May 12, 2021

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Fabriik CEO Roy Bernhard talks ‘building a multi-asset trading ecosystem’ on Coinscrum

6 min read


Fabriik’s CEO and Chief Visionary, Roy Bernhard, recently appeared on Coinscrum’s “Meet The Founders” series. Coinscrum provides weekly cryptocurrency market insights and has an analytical show that features digital currency’s leading experts, executives, and thought leaders—like Bernhard and his team at Fabriik.

The episode began with Bernhard and Coinscrum editor Paul Gordon discussing what the former was doing career-wise before he got into the blockchain and digital currency space. Bernhard talked about his background in engineering, computer science, and law, and how those experiences put Bernhard in a position to excel in the blockchain and digital currency sector since it incorporates elements from each of those industries.

So how did Fabriik start?

“We took a step back and we said, ‘We can actually change the world.’ It’s rare to be at a place in time [and] in an industry with the tools, to do something that is globally changing,” said Bernhard. 

“We said that with Fabriik, we can take this technology and the work that we have done and create a larger ecosystem, and that larger ecosystem will allow us to really deliver and change a lot of people’s lives. We came up with the term ‘re-imagine prosperity,’ we use that as a tenet for turning around and saying, how do we create a financial services ecosystem that allows, not just somebody whose high-net-worth, or ultra-high net worth, or an institution, but somebody who’s sitting in a village in Africa or somewhere in North America or the UK, and EU who makes maybe only a few dollars or a few hundred dollars a week or a month, how do we take one of those people and help them?”

Bernhard went on to talk about the core components of Fabriik, and how Fabriik’s suite of products and services would give everyone in the world access to the financial service ecosystem that is currently only available to high net worth individuals and financial institutions. 

“At the top is the Fabriik Smart Wallet, the Fabriik Smart Wallet premise is based on simplicity and accessibility. We feel that the next battleground for the digital asset space and the blockchain space will be about accessibility. Giving people the ability to use all that function and power but feel safe, protected, and be able to do it in a super simple and easy way, so the smart wallet is the manifestation of that,” said Bernhard.

“But in order for the smart wallet to truly deliver on components like open finance, open banking, integrating different institutions like lending, and borrowing, and trading and holding. In order to deliver on those in a very simple way, it needs to be powered by a very complex and interconnected back-end. That back-end consists of three core products for us and that is, our qualified custodian product which is both digital and non-digital assets. We don’t believe that a proper custodian or product of the future should only focus on digital assets, but physical assets [too], whether that’s real-estate or collectibles, you name it, so that’s the custodian product.”

There’s also the Fabriik Markets, which Bernhard described as “the OTC, market making, and wholesale liquidity which gives you exposure and access to many different liquid markets.”

Fabriik has its exchange that “allows for more traditional trading.” Bernhard said, “Our exchange, the licenses, and the work that we have been doing will allow for both spot and derivatives trading. But we will also push into tokenized securities, tokenized real-world assets, and tokenized digital assets, all of those will create wonderful pairs.” 

Finally, Bernhard said they have the Fabriik Digital Objects offering, which is “the tokenization platform that we built, and it is the glue and the rails that tie all of those pieces together.”

Bernhard and Gordon also talked about why Fabriik chose to build its solution on the BTC (BSV) network, and whether or not regulation in the industry has been helpful or hurtful to date as well as how Bernhard believes the regulatory landscape will unfold. They also explored where Fabriik was on its roadmap.

“We’ve been able to build and release several different products, specifically, the Fabriik Markets product is up and running, the OTC desk, the marketing making product, and wholesale liquidity, those have been up and running for a little while now,” said Bernhard.

“We are ramping up with our sales force and continuing to push out and work with partners on that. Our Fabriik Qualified Custodian, just launched, I would say, a little less than a month ago and we started onboarding clients to that, our exchange is in what we call a dress rehearsal in-house, so it’s fully operating, it’s just operating internally. Once we vet that we will be launching it to all of the employees inside of our organization for a couple of weeks so that we can make sure that everybody is happy.”

“The beauty of being a multi-region organization gives us the ability to understand how it works for different people around the world and in about a month from now we hope to be able to push that out to the general public, our focus for the exchange is we are going to be launching that in the U.S. and the E.U.”

“… Hopefully, by the end of the year, we will be fully operating and running across all of the US and the EU with the exchange product as well as the custodian and others.”

When asked what he thinks will be critical for the evolution of the industry as a whole, Bernhard said:

“I really think that, and I mentioned it before, it really comes down to this notion of tokenized real-world assets and tokenized securities. The ability for the industry to move to a place where almost every asset on the planet is associated or linked to digital circuitry, or a digital token or component. Because as soon as you do that, the fungibility, the transferability, the movement of all of those assets becomes completely seamless and you can do some pretty amazing things.”

“For example, instead of going to the bank to get a mortgage for my property, why don’t I take a mortgage from a collective group of individuals that live within 25 kilometers of my home? why can’t I take advantage of the aggregation of financial products and services that are typically being done by an intermediary, while still having intermediaries for security and insurance, and protection, why can’t I do that in a much simpler way? 

“So I guess that the reality is that over the next 3-5 years, this massive unlocking of assets that people don’t even know exists that are locked tightly in 15-year real estate trusts, that are locked tightly in some country here or some country there, we are going to unlock all of those, and I think people will transact in the asset space or the financial services space the same way that people are communicating—when people think about communications now, it doesn’t matter where you are in the world… the field of financial services will be like we have communications today.” 

To learn more about Fabriik, Roy Bernhard, and Roy Bernhard’s vision for Fabriik, you are going to want to watch Coinscrum’s “Building a multi-asset trading ecosystem with Fabriik’s Roy Bernhard” on YouTube

New to BTC? Check out CoinGeek’s BTC for Beginners section, the ultimate resource guide to learn more about BTC—as originally envisioned by Satoshi Nakamoto—and blockchain.

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