Interview With Alexey Chalenko: 7Seconds

What is your background briefly?

I started my career as deputy treasurer at MDM Bank in 1998. Four years later, I moved to the financial corporation URALSIB where I was Chief Investment Officer, Head of Asset Management and Private Banking and member of the board. In 2006-2009, I was CEO of Alliance Continental, an asset management company of the Inteco group, before rejoining URALSIB to create and later head the group’s real estate and private equity business. Subsequently, I was Deputy Chairman of MDM Bank and adviser to the state atomic energy corporation Rosatom and ER Telecom Holding. In 2016, I founded 7Seconds, a fintech company that runs a global credit marketplace, allowing applicants for POS loans to choose the best deal from offers made by lenders in 7Seconds’ ecosystem.

Does it seem like a logical background to what you do now?

Absolutely. I spent two decades in the finance sector and, thanks to my experience, I can see inefficiencies and, also, opportunities for making the industry more efficient. So, I formed 7Seconds.

Give us a one-minute pitch for what you are doing now.

 7Seconds is an already established and working company, but we want to take it to a new level thanks to blockchain technology. Currently, 7Seconds is building a blockchain immutable credit record database, which will be available to all lenders in the ecosystem, allowing them to reduce spending on credit record information and thus lower interest rates on loans. Now, when a customer applies for a loan on the 7Seconds platform, the platform forwards the application to partner lenders. Lenders buy information from credit bureaus. Every lender has to spend money. Then all the lenders make offers to the customer who chooses the best one. Only one lender eventually issues a loan, and the other lenders lose money. With our new solution, 7Seconds will independently buys credit record information from credit bureaus and other sources and make that information available to all potential lenders on the blockchain. The information will be equal, transparent, and immutable for all participants in the ecosystem. Only the lender that issues a loan to the customer will pay for the information. Lenders that don’t issue the loan will pay nothing. As a result, lenders’ spending on credit record information will be reduced dramatically and they will be able to offer customers more attractive interest rates on loans.

Why did you get involved with this ICO?

It would be more correct to ask why we chose ICO as the funding model for our solution. First of all, this is a blockchain project, so choosing the ICO funding model was a natural choice as it would ensure proper scalability. In addition, we hope to achieve synergy from combining various cutting-edge technologies, such as blockchain, AI and neural networks.

Why do you think it is such a powerful idea?

If executed properly, this solution can be a game changer for the finance sector. Lenders will be able to offer customers POS loans on better terms. So, the number of loans will go up and so will sales at online stores. The entire global economy will benefit.

How can people find out more about

1. The ICO

 www.7seconds.io

 2. you & your work?

 https://www.linkedin.com/in/alexey-chalenko/

 How can people contact you & learn more about you?

https://7seconds.io/

https://medium.com/7seconds

https://twitter.com/7Seconds_io

https://www.facebook.com/7secondsloans/

https://www.linkedin.com/company/7-seconds/

https://www.reddit.com/r/7Seconds/

https://t.me/sevenseconds_io