Alastair Band
Global Community Growth, Events and Business Development At Sweetbridge

Show Notes

According to Don Tapscott, Co-founder and Executive Chairman at Blockchain Research Institute, Sweetbridge is "truly a pioneer of this next era of the digital revolution".

As he goes on to say, they certainly have a bold vision to improve the way we do business, and make global commerce more accessible for everyone. So via a recent TeamBlockchainMasterclass event at CMS, I took the opportunity to explore that vision with Alastair Band of Sweetbridge, who're looking to create a decentralised OS for global commerce.

We talk about Sweetbridge launching a two-token economic system where their Sweetcoin and Bridgecoin serve separate, but entirely complementary, purposes.

Alistair says, growing your community is not about paying for Telegram users; it’s about connecting people, getting them together, getting them talking. And blockchain gives the opportunity to distribute not only information, but also wealth, and thereby make the world a fairer place, targeting different demographics and to giving everyone an equal opportunity to profit.

The Sweetbridge ICO offers both the Sweetcoin, a membership token used within their application, and the stable Bridgecoin backed by real-world assets.

In short, Sweetbridge will offer usage tokens that you can later offset against loan interest.

And Bridgecoin loans can be set against your assets. If you want to put an extension on your house, you don’t have to go to the bank and re-mortgage. You can put your house in the smart contract allowing you to create liquidity in the value of your property, and borrow funds against that. Your loan is issued in Bridgecoin, which you can then change to fiat currency to pay the builder. And if you have enough Sweetcoin lodged, you can stake that against the loan, and reduce your interest potentially down to 0%.

It’s cutting out an awful lot of those dreaded middle men…

And finally there will also be a Sweetbridge accounting protocol, basically an app where everything, all your assets, your house value, your stocks, your shares, your crypto assets, plus an API which plugs into your banking and shows your banking assets, all your savings accounts, how much is left on your mortgage, in one real place. It’s not just a wallet for Sweetbridge, it’s a wallet for everything.

So far, Sweetbridge have raised £12 million of their £65 million total goal. Think that sounds a lot? As Alistair says, they are trying to disrupt a $54 trillion industry, after all.

Sweetbridge believes it can affect every single product in our lives, making things cheaper to produce, easier to access. There’s a real-world impact to this, from making it easier and cheaper to raise finance to facilitating rice production in South East Asia.

And if there’s one final thought to take away from this interview, it’s the inevitable and incontestable: there is a better way.

Key take-aways

  • Sweetbridge is lobbying in the States, and feels the SEC is a bit out of step with the way this ecosystem is developing in some countries.
  • Not all tokens are securities, and they‘re not all the same.
  • Lithuania has the 28th largest population in Europe and yet processed the 5th largest total in ICO funding globally last year.
  • The Sweetbridge platform serves a utility; if you have one Sweetcoin over a 5-year period of zero network growth, that will give you a discount of $4.50 on interest that gets loaned. The intrinsic value grows. So while you might need 40 coins now for a transaction, in 5 years’ time you might only need 2 or 3.
  • It’s different from a cryptocurrency where people have x-amount of mythical “dollars” in their “bank account”, since the amount of Bridgecoin is directly related to the amount of real-world assets that have been tokenised within the ecosystem. So the more assets there are, the more liquidity there is in the system.
  • And independent but connected financial entities in every jurisdiction around the world - a true distributed autonomous organisation - currency transactions will automatically be exchanged via blockchain, between currencies in real-time.
  • The system will get controlled by completely independent but connected financial entities in every jurisdiction around the world - a true distributed autonomous organisation - currency transactions will automatically be exchanged via blockchain, between currencies in real-time.
  • If you’re a rice grower in SE Asia but your machinery breaks down, you know the value of that rice, and can tokenise and borrow against it, and start investing on your next crop even possibly interest-free.
  • Sweetbridge is about to start alpha-testing, register to get in the queue.
  • Next year will be the start of the crypto assets, beyond that it gets to the juicy stuff, the real-world assets, getting your house on the blockchain.
  • There will also be a Sweetbridge Alliance, like-minded companies that will all accept Bridgecoin as a method of payment, and this will allow them to see people’s spending information and build the world’s biggest retail discount economy.

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