Community post

Why I left banking for the crypto train

Disclaimer: This is not investment advice but merely my own reflection on cryptocurrencies and the companies that are involved.

Sweet corporate life

I loved my job. When you leave consulting your main fear is that your next venture might soon become boring and you find yourself trapped in it for much longer than 3 months. Fortunately, nothing of that sort happened. On the contrary, having found BBVA was a free kick that quickly turned into a goal.

How not to like working at Mexico’s biggest bank? It involves a new 50 floor skyscraper built on Mexico’s equivalent of an intersection where Champs-Élysées would meet Central Park, interesting projects in the Investment Banking division and a team of highly motivated and talented colleagues. Sweet corporate life.

Emblematic Avenida Reforma in Mexico City.

Crypto-fan

Cryptocurrencies were a weekend speculation game. I started programming some neural net bots and got acquainted with fellow crypto traders, one of whom later became my best friend. Six months on the bank and a friend called to see if I am interested in joining AirTM.

What is this company about? I asked.

My friend starts explaining on the phone, my workmate asks for last week’s analysis and I only pretend I understand while I look for a file in my computer.

Me: Yes, AirTM is interesting. Got to go, see you soon.

Distributed technology is disrupting the finance industry. Are Nakamoto, Buterin, Fugger and Larimer the four horsemen of the apocalypse for banks? Who will be this Facebook-JP Morgan-esque company in 10 years? Will SWIFT and PayPal die? Some blockchain projects will prosper, most will fail. What is the key to success?

These questions increasingly haunted me while I was at the bank. I tried to discuss these thoughts, no luck.

Boss: Yes, Bitcoin is interesting. Focus on the projections, the presentation is on Monday.

I thought to myself, maybe if I bring up blockchain during lunch time?

Colleagues: Interesting. How was the Korea trip?

We finish lunch and head back to work.

My friend calls*

Friend: Have you considered AirTM?

Me: Yes, AirTM is interesting. Did you see the Ethereum hard fork? Wait, sorry, tell me about AirTM.

Distribution network

Something became clear to me during consulting: distribution channels are important to success and they become essential in new technologies. Consumers don’t know how to use new tools and current providers have financial incentives to keep business running as usual. So, if you develop a new technology it is very likely you will need to go out and sell it.

Diving more into AirTM a phrase catched my eye: last mile solution. That’s it! AirTM connects people, allowing them to tokenize assets, trust their counterparts and carry out a transaction. It has a distribution network: thousands of users that, for a commission, transform other people’s assets into a stable token! The company is growing fast, what’s the market for a stable token? Well, just about everyone, I think. AirTM’s token just happens not to be on the blockchain at the moment. But what if…

Without thinking more about it, I go to dinner with my friend and accept the offer of joining AirTM without having discussed compensation.

Current state

AirTM is raising capital in a pre-ICO round where, in addition to stock, 50% of the investment will be credited in tokens during the AIR ICO. This is being done through BnkToTheFuture, an investment platform that specializes in fintech. The goal of this round is 1.5 million and at the moment of this writing 1.3 million have already been pledged.

I am currently working with some of the most extraordinary people I've met on the blockchain strategy for AirTM. Stay tunned.

Raúl,
AirTM CFO