Venture Leaders Fintech Interview: Meet Khaled Ouafi of ARCATrustby Venturlab Fintech August 2, 2018
The company provides a highly secure and easy to use platform for managing digital assets – going beyond cryptocurrencies to databases in the insurance or healthcare industries, for example.
This is the 4th part of the Fintech Startup Interview serial powered by Venturelab.
Venturelab brings this autumn 10 Swiss Fintech Startups to New York
Who are you, and what’s your big idea?
I am Khaled Ouafi, cryptographer and CTO of ARCATrust. We’re building the most uncompromised, secure, yet user-friendly gateway solution to allow enterprises to make use of blockchain technology.
Where do you see the biggest opportunities in fintech over the next five years? What problems urgently need to be solved?
Cutting out the inefficient middleman has been the core of many successful businesses over the last years. Nowadays, processes are about optimisation, efficiency, and timely execution. The blockchain is the ultimate tool for achieving this efficiency, and the fintech industry has been the first to understand this potential. However, the risk in this technology is proportional to its advantages, and for that, easy-to-use solutions need to be provided.
What is pushing you towards international expansion?
With decentralization, the world has become like a small village. Entities from different continents communicate continuously and international networks are being put in place to address worldwide issues. To be part of that game, we need to expand to the international stage, get into these networks, and put in our name on it.
What do you see as the greatest obstacle to expansion into the global market?
While a lot of global players are teamingup, one big obstacle we see is the kickstart of a strong international partnership. Global players like global names, and for this reason, we are in discussion with well-known corporates to endorse our technology and support our solutions.
What attracts you to New York as a business development destination?
New York is one of the world’s biggest financial and fintech hubs and is the home of several of the big corporates we are targeting.Going there is a fantastic opportunity for us to get to know these corporates better as well as the larger corporate market.
What do you hope to achieve on the trip? What are you most looking forward to?
Europeans and Americans have different ways of doing business. While we tend to focus more on technology and offering, they tend to be more business- and market-oriented. This trip is a perfect chance to learn in person from their way of doing business.
And what are you nervous about?
As I tend to take my time unfolding our products and explaining their benefits, I have to get used to a much higher pace and more rapid decision making. This change of approach can be challenging, and this is what I am preparing for!
How is the Venture Leaders program beneficial for your startup?
Founding a company is a leap of faith. However, during the journey, you find partners who are here to guide you and provide advice on how to keep track of the most important things. This is what the Venture Leaders program has been so far for us: a series of enriching encounters and an opening to a much larger perspective!