Our idea is to build a way of payment that keeps the purchasing power in the hands of consumers; there’s too much suffering because of inflation. People are living longer, which means their money has to last longer and inflation is a big problem. When the value of a currency, say a dollar, a euro, a yuan, is based on commodities or controlled by banks and governments, the people have no control over the value of their money.
Asa part of my series about “Big Ideas That Might Change The World In The Next Few Years” I had the pleasure of interviewing Jude Regev, Founder and CEO of Jointer.io and Element Zero Network. Jude Regev, whose talent for developing useful digital ideas and big data solutions that have resulted in successfully growing five companies and three successful exits, is Founder and Chief Executive Officer of Jointer.io and Element Zero Network. Jointer.io it’s a platform that issues debt tokens to borrow money from the public to help property owners instantly unlock their equity at zero costs. Investors that lend Jointer money receive up to 20% ROI/year based on index performance with zero specific property exposure. Element Zero is a not-for-profit next generation payment network based on an algorithmic stable coin creation platform. Element Zero is designed with the hope of making the world better for all, by providing a new form of payment that is protected against long-term inflation and eliminates the possibility for any volatility in the first place. After developing a big data marketing algorithm in the online advertising industry that was sold at 2012 in his native country, Israel, Jude relocated to Silicon Valley and taught himself to speak fluent English. Besides a passion for startups, Jude’s hobby is commercial real estate where once again, teaching himself and learning from other professionals, he has become an accomplished authority in the industry.
Early in the development of Jointer’s proprietary stablecoin, in partnership with Nobel Prize winners and world-class experts, Regev realized how many industry problems the new model for the stablecoin could solve and how wrong it would be to limit this solution exclusively to Jointer. What started as a specific stablecoin for Jointer soon expanded into a global solution. Against this backdrop, Element Zero was established as an independent, not-for-profit organization and an autonomous entity that will belong to the public.
Thank you so much for joining us! Can you tell us a story about what brought you to this specific career path?
After five startups and three successful exits, I relocated to the US in 2012, came to Silicon Valley to create a new startup. My hobby is commercial real estate, so I decided to create a passive income stream by investing in this market so I can focus my time on building my next startup. When I looked at how to do that, how to identify the most lucrative deals, I realized there was no easy way to do this because the commercial is all about relationships off-market. This revealed a new problem; to invest in good properties, you need to underwrite many properties to understand what would be a lucrative opportunity which required an enormous amount of time and attention. To make this less labor intensive, I developed an algorithm to reduce my work and instantly identify the most lucrative commercial real estate opportunities, and that’s how I unintentionally started Jointer.io.
Other people said they had the same problem, and that they could use this algorithm we developed. Then in 2018, we added a tokenization solution that allows investors to buy a fraction of equity instead of the all property, but after in-depth research and determined that the commercial market needed a stablecoin as a way of payment, but we realized that none of the existing stablecoins were truly decentralized or 100 percent stable. That’s when we created a new stablecoin that offered decentralized cryptocurrency payments. When we realized how well the new stablecoin model could solve some lingering problems, we decided to make it available to as many people as possible, and not just as a solution for Jointer. That’s how Element Zero Network and stablecoin creation platform were created.
Can you share the most interesting story that happened to you since you began your career?
When Dee Hock, the founder of Visa, joined as an advisor to our company, he told me the story of how he created Visa as a decentralized organization in the first place; it belonged to no one. He built it to do good for all, but the banks found a way to beat the decentralized model.
He was a genius before his time with Visa. Because of him, we built Element Zero to be an open source turn-key platform completely decentralized that belongs to no one. We built it based on his advice and our shared vision establishing Element Zero and with great potential to fulfill his vision of a truly decentralized payment network.
That meeting transformed the way that the Element Zero is structured and we made this stablecoin accessible to everyone.
Can you tell us about your “Big Idea That Might Change The World”?
Our idea is to build a way of payment that keeps the purchasing power in the hands of consumers; there’s too much suffering because of inflation. People are living longer, which means their money has to last longer and inflation is a big problem. When the value of a currency, say a dollar, a euro, a yuan, is based on commodities or controlled by banks and governments, the people have no control over the value of their money. That’s why we created the Element Zero Network stablecoins.
