Path that led Ian to Sumara

My prior experience is at the intersection of technology and finance.

At NOW Money in 2016 I implemented BitSpark, a Bitcoin-based remittance service. This started a fascination and deep involvement with Bitcoin and Web3 solutions- I could see how much better these could be than the systems in use today, and it started a desire to bridge the gap and make them applicable to solving real-world issues.

Following my exit from NOW Money, I have spent the past two years deeply researching what makes businesses work and understanding my experiences better, with the aim of creating a Web3 business that can be an industry-defining ‘global maximum’ company.

Sumara is a culmination of these experiences; research through hundreds of books, articles and podcasts to help me make sense of my prior experiences and extend my knowledge; through speaking to countless founders, CEOs and other industry experts; and finally a 3 month human centered design sprint where I have undertaken 55 hours of user interviews (and counting!). The full research summary can be viewed here.

I believe that Web3 is the paradigm shift that will create a financial services industry that works better for the people it serves. However for mass adoption, I believe the industry needs businesses to use Web3 solutions to solve big, real-world problems. My desire for my next venture after NOW Money is for it to be the most prominent company doing this in the B2B space in the coming years.

The result of this is Sumara. The business model is an innovative application of Web3 to solve a $2.5 trillion real-world problem, a problem that is growing at a rate of 21% per year.

I truly believe Sumara can positively impact the world, be a valuable addition to the Web3 open financial ecosystem, and if delivered correctly give extraordinary returns to stakeholders.