When we started to envision Galion as the ultimate platform for personal finance management, we thought a great deal on what our place in the evolving blockchain and crypto ecosystem would be. We had this deep conviction that the way we would approach product development had to be rooted in how we thought the ecosystem would evolve, in order to ensure we would provide great value to the ecosystem and our users.
The crypto ecosystem is changing at a fast pace, with decentralization at heart, and we see every day the arrival of new ambitious companies offering specific and varied services (crypto debit cards, loan services, insurance etc). This decentralization is the central aspect of the blockchain revolution and brings about countless benefits to the community and society as a whole. In the early stages, we looked at the big picture and asked ourselves: “how do we provide users with all the financial services they need and deserve within this decentralized ecosystem?”. We quickly arrived at the conclusion that to provide the best financial platform for our users, integrating third party services was the only way that made sense.
Developing our own service offering, from crypto debit card to a traditional bank account would have made no sense, as we would have went against the decentralization aspect that makes the strength of the ecosystem and represents its best bet to grow and change the world. Moreover, integrating third party services will allow us to develop our product faster while focusing on user experience. In a world where technology evolves so quickly that dozens of new businesses emerge every day to answer the new arising problems one is being confronted to, speed is of paramount importance. Releasing a feature in a matter of weeks instead of months or years can mean the difference between solving an important issue and helping people, and irrelevance. This approach will make it easier for us to stay on top of innovation, both in the crypto and legacy worlds.
With this strategy, Galion will bring a unique value proposition to the ecosystem:
- It will allow the user to benefit from a unified user experience for vastly different products. Switching between interfaces reduces fluidity in product usage. One has to become familiar with different layouts, often getting in the way of in depth interface knowledge acquisition, hindering progress and making it difficult for the user to become proficient at all the products he/she is using. By combining all the best services into a single interface, Galion will allow its users to benefit from the full potential of the decentralized crypto ecosystem (no central governance, more freedom, no possible censorship etc.) while taking advantage of a unified way of presenting information, a single user account, and an overall emphasis on user experience.
- It will give users freedom of choice over which service they like the best and fits their needs the most, providing them with the opportunity to tailor their personal finance’s management solution to their very specific needs. This flexibility is a major strategic advantage when compared to what traditional actors such as banks do when they develop all the services they offer to their clients in house.
Developing a product people will use daily will allow us to help the best (and not necessarily the biggest) projects to reach adoption and mainstream status. Many projects, and with time this number will only grow, have the potential to bring deep changes to people that remain ignorant of their existence. There could be several reasons at the origin of such a situation: maybe the project is still in its infancy, has all the foundational technological building blocks but lacks traction, or maybe the service it offers has strong following in a specific country or niche and finds it hard to expand. In any case, Galion’s community could help those strong projects reach mainstream adoption, benefiting the entire ecosystem.
The Galion marketplace (on which we will write in a coming article) will be developed in this context. Having integrated services means that no matter what services users might use, they will always benefit in full from the Galion marketplace, and benefit from world class expertise tailored to their needs and their financial situation.
Galion will empower the whole blockchain ecosystem. By integrating the most innovative and useful services to its platform, Galion will bring these projects to users in a product that will be both philosophically and technologically more relevant than traditional centralized service providers and banks.