In this interview, Startuprad.io talks to the first startup from New Zealand in a startup interview. We are very happy that they made it all the way to LendIT London, where we talked to them. We talk to Ben (https://www.linkedin.com/in/ben-jordan-16241a31/), who is Co-Founder and Product Director at SYLO (https://www.sylo.io/index.html).
The startup Sylo provides a tool kit for decentralized applications so developers can replace “mainstream applications.” These applications than should enable the user better control over their data.
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00:05 Announcer: Welcome to startuprad.io. Your podcast and YouTube blog covering the German startup scene with news, interviews and live events.
00:20 Joe: Hello and welcome everybody. This is Joe from startuprad.io, your startup podcasts and YouTube blog from Frankfurt. Today I’m not in Frankfurt, but I’m here in London at Landed and I do have guests. Hey Ben, welcome.
00:33 Ben: Thanks for having me. Good to be here.
00:36 Joe: Very great that he could make it. We are actually here at the upper level of the Landed event. You can see it and most likely here in the back, sorry for the noise level, but you cannot make it any better. It’s very lively here. You are doing a startup called?
00:53 Ben: Sylo.
00:55 Joe: And we talked about it before and Sylo does what?
00:59 Ben: So Sylo it’s a decentralized communication platform. So we are solving the problem of big data. We’re trying to provide a communication network that allows users to retain ownership of what it is that they say and what it is that they send. You can think of the application like a one-stop shop for a whole range of different applications that respect users’ privacy. So we bring together a Cryptocurrency wallet communication with friends and businesses and also a marketplace event.
01:28 Joe: And when we talked before you talked about like having the tap of Wechat waiting as the Chinese users will know it because you have a lot really large you can do with it. And you are aiming for like the same solution, the same amount of solutions for different purposes.
01:47 Ben: Yeah, exactly. Wechat, that’s a really good example. Wechat brings together payments. So it’s where you can basically operate your whole life from. Sylo has that equivalent. But with respect to Cryptocurrency and also money itself, communication. So friends and family. And then just like Wechat using our toolkit. We are working with a whole range of different companies who are providing different services to Sylo users.
02:13 Joe: And what will be a little bit more interesting to my audience, which is actually a little bit more B2B. Will be what they could do on your platform kit. Can we talk a little bit about that? What other startups like established players could do on your platform?
02:30 Ben: Absolutely. So we actually provide a toolkit. So when you’re building a decentralized application, you’re trying to build an application that respects your users’ privacy. And the way you do that is by plugging into a network that has no single controlling entity. And that’s actually quite difficult to build decentralized applications. And so we provide a really simple list that allows you to build in functionality like messaging, like calling, like storage like payments and exchange. And you can build these applications and then you can surface them or provide the functionality to Sylo users. Or you can just run your own application.
03:07 Joe: And we talked about before that actually you’re a little bit more the master of your own data. Meaning you can decide where you want to have it stored.
03:18 Ben: Exactly. I mean we think it’s all about user control. Technologies have come an amazing way. It has come a long way. But it’s been at the expense of our privacy and that’s because it’s been easier to build these centralized services. And the model or the way of making money is by big companies gathering as much information as they possibly can. We think the way to flip this on its head is by giving the user controls. So if you’re using a product that’s built with this toolkit, what you can do is you can decide or have control over exactly what it is that you’re sharing with these companies.
03:54 Joe: And we’ve been talking about the fact that blockchain we didn’t really use, it tends to get a little bit slower. How are you going to solve this problem?
04:03 Ben: Yeah, I think that’s, I mean that’s a big problem that has to solve for anything to become mainstream. We’re working really closely with a company called Centrality and building out on their blockchain sends knit. And what that’s allowing us to do is to focus on our piece of functionality in a way that allows our Blockchains to interact with other Blockchains. Blockchains shouldn’t become these bloated kinds of chains that cater to every single use case. They need to be scalable such that you can update certain aspects or different pieces of functionality without impacting the whole network.
04:36 Joe: And basically what we tell our listeners who are not familiar with the blockchain with every transaction, all of the blockchains gets larger. That’s why you’ve been referring to this bloated blockchain.
04:48 Ben: Yeah, exactly. We have to solve that problem for millions and millions of users to start using applications that are decentralized. And that’s just something that’s not happening at the moment. There are applications where you can exchange currency or maybe hold some tokens in your wallet. But there aren’t these applications that could conceivably replace these mainstream applications that are out there yet.
05:12 Joe: And how could people out there who are now thinking of looking into your tool. How can they learn more? Because down here in the show notes, the people will find the link to your LinkedIn profile as well as to your company website. Any other ways to do that?
05:30 Ben: I think that’s a fantastic place to start. Our website is sylo.io. And you can have a dig around there and find out what it is that we are doing. You might also want to download our APP. So we’ve got an APP available in the APP stores. And if you keep an eye on us within the next month or two, what we’ll be doing is releasing our fully decentralized blockchain enabled product. So I won’t just be us talking about it. You’ll actually be able to use it.
05:55 Joe: Well, great. Thank you very much.
05:57 Ben: Thank you. Thank you.
06:06 Announcer: That`s all folks. Find more news, streams, events, and interviews at www.startuprad.io. And remember sharing is caring.