Nuco & Aion with Kesem Frank (Co-Founder) | EP31

Blockchain implementation in financial markets

In this 31st episode of Fintech Impact, Jason Pereira interviews Kesem Frank, Co-Founder, and COO of Nuco, a company that helps implement blockchain technology for financial service companies—in banking and securities. Kesem will speak about his career in Nuco, the effects of the blockchain, and cryptocurrencies, of which he has his own.

●     01:00: – Kesem started Nuco with two partners: Matthew Spoke and Jin Tu.

●     02:30: – Nuco was faced with the question of serving or building?

●     03:24: – He was working in technology, but went to school for law and business.

●     08:12: – Blockchain adds a new way to validate data.

●     12:09: – Cuts currently take 16-19 days to reconcile where the problem occurred.

●     14:19: – Blockchain is like a universal ledger to help stakeholders know the truth of what is happening in the value chain.

●     18:30: – The future of blockchain: private stake owners that have skin in the game that are going to run their own blockchain.

●     20:50: – Does the fact that I want to do business with you mean I have to blindly trust you?

●     23:09: – We have to make sure that capital markets are played fair.

●     26:09: – The Canadian Exchange likes what Nuco is doing with natural gas, and wants them to apply that to other areas and wants the inter-blockchain communication issues to be addressed.

●     29:09: – The conversation in the blockchain industry is evolving from what is the best blockchain to how do we take these excellent innovations and create one cohesive fabric that works as an ecosystem.

●     32:09: – A relay is an intermediary that steps in between two blockchains and mitigates between them—but isn’t a good solution.

●     36:40: – Bitcoin has had slow adoption in North American countries.

●     39:09: – Aion is a non-for-profit blockchain organization while Nuco has become its own business.

●     42:50: – The difference between the current age of platforms is not as fair as decentralization.

3 Key Points:

1. The trust engine was most crucial to Kesem Frank with blockchain.

2. How do you go to market where you don’t already do business?

3. A blockchain should be what goes in between any two blockchains.

Tweetable Quotes:

           -   “How do you actually bring it (blockchain) to a business and create a return that you could quantify?” – Kesem Frank.

           -   “When a cut happens it takes the exchange 16-19 days to figure and reconcile who dropped the ball.” – Kesem Frank.

           -   “(Blockchain) Universal ledger that is helping all of these fragmented multitude of stakeholders kind of know what is true and what’s not.” – Kesem Frank.

Resources Mentioned:

Facebook – Jason Pereira’s Facebook

LinkedIn – Jason Pereira’s LinkedIn – Website for Finally Technology

Kesem Frank – LinkedIn for Kesem Frank

Twitter – Kesem Frank’s Twitter