Thought Leaders in Financial Technology: My Digital Money CEO Guy Gotslak (Part 4)

Guy Gotslak: We’re interested in providing fractionalized metals like gold and silver. We have plans to put that on the platform. Especially in times like this, more people are buying metals. Gold is doing well. That will allow us to stay stable. From a client standpoint, it helps people get access to diversification.

Even if you talk about tokenizing real estate, a lot of people can’t buy a whole house. They don’t have enough for the down payment or maybe they don’t have good enough credit. By tokenizing real estate, you can buy a part of a house and you can do it at a click of a button.

Sramana Mitra: To tokenize a house, you need an entity that creates that token on your platform. You’re not doing the tokenizing.

Guy Gotslak: Right, we’re not doing that. We need to work with someone that provides that token.

Sramana Mitra: What is the status of that market? Let’s say real estate as a use case. Are people doing that? Have you found partners who want to do that?

Guy Gotslak: It’s really early stages, but there are people already tokenizing real estate. There need to be regulations and a standard globally so people can buy and sell this.

Sramana Mitra: It’s not yet regulated and it’s not really that legitimate yet.

Guy Gotslak: Right, it’s being developed though.

Sramana Mitra: What about metals?

Guy Gotslak: That already exists. We’re working on that.

Sramana Mitra: It’s regulated?

Guy Gotslak: Yes. It will take us three to four months to release it. Eventually, we will add real estate if we can. If I have $100,000, instead of putting it on a house, I can buy a little bit of a house and a little bit of gold.

Sramana Mitra: Are there other such use cases that you are looking at enabling?

Guy Gotslak: There are other features but not new assets – robo-trading kind of stuff. Helping clients assess the risk level and then providing a portfolio for them.

Sramana Mitra: That’s the packaging; that’s not a new asset class.

Guy Gotslak: Yes. Also, having the lending aspect too. You can lend your crypto and make a certain percentage. That’s the beauty of Blockchain. With our current financial system, we have this fractionally reserved system. If you put a million dollars in the bank, you don’t have that million dollars. It’s an IOU. The bank is taking that million dollars and lending it out and making money.

In this new system, you actually own that money. If you have a million dollars in Bitcoin, I have it. Then I can actually use a decentralized lending platform to lend that out to an individual. I can take the interest for myself instead of lending it to the bank. We have these coins on our platform. We just added Ave. You can invest in these systems.

Sramana Mitra: It’s going to be a turbulent year for you.

Guy Gotslak: Exciting still because we’re working on a lot of new products.

Sramana Mitra: Thank you for your time.

This segment is part 4 in the series : Thought Leaders in Financial Technology: My Digital Money CEO Guy Gotslak
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