FintekNews is pleased to bring you our new series #BlockchainProfiles – featuring thought leaders within the blockchain and digital currency space. For the next feature in this series, we’d like you to meet Juan Hernandez, CEO of OpenFinance Network, which is a trading platform for alternative assets, including security tokens and other tokenized assets.
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Juan HernandezTITLE:
Founder/CEOCOMPANY:
OpenFinance NetworkWEB ADDRESS:
https://www.openfinance.io/How did you personally become involved in blockchain?
We started exploring blockchain technology at the firm in 2016, when like any other financial exchange we started looking at it for clearing & settlement.
What does your firm do/offer within the blockchain sector?
The plan was always to leverage the strength of blockchain technology. We’ve been working on the blockchain-related development of the OFN platform for over a year. However, we’ve built relationships across the appropriate counterparties and raised funds in the traditional capital markets as well; we believe standard funding still has a place in innovation.
That said, we think it’s critical to practice what we preach. The clearest way for us to express our belief in the value and potential of blockchain technology is to actually use that technology to do a capital raise. This particular token distribution event is targeting a different kind of investor, giving them the opportunity to purchase future computing time on the most exclusive, next-generation platform ever created. Today, we’re one of the very few platforms to have fully supported a securities token trade.
What is your role within your firm and what do you do there on any given day?
I am the founder and CEO of OpenFinance Network. On a big-picture level, I am responsible for establishing strategic partnerships and business development. On a day-to-day level, I manage a talented team of developers who bring our most innovative products and solutions to life, and who ensure smooth transactions across all functions of our platform.
What area/s of blockchain do you believe will grow the most in the coming 5 years?
In the coming 5 years, I believe we will see the most growth from decentralized exchanges. OFN believes that the disintermediation of financial markets is to the benefit of the individual investor, so long as there is proper protection for the Average Joe/Jane.
Ultimately, we believe regulation is in place for the benefit of everyone.
What do you believe the next major innovation in financial technology will be and why?
I believe resolving the issue of custodianship will be the next major innovation in fintech. For too long, this issue has been a large barrier to the institutional players as they step into this burgeoning market. I believe we’ll see a lot more efficiency within the fintech space once this matter is resolved.
What are the biggest problems facing the blockchain industry in the future?
We believe there is a significant need to improve inefficiencies in the alternative security markets to meet the rising consumer demand and challenges of the emerging “crypto” alternative asset class.
What has been the biggest success in your firm to date?
OFN has certainly seen a lot of success already, but the greatest win to date was being the first to hit the market with a securities token trading platform.