THREE QUESTIONS BILAL EL ALAMY CO-FOUNDER AND CEO OF EQUISAFE
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Can you start by presenting yourself?
I am Bilal El Alamy and I’ve graduated in physics, applied mathematics and a Business School. I’ve worked in the field of research, in the industry and as a digital strategy consultant at Accenture.
After winning a competition organized by Edmond de Rothschild at ESCP Business School during my studies, I’ve co-founded Equisafe where I’ve been acting as CEO for the past year and a half.
Equisafe is a regulated Legal-FinTech company landing its start-up phase. We are focused on improving the investment experience by reshaping capital stock management and financial information sharing using our multi-service platform that serves as innovative technical support to capital markets. It relies on blockchain technology and time-stamped smart ledgers to address the pain points of private markets.
By democratizing access to information, the Internet has facilitated access to many business sectors, including the entertainment and culture fields.
Today, we believe it should be as easy as to invest as it is to buy a book on amazon. Yet, it’s not and we are convinced that there is a real need and this is why we’ve started by offering rare real estate assets which are usually difficult to invest in. Take AnnA for example, the 6.5m€ Mansion, in Boulogne-Billancourt, we’ve fractionalised down to 6.5€ the share in June 2019.
Thanks to Equisafe, investing today is much simpler and easier than it was a few years ago. In addition to being an investment tool, the platform is also a management tool for companies, and other issuers of financial securities, to handle their governance closely with their investors. Indeed, blockchain technology allows time-stamped automation required to handle e-voting & general meetings, capitalisation table management, pre-programmed rights and automate a certain number of business rules, including real-time verification of investor profiles that, for example, speed up compliance checks to verify the permissibility of a transaction.
Built on Tezos, our platform does not emancipate itself from any intermediary: on the contrary, it offers them the possibility of emancipating themselves from their tedious tasks by providing collaborative tools where your lawyer, notaries, and expert accountant can participate efficiently in a specific workflow.
We are entering a new kind of management, for a new kind of behavior and we are proud to be at the forefront of the digitization of financial services. We want technology to be fusional and non-intrusive in order for all the parties taking part in a transaction to provide optimized services in the world ahead.
We created the company only a year ago and we have already achieved great success so far. It was challenging but we’re very much excited to keep on the adventure.
How do you define your relation with Tezos?
Tezos is one of the blockchain protocols we use at Equisafe. We are very bullish on the technology and the teams surrounding the Tezos ecosystem. One of the most interesting features of Tezos is the “delegated proof of stake”, a consensus method that reduces the number of interactions needed to complete a transaction between the different nodes of the blockchain network, this allows us to save energy and speed up transaction validation.
The security aspects are also very interesting, including formal verification and the on-chain governance system.
Moreover, It’s very energizing to see such an engaged community.
Finally, we work closely with Nomadic Labs, the R&D company that is in charge of developing Tezos in France, on topics such as formal verification or privacy layers in financial applications. We’re very close to the Tezos Foundation and other Tezos organism business-wise. So I would define our relationship as a friendly partnership with the shared vision of empowering the next generation of technologies.
Any recent news that you would like to share?
At the beginning of March, we officially launched the NyX standard, a new reference to exchange financial instruments on the Blockchain Tezos. The objective of this new standard is to replicate on the Tezos blockchain the entire financial infrastructure of issuance, purchase, and exchange of securities as it exists today, in order to streamline, accelerate and secure transactions.
The Nyx model will use the Tezos blockchain to secure and automatically execute more than 160 predefined business rules, which will allow reducing the transaction costs and avoiding a number of administrative errors.
NxY standard will enable:
- The creation of global register of immutable financial transactions operating on a basis of a harmonised set of rules
- The creation of an anonymized database of investors using “Zero-Knowledge Proof” cryptographic methods, fully secured and accessible 24 hours a day by issuers of financial instruments and regulators.
- The automatic verification of the conditions of the transferability of securities.
- On-chain custody of securities
- Automatic monitoring and encrypted statement of transactions at any time.
- Automated “delivery versus payment” of crowdsale.
The last couple of points are directly following the recent Bank of France’s request for proposal concerning stablecoins.
The Nyx standard is already available in open-source (MIT license), to allow all developers to have access to it and to enhance it if they wish by integrating additional features, thus maximizing the interoperability that is expected from a financial infrastructure.