Daring to Dream: Interview with 2030 Group CEO, Tomer Sofinzon

May 13, 2020
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Louisa Bartozsek

As 2030 Group unveils its new logo and brand identity, CEO and Founder, Tomer Sofinzon, explains his vision, growth strategy and outlook for the year ahead.

 “The potential of blockchain to transform society for the better is truly phenomenal and we need to take action, now,” Tomer Sofinzon (May 2020)

 

2030 Group Founder and CEO, Tomer Sofinzon, is not afraid to dream big and encourages colleagues to share his sense of urgency as he ambitiously builds a company he believes will be a world leader in the year 2030. As 2030 Group unveils its new logo and brand identity, Sofinzon explains his vision, growth strategy and his outlook for the year ahead.

Who are 2030 Group?

We are a global innovation company which uses distributed ledger technology (DLT) to solve real world problems.  

 

Scalable solutions which will transform every global market and give our customers, who are generally on the cutting edge of innovation themselves, a competitive advantage. Or as I often call it, an unfair competitive advantage as those who incorporate technologies such as blockchain into their infrastructure will have a far superior operating model – faster, cheaper and much more secure.

 

Our vision is be the number one provider of DLT in the world. A one-stop shop. We view ourselves as a catalyst for change to transform global supply chains and operating systems, unlock new liquidity to stimulate economic growth, and make “online” a safe place for society to live, work and play.  

 

Ultimately, our goal is to build products and services which will be mainstream in the year 2030.

 

What makes 2030 Group different?

 

We are a dynamic blend of a private equity firm, venture capitalist, accelerator and a multi-national technology corporation. We’re unique in that we do not have an immediate direct competitor.  

 

This is because we are blockchain agnostic.  We have a broad range of solutions built using both public (Ethereum) and private (Corda) blockchain technologies. This means we are flexible and adaptable. For our customers, this means that in a rapidly evolving and consolidating technology landscape, we do not ask them to “make a bet” on what blockchain will “win”, but rather to invest in solutions architected in such a way that they will work with any underlying blockchain architecture.

 

And, we are market agnostic, in that our solutions are adaptable for all sectors and market verticals. We believe all markets are ripe for digital transformation.  

 

What is 2030 Group’s growth strategy?

 

Our approach comprises three core pillars: acquisition, inhouse innovation and market partnership.  

 

We acquire early stage businesses which fulfil an identified and scalable market need within our DLT stack and deploy our company experts, our rocket fuel, to accelerate their go-to-market strategy.  

 

We nurture in-house talent through our innovation centre (Rocket Labs) and our ‘entrepreneur-in-residence’ programme. If an idea passes our strict criteria of one, is it solving a real-world problem? Two, is it something the market wants or needs? And three, is it scalable? We create a project team and run a safe pilot.  

 

Those which are successful are turned into standalone businesses, like Mozaic Markets. Those which are not, we close safely. Recycling the IP, learning from our experiments, and reinvest our learnings into existing solutions or a future pilot.

 

Third, we have a fast-growing network of strategic market partnerships around the world in a range of sectors from financial services to precious metals and healthcare. To name a few. We work closely with our partners to understand their customers and collaborate with their market experts to build stronger solutions, faster.  

 

Why would a company choose to use DLT or blockchain?

 

A distributed ledger is one which is shared with those that have been granted access. Crucially, everyone can also trust the information contained in the ledger because it has been verified for accuracy, it is transparent, and, it is permanent.  For businesses, this is compelling in many ways in that it:

 

  1. Improves operational efficiency - by reducing friction in operating models, eliminating waste, reducing expenses and accelerating processes, for example KYC compliance accelerated through decentralised identity.

 

  1. Lowers supply chain risk - giving all accredited parties access to information so they can ‘track and trace’ a product or service from start to finish, including certification of regulated products such as food and medicines.

 

  1. Improves customer safety - decentralised data storage removes value for hackers found in today’s centralised data ‘honey pots’ whilst upholding individual privacy rights.

 

  1. Increases competitive advantage - due to its cryptographic nature, DLT offers unrivalled security and immutability, making it ideal for storing highly sensitive, personal data which, when smartly integrated into permissioned digital platforms, can substantially enhance a customer’s online and real-world user experience.

