Our Interview by Simon Cocking of Irishtechnews.
How are you different?
GxCoin by Genevieve takes a very different approach, a grassroots approach, which we believe investors, the community, small businesses, and the real economy needs. Reconnecting small businesses with their community is a way to create security and trust. We asked ourselves, what is the first cause of failure for small businesses, and how can we leverage current technology to solve this financial problem?
GxCoin is not just another coin. It’s different in that investments are backed by real assets and real local businesses. Prospective investors can look at these businesses and predict measurable financial growth. Investors will have a stake in these businesses, able to weigh in on financial decisions and receive quarterly reports so that they can have the foresight to make wiser investments.
Why will the company/product do well?
This ICO is an opportunity for investors to make an impact in the community, but also yield returns.
82% of small businesses fail within the first 5 years mostly due to the lack of proper funding.
It’s easy for a flashy application start-up company to attract venture capital funding, but if you ask your local coffee shop, barber shop, flower shop, restaurant, boutique, hotel, or any other local business, “Do you need more funding to grow?” the answer will undoubtedly be “yes”. This chasm separating the local economy and small businesses has never been more ripe for FinTech solutions.
It doesn’t stop at funding. GxCoin is not just a way to fund a local business, our primary role is to provide mentorship. With over 50 years of venture capital experience backing our company, we have the tools and experience necessary to help them create a viable plan to grow their business.
Where do the investors come in? Our selection process involves two steps: business selection and investor approval. Genevieve empowers crowd approval; utilizing the common-sense of the community and their endorsement. Crowd-sourcing is a very powerful tool. There is a reason that “ask the audience” was the most valuable lifeline on “Who Wants To Be A Millionaire?”
Where are you based?
The company is currently registered and located in Salt Lake City, Utah, United States, and Singapore.
When was the company launched?
The company was launched in Singapore and the United States in 2014.
What have been your biggest wins to date?
I will say that our biggest win is receiving a very positive message and enthusiastic support from our pre-sale investors. We are so grateful for them, and for seeing our vision for what it is: a win-win-win situation.
They are what makes the GxCoin Project possible.
What type of people (market segment) are you trying to attract to your product?
We need to engage three kinds of people:
- Early adopters of cryptocurrency, to give GxCoin momentum — a strong “frappe”, as we would say in France.
- Small business owners and partners.
- Members of the community interested in investing with small businesses.
This is all in order to scale beyond early adopters; creating one of the biggest places of exchange for the real economy world-wide.
We are financial activists, after all.
Tell us about your team?
It’s all about the people. I learned this from my course at Goldman Sachs and then again through first-hand experience.
Our core team is composed of highly motivated and experimental professionals in their area of expertise.
Duane has half of century of experience in venture capital. He has run more companies that I have fingers to count, managed and successfully closed deals of up to 8 digits.
Brian is young, brilliant, very clever and analytic. He has a talent for consolidating loads of information to deliver the core message clearly and concisely. He does not count the hours, and he is a true get-it-done character.
Taylor, our tech guru, just amazes me. This man works backwards. He is so passionate in his field of expertise and began his education at a very young age. His ability to understand and translate an idea or concept to code is nothing short of inspiring.
Stephanie is the gatekeeper of our project. She has this talent to facilitate a project and see it through to make sure things get done while keeping everyone in high spirits.
What are your favourite tech gadgets?
Probably silly but my new Earbuds (Apple)
What tech gadgets do you wish you could use to help you?
Pair of Google HoloLens.
Anything else you’d like to add/we should have asked?
What is my favorite plate and wine …
Choux farcie, Bourgogne rouge Romanee st vivant, Chateau Grenouille et Champagne Drappier (Mill 2002)
How do people get in touch with you?
In our website we listed our emails, phone number and social media.
We are also always happy to jump in a chat via Google Hangout or Skype.
Thank you Simon really,
Fabien
