Austin Kimm: Cryptocurrencies Are The Future
I have spent more than two decades driving innovation in the insurance industry, looking for new ways to deliver an old product. But no matter how hard I tried to find new methods, I eventually fell back on tried and tested means such as banks, agents and packaged products. Then came along cryptocurrency based on blockchain technology and things began to change.
At first, people did not know what to do with blockchain. It was exciting and people wanted to get involved, but detailed plans were harder to come by — especially in insurance. So while the industry was trying to get its act together, I turned my attention to sectors that embraced blockchain with open arms and are now delivering tangible benefits to consumers.
Due to my background, I gravitated toward financial services products, which in turn led me to co-create Crypterium; a company that is changing the way people can use cryptocurrencies. With Crypterium cryptocurrencies are no longer just an investment tool that nobody knows what to do with, they’re real money that people can spend with ease.
With my conviction that cryptocurrencies are the future, I looked further afield for real use cases and initiatives that have the potential to change the world, not just make small improvements. It is this mentality which led me to become involved in Knowbella Tech.
There are three things any adviser must ask himself on a project like this:
- If successful will the project make a difference, and not just an incremental improvement, but real and lasting change?
- Why does this project need blockchain technology and how does it fit in? Put another way, is this simply an existing idea with blockchain and buzzwords thrown at it, or is the technology a key component of success?
- Does the crypto-token give back value to those people who believe in the project and for the many who buy it?
Knowbella Tech checked all three boxes. When you dig deeper into the opportunity and the gap that is being bridged, it is absolutely massive. I also love the fact that this is something different. Whereas Crypterium has several companies in the same space, I could find nothing that even came close to the scope of Knowbella Tech’s mission. Secondly, perhaps there are other ways of doing what Knowbella Tech is trying to do, but for my money, the only real way of achieving their mission is with blockchain. Finally, I love the reward model. This is key. Knowbella Tech does not simply reward financial investors, but everybody who contributes — including innovators, scientists, and all of the other people who really matter for open science.
My area of expertise is money and the management of money, and more recently in Initial Coin Offerings (ICOs). It is specifically in these areas of financial management and cryptocurrency that I can help Knowbella Tech to grow.
Like everybody, my time is limited and I have to pick the projects I support very carefully. It is with careful consideration that I choose to advise on any project, but Knowbella Tech’s vision was one I could not ignore. If Knowbella Tech is as successful as I believe they can be, the impact to the world will be massive.
