Here is the next finterview. Did you hear anything about “Cryptoequity” before? If your answer is no and I think your answer is no, than it´s time to read this short finterview with Joel Dietz. Swarm is a Berlin based startup ready to start a revolution (Read the Swarm Manifesto here). It´s not just a new kind of crowdfunding platform. It is a new kind of finance!
1. Please describe your product
Cryptoequity crowdfunding platform. Enables a greater degree of participation in a project.
2. Why (for what) did you found
Was a problem I had before with my last startup. Collaborative economy startups engage a large community but don’t directly benefit those community members. This was a way of potentially sharing the value.
3. What customer problem will you solve? Your main USP?
Non transparent corporate governance and inability to directly benefit early users, especially for community powered platforms.
4. How is your startup financed? In what funding phase are you?
Was funded out of the founder’s pockets up until now. Two weeks launched our fundraiser on our own platform and raised abut $1mm USD.
5. Please describe your business model!( You can use a canvas picture)
Like Kickstarter, we take a fee from everyone who fundraises with us.
6. Please tell us some facts about your team? Who are the founders and what are there skills?
Joel Dietz, software engineer and dilettante (also worked on economic policy among other things). Jef Cavens, designer. Ben Ingram, serial entrepreneur, technical master,
7. Short answer: Distrupting banks or enabling banks?
8. In what are you better than banks?
Transparent. Accountable. Powered by the people.
9. What are the biggest future challenges for banks and for your company?
Banks are providing two services, holding money and lending that money for profit. Both can be done better with new technology. P2P lending is already producing better returns than bank loans. Blockchain technology is making it increasingly likely that you dont’ need a bank to hold your money.
10. Additional Question: For what more private thing you would leave everything behind?
Want to open my own yoga retreat with an internal spa. Hadrian’s Villa is my model.
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