How do you think this will change the world?
Element Zero’s stablecoin solution is based on an algorithm designed to provide users with a stable, decentralized cryptocurrency. As a not-for-profit, Element Zero puts ownership of the organization in the hands of its users, eliminating the need for banks and the pressure to distribute profits, which as we have seen all too many times, benefits a select few. The Element Zero stablecoin platform offers great financial security in times where we live longer, and our worlds are more uncertain because of the political landscape. Element Zero is not governed by a single entity — it belongs to the people, and we hope it is a transformative movement that helps people on multiple levels.
Keeping “Black Mirror” and the “Law of Unintended Consequences” in mind, can you see any potential drawbacks about this idea that people should think more deeply about?
Both of these shows the potential dark side of what can happen when people create or use technology for the wrong reasons. These are compelling stories — they make for good viewing, but beyond the shock value of these episodes, there is a more profound message about what is happening to our society as technology advances. And this is not new. It has happened before. During the Industrial Revolution, advanced automation society and many people saw their skills become obsolete. Think about the printing press and all the scribes that went out of business. It’s the same as what is happening today — technology and disruption of the traditional business models are creating new economies, and people are losing jobs. Think of Sears or General Electric, great American companies that are no longer relevant, being replaced by the Googles and Amazons of the world.
People may lose jobs, and traditional industries will disappear. So like Uber: taxi drivers go away. Instead, you have crowd-sourced rideshare. So the Taxi industry goes away. Now the population is increasing. We will have a job gap because the current sectors are not growing fast enough for the population. New industries are needed.
Element Zero delivers a more direct customer relationship, for the first time ever companies can communicate with their stablecoin community. For instance, many brands do not know precisely who holds their product, they are unable to communicate with the person that owns their product in many many cases. Using the Element Zero network, the brand (say like, Coca-Cola) can now communicate with every single holder of their branded stablecoin on the Element Zero Network; this is something that is just not possible using today’s systems. So we hope that Element Zero will transform the payment industry to be more relevant. This enables people to compete that couldn’t before. It’s the users that drive product innovation as they reveal more problems and by nature, build solutions.
As long as there is a need, innovation will always happen.
Was there a “tipping point” that led you to this idea? Can you tell us that story?
The tipping point really came very early in the development of our stablecoin. We were lucky enough to connect with some brilliant minds; Dee Hock, Professor Eric S. Maskin who is a Nobel Peace prize winner, David Wield from NASDAQ. Together we soon agreed how many industry problems (what started as Jointer’s) new stablecoin could solve and how wrong it would be to limit this solution exclusively to Jointer. What began as a specific stablecoin solution for Jointer soon expanded into a global solution. That was when we decided to establish Element Zero as a separate entity that will belong to the public and be a not-for-profit organization.
What do you need to lead this idea to widespread adoption?
We are spreading the word about Element Zero through our Ambassador Program that has so far 500+ candidates to engage people from all walks of life in creating awareness and support for the Element Zero Payment Network and Stablecoin Creation Platform. We have one of the most significant communities in the world on Telegram with 70K members and 40K on Twitter. We have pre-sign up program that will direct up to $100,000 to non-profit organizations. We believe that all that and more will drive adoption.
The second step we have taken is to invest our energy into a stablecoin platform that any business or organization can launch their own stablecoin for free providing their customers/users/members/fans to have a connected, community-driven experience all the way through to payments for a brands goods or services. So imagine if a consumer can have a Walmart Coin, a Starbucks Coin, an Amazon Coin, all built on the Element Zero Stablecoin platform. These co-branded coins will provide consumers with a stable cryptocurrency payment solution and the ability to enjoy the benefits of the affinity programs and perks that brands can customize. The technology behind the stablecoin opens up so many possibilities for brands to deepen their connection with their users; special offers, direct communication to every stablecoin holder, product-or activity-based incentives, cross-brand promotions, I feel like we have only just started to unleash the possibilities using the system. To that end, we’ve also launched a program that will allow businesses, governments, and non-profit organizations to secure their stablecoin symbol so that their brand can participate equally and through the collaboration between many businesses under one network we will continue to drive innovation and a positive end-user experience. There’s that saying of ‘it takes a village,’ well we are building a village!
