Meet the tech entrepreneur leveraging blockchain to make the world more equitable – News

A serial entrepreneur who has dabbled in multiple fields, Yacine’s desire to make the world more equitable has landed him in the blockchain space

Blockchain technology promises to change the world. With potential applications in almost every industry, the space has become a center for innovation.

It continuously attracts bright and ambitious entrepreneurs driven by the desire to positively impact the world around them. So, it’s not uncommon to bump into a visionary out to design and develop applications that will shape the future.

One of these is Yacine Farouk, co-founder and CMO of Mimo Capital. A serial entrepreneur who has dabbled in multiple fields, from fashion and design to tech, marketing, and engineering, Yacine’s desire to make the world more equitable has landed him in the blockchain space.

The journey thus far

Yacine has had a colourful entrepreneurial journey. He is passionate about design, which led him to the fashion industry, where he consulted for Nike and ran a design studio. He also founded a fashion label in Paris that went on to become a multimillion-dollar brand.

And like most entrepreneurs, he has spent his fair share of time in the job scene. He has worked for various startups and large companies in Paris, Miami, Tokyo, and Dubai.

But perhaps most important is his experience building blockchain-based solutions. Yacine has spent a decade in the blockchain space, which has provided a platform for him to pursue his goal of giving financial access and education to the less fortunate.

“In the past ten years, we’ve found blockchain technology to be the perfect medium to carry out that mission and the best financial equaliser tool that we currently have access to,” he says.

Yacine’s blockchain resume is impressive. He co-founded Kabotip, a crypto startup that went through the famous Japanese incubator OnLab. But this wasn’t his most successful past venture in crypto. That title would go to Telecoin, a crypto project focused on financial inclusion via blockchain-powered remittances.

Telcoin’s ICO raised $30 million, and the project went on to become one of the best-performing in the last cycle. Telecoin’s value grew by more than 10,000 per cent, which saw it break into the top 50 coins on CoinMarketCap.

Now, Yacine is at Mimo, a blockchain company that creates protocols providing tokenized real-world assets and allowing the minting of multiple price-stable currencies against collateral to its users.

Making an impact through Mimo

Anyone looking for yield can find plenty of it in decentralised finance (DeFi), but only if they can stomach the risk of losing their investment in the process. For Yacine, this doesn’t have to be the case.

“Today, we have the tools to bring safe yield to anyone with an internet connection. In other words, Onboarding users and institutions to DeFi via the integration of real-world assets (RWAs),” he says.

Onboarding low-risk RWAs like government and corporate bonds is an excellent way to bring safe yields to users. These assets aren’t nearly as volatile as crypto. So, building solutions that leverage them should make investing in DeFi less risky.

That is what Yacine is doing at Mimo.

Under his leadership and that of his co-founder, the blockchain company has created KUMA, a protocol that gives users access to low-risk RWAs like government bonds in a DeFi-compatible way.

All work and no play…

Outside of his mission to impact finance through blockchain technology, Yacine maintains an active life. He has a curated passion for contemporary art and street art that developed as a result of his time in Paris.

He also retains his interest in design and is passionate about mechanics. This unusual combination has seen him develop a taste for digital and mechanical engineering as well as automatic watches, particularly Omega & Grand Seiko. He is also fond of cars, Porsche being one of his favourite brands.

And being based in the UAE, Dubai has become the place to express those passions and meet with like-minded people.