To enact positive change, Toronto-based firm Fabriik has made it their motto to reimagine prosperity and share it with everyone—not just the privileged few, but people from all over the world who dreams of living a comfortable life—by opening “access to a marketplace where anyone can transform, hold, trade and grow any asset they own.” Roy Bernhard, Fabriik CEO and Chief Visionary, discusses this vision of changing the world during an episode of Coinscrum’s “Meet The Founders” series, which features industry leaders and experts to provide digital currency market insights and cryptocurrency trading know-how.
“We said that with Fabriik, we can take this technology and the work that we have done and create a larger ecosystem, and that larger ecosystem will allow us to really deliver and change a lot of people’s lives. We came up with the term ‘reimagine prosperity,’ we use that as a tenet for turning around and saying, ‘How do we create a financial services ecosystem that allows, not just somebody who has a high net worth, or ultra-high net worth, or an institution, but somebody who’s sitting in a village in Africa or somewhere in North America or the UK, and EU who makes maybe only a few dollars or a few hundred dollars a week or a month. How do we take one of those people and help them,’” Bernhard said.
Bernhard comes from the fields of engineering, computer science and law, which makes him well-suited to work on digital currencies and blockchain technology. Ensuring that everything is legal is the first step in creating the Fabriik ecosystem and the second step is providing a smart wallet with a user-friendly interface and handy features that many are already familiar with. And this is precisely why Fabriik acquired Money Button last year. Money Button is a leading wallet provider in the Bitcoin SV (BSV) ecosystem, and it takes pride in being “the simplest payment system ever created.”
“The Fabriik Smart Wallet premise is based on simplicity and accessibility. We feel that the next battleground for the digital asset space and the blockchain space will be about accessibility. Giving people the ability to use all that function and power but feel safe, protected, and be able to do it in a super simple and easy way, so the smart wallet is the manifestation of that,” Bernhard explained.
On top of providing an online marketplace and smart wallet, Fabriik is combining physical and digital assets in one ecosystem by tokenizing them in order to break down physical barriers in trading—just like how the Internet has shortened distances when it comes to communication.
“I really think that, and I mentioned it before, it really comes down to this notion of tokenized real-world assets and tokenized securities. The ability for the industry to move to a place where almost every asset on the planet is associated or linked to digital circuitry, or a digital token or component. Because as soon as you do that, the fungibility, the transferability, the movement of all of those assets becomes completely seamless and you can do some pretty amazing things,” Bernhard said.
And in order to accomplish these amazing things, Fabriik is currently building its tokenization platform on the BSV blockchain, which has been proven to be stable, scalable, immutable, secure and cost-efficient. The BSV test network recently broke records with 16.4 million transactions in a single block. With this kind of scalability, Fabriik is assured that the BSV blockchain can handle the big data it is requiring in creating digital tokens of real-world assets.
Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.