Welcome to our comprehensive interview series – Humans of Blockchain ™ where we get the best in the business to answer a diverse set of questions.
This series will clear the air of doubt in the blockchain space today by focusing on bringing more transparency to the readers.
Our guest today is David Wachsman– CEO of Wachsman – “Guiding Leading Companies and Transforming Brand”, who is also an experienced personality in the Media Industry and has some insightful opinions about Brand-making and managing the Media Outlook for the company.
Humans of Blockchain ™ had the pleasure of meeting David at TOKEN 2049.
Not wasting much time, let’s hear it out from David himself.
1. Can you tell us more about yourself and your journey which brought you into the Blockchain space?
I am the CEO of Wachsman, I founded this company in 2015 but I have been working with Bitcoin since 2014. A little background, at the time I met the CEO of a Bitcoin Exchange and I was running day-to-day operations for a small public relations firm. We had a handful of billionaires as our clients and when I met this Bitcoin exchange CEO (super smart, around my age), he was working on something very interesting and I was captivated.
So I took him on as my client and learned a lot about Bitcoin, Mining, Trading – who the traders were and how were they trading, this brought me to a realization that this industry was very much in its infancy at that time. Then in 2015, at the behest of the Bitcoin exchange CEO, I formalized the idea of starting my own company. So in 2015 I brought on a Bitcoin ATM Network, a Blockchain focused VC, Software & Hardware wallets, and a Mining Pool, that was the end of 2015.
We have gone from 1 to about 100 people at Wachsman in 3 years having our offices in New York, Dublin, and Singapore. And today we represent a very widely known company promoting information and value.
2. Can you tell us more about Wachsman? The vision and mission of the company.
Wachsman is a professional services firm (that can mean a lot of things). We carry out very few services today, although we will be adding more soon, I believe we do them very well.
First and foremost, we are a public relations agency. Very traditional. Similar to the types of blue-chip agencies that represent major brands. That’s how I was trained and that is how most of my staff were trained too. So that means we help our clients ‘earn media,’ not advertising, no pay-per-play, we think that really great companies get more exposure in real media, and we think we tell stories pretty well and we know reporters care about them because these reporters still keep coming back for more.
We also do events management, we help major events, we also help our clients by building a strategy about where and when they should have an event to maximize their reach.
Finally, we have strategic consulting which is a lot like Management consulting, so that’s Wachsman and as I just mentioned, we have our office in New York, Dublin and Singapore and all our employees are full time in these offices.
My mission is to support the most interesting ideas of this world, help the companies and people behind those ideas, expand, grow and succeed in any way possible because we happen to have subject matter expertise and talent. So it’s our responsibility to help out the organizations trying in the industry as I just mentioned because we happen to have something that can be useful. In other words – Because we can, We must.
3. As you just mentioned that Wachsman provides only some core services at the moment but will expand. Can you tell us about the future plans for Wachsman?
Well, I’ll give away some, anything that we think the market needs and we are capable of deploying. So for instance, let’s take recruiting services. There are many companies out there that require great staff and the recruiting business is full of what I call ‘people charging way too much money to do something that’s very important but companies become dependent and have to pay 20-25% of the annual salaries of those sourced employees’. And we believe crushing such costs will be a great improvement for our clients and benefit them as opposed to a business that promotes short term cash grab for employment. So that is an idea I have, moreover why we think we can do this is that we know what our clients need, we care about them and we understand the ecosystem (we know when someone is bullshitting about whether or not they know about the industry).
4. What are your opinions on the current Education/ Information flow in the Blockchain industry?
It’s a great question.
Media is responsible for doing real-reporting and we have, unfortunately, seen instances of bad reporting in the past and information that is inaccurate, broadly disseminated. There are, however, some really good and trusted publications in the industry. For instance, one of our clients – these are a really experienced group of journalists with real editorial backgrounds, having worked with mainstream publications. They have decided to focus their energy on reporting about the Blockchain space and I think they have done a hell-of-a good job.
These really great journalists are endeavoring the space and now I can see podcasters as well, trying their best to promote correct and actual information. Through these entities, we are receiving the prime correctness which is required by the industry.
My hope is that these become more and more popularised so they become the dominant sources of news and as always their customers i.e. readers keep them in check and if they do find something inaccurate, go onto a different platform or go onto social media and call it out because we need media, to talk great about the industry, about improvements, and to actually report on what’s interesting.
5. We are in the first quarter of 2019, what do you see this year holding for the Blockchain Industry?
It’s going to be a year of great change like all the others.
What we have seen is mass consolidation in crypto-markets, we are now gonna see mass consolidation, I believe, at the protocol layer. I think that dapps and development will start to more or less accrue to dominant change with a lot more business-savvy and technical development. We are gonna see the beginning of the rise of Security Tokens (STOs), Stablecoins will continue to be an increasingly dominant factor, and I think that we are gonna see Data. Crypto Data becoming an increasingly successful market.
Overall it’s going to be an interestingly successful year.
6. Any Ending Remarks for the Industry, David?
The best times are ahead of us. We have seen such fundamental change that has basically resolved to there being less noise and more work. And I believe this will drive adoption of this technology because Blockchain is a means, not an end.
Check out More Humans working in the Industry Here!