Meet MELD —Patrick Ramsauer
MELD Advisory Board
Welcome to Meet MELD
This is a series to provide some insight and understanding to the faces behind the MELD team. We have a vast range of engineers, designers, economists, advisors, and researchers from all parts of the world including Norway, Sweden, Vietnam, Japan, Canada, and with more partnerships, new team members, and advisors joining the MELD team, this list just keeps on expanding and getting better!
Continue reading to find out about Patrick’s role with MELD…
Patrick joined the MELD team in May, bringing his broad background in the financial services industry to MELD. He began his career in Corporate Finance, later started an asset management and a renewables energy company, and has been in data science for 4 years, first at Palantir and currently at SEKAI, a digital twin company.
Questions and answers…
What do you do for MELD?
I’m supporting MELD on the connection between the financial world and the protocol as well as the setup in Switzerland. I’ve been in the financial space for 15 years and bring broad experience in the traditional financial systems and their operations to MELD. As an entrepreneur in the financial services industry, you have to have a holistic understanding of all aspects of the business, from the legal framework and operational setup to transactional processes and interaction with various banks. This gave me a unique perspective on the inner workings of banks — which usually are quite inefficient and will be challenged by new players in fintech and crypto. So, when Ken asked me to support MELD on the financial aspects, I did not have to think about it twice.
What did you do before working with MELD?
Long back I was an investment banker doing merger transactions and IPO’s. After that, I started an asset management company, a long-short equity fund. Within 5 years we managed to grow the fund to one of the largest independent hedge funds in Switzerland. After more than 10 years in the fund business, I then moved on to something with high personal interest: I started a renewable energy business building rooftop solar power plants and worked on many projects from portable solar power plants to smart solar microgrids in Africa. Renewables are a fascinating thing, as they change the energy market from centralized to decentralized production — plus hopefully will save the world.
Another interesting period started when a good friend connected me to Palantir, a Silicon Valley data analytics company. I ran Palantir’s business expansion in Switzerland and developed many interesting use cases across different sectors. Data is still underutilized because it is so complicated and expensive to connect. SEKAI, where I am responsible for finances, focuses on one of the most important challenges in data science and analytics: data interoperability. We developed a fast and efficient automated way to connect different sources of data, and are building operational digital twins for several large clients.
When did you first get involved in crypto?
I attended Blockchain and DLT meetups since 2016, but only started to become involved in 2020 when actual use cases and ecosystems started to evolve. The store of value concept of cryptocurrencies is interesting to protect individuals against government-induced inflation, but the real value is in applications — starting now with many ecosystems on different blockchains.
What do you like the most about crypto?
Crypto ecosystems bring disruption as they enable people to interact directly, without the intermediation of the corporate world. This changes the way we run our economies. For example, the banking business consists entirely of contracts between individuals and corporations, whether you make a payment, buy a security or take out a loan. Applications on smart contract-enabled blockchain will bring an economic boost similar to what we have seen in every industrial revolution — maybe even more.
Do you have any predictions on where crypto will be 5 years from now?
With more real-life applications the market adoption will increase, which in turn will increase the value of crypto. There is a lot of work ahead of us, but the market potential is huge — just think of the financial sector with securities trading or payment systems, two still centrally-operated concepts. There are billions of USD spent on operations, to run a central machine for business that can to a large extent be done on a protocol. These resources can be allocated better. I hope we will see a breakthrough in applications in the next few years, with MELD at the forefront of innovation in the financial sector.
What do you like doing outside of crypto and MELD?
Like most Swiss, I am an avid speed skier, and try to spend the weekends with my family in the mountains. But I also like to run, sail and play poker.
Any last remarks?
We are building the ecosystem for the economy of the future, and I’m thrilled to be a part of such a revolutionary force! Go MELD!
MELD — Be Your Own Bank
We think it’s essential for everyone to gain control of their financial lives and have equal access to financial instruments used by professionals, not just centralized institutions, governments, or the 1%. We want to provide financial freedom and control to the masses, including the unbanked.
We have a long-term goal to enable the $15 trillion that is currently locked out of the global economy, including 2 billion individuals worldwide that are either underbanked or have no access to banking services whatsoever, access to these tools. These are the people that are paying the highest fees, getting the worst customer service, and they are the ones that are having the most problems.
Our vision is to create an ecosystem that empowers individuals to regain financial control by providing them with the tools and services they need to manage their money on their terms. Whether that be creating a collateralized debt position (CDP) with cryptocurrency, earning an interest return for lending fiat to borrowers, or even participating in reward incentive programs, we strive to provide our users with the functions they need to manage their own financial lives.