By @. Great interview with Oscar A Jofre Jr. recently ranked #7 on the Top 100 FinTech influencers list. He is the founder and president/CEO of KoreConX Free All-in-one solution for companies for
#equitycrowdfunding #Fintech #shareholders #JOBSAct #CapTable #RegTech
Your background briefly?
I’m currently one of the top 100 global thought leaders in Equity Crowdfunding, and a Top 10 Fintech & Blockchain Influencer. I published an eBook that has been downloaded in over 20 countries, and been distributed by partners worldwide in English, Spanish and Mandarin.
I’m a featured speaker on Fintech, equity crowdfunding, compliance, shareholder management, and transparency in the USA, Australia, UK, France, Germany, Canada, Peru, Singapore, Indonesia and China. I speak on alternative finance, regtech, insurance, banking, legal, and crowdfunding. I also advise the world’s leading research, accounting, law firms and insurance companies on the impact fintech is having in their business.
I’m a member of the Crowdfunding Intermediary Regulatory Advocates (CFIRA) in the USA, and a contributing author to The Fintech Book, the world’s first crowdsourced book on fintech globally. He writes for DailyFintech, Sharewise, Locavesting, Equities.com, Business.com, Crowdfund Insider, Crowdfund Beat, and Agoracom.
How did you end up doing what you do now?
As an entrepreneur I have a passion for solving the big problems. I’ve been starting companies for more than 25 years. Each venture has provided me with further insights. I’ve learned how entrepreneurs think, and how companies need to operate and structure themselves for success, and gained the domain expertise within tech innovation to match. I’ve been involved in compliance and governance for more than ten years, and a saw a need for tools that supply the infrastructure companies need to stay transparent without losing sight of their business goals.
In my own previous ventures I saw the need to actively and aggressively stay transparent with shareholders and stakeholders, and I felt that entrepreneurs needed to be empowered to do so in a way that would work for them.
— Oscar A Jofre Jr. (@oscarjofre) July 15, 2016
Congratulations on your recent rating in the global fintech influencers – where did it all go right?
For me personally, it was in immersing myself in the sector. I tried to look at it all from 10,000 feet up, not just looking at one aspect of the eco-system, but all parts, and challenging myself. I am fortunate that by opening myself up to the global marketplace, it has allowed me to connect and collaborate with some of the brightest minds around the world. I’ve done my best to listen to what they have to say, and what the markets are telling me. I’ve had the chance to be immersed in the events and the conversations that are steering the global market, and see how it all fits together.
What are you working on right now, and if it all goes to plan, what might happen?
My current venture is 10 years in the making. When I first started the company, it was with the understanding that companies needed easier access to capital, and that orgtech was the key to making this happen. 2013 felt like the right time, as social media paved the way for Alternative Finance (AltFi).
KoreConX today is the all in one solution that helps companies navigate the process of raising equity capital, and simplifies shareholder communications to reduce risk. 10 years ago if you went to market with this, it would be a hard sell, but in today’s connected world, where business are demanding change, cost reduction, efficient capital raising, access to insurance, access to debt, legal services, KoreConX solves them all.
— Oscar A Jofre Jr. (@oscarjofre) April 27, 2016
By adopting the hyperledger Blockchain we can bring even further efficiencies not just within the company but to all the institutional pillars it works with.
We are first to market with such a solution.
— Oscar A Jofre Jr. (@oscarjofre) May 17, 2016
In the banking / innovation / fintech world, what are you excited about?
What is very exciting to me and my colleagues is the disruption that is happening to the institutional pillars of business around the globe. We have never seen anything like this before: banking, capital markets, private markets, legal, insurance, regulations are all being changed for the better, and with a scale and scope I don’t think the industry comprehends even now. The opportunities are endless since it requires the domain experts who have been inside working within the institutional pillars.
Banks are very progressive and we are seeing banks in Ireland, UK, Scotland, France, Poland and China who truly want to disrupt their current way of doing business for the good to ultimately help their business clients of all sizes.
Can traditional banks successfully innovate to deal with the rise of FinTech banking disrupters?
The challenge banks have internally that undermines innovation is the same problem any large institutions faces: their original culture was built around following directions, and not to innovate and disrupt. Now you’re asking that environment to look within itself, and to change how it does things on a monumental scale. Now, this is very important for any company: we need stability, so the workforce within the banks are not wrong, but what has happened is that within the these large institutions the culture has never changed.
The early Fintech disruptors have now show the banking sector what is possible and how they can implement these new ways of doing business.
If you could make everyone in Banking do what you told them, what would you command them to do?
To embrace the Fintech technologies to make their business more efficient, and for those who will be affected by these changes, there is great opportunities for you to leave the banks and solve the problems from the outside in.
Will bitcoin achieve wider adoption or not? What are your thoughts on the viability of wider adoption of cryptocurencies?
The cryptocurrencies of today are facing only one major issue: TRUST. And I don’t mean trust from a technology point of view. TRUST from the public. Most people today have grown up in a world where we have certain institutions to guide us in our acceptance of new things, so its natural for many to disregard this at first. Cryptocurrencies are making this shift and because of the other disruptions, like blockchain, the general public will see that cryptocurrencies and physical currencies are, for all intents and purposes, the same.
They say 2017 is going to be the year for Bitcoin to go further mainstream, and I personally believe its on track to make that impact.
Which thought leaders do you like to read / follow?
Here is some great people to follow Paul Bressner, Blythe Masters, Andreas Staub, Spiros Margaris. They discuss global solutions and see the big picture that is coming to us and how they can be solved.
How do you manage online / offline, work/life challenges?
For me its part of my life. Business and alternative finance are almost an obsession, so for me its all one; my life as an entrepreneur is not defined by on or off or work or personal. Its all ONE. This is hard for some people to understand, and its not always easy to find those who share that same perspective in life, but as you have read in many books, the entrepreneur’s life is often a very lonely road.
How can people contact you?
Oscar A Jofre
Founder, President/CEO | KoreConX
Email: [email protected]
— Oscar A Jofre Jr. (@oscarjofre) April 27, 2016