Hi everyone,
My name is Ben Sheppard, Founder at Silta Finance, and I'm excited to share with you a business development proposal: the "Polkadot-Financial Institution Partnership Initiative."
With a background in structured finance and a good understanding of the blockchain landscape, I've crafted a proposal aimed at financial institutions in the Polkadot ecosystem. This initiative is designed to leverage my extensive network and experience in the finance sector to bring new opportunities and growth to the Polkadot ecosystem.
The proposal outlines a comprehensive 6-month plan, focusing on developing Memorandums of Understanding and Proof of Concepts with financial institutions. This will not only enhance Polkadot's visibility in the financial world but also demonstrate the practical applications and benefits of our innovative blockchain technology in solving real-world financial challenges.
I believe that with the support and collaboration of the Polkadot community, we can make significant strides in bridging the gap between blockchain technology and the traditional financial sector. I'm looking forward to discussing this proposal in more detail and exploring how we can work together to achieve these ambitious goals.
Thank you for considering this initiative. I am eager to hear your thoughts and feedback.
Please see the proposal further below:
Objective:
The primary objective of this proposal is to attract financial institutions to the Polkadot ecosystem. This could be done through strategic partnerships with projects already operating on Polkadot or by the financial institutions developing their own technology solutions on top of Polkadot.
In both cases, the aim is to get the FI to participate in a PoC that ultimately leads to commercialising a product or service.
Why Me
I am the founder of Silta Finance, which specialises in AI-powered bankability assessment technology and DeFi loan pools. Before moving into tech 5 years ago, I spent 15 years in structured finance, which involved undertaking transaction advisory roles with multilateral development banks, private equity funds, and retail banks. This includes the World Bank, EBRD, HSBC, and Macquarie, as well as the domestic banks in several countries across Southeast Asia - Maybank, Union Bank, RCBC, BPI, BDO, and Security Bank to name a few. During this period, I worked on dozens of transactions, providing expert advice on the feasibility and bankability of deals ranging from 100M to billions of USD.
Leveraging my existing networks, I am confident in my ability to forge new relationships for Polkadot, especially in the current revitalising crypto market. Recently, I successfully developed partnerships that led to a pilot project with a major bank in the Philippines and the Streamr Network project. And last December, for Silta, we began working on a PoC with a major global bank.
As a reference point, here is a blog about the Philippines Bank - Streamr partnership
https://blog.streamr.network/news-tx-partners-with-wwf-philippines-and-unionbank-for-sustainable-fishing-and-financial/
Also, here is an example of a transaction where I was an advisor to a syndicate of banks for a USD 560m loan for the construction of a bridge in the Philippines.
https://www.roadtraffic-technology.com/projects/cebu-cordova-link-expressway-cclex/
Method & Timeframe:
This initial assignment spans over a period of 6 months. While I possess established connections within the industry, the process of engaging financial institutions (FIs) is intricate and demands a tailored approach. These institutions typically seek a concrete use case to channel their focus and designate a project owner internally. The 6-month duration is strategically planned to encompass several critical stages:
Value proposition development: Develop a value proposition deck to promote Polkadot and key ecosystem projects that wish to forge relationships with FIs. This will require:
Positioning and Engagement: Utilizing my existing relationships to position Polkadot effectively within the FI's strategic interests.
Problem Identification: Collaboratively identifying a specific challenge or opportunity the FI faces, which can be addressed through blockchain technology.
Solution Mapping: Demonstrating how Polkadot, or its ecosystem partners, can offer innovative solutions to the identified problem.
PoC Use Cases: Work with the FI to ideate and brainstorm potential use cases that address pain points raised during the problem identification phase. Link these use cases with existing projects operating on Polkadot or help the FI formulate a plan for developing their own product.
Budget:
Monthly Fee: 2,500 euros
Total Expenses Budget: 9,000 euros
The expenses budget is for multiple trips to meet my banking contacts across Southeast Asia.
6 months assignment total budget: 24,000 euros equalvient to 3,157.89 DOT. ( 1 DOT = 7.6 Euros Coingecko on 11th January 2024).
In terms of reporting, as a minimum, I will provide progress reports every 2 months detailing plans and progress with the FIs.
Please also note
Note on Legal Costs and Negotiation:
It's important to note that legal costs associated with drafting and finalising any MOUs or other necessary agreements are not included in this proposal. Based on my previous experience, such as the negotiation with the bank in the Philippines, we should anticipate a reasonable amount of negotiation, potentially extending up to two months. This duration accounts for the back-and-forth discussions typically required to align the terms and conditions of the MOU with both parties' objectives and legal frameworks.
Benefits to Polkadot:
Proposer: Ben Sheppard (https://www.linkedin.com/in/txshep/)
Telegram: Tx_shep
Email: [email protected]
Polkadot-Financial Institution Partnership Initiative