Pol Martin Espelt On The Future of Money and Banking

An Interview With David Liu

Create a work methodology that allows you to to maximize your time.

The way we bank has changed dramatically over the last decade. It was not too long ago when you had to wait in line in a bank to deposit money. Today things are totally different. You can do your banking without ever walking into a bank. In addition, the whole concept of money has changed. In the recent past, money usually meant bills and coins. But today, the concept of money has expanded to include digital currency and NFTs. What other innovations should we expect to see in banking in the short and medium term?

To address this, we are talking to leaders in the banking, finance, and fintech worlds, to discuss the future of banking and money over the next few years. As a part of this series, I had the pleasure of interviewing Pol Martin Espelt.

Pol has been enthusiastic about entrepreneurship since he was 16 years old. He also grew up fascinated by how financial systems worked and started reading up on traditional investing and trading in his free time. After discovering blockchain and the technology’s potential for disruption, Pol became an ardent supporter and devotes himself to the crypto space.

At just 20 years old, Pol is currently pursuing his passion as a CEO and yield strategist, dedicating his time to build Rand to enable others to benefit from DeFi in a simple and frictionless way. During the last year, Pol built a team of 15+ experts globally and raised more than $3M in several funding rounds with some of the most influential firms in the VC space.

Pol hopes to teach others, specifically Gen Z, how they can leverage technology to add value to their savings seamlessly. With Rand, he aims to accomplish this by providing a fully customizable platform to support the financial independence of the coming generations.

Thank you so much for joining us in this interview series! Before we dive in, our readers would love to “get to know you” a bit better. Can you tell us a bit about your ‘backstory’ and how you got started in this industry?

I started in the crypto industry in ending 2017 learning about Bitcoin because some guy bought an apartment in NYC with some bitcoins. At the beginning of 2021, I started Rand the day I wanted to move to NYC with 2 friends. Back in those days, I was building several yield strategies on multiple protocols but logically, my friends, who are not crypto natives, didn’t understand what I was doing and how I was making money out of it. At that point, I realized that we needed a mobile app that was very easy to use and that allowed us to put set aside side income every month, produce yield on autopilot through several DeFi yield strategies, and then use this yield produced to pay the water bills, light bills or to even pay a whole month of rent.

Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?

Don’t be super excited when good things happen, and also don’t be super worried when something goes wrong.As an entrepreneur, you receive good and bad news every week. If you don’t train yourself on how to react to them, you will end up in a roller coaster of moods that will result in poor decision-making and productivity.

Ok wonderful. Let’s now shift to the main focus of our interview. Can you tell our readers about the most interesting projects you are working on now?

We are currently developing Rand Network. Rand is is a mobile app that allows you to achieve your financial goals on autopilot. The platform is entirely powered by our yield aggregator which allows us to produce interest with user’s funds through different decentralized and centralized crypto strategies.

How do you think this might change the world?

I believe that in the near future we will see more and more financial products that use DeFi in their backbone at the same time that they bring a great user experience for the mainstream user.

What most excites you about the banking industry as it is today? Can you explain what you mean?

I’m excited to see how they will transform into a more decentralized operating system.

What most concerns you about the banking industry as it is today? What would you suggest needs to be done to address that?

Banks have too much power over the macroeconomy, and the fact they are very far away from using the newest cutting-edge technology. They have slow systems, with high fees and almost no incentives for the users to use their services.

How would you articulate how the concept of money has changed in recent times? Is it really a change? How is it still the same? Can you explain what you mean?

Money is the tangible form that humans have created to bring trade and transaction of value at scale, money has value because we all as a society have agreed to give it value. The form itself of the concept of money will change during the years as we have seen during the last centuries.

Based on your vantage point as an insider in the finance industry, what innovations should we expect to see in banking in the short and medium-term?

I believe that in the near future we will see more and more financial products that use DeFi as backbone at the same time that they bring a great user experience for the mainstream user.

How has the pandemic changed the way banks interact and engage with their customers?

Yes, now they are forced to do 90% of their user interactions digitally.

In my work in the telecom space, I’m very interested in the importance of user experience. How much of your interactions have moved to digital such as chatbots, encrypted messaging apps, phone, or video calls? How has this shift impacted the user and customer experience? What challenges do these apps present when used as a customer engagement tool?

Everything we do is remotely and we all work with online tools.

If you could design the perfect communication feature or system to help your business, what would it be?

A communication based on voting mechanism where you can soft-launch new features on a weekly basis with your users so they can get a reward for doing that.

Fantastic. Here is the main question of our interview. What are your “5 Things You Need To Create A Highly Successful Career In The Modern Finance, Banking and Fintech industries?

• Hard work.
• Be openminded.
• Have the right contacts.
• Learn on a daily basis.
• Create a work methodology that allows you to to maximize your time.

You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)

I encourage people to read about Web3 and how all this new technology will impact society in the coming years.

How can our readers further follow your work online?

Follow Rand here: https://twitter.com/RandNetwork

Join our telegram group here: https://t.me/randnetwork

Thank you so much for the time you spent doing this interview. This was very inspirational, and we wish you continued success.