Dec 07 2023 23 mins
CoinGeek Conversations concludes its three-part Block Dojo mini-series with insightful conversations featuring innovators in blockchain technology.
In the latest interviews, Charles Miller meets three entrepreneurs completing the business incubator program: Robin Russel of Satva Trust, who discusses the use of blockchain to enhance emissions reporting in the shipping industry; Priyatham Varma of Back3nd, who explains his mission to empower non-technical individuals to create fintech products; and Luiz Adler of Smash Mountain Studio, who shares the journey behind developing the world's first Brazilian Jiu Jitsu game.
In the first interview, Charles speaks to Robin Russel, Co-founder and COO of Satva Trust, a company using blockchain technology to improve emissions reporting in the shipping industry. Robin stresses the importance of accurate data in an industry that releases around a billion tons of carbon dioxide each year, making up three per cent of the world's total emissions.
The current data on emissions is unreliable, creating problems for financial stakeholders like lenders and insurers. "It's really a question of visibility," Robin explains about having clear information to make informed decisions about business risks.
When discussing the market for emissions data, he explains that lenders and insurers pay for risk assessments using emissions data, along with shipowners who "would really like to showcase how well they're doing in that direction". However, unreliable data makes it hard for shipowners to showcase their environmental efforts.
The first step to producing more reliable data is to eliminate self-reported data from ships. Robin notes the importance of using satellite data, which includes weather, sea conditions, ship details, position, and speed, processed through AI.
Charles asks about the social and environmental motivations behind the venture. Robin asserts that "we're all interested in sustainability," acknowledging the team's commitment to addressing climate challenges.
As for the unreliability of data in the shipping industry, Robin noted, "It seems like a situation that needs to change. The technology exists now to make a change."
Next, Charles sits down with Priyatham Varma, founder and CEO of Back3nd and a former web developer and educator. He has a mission to empower individuals without technical skills to create their own fintech products.
As Priyatham puts it, "Back3nd is a no-code platform where anyone can easily build blockchain applications, especially for the fintech industry.” The platform is so simple to use that even those unfamiliar with coding will be able to build a business on top of blockchain, he says.
"Blockchain is an entirely new system and is rewriting the entire finance industry. You can be a beginner, but in two years, you'll be an expert in blockchain space.” Back3nd includes products like payment gateways, peer-to-peer lending platforms, and analytics dashboards.
Back3nd offers a range of subscription plans but as Priyatham explains, "if you don't want to subscribe, you can still use the free version, but we'll be taking a larger commission on every transaction. Subscribers enjoy reduced transaction costs and access to features like analytics dashboards.”
As for Back3nd's target users, Priyatham explains, “the first customers are entrepreneurs or innovators who want to build something on top of our platform, 60 per cent of the entire blockchain ecosystem consists of people who aren't coders but want to build something on top of it.”
Lastly Charles speaks to Luiz Adler, founder and Game Director of Smash Mountain Studio, about the latter’s journey behind creating the world's first Brazilian J