“For those working in the blockchain space, it is important to focus on growth and adoption at both the retail and institutional levels,” Zatoshi said.
Let us introduce influential co-founder Zachary Saltmer a large fund, affectionately known as Zatoshi in his circles. As an experienced trader and venture capitalist, his insights have had a profound impact in the field of crypto markets, especially with innovations such as BRC-20 and ERC-6551. As we move into the next cycle of growth, let’s get some valuable business wisdom from Zatoshi on topics ranging from launching an investment fund to the root causes of startup failures.
You’re welcome, Zachary. We are thrilled to have you with us today. Can you start by sharing some details about your personal background, your business skills and your journey in the crypto sector?
Hi, and thanks for having me. I’ve had a wide mix of business experiences, ranging from ecommerce and music to my initial venture being a fabulous clothing venture, to a fair share of business ventures that didn’t quite take off. These experiences have taught me to see failures as a stepping stone to success, as long as one is willing to learn from them.
My crypto journey started in 2013 with my first Bitcoin Purchase Since then, I have been fortunate enough to come across many success stories and collaborate with some truly brilliant minds. This journey has shaped me into the entrepreneur I am today, and helped me develop a sophisticated trading algorithm for an upcoming product. My proudest achievements are the companies I built without outside funding, even if the road to success was paved with a series of failures and successes.
Currently, I am focusing on self-development, and encouraging my team to do the same, by completing various blockchain-related certifications to strengthen my credentials and demonstrate my expertise in the on-chain area. I have been
fantastic. One Big Fund is your first significant venture in the crypto industry, isn’t it? Can you throw some light on your experience in raising the fund and the challenges you faced? I am sure our readers who are considering launching a venture capital fund will find your insight valuable.
Absolutely. Inspired by the challenge of structuring a modern fund, we set up One Big Fund in mid-2022. The rapid growth of blockchain technology and the variety of products and services it has enabled over the past decade has inspired us. We leveraged our collective experiences and lessons learned from past business ventures to build a startup designed to empower budding entrepreneurs and startup founders.
One Big Fund is a self-incubated venture, which serves as a solid proof of concept. We faced minimal challenges during its launch and are now focused on developing our first customer venture. However, potential fund starters should be prepared for challenges such as liquidity crunch and regulatory pressure. These can be mitigated by implementing a comprehensive due diligence and compliance framework from the outset and actively seeking high-liquidity market opportunities supported by solid data analytics.
From your perspective, what advice would you give to entrepreneurs interested in Web3? Should they rely on traditional funding, opt for DeFi, or consider a hybrid approach?
There is no one answer that fits all. My advice to entrepreneurs would be to identify trends through rigorous data analysis including search data, venture capital data and blockchain data. This approach lays the groundwork for flexible and robust investment strategies.
Web3 entrepreneurs need to have a clear understanding of what type of companies or projects they want to serve. This understanding will guide their market research and data analysis, helping them make informed decisions about their funding approach. For example, if their target market includes crypto-native entities, DeFi-based solutions may be ideal. Conversely, for services that require crypto-fiat conversion, a hybrid approach may be more appropriate. I personally believe that the future of digital funds lies in the DeFi-TradFi hybrid.
On the subject of Web3 businesses, how do you suggest they navigate the ever-changing and somewhat uncertain global regulatory landscape, especially with recent developments such as the MiCa bill in the EU and the actions of the US authorities against several crypto-based firms? In light of development?
Compliance frameworks that dynamically adapt to the evolving landscape are important. At One Big Fund, we have implemented robust AML and KYC/KYB practices since inception and have maintained transparency in our business activities. We have introduced a unique concept called Proof of Business, where we build nft On OpenSea and issue them to our partners using on-chain credentials for effective due diligence and business verification.
Impressive! Along with One Big Fund, you have also recently established a crypto bank called MEQA. What is your vision for this project, and how does it contribute to the overall development of the crypto industry?
I believe digital banking is the future and it is here to stay. Over the years, I have recognized the need for alternatives to traditional banking infrastructure, a need that MEQA seeks to address. The recent banking crisis in the US has only underlined the importance of MEQA. Despite the challenges, we are striving to launch this crypto-bank as soon as possible.
MEQA will play a key role in promoting large scale blockchain, crypto and overall Web3 adoption. It can be seen as a secure, crypto-native wallet with advanced banking functionalities, bringing together the best of both worlds.
In light of the banking crisis, many experts attribute the liquidity crunch partly to Reserve banking and regulatory action. How does MEQA plan to address these issues?
Although MEQA has not yet launched, our primary objective is to promote transparency by building a community-first platform. We are offering an advanced, non-custodial solution where consumers are always in control of their funds. We are essentially providing an encrypted wallet with banking features and a strong security layer, integrated with AML and KYC/KYB compliance mechanisms.
Startup founders will be able to self-custody their funds through trusted partners using MEQA, which I believe is our most attractive selling point.
Thanks for sharing your invaluable insight. Before we conclude, can you leave some final thoughts or advice for our readers?
Absolutely. After my years of experience in business, my advice to budding startup founders, especially founders in the web3 space, is to take a long term perspective. Success is hard-earned and requires time, effort and dedication, whereas failure is relatively easy. However, an innovator’s vision for the future serves as the best guide. Don’t be afraid to take risks, experiment, and most importantly, learn from your mistakes.
For those working in the blockchain sector, it is important to focus on growth and adoption at both the retail and institutional levels. With the digital transformation of traditional assets imminent, an opportunity to significantly impact the course of financial history is within reach.
Please check out the latest news, expert commentary and industry insights from Coinspeaker contributors.
Bitcoin Crypto Related Post