On the second installment of CoinGeek Conversations Block Dojo series, Charles Miller speaks to two entrepreneurs who are looking to improve business efficiency with blockchain technology.
Sports Finex is a platform that enables quicker and cost-effective business deals between financial institutions and football clubs. According to its Founder and CEO, Nico Malgeri, the platform aims to streamline the tedious part of the dealmaking process. “We simplify the whole process of finding opportunities in the football market for financial institutions that want to invest in football,” he says.
As Nico points out, Sports Finex solves a recurring problem in football clubs. “When football clubs sell a player, they don’t get the money all in one chunk, usually in installments, this process involves many intermediaries and takes a lot of time,” he says. With Sport Finex’s invoice financing solution, both parties will be able to close deals faster and players will be able to receive payments seamlessly.
In addition, the platform will make use of an AI machine learning system to match financial firms to football clubs while also leveraging blockchain technology to validate stakeholders and store data. As Nico explains, blockchain will provide that extra layer of security to avoid leaking deals to the public.
Sports Finex will charge both stakeholders a subscription fee and take a small percentage in commission from both parties.
Similarly, BizCrunch facilitates deals but this time, between investors and the businesses they want to acquire. According to its Founder and Head of Growth, Alfie Lambert, the subscription-based platform offers investors information and an analysis of companies that are not listed for sale, but perhaps interested in selling.
As Alfie explains, the platform will use algorithms to find data that companies don’t usually highlight in their portfolio’s.
As for the use of blockchain technology, Alfie says “One problem is trust from either end, that’s where we want to harness the immutability power of blockchain.”
Currently in beta, BizCrunch plans to launch its platform in September.