Five years after its creation, Lyon-based start-up iExec is scaling up in an ecosystem that is increasingly receptive to blockchain technologies and the impact of Web3 on their businesses. Meet Francis Otshudi, Director of Enterprise Solutions for iExec, the leading Web3 marketplace for IT resources.
What are the challenges facing organizations in the Web3 era?
The main issue is theuse of data. They represent a gold mine for companies. Yet it is estimated that 80% of the data generated by organizations goes unused. The European Union is also concerned about digital sovereignty.
In a Web3* approach, it is the blockchain* that acts as a trusted third party for the ownership and proper use of data. The decentralization it underpins also brings transparency and security.
Given this situation, we encounter two types of customer. A minority have some initial experience of blockchain and are looking to solve a specific problem with their existing processes. The issues that come up most often concern an increased need for transparency, thanks to immutable traceability of actions, or the need to reinforce trust when sharing data with their customers, partners and suppliers. But the majority are at the beginning of the adventure, and are keen to explore the opportunities offered by Web3 for their business.
How do you support them in their implementation?
First, we need to understand how data is used within the company. iExec’s methodology is based on aWeb3 acculturation phase, followed by design thinking workshops to understand the specific challenges facing each company.
At the end of these two days of ideation, we draw up a roadmap for implementing the new services or optimizations imagined. Customers need to be able to project themselves quickly onto a use case that is relevant to their business.
By emphasizing the technology’s added value, iExec promotes its adoption. We deploy a trusted environment for each customer, based on our own infrastructure. Our teams also focus on performance, eco-responsibility and cost control. Finally, iExec is a Lyon-based player on a human scale. These are all important reassurance factors for our customers, as is the approval of the Autorité des Marchés Financiers (AMF).
What recent use cases have particularly appealed to you?
Mobility and the transport industry have undeniable potential. As an example, one of our partners wants to use blockchain to reward employees who use soft mobility to get to work. A token* is generated to reward users. It can then be used to access benefits from a network of partners, such as a works council.
Blockchain guarantees trust in the system – a database administrator cannot, for example, unilaterally allocate tokens to himself – and the confidentiality of shared information. Blockchain also establishes a system of governance in which anyone can decide to participate at any time.
What are the next challenges for iExec?
After a successful ICO* in April 2017, iExec’s teams initially focused on technology research and development. For the past two years, we have been stepping up our marketing efforts aimed at the ecosystem and businesses. We are well aware of the transformation challenges facing organizations. We therefore invest in change management and work in partnership with specialized firms. Putting people first.
Glossary
Blockchain
Blockchain is a transparent, highly secure database that operates without a central control body. All data entered cannot be modified or falsified. All exchanges between users can be publicly consulted. All these features make it possible to exchange valuable files online without intermediaries.
Web3
After the Internet of the early 1990s (Web 1.0), then the Internet of social networks, RSS feeds and sharing (Web 2.0), Web3 refers to a new era of the Internet, more independent of GAFAM, decentralized and based on blockchain technology.
Token
A token is an asset on the blockchain. Crypto-currencies and NFTs are often referred to by this term.
Crypto-currency
A crypto-currency (also known as a crypto asset) is a digital currency issued peer-to-peer, decentralized from the traditional financial system and based on the blockchain.
ICO
An ICO (for “Initial Coin Offering”) is a crypto-currency fundraising event.
Interview originally published on OUR(S) – the Auvergne-Rhône-Alpes communications media, as part of a partnership with the communications and public affairs firm CALIF .
Sana Chennoufi
