Reeve Collins is CEO of BLOCKv AG, a Swiss corporation. (AG is like “Inc.” in English) and had a conversation in Santa Monica, California outside in 98-degree heat on Oct. 24, 2017 with Alex Lightman representing ICO Crowd.
How long have you worked in the Blockchain space?
A little over 4 years ago I immersed myself by co-founding Tether, which later sold in early 2015 to Bitfinex
What excites you about working in the Blockchain ecosystem?
I am excited by the potential of BLOCKv to transform the world’s relationship with digital value. Bitcoin created a paradigm shift for digital currencies. BLOCKv creates that shift for digital goods.
What is BLOCKv’s purpose?
BLOCKv was created to inspire a global community of developers to proliferate a brand new digital asset class called vAtoms. A vAtom is a supertoken, a token that can be programmed with App like qualities vs. simply representing a unit of account.
vAtoms are going to increase the ways that people, companies, products, services, markets and even nations buy, sell, borrow, loan and swap with each other. These unique programmable digital objects that can represent value, contracts, and provide deep engaging experiences will usher in a digital goods economy, which can dwarf the current app economy.
What are some examples/use cases of vAtoms?
Tickets, loyalty programs, coupons, in game goods, AR/VR objects, any digital good that would benefit from the ability to be valued and owned.
Let’s consider Brand advertising. Today over $100 billion a year is spent in digital brand advertising and all of that value goes to middlemen (planning/buying/technology, and the website to display the ad), but none of that value goes to you, the consumer, which that brand is trying to reach. vAtoms change that conversation and enable brands to provide direct value to consumers and skip the middlemen altogether. Coca-Cola can “hand you” a Coke via the Internet by sending you a virtual Coke that is unique, redeemable, trackable and even gamified. You the consumer have now received an enjoyable experience which provided you real world value vs. being interrupted with an ad.
What can a vAtom do?
Well, what can an App do? Anything you program it to do. The same goes for a vAtom. Here is an image that lays out all of characteristics of a vAtom. As you can see, what it can do, is only limited by the developer’s creativity.
Why is this the trillion-object opportunity?
There are millions of apps and over a billion websites, all of which contain an estimated trillion digital objects. This whole universe of digital objects will benefit from BLOCKv’s technology because these objects now have the ability to break free of their app, website or device to become ownable, traceable, possessable, transferable, combinable, redeemable and intrinsically valuable. BLOCKv will give developers the ability to imbue or in some cases rethink their technology because of the advent of the vAtom.
You recently led BLOCKv’s token sale. What did you experience or learn?
That it is much harder than anyone would imagine and that it is getting even more difficult by the day. This market rapidly evolves and what worked yesterday will not necessarily work today and will definitely not work tomorrow.
It has been reported that 9 out of 10 start-ups fail. It has also been reported that 9.9 out of 10 ICO’s will fail until more regulation and higher standards are put into place. However, from that .1% you will see global tokenized business models that were never possible before, valued in the tens of billions of dollars.
How did the token sale go?
We are very excited with the results of our Token Generation Event. We now have ~$22m to deliver vAtoms to the world. Unlike the majority of projects out there, our technology is consumer facing. Soon there will be global awareness around this new type of digital object which will lead to more use cases, more innovation, and extraordinary demand for V, our network token.
Any final thoughts?
What has inspired me most about this experience is the realization that BLOCKv is pioneering an entirely new category of business models, businesses that are run exclusively on tokens enabling interests to be aligned amongst all of the participants, businesses which will change the way the world operates.
I think you’ll be recognized as a pioneer in tokenized business models. Thank you for adding to the capabilities of the Blockchain ecosystem with vAtoms.