 

  1. Unlocks new revenue - It can support the creation of brand-new financial instruments generating lucrative new revenue streams for asset owners and investors alike, particularly through tokenization.

 

What do you mean by ‘real world problems’?

 

There are real world problems in every sector, in every market in the world, where DLT can help. From the climate crisis, to cybercrime, fraud, ESG issues in supply chains, and so on.

 

For example, let’s take healthcare and managing a public health crisis, such as the one we face today.  

 

In a pandemic, real time access to trusted data is absolutely vital. Governments and healthcare decision-makers need:

 

  • Transparent supply chains for medicines and personal protective equipment (PPE) so they can understand available resources, where they are, and what supplies may need to be urgently ordered.

 

  • Track and trace data as a disease spreads so they can understand how many citizens have been infected or may have come into contact with someone who has and can use this data to inform decisions around pandemic policies and resource deployment. And, data collected in a way which protects individuals from potential data abuse by bad actors (a risk if the data is collected in a centralised way) and is compliant with relevant data protection regulations, such as GDPR in Europe.

 

DLT is the only architectural approach on the market today which provides the tools governments and healthcare companies require to collect the data needed, whilst protecting populations from digital fraud and data abuse.

 

To help, our identity tech specialist, IDWorks, has created a decentralised blockchain-based solution which they are tailoring for different certified health authorities around the world to issue digital certificates for Covid-19 test results, as well as other government-mandated certifiable elements that may be required in the post-Covid world.  

 

You mention the Climate Crisis, how can blockchain help?

 

There are a number of ways in which blockchain can contribute to the climate change. Our main ESG focus today is Forestry. Our fintech specialist Mozaic Markets is using DLT to create a new financial instrument called Tokenization, which we will use to create the world’s first Forest Token.  

 

Trees, the lungs of the earth, are the most powerful machine to combat climate change. But deforestation is rampant and accelerating. It is our goal that Forest Tokens will incentivise forest protection and create a sustainable new source of revenue which, as well as generating a new return for investors. It could be used in places like Africa, where poverty is a significant indirect cause of deforestation, to accelerate improvements in agriculture and infrastructure to tackle food security and poverty.

 

There are hundreds of thousands of hectares of forestry globally that are being sub optimally managed in terms of one, understanding their impact on the climate emergency and two, their return to the owners of these potentially lucrative assets. Understanding the scope of these areas and importantly, injecting liquidity into these notoriously illiquid assets is what Mozaic Markets is focused on delivering.

 

How big is the market opportunity for blockchain and DLT?

 

To echo the words of Klaus Schwab, Executive Chairman of the World Economic Forum (WEF), we stand on the brink of a technological revolution that will fundamentally alter the way we live, work and relate to one another. In its scale, scope and complexity, the transformation will be unlike anything humankind has experienced before.  

 

The potential for blockchain, particularly when combined with artificial intelligence (AI) and Big Data, is extraordinary and is part of the reason for the onset of what many technologists describe as the Fourth Industrial Revolution. It’s not merely game changing, it is an entirely new game.

 

Estimates by Gartner indicate that by 2025, the business value added by blockchain will grow to slightly more than $176 billion, with that figure surging to over $3.1 trillion by 2030.

In addition, the WEF estimates Artificial Intelligence sets of technology solutions will create a $16 trillion new economy. Together, that’s about 20% of the world economy that will be replaced by these emerging technologies by the year 2030.  

 

 

What does 2020 hold for 2030 Group?

 

We live in unprecedented times and its difficult for any company to predict how their business will unfold this year.  

 

That being said, for 2030 Group, we are fortunate in that our business model allows for everyone to be able to work from home and be able to collaborate as one virtual team. In many ways, it is business as usual.  

 

Our technologists continue to advance the creation of our new state-of-the-art solutions, with a sharpened focus on digital identity, traceability and tokenization.  

 

Our sales teams are partnering closely with our visionary market partners who want to be the first to market with the new DLT solutions and have the edge on their competitors.   

And we are advancing talks as much as we can remotely with a number of international strategic partnerships in North America and Asia-Pacific which may lead to more formal arrangements. Subject to travel restrictions being lifted, it is our intention to expand our global footprint this year with new offices in both continents.  

 


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