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If co-ownership of precious things, special objects or unique assets is something that interests you then Tend has you covered.
Interview Of Founder & CEO Of TEND
Cryptoniam got an opportunity to connect with Marco Abele, Founder & CEO of Tend, during which he spoke on a variety of things and shared his insights with us.
Marco Abele comes with circa 20 years of banking experience, as Former Chief Digital Officer of Private, Retail & Corporate Banking at Credit Suisse and Deutsche Bank. He had also been voted as one of the “top 100 Bankers” and “top 100 Digital Shapers” of Switzerland.
Speaking of the core value or the reason behind the idea of ‘Tend’, Marco said,
“I wanted to bring a positive change in the world and give people access to things they could not afford themselves otherwise. We are tying to democratize the world by bridging the gap between highly valuable & appreciable assets and the masses. The driver for launching ‘Tend’ was to create a new and more meaningful world in which investments would carry some sentimental value as well”.
‘Tend’ is a properly audited company, incorporated under the Switzerland corporate laws. Tend currently enjoys a network of partners that help Tend in their operating model. At this juncture, they are in the process of building their product, which should hit the Swiss markets in 2 to 3 months time from now. The initial version of their product will given to the first 100 customers to get their feedback.
Unique Selling Propositions for Tend
Tend effortlessly amalgamates the real world assets aspect with technology, with the help of Tend’s beautiful user interface. Users get to experience their priced possession, for e.g. touching and feeling ‘a beautiful car’, ‘being on a wine yard’, ‘playing a musical instrument’ or ‘wearing an expensive watch’.
Tend tokenizes these valuable assets and puts them on to the Blockchain. This way people can opt and acquire co-ownership of these assets using the Tend platform. People can buy/sell these assets, interact with other co-owners on the Tend platform. Tend is trying to bridge the gap between the real world and the digital world.
Pain Point Addressed
Marco told that during his long career as a banker, he had seen and spoken with a lot of customers and analysed their needs and behaviors. He shared his finding:
“The modern customers are quite different than the traditional ones and their understanding of wealth has completely changed, when compared with what it was 20 years ago. More than only being financially rich, now customers want to be rich in knowhow, rich in experiences & rich in their social networks. The modern generation don't plan their lives, forty years in advance. They like to keep their options open and don't want to own too many assets, as more the assets more are the responsibilities. We see these consumer segments especially in emerging markets like Asia & South American nations. Mumbai, Jakarta, Seoul & Shanghai are some of the mega cities where we see our target consumers”.
Hidden Identity of Team Members
When asked why for some of the members on the Tend team do not have their identities publicly available, Marco told us that the ones in contention are still being onboard and hence certain level of confidentiality has been maintained for them, as of this moment.
Marco explained how Tend’s ICO process is completely regulatory complaint with any foreseen regulations that might come in the future.
The tokens are structured as security under the Swiss law, which entitles the token holders stakes in the company. The Tend tokens also gives the holder the rights to get dividends, once revenues start getting generated. This sort of token sale structure ensures that the Tend tokens remain shielded and totally complaint with any regulatory changes that might come up in the future.
In order to remain regulatory complaint, Tend has put in place a robust KYC process, money laundering control processes etc. Marco’s added that “we have taken some of the rules and regulations from the current world and have applied them to the crypto world”.
When asked about his strategy for tackling the competition in the space, Marco responded,
“I always like competition, because I like to win! We are in an open market and there is always a chance of a competition creeping in. They will try to better you are undercut you in pricing, but at the moment, I believe, we have the first mover advantage. The recipe for staying ahead of the competition is by staying closer to the customer and by knowing what they want”.
Along with all of their customer relationship development efforts, Tend is also trying to develop a network of strategic partners, that include high luxury brands and in certain cases even exclusive partnerships, which will ensure that Tend always remains at the forefront of this space.
Blockchain Technology & Its Future
In Marco’s opinion the Blockchain industry is heading in the right path. Support and collaboration amongst various Blockchain companies is important and those times are long gone where organizations used to grow in isolation. Marco further explained:
“With Blockchain, it is going to be an integrated world of several applications and several businesses running on the same network. And that to me is a fascinating world, which I believe can not be stopped. The Blockchain technology is still in its early days and suffers from the efficiency and performance issues, but I feel, in this year we will see a lot of maturity and advancements in those aspects too. One mustn't mix cryptocurrencies with all the other possible use cases of Blockchain technology. The Blockchain technology has a lot to offer, which has the potential to change the traditional business models upside down”.
Note- Investing in ICOs can be risky. Please do your own research before investing. This is not a financial advice!