“Confessions of CEOs” is a series on how business owners are changing the service landscape. Today, we’re chatting with Ric Asselstine, CEO and founder of Geeq, a blockchain platform services firm. Ric discusses how to scale a business and the importance of trust in both people and data.
Induced serendipity. A few years ago, I had been searching for a scalable blockchain solution to integrate with Terepac, a full-stack internet-of-things (IoT) technology. I read a paper called “Blockchain and the Economics of Crypto-tokens and Initial Coin Offerings” by Dr. John Conley, a Vanderbilt Economics professor, following his sabbatical from Microsoft. It turns out he had been thinking about a better approach to blockchain validation. We connected immediately. When I read John’s article, I immediately thought how bright he was and how easily he pulled simplicity out of vast complexity; most of all, I loved his sense of humour. I always look forward to reading the footnotes in his papers; like crackerjacks, he hides good things at the bottom. We’ve since developed a profound trust in one another. These days, I bring the bus, John brings the tech.
Together, we’ve created an affordable multi-blockchain platform secured by our Proof of Honesty protocol™ (PoH) ideal for protecting highly valuable enterprise data.
How would someone go about using Geeq?
By definition, blockchain allegedly guarantees that a particular action took place. Unlike other blockchain technologies, Geeq’s PoH truly provides that assurance. Geeq supports all usual use cases for blockchain, including but not limited to:
– Smart cities
– Document management
– Supply chains
– Micro-commerce (i.e. financial transactions involving very tiny sums of money, typically online).
The actual use cases are limited pretty well only by the imagination. It feels like the dawn of the internet.
By marrying our proprietary technology to a business model, we’re unleashing a new way to communicate, interact and transact at scale. The platform will manage billions, even trillions of transactions, enough for a smart city with all of its IoT devices. No other blockchain platform comes close to that level of scale and trustworthiness, despite attempts at decentralized micropayments for several years. Our validation engine, PoH, seeks to enable the next era of decentralized business and will power a public blockchain platform, much like a car engine does. Not usually seen, but that which provides the power.
Why is trust so important?
Trust is the foundation of everything whether it’s a personal or business relationship. Our team endeavours to reinstate confidence in our fast-moving, fragmented world. Despite the astounding evolution powered by the internet continues, trust continues to erode. Geeq is partly a response to that phenomenon, and we are working as quickly as we can.
What is the #1 lesson you’ve learned about leading the way in blockchain?
Persistence. Stick-with-it-ness. If you believe in something, or someone, you find a way to see it through.
What tool do you use every day to guarantee success at scale?
I’ve developed a sense-making lens to focus my efforts comprised of 7 C’s: Code + Customers + Community + Compliance Creates a new Category of Commerce. Without this organizing metaphor, it would be pretty tough to maintain focus on the pillars needed to succeed. When I put these glasses on, things clear up pretty quickly and I’m more readily able to steer the ship.
When it’s all said and done, what do you hope Geeq to have achieved?
To be a thread that helps weave the world together.
Geeq is a preferred partner on Beaze.