What has been the biggest failure in your firm and how did you adapt?
An alternative asset manager in the P2P space asked to have a platform built to support loan management. It was a great opportunity with an incredibly pedigreed group, but it took our focus off of staying true to pure Financial Services. We quickly refocused on our core services.
What blockchain leader do you admire the most and why?
From what I have read, IBM seems to be taking great strides in creating solutions for a number of industries. From food safety issues to inventory management I think they have uniquely embraced blockchain. I think we will see a lot out of Big Blue.
How do you feel consumers (or if more relevant for your firm – businesses) are adapting to the facet of blockchain that your company operates within?
The Retail space for investors has been super-hot for the last three years in the Crytpo space. By providing Wall Street grade solutions around execution and reporting with a global reach, we believe we are giving institutions comfort in being able to trade and manage risk in solutions that are familiar to them.
If you were to personally invest in just one blockchain firm (other than yours), which one would it be and why?
I am big fan of Ripple and their management. I believe their global payments infrastructure is a game changer and will help to speed the time of payments globally while greatly reducing costs. This is an example of where blockchian is doing exactly what it was designed to do. These solutions will be extremely beneficial to the underbanked.
Leveraging the power of the Interledger Protocol (ILP), the Ripple Solution offers a way to simplify and reduce the cost of developing inclusive payments platforms to connect customers, banks, small businesses and local governments that I believe will greatly accelerate growth and globalization in an inclusive way.
Michael Petersohn is a Co-Founder and Director of Sales & Business Development at Arc Fintech, which was founded on the philosophy that workflow automation is a fundamental building block of success to an organization.