Electra Frost
Co-founder of Digital Playhouse Foundation
Electra Frost, a chartered tax adviser and public accountant, specialises in accounting systems for crypto businesses and web3 start-ups. She firmly believes that every accountant will become a crypto accountant. As co-founder of Digital Playhouse Foundation Ltd charity, Electra promotes the adaptation of business and accounting skills with open and permissionless technologies starting with Bitcoin. With 16 years of edgy innovation within her own practice, she has transitioned her professional services model to ElectraFi, to focus on web3 businesses and support accountants in guiding their clients to informed crypto and digital asset adoption. In 2024, she's collaborating with crypto accounting education providers and building a Bitcoin L2 solution called CREDU to allow the public to verify accountants' expertise. Electra's work with The School of Bitcoin and Stacks Australia keeps her actively engaged in the decentralised digital landscape, continually sharing new knowledge, and enjoying life.
Electra’s Insight: Navigating the Evolving Landscape of Bitcoin and Web3
Electra, a seasoned accountant and an early adopter of Bitcoin, shares her journey and vision for the future of Web3 and cryptocurrency. With her roots firmly planted in the field since 2013, Electra has witnessed the transformative power of blockchain technology firsthand. In this spotlight, she offers a unique perspective on the pivotal resources that shaped her career, her bold take on Bitcoin's central role in Web3, and her contributions to Australia's first Bitcoin Builders movement.
Electra, can you share with us who are your must follows in the industry to stay up to date?
"I keep a close eye on Muneeb Ali, Dan Held, CryptoCFOs, Umar Mallam Hassam, The Accountant Quits, Jason Meyer, Auditchain, Patrick White, Harrison Dell, Damian Lloyd
What resources were pivotal in starting your career in crypto?
"As an accountant exposed to Bitcoin since 2013, Anton Antonopolous was my first rabbit hole guide."
Everyone's talking about Web3. What’s your bold take on its future?
"It will all come back to the mothership - Bitcoin."
You've been involved in some amazing projects. Is there one that stands out for you?
"I'm very proud of the Stacks Australia team, led by Gordon Christian my co-founder at Digital Playhouse Foundation, for growing Australia's first Bitcoin Builders movement and The School of Bitcoin for Griffith University's Bitcoin focused blockchain program in 2023/2024."
What excites you the most about working in the Web3 space?
"As finance professionals, we can pioneer the use of Bitcoin and crypto in innovative digital environments, transforming traditional notions of currency and positioning ourselves as advocates for economic integrity, empowering businesses and individuals to thrive in an economy that decentralises power and redistributes value. Web3 is like the Aussie "fair go" brought to life in the digital world."
What do you find to be the most challenging aspect of working in Web3, and how do you navigate these challenges?
"The most challenging aspect for me is balancing my time between running my accounting practice to meet crypto demand and pursuing my Web3 builder projects. To resolve this I can help train other accountants to become proficient in crypto and Web3 within their niche, to spread the workload across our industry and build our collective expertise."
What advice would you give to other women aspiring to enter and make an impact in the AI or Web3 industry?
"Women are fairly equally represented in the Australian accounting industry. However, I've observed that the crypto niche within our field is still largely dominated by men. Increasing the number of women in crypto accounting practice could bring substantial benefits to the crypto industry due to their diverse perspectives and risk management approaches. Mixed gender teams of advisers are more cooperative and better at collaborative problem-solving. In the context of crypto accounting, where interdisciplinary knowledge is valuable, having more women could facilitate more effective teamwork and knowledge exchange.
For women accountants aspiring to delve into the crypto and Web3/AI industry, I'd advise them to start by building a solid foundation in blockchain technology and understanding the social benefit, economic and technical principles of decentralised digital currencies. Engaging in continuous learning through courses, workshops, and certifications focused on cryptocurrency and web3 models can provide both theoretical knowledge and practical skills. It's also important to network within the industry, joining groups and associations such as Blockchain Australia and ATB (all things blockchain), where you can connect with other professionals in the niche and stay updated on the latest tax and regulatory developments. Participating in forums and contributing to panel discussions can also enhance visibility and establish credibility. Also, showcasing our unique perspectives as professional women in technology can position us to impactfully influence the financial management and ethical practices in Web3 and AI, giving strength to the industry from a public and government perspective."
Electra's commitment to integrating Bitcoin and cryptocurrency into the fabric of modern finance exemplifies her innovative spirit and dedication to fostering economic integrity. Her efforts to educate and train fellow accountants in crypto and Web3 not only enhance the industry's capabilities but also ensure a more inclusive and diversified field. As she continues to advocate for a balanced representation of women in crypto accounting, Electra's advice for aspiring professionals is a beacon for anyone looking to make an impact in this dynamic industry. With her leadership and vision, Electra is truly paving the way for a more equitable and decentralized financial future.