EKMH Innovators Interview Series
An interview series spotlighting global tech influencers, disruptors, visionaries, and of course, innovators.
The Founder and President of Tezos Boston, widely regarded as a leading decentralized community and first Tezos Commons Chapter, BlockRelations and CryptoLiveLeak Founder/ CEO Kenneth Garofalo is on a mission to lead and advocate on the behalf of the crypto/ blockchain ecosystem.
After starting his career in Financial Services with State Street Bank, Garofalo continued in leadership rolls in Client Operations, ETF Settlements and Collateral. Garofalo founded CryptoLiveLeak in 2017, a cryptocurrency News and Media platform designed to provide realtime cryptocurrency market information and also created the cryptocurrency ERC-20 token - CLL (CryptoLiveLeak Token) to be utilized as a Utility Token for the platform. Through Attention Mining, Garofalo and his team have integrated the CLL token with the platform to innovate ways the audience and social media interact.
When I spoke to Garofalo and BlockRelations Co-Founder Steve Vilkas via Zoom last week, their undeniable enthusiasm for the global blockchain/ crypto ecosystem and kind reflections of their community were a welcome change. Garofalo and BlockRelations Co-Founder Steve Vilkas recently cofounded BlockRelations to support the “fierce and fiery” autonomy and self-determination found in the Blockchain community. In a recent Medium article both Garofalo and Vilkas inspire the community: “The agency of the Blockchain Community, like a mountain fortress, is not easily impressed or overtaken. Not by a virus, no matter how disruptive. Innovation will continue, the engines keep turning even if the convoy has to keep a wider berth.”
Both co-founders have skin in the game and want new players to thrive as well, and aim to help them streamline their stories, fortify their vision and contribute to the betterment of the world. Their mission: to de-silo, de-mystify and define Blockchain-related individuals, entities and opportunities.
I followed up our call with a questions for Garofalo regarding the blockchain and cryptocurrency communities, the Tezonian life, his new BlockRelations venture, Meetups, effective video-interviewing, and the importance of collaboration, transparency, education, compliance, transparency and more... you’ll just have to read below to see what else we discussed! Our interview follows.
EKMH: The blockchain and cryptocurrency communities are known for being creative and dynamic as well as independent and entrepreneurial. How does this positive mindset and a “we can do it” attitude enable the blockchain/crypto ecosystems to connect, problem- solve, innovate and move forward during this and potentially other crises?
Kenneth Garofalo: Blockchain and cryptocurrency communities are known to be full of creative, dynamic, and independent entrepreneurs that are not afraid to approach any problem thrown their way. When they solve problems and build solutions they are almost always doing so in a way that hasn’t been thought of before. This is a mindset that allows them to be on the forefront of new technology and enables them to feel comfortable working in environments that others would shy away from. This proves to be extremely useful during time of crises like the one we are living through now. Many great ideas are emerging out of these communities where collaboration, gratitude, and selflessness are necessary to develop solutions that serve the greater good of humanity.
EKMH: You recently co-founded BlockRelations with fellow dot connecter Steve Vilkas. Please share more about your core values regarding education and some of the myths/misinformation about the sector. How can BlockRelations foster a deeper concept of shared identity, principles and potential opportunities among and within blockchain/crypto communities?
Kenneth Garofalo: We have recently launched a new PR and Marketing agency called BlockRelations which aims to make blockchain technology and quality entrepreneurs more accessible to the mainstream. We protect, enhance, and build brand reputation through media, communications, and education. Education is a core value of ours as we see this as being one of the major barriers to entry for new participants who may or may not be looking to enter the blockchain space. The past experience I’ve gained from founding CryptoLiveLeak, Inc. and Tezos Boston as president have allowed me to gain a unique expertise of understanding for the blockchain ecosystem. We look to leverage both my domain expertise and my co-founder Steve Vilkas’ vast expertise as a communicator working deeply within the startup industry to streamline the process of our clients achieving their goals. This process provides us the opportunity to work directly with leadership teams to ensure successful principles are aligned leading to more opportunities for the greater community.
EKMH: What sets BlockRelations apart from its peers? What do potential clients gain from your expertise, network and vision? In what specific ways do you help clients to achieve concrete business success?
Kenneth Garofalo: Our authenticity and grassroots efforts are unique differentiators that we bring to the table for our clients. My education is in Finance and I have vast work experience in investment banking paired with over 3 years direct experience in the blockchain industry. We have built organic communities in the past and have proof of work in our previous ventures that demonstrate the ability to simplify a complex message which translated to direct success of one of the largest blockchain projects in existence. Clients gain the advantage of working alongside someone who has spent years building personal reputational capital. Both Steve and I are directly on the battlefield with our clients, we are people that are well versed at truly being the man in the arena. I also bring a diverse contact list that can be tapped by potential clients from my years working media for CryptoLiveLeak, I have conducted countless press work for top 50 blockchain projects and ecosystem contributors. We offer services such as general consulting, leadership training, matchmaking and business development, as well as access to our syndicate network of partners. We are willing to take the extra time that is required to fully understand the needs of the clients and strategically plan our attack for accomplishing our goals together.
