Spirituality as a Foundation for Financial Innovation: Ben Caselin’s Lecture at the University of Hong Kong
On 13 March 2025, Ben Caselin, Chief Marketing Officer of VALR, delivered a guest lecture at The University of Hong Kong (HKU) as part of the Master of Family Wealth Management programme. His lecture, titled Spirituality as a Foundation for Financial Innovation, explored the role of spiritual principles in shaping financial systems, particularly through the lens of Bitcoin and decentralised finance.
A Journey Towards Financial Innovation
Introduced by Dr David A. Palmer, a distinguished professor, anthropologist and foremost expert on religion in the region, Caselin’s career trajectory was highlighted as an unusual yet insightful journey from anthropology to cryptocurrency. “After meeting Ben about ten years ago, I saw him disappear into the dark,” Palmer remarked humourously, referring to Caselin’s transition from youth empowerment projects to deep involvement in crypto and fintech. Now at VALR, the largest crypto exchange in Africa, Caselin aims to align financial systems with ethical and spiritual values.
Spirituality, Wealth, and Financial Systems
Caselin began his lecture by posing fundamental questions about money, value, and the role of wealth in society. He emphasised that financial systems must move beyond materialism and draw from spiritual principles. Building on ideas from the Bahá’í Faith, he suggested that Bitcoin represents an opportunity to build a financial system that reflects the oneness of humanity, foster global connectedness, and that it could reduce wealth disparities over time.
Quoting Bahá’u’lláh’s writings, he read: “It is not for him to pride himself who loveth his own country, but rather for him who loveth the whole world. The earth is but one country, and mankind its citizens.” He then connected this principle to Bitcoin’s nature as a borderless, decentralised currency that enables seamless transactions across nations without the control of a single government or institution.
The Ethics of Wealth and Bitcoin’s Role
A significant portion of the lecture addressed economic disparity. Caselin quoted Bahá’u’lláh: “O Ye Rich Ones on Earth! The poor in your midst are My trust; guard ye My trust, and be not intent only on your own ease.” He argued that Bitcoin offers financial inclusion by allowing anyone with internet access to participate in the global economy, even in regions where traditional banking is inaccessible or restricted.
Furthermore, he pointed out that Bitcoin’s fixed supply (21 million coins) prevents inflationary pressures caused by excessive money printing. This, he suggested, encourages long-term financial planning, shifting societies away from short-term consumerism and towards a more sustainable wealth management model. Over time, it also calls for a culture of philanthropy where generosity and noble giving become a means by which wealth is shared and collective happiness and prosperity could potentially be attained. The idea here is that social progress cannot simply be achieved through technological innovation alone, but also through a determined effort to improve our character and develop our soul.
Bitcoin, Peace, and Global Stability
Caselin also examined the relationship between monetary policy and conflict. Historically and no less today, governments fund wars through inflationary policies—printing money to finance military expenditures. He argued that Bitcoin, as a decentralised and pristine digital asset, could reduce such practices by preventing wealth dilution through arbitrary expansion of the money supply.
Quoting Bahá’u’lláh’s famous address to the kings and rulers of the time, Caselin suggested that a global, non-sovereign monetary system could promote economic cooperation over competition and militarisation.
“Compose your differences, and reduce your armaments, that the burden of your expenditures may be lightened, and that your minds and hearts may be tranquillized. Heal the dissensions that divide you, and ye will no longer be in need of any armaments except what the protection of your cities and territories demandeth. We have learned that you are increasing your outlay every year, and are laying the burden thereof on your subjects. This, verily, is more than they can bear, and is a grievous injustice. Decide justly between men, and be ye the emblems of justice amongst them.”
Ben Caselin delivering a guest lecture at The University of Hong Kong (HKU) as part of the Master of Family Wealth Management programme.
Sustainability and the Future of Finance
Addressing concerns about Bitcoin’s energy consumption, Caselin pointed out that over 50% of Bitcoin mining now utilises renewable energy. He discussed innovative applications where Bitcoin mining helps stabilise energy grids, monetise wasted energy, and promote sustainable electricity use.
He further emphasised that Bitcoin fosters a long-term financial mindset. Unlike fiat currency, which loses value due to structural (and whimsical) devaluation, Bitcoin incentivises saving rather than excessive spending. “If your wealth appreciates over time, you think beyond short-term gains and begin planning for future generations,” he noted.
A Thought-Provoking Conclusion
Closing the lecture, Caselin offered a reflection on financial ethics: “Finance is not just about transactions; it is about human connection, dignity, and honouring each other’s worth.” He encouraged students to consider the broader implications of financial choices and their alignment with spiritual and ethical principles.
Dr Palmer, in his concluding remarks, acknowledged the depth of Caselin’s arguments, stating, “I’m not entirely convinced of bitcoin as the solution - although I’m tempted to buy some, just in case - but that’s precisely the point. This discussion forces us to rethink financial paradigms and their spiritual dimensions.” He emphasised the need for deeper reflection on how money is earned, managed, and distributed in a way that aligns with personal and societal values.
Final Thoughts
Caselin’s lecture challenged students to consider how financial innovation can be harnessed for ethical and spiritual progress. By linking Bitcoin to principles of unity, fairness, and sustainability, he presented a compelling case for reimagining the financial system. Whether or not one fully embraces Bitcoin, the discussion underscored the importance of integrating moral and spiritual considerations into economic decision-making.
Ben Caselin with Dr David A. Palmer and students from the University of Hong Kong.
Risk Disclosure
Trading or investing in crypto assets is risky and may result in the loss of capital as the value may fluctuate. VALR (Pty) Ltd is a licensed financial services provider (FSP #53308).
Disclaimer: Views expressed in this article are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.
