Demelza Hays is a doctorate student in the Department of Economics at the University of Liechtenstein in Europe. Prior to attending the University of Liechtenstein, Demelza completed her Master's in Economics at the Toulouse School of Economics in Southern France. As a Summer Fellow at the Mises Institute, she investigated if cryptocurrency is compatible with fractional reserve banking. Demelza is also a Frédéric Bastiat Fellow at the Mercatus Center and a Fulbright Scholar. Under the auspices of the Fulbright Scholarship, Demelza studied the relationship between weak property rights and economic activity in India at Panjab University. In 2015, Demelza's essay, Privacy Versus Security: Does a Tradeoff Really Exist? won first place in the 2015 Fraser Institute essay contest.