom DJ” in my Twitter bio for nothing, but if being good at Spotify playlists makes me good, then so be it. “The Crush” is the name of my pet playlistand a tribute to my heady evenings (maybe seven in total?) driving the turntables of Melbourne’s 2000s club scene.

5 — What talent do you lack that you would like to have? How would you use it if you had it?

Is it because women are coded for multitasking, or because we live in a high-octane, caffeine-fueled society? Anyway, the talent that I miss is focusing the laser beam of a border collie and his tennis ball.

If the focus is on the home, then the foundation is Buffett’s famous “Say No to Almost Everything.” The key, it seems, is to limit open tabs to no more than five – a big step up from the 39 that currently catch my eye. Hyperfocus in a crazy world? I think it’s a talent, or rather a superpower, that most of us want.

6 — What’s the dumbest conspiracy theory out there…and which one makes you think for a moment?

This question – and his loaded gun – is just the kind of thing to get a woman canceled! Fact is, I’m pretty much a reasonable conspiracy theorist, but there’s still room for a tinfoil hat in my closet.

I think, like many people drawn to cryptocurrency, our gender carries gifts of mistrust – and who could blame us? Some of the biggest targets down the rabbit hole – let’s mention Big Pharma here – have antecedents. It’s fair to question everything, and it’s good to remember that no chapter on World War II is complete without an entry on the Reich Ministry of Enlightenment and Propaganda. I will say this though: a flat land could be a great solution to rising tides, right?

A wish for the young and ambitious blockchain community:

To the women of blockchain, we need your voices. Be the reason and the balance that allows us to move in the right direction.