Blockchain Foundry on Blockmarket, the decentralized marketplace

0:00this is Jay Addison from event chain dot IO for investment media and FinTech news network this week on blockchain interviews we have Dan and Sebastian from blockchain foundry how's it going guys great going fantastic so what is blockchain foundry and then after you answer that question give us a little bit of an insight into the business model how's it gonna make money so you

0:22know blockchain battery is actually a blotching products and services company what we do is we don't only build products using watching technology it's you make money as a company ourselves but we also extend our expertise to outside companies organisations who are looking to see if they can leverage black shell technology to their own bottom levels so we kind of have two

0:43lines of business and one since we have our own products that we develop their markets then we also have our kind of services arm that we used to provide those services to companies who are looking for bloodshed so what would be the business model for revenue from each side of those roughly services arm is pretty clear-cut I mean it's pretty much a consulting type of type of revenue

1:09model the different type of consulting that we engage where we try to engage though is we do try to find product opportunities in that consulting work and if we can find those opportunities we try to subsidize the development if it's productize one use case down the line imply tomorrowland and so that kind of plays into you the product side of the business where we build products not

1:36only for consumer to consumer markets like the product that were best known for at the moment I think is called black market which is actually a distributed market flow solution currently have for desktop on building a web based implementation of that actually right now they're released later this year that's a consumer can place type of product but the way that we're building

2:01we can also leverage it business to business customers and that's what we're trying to do with a lot of our different products development goals like if we identify a product inside of our control arm we'll try to white label that and then resell it to different you know business-to-business customers or or consumer consumer application use cases if that's really were the prospects okay

2:25that sounds great now what was the motivation for starting for starting blockchain foundry I mean it sounds like such a great idea so we'd actually been go ahead for about four years before we started blocking Winery the company and development protocol we had mature to employ we realized that we doing actual products for different markets in these cases on

2:50top of that protocol and that was the impetus for starting a black King foundry and actually going out raising funds to help us excavate like development on top of them now that makes sense now can you tell us a little bit about the experience in growing blockchain foundry so far to date sure so I'll answer that it's been it's been a fantastic rollercoaster ride when we

3:14started the company in January 15th is basically or when we got off the ground we started with eight employees as of today we have 20 employees in and we have built what I consider to be a world-class development team some of the folks on our team are just phenomenal a lot of folks on at the senior level of our team have years of experience building blockchain applications and I

3:40think that is one of the things that kind of differentiates us at this point is that really we have a tremendous amount of blockchain development experience and beyond that all of our developers have a tremendous amount of application development experience and several of them have gone through some very successful startups and built some really amazing things so from a

4:01development perspective I think that we're really world-class what we're currently doing now is doing the same thing for our market inking so it doesn't the next step for us is to build that world-class marketing team and the folks we already have in-house are phenomenal and the folks that we're looking to bring in right now actually are also some amazing individuals so

4:21overall obviously is with any startup there are always challenges and it's a lot of hard work but I wouldn't trade it for anything I'm happy to be working 14-hour days on blockchain I know this blockchain sector is so exciting right now we all stay up all night so much fun so another great question I have I heard you're going to be listed on one of the

4:42Canadian stock exchanges now I'm not sure how much you can tell us on that can you give us a little bit of information on that absolutely so I can't tell you a lot right now but what I can tell you is that we are going to be on the TSX and then it's going to happen over the next few weeks so as we have more information that can be publicly announced about that we will

5:00certainly do something but it is definitely an exciting development here with blockchain foundry that we're all really psyched about and I think you're going to do very well what's the website address for blockchain foundry sebastian just in case somebody wants to follow up on that that listing that you're gonna have absolutely see it's blockchain foundry dot co okay perfect okay so

5:20there's a lot of blockchain companies out there there's literally hundreds or thousands of them out there what makes this project in your eyes stand out from the rest I know personally that being in the blockchain sector we always hear a lot about blockchain foundry and Cisco NAND there's a lot of great feedback that we hear so I know you guys are seem to be

5:37on the right track from from what I hear what would you guys say is your is your your your the advantage that you have let's just say yes so I think the difference between blockchain battery and other companies out there is that we've been working in this space for over 40 years at this point and we not only have a operational protocol to serve as our

6:05track record per se but also that protocol is something that we felt from scratch it's a combination of different technologies that we saw in the blockchain space that we put together in a way that we think provides value other protocols don't provide that need and because of that experience we feel like we're uniquely qualified to not only build products on top of that molecular

6:30biology but also to advise companies and organizations think they may have a uses for the blockchain as to kind of the best so as blockchain consultants with blockchain foundry if someone had an idea for a blockchain project they could come to you guys and you guys would take him through those next steps and in fact helps them oh yeah yeah okay great great

6:54so who's the target market so I think the target market for blockchain foundry is really on a product my product business it would really depend on what product we're talking about when it comes to you know target market I think in terms of our consulting services it's really any company out there that that is looking to improve their bottom line as part about this black hole technology

7:19stuff and things that it might apply to their business that's really the people we want to talk to or if they're people that already have a rough understanding of what the blockchain can bring to their business in terms of value and want to know how they can take next steps to really proceed in realizing some of that value those are that there's only two primary groups of

7:42people now what do we see for the project over the next year so I think what you're gonna see over the next year is not only are we gonna be releasing some pretty amazing products on in the decentralized markets place with with block block market web which is really the part of the product where we are targeting we're targeting much larger audience with that really there it's

8:09going to be sellers that want us to want to transact in cryptocurrency as well as save on feet closing fees right or buyers it's going to be people that want to want to spend using cryptocurrency although well part of what we're doing is also really reducing friction there so part of that part of block market web now maybe not in the initial release but

8:32over time is really going to be reducing the friction that people have to go through in order to to use cryptocurrency so for buyers you know I'd like to see essentially a buyer be able to just enter a credit card and transact on our network with essentially having the exchanges happening transparently right yeah that makes sense something they're used to in

8:52simple right absolutely it's no but no one is going to use a complicated product just because it has a crypto component in it you need to create products that people are going to want to use that maybe that are easy to use and that really addressing me right so I said for sellers it's it's really about providing a platform that they can use to transact in crypto and allows

9:15them to save on fees and for buyers it's people that also would like to use cryptocurrency in their shopping experience as well as potentially fine interesting and unique products that aren't available anywhere else and also give them some cost savings yes Sebastian how does someone find the marketplace today if they wanted to go and learn more about it

9:36so currently you can give it a blockchain bound read CEO to learn about black market web and desktop but very soon and you release the black market web product we are also going to stand up a domain that is essentially going to be a direct access to the marketplaces you'll just be able to go to that domain and start shopping right away fantastic dan and Sebastian can block market day

9:59long fantastic deanna sebastian from blockchain foundry has certainly been a pleasure speaking with you today let's follow up in the next coming weeks on what happens with this listing in the public market I'm sure everybody on our in our audience it's going to be interested in that thank you thanks Travis thank you