The future of work is a common theme. What can one do to “future proof” their career?
- LOVE what you do I believe that people should work as much as they like, only on stuff that they love, and do that from the place that they want to be at. That’s how you can future proof your career. Titles don’t matter — job descriptions shouldn’t matter if you are not IN LOVE WITH YOUR JOB! For example, I don’t think someone has to do all the HR work if they don’t like to do all the parts of that role. Some people are good with being outgoing and recruiting, others are good with team relations, and some are good with taking care of salaries and accounting. You don’t have to take on a role like HR and end-to-end execute it. There isn’t anything anymore such as a job or a career. The only thing that exists is what parts I love to do and am good at, that’s it.
- Decide how you want to work. You can work part-time, half time, there is no such thing as 8–5 anymore. People can build life and career, not just a career that comes before life. Businesses have to be flexible in hiring people to do the work, not fill the job.
- Forget about working in an office. I don’t believe in offices. People can work anywhere they want, even if they are at the beach. People like to choose their environment. I like to work from home wearing my pajamas. Why bring people to the office just to bring them to the office? The future is with virtual companies where we will develop tools and culture to support people’s needs.
- Work when you like to work. People need to have control over their time. Some people I work with like to work at 4 am in the morning, and that’s OK. You should have control over your time.
- Change the mold of what a job is. Don’t do things that you don’t enjoy. What creates joy? People are inspired less about money and more what they enjoy doing. When people do what they love, you generally do a good job at it.
Based on the future trends in your industry, if you had a million dollars, what would you invest in?
We participated in competition between 4,000 startups and 196 countries, and we won one million and invested it in the best project we could — Element Zero.
Which principles or philosophies have guided your life? Your career?
I used to be involved in politics working with the President of Israel and the Peace Nobel Prize winner Shimon Peres. I never built stuff for money. I built things because I needed it for myself, and I made it larger because others needed it too. Always my motivation has been to solves problem and leverage that to help others.
Since beginning this project, I have also had the chance to collaborate with some incredible minds; Dee Hock, David Weild, Daniel Ahn…it has been such an honor. And we have always connected over this same thing ‒ a drive to help others.
People have to do what’s good for their life, what’s good for them, and then see what they can then do to help others as well. When you build something because you have a fire in you, you are driven to develop a solution to the problem. And then you push yourself to help as many other people as you can.
Can you share with our readers what you think are the most important “success habits” or “success mindsets”?
A success mindset is thinking a different mindset. Since I have Asperger’s syndrome my mind automatically processes problem differently than others, for example; when I was young, I realized that the way I solved maze problems was, different. I looked at a maze and drove a line from the cheese to the mouse, not the mouse to the cheese, meaning I approached each problem from the opposite way things were normally done, not how they could be done differently. In a success mindset, the goal is to find innovative ways by going backward and using nonconventional solutions not just look or accept that you can only do things how they might typically be done. When everyone goes to the right, you should try to go to the left. Odds are the other outcome is more interesting to explore. If you follow the same old path, odds are you won’t find a revolutionary solution. If you encounter failure, don’t pivot or turn around because you just found the right path. Fix it, and it will lead you to success.
Some very well known VCs read this column. If you had 60 seconds to make a pitch to a VC, what would you say?
So you are looking for what is often called the elevator pitch. The problem with that kind of short explanation is that the entrepreneur needs to use terminology and recognized examples (like we’re Uber for… or we’re Airbnb for…) so that audience can understand a concept really quickly, but I don’t think a 60-second pitch can be used to explain a truly disruptive solution such as Element Zero. Something that is truly disruptive can’t be simplified to fit recognized examples. Just think, is it possible that ten years ago a VC would have heard a 60-second pitch about blockchain and seen that this is a technology that will disrupt almost any industry? It seems like everybody turns the industry into a contest for pitching. So my wish is that VCs industry will stop asking for short pitches as everyone seems to today and try to have success mindset by approaching things differently.
How can our readers follow you on social media?
Thank you so much for joining us. This was very inspirational.