EKMH: Better curated Meetups are thankfully on the rise to (re)connect the blockchain/crypto ecosystem during the pandemic. What essential tips (and absolute no-nos!) do you have for those entrepreneurs conducting and presenting during virtual meetings for the first time?
Kenneth Garofalo: Virtual meetups are thankfully giving us a way to stay connected during the times of self-isolation and social distancing. My number one tip for entrepreneurs conducting and presenting during a virtual meetup for the first time would be to practice. Give it multiple dry runs so that you become familiar with the process and the software’s nuances. Dress nicely (with pants*) and arrange a backdrop scene knowing that numerous people will be viewing it – this can be your way of really capturing the audience’s engagement. Also have a backup plan, a lot of people are only relying on video conferencing, but don’t forget that large group chat rooms like telegram can be used to conduct events like AMAs and can be a useful redirect in a worst case scenario.
EKMH: You mentioned the importance of creativity, in general and in the Tezos Foundation, specifically the Foundation’s knack for effective facilitation and revenue generation. What is the Tezonian way of life and how does this philosophy resonate in events like the Tezos Boston Pitch Competition at Babson?
Kenneth Garofalo: The Tezos Foundation is a strong organization that leads by example providing opportunity to quality organizations and individuals while focusing on education, ecosystem growth, and industry adoption. The Tezonian way of life is one of collaboration, willingness, and innovation. Many who exist within the Tezos global community embody these characteristics making it easier for us to achieve the greater goal of success for the Tezos blockchain. It’s amazing how so many diverse people can unify over a common goal. We chose to ampifly this message of social opportunity, education, and inclusion during the Tezos Boston Pitch Competition held at Babson College as a way of bringing in talented business entrepreneurs that would have otherwise known nothing about blockchain or Tezos. This is the shinning example of how I conduct business for the clients we work with. Always remaining fair, relatable, and welcoming to maximize the potential of our efforts and truly walking our talk.
EKMH: How does your experience within the Tezos Foundation and Tezos Commons continue to shape your decisions as a BlockRelations founder as you connect and collaborate with other founders?
Kenneth Garofalo: Working for Tezos Commons as the Boston Chapter President has provided me with valuable experience growing local blockchain communities as well as conducting large scale marketing campaigns. I was fortunate enough to not only plan, host, and organize some really high quality meetups during my time with Tezos Boston but I was also able to get on the other side of the microphone and give executive interviews that were featured on CNBC Crypto Trader and Yahoo Finance. This allowed me to build a reputational capital that cannot be bought, something that I can leverage in any professional relationship that adds immense value and legitimacy. I have taken everything I learned at Tezos Boston and continue to build on those core principles with BlockRelations; this expertise will undoubtably lead to greater success for our clients and more crossover between traditional industries and the blockchain industry.
EMKH: Compliance, decentralization and transparency: why are these more than just buzzwords in blockchain and crypto?
Kenneth Garofalo: Decentralization and transparency are not only the ethos of blockchain but are also becoming measuring sticks for compliance. Anytime a new technology arrives the new regulations are not far behind, but when you innovate something like currency, a new set of concerns arise. It is important that we not see compliance as something that suffocates innovation but something that rather protects all interests of those involved. Entrepreneurs and peers have adopted the collaborative mindset and have started working with regulators to best shape the rules forming around the industry. We realize that true mass adoption cannot be achieved without proper regulations. Just last moth I was at a meetup where we crafted a response to Hester M. Peirce of the SEC on a new “Safe Harbor” proposal for cryptocurrency projects, it was an amazing experience being part of the formation process of future regulations in the industry.
EKMH: We’ve seen the banking sector slowly adopt blockchain. In which other traditional businesses do you see opportunities for major blockchain/crypto disruption and innovation and why?
Kenneth Garofalo: Although I believe every business will be able to improve efficiencies with blockchain technology the area what I want to highlight has to do with my previous work experience with custodian banks. The settlement and collateral process for ETFs can be radically revolutionized and modernized with tokenization and blockchain based settlement solutions. As it currently stands the process of most trade settlements takes T+2 (trade date plus 2 Business days) where collateral sometimes in the amounts of billions of dollars must be exchanged in order for counter parties to release deliverables. Not only is this a huge waste of capital, it is also a very expensive process to manage. This is a problem that could be fixed from a blockchain-based solution, for example, security tokens. If shares of equities for instance could be tokenized you have instant settlement and eliminate the need for collateral. Sounds much more like the 21st century right? It is a major goal of mine to continue helping companies adopt these types of solutions.
EKMH: And finally, which books do you find to be essential reading and what are you reading now?
Kenneth Garofalo: The Internet of Money, Crypto Assets, and The Book of Satoshi are some essential books to read if you are just learning about blockchain and cryptocurrency – some of my favorites. More recently I picked up The Quick and Easy Way to Effective Speaking and How to Win Friends and Influence People that I hope to finish by the end of lockdowns.
Bonus! Interested readers may also want to check out the interview with Garofalo at this year’s AIBC Summit…