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Canary Wharf: How Creative Virtual’s Gluon software is next level for chatbot tech

Founder and CEO of the Cannon Workshops-based company, Chris Ezekiel, talks global growth

Creative Virtual founder and CEO Chris Ezekiel – image Matt Grayson

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All in all, 2023 is shaping up to be a big year for Chris Ezekiel and Creative Virtual – the company he founded on the Isle Of Dogs in November 2003. In 12 months time, he and his colleagues will be celebrating its 20th birthday.

But before that happens, there’s the small matter of becoming a father for the second time and – business-wise – the firm is set for a major release of its V-Person software, named Gluon.

The software is the platform that has allowed Creative Virtual to grow into a global concern, from its base next to Canary Wharf at Cannon Workshops

From there, housed in the honey brick of the Grade II listed former cooperage beside West India Quay, Chris and his team compete with the likes of Microsoft, IBM and Google in the field of conversational artificial intelligence (AI).

Together, they have built a business with global reach, servicing clients across the world including the likes of HSBC and Lloyds Banking Group – one of the firm’s first clients and still a customer today. 

In 2022, Creative Virtual has operations in the UK, the US, Europe, Australia, Singapore and in India. It’s a Docklands business trading with the world.

“We’re still independent, which is a bit unusual for a tech company in the fast-paced world of AI,” said Chris.

“I always started it for the long-term, and over the years we’ve had quite a few offers to purchase the company, which I continue to refuse.

“I’m just enjoying it and we’re competing in that area we’re operating in – conversational AI is all the rage now.

“For me, it’s about working with incredible people who are passionate about innovation, creativity and technology – some things are more important than money.

“We don’t have investors so what we do isn’t linked to their short term goals.

“While Elon Musk has recently bought Twitter, I reflected the other day that he could not buy Creative Virtual. It’s great to have that independence.”

The company’s position comes through its success developing and implementing chatbots for clients. 

These might be used by a firm’s customers, employees or its customer services personnel as a resource to assist clients.

Gluons hold quarks together at a subatomic level so they can become atoms and ultimately everything in the universe

With almost 20 years in business and numerous accolades – among them a Queen’s Award For Industry in 2017 – Chris said the company continued to prioritise innovation, investing its profits to grow.

“It was always the dream to become a global company,” he said. “But you don’t often get a chance to step back and consider what you’ve built.

“We pride ourselves on having a really quirky, passionate team – a really eclectic mix of individuals. It also allows us to be adaptable and to work in markets all around the world.

“Travelling to these different locations really brings it home and having the fantastic customers we do really helps. 

“Being able to explore creativity and innovation with those companies and partners has been amazing over the years. It’s what keeps us going.”

That ongoing drive has resulted in Gluon, which Chris said would be the foundation of Creative Virtual’s work for many years to come.

It’s aptly named after an elementary particle that holds quarks together to form subatomic particles such as protons and neutrons – the basis for atoms and ultimately everything in the universe.

It’s also a reflection of the Creative Virtual founder and CEO’s love of physics.

“I have a picture of Richard Feynman above my desk with his quote that you should not fool yourself and that you’re also the easiest person to fool,” said Chris.

“That’s something I always focus on because it’s really important to keep things in perspective, to keep them real.

“With Gluon we’re very excited because, while we do small software releases every month or so and major ones roughly every 12 months, this is the kind that only comes along once every four years.”

Gluon as software bears some similarities to gluon particles in that they both connect elements to create something of greater complexity and function.

Gluon is designed to work within the composable enterprise system

“First of all, the new software allows us to integrate our system with lots of other systems at a large enterprise,” said Chris.

“That might include CRM systems and data management systems, for example. 

“There’s a lot of buzz around AI and we’ve seen chatbots that use machine learning as a black box without any control over the responses the system is giving.

“We’ve always taken a different path, combining AI with humans overseeing the system, and Gluon will make that easier.

“The way we’re combining those two elements is unique in the industry and Gluon makes it super easy for organisations to use.

“The way it’s configured and the reports that come out of it make it really efficient and also controllable.

“There’s also a lot of interest in something called the ‘Composable Enterprise’ which is all about plugging systems together.

“Gluon fits perfectly into that to become a key piece of the jigsaw.

“We intend to launch in the early part of next year. We already have a test version available and have done 50 demonstrations so far.

“The feedback has been incredible. We sell direct to customers, but we also work through some partners in the world and everybody’s been unanimous in their positive responses.

“It’s a great way to develop, because the feedback is very specific.

“Taking our time is very important, because we’ve been able to listen to what people are saying while we are developing the software.

“We can be more flexible with our customers because we don’t have pressure from investors.

“It’s funny for me on a personal level, because people wondered whether having a 16-month-old now and another on the way in February would change my view about the company and whether it would be time to sell – but it hasn’t one little bit.

“I am often asked how difficult it is to separate the business from my personal life, but my view is that you should give up doing that because it stresses you out.

“If you’re an entrepreneur, you’ve got to build it into your life – it is your life and you have to find a way to do that.

“Having a supportive group of people around you, both inside work and outside, and having some hobbies and interests is essential. I snowboard and watch West Ham to relax.

“But at the end of the day business is business, you shouldn’t take it too seriously.

“That might sound odd from someone who has to pay all the bills and make sure the people who work for me can pay their bills – but knowing there are more important things in the world keeps me level-headed.

“It’s a balance and as long as you can say overall you’re happy with that balance, then you’re in a good place.

“That’s why I can’t imagine retiring.”

Read more: Discover the 2022 Greenwich Theatre panto

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- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com
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Canary Wharf: How Alchemy Machines provides smart transcription services

AI driven platform is set to launch in November 2022 aimed at businesses in the legal sector

Alchemy Machines platform could make note-taking by hand a thing of the past

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Singer, martial artist, entrepreneur.

These are Dia Thanki’s passions but it’s in the third where our chief interest lies.

So it’s not Motown classics or her practising the graceful forms of Wing Chun Kung Fu that will fill this space, It’s her latest business venture.

Alchemy Machines, the company she founded and runs as CEO, is set to launch its first product in November following two years of development.

Based at Level39 – Canary Wharf’s tech community and workspace at One Canada Square – the idea for the business grew from a personal experience.

“I was involved in a car accident quite a few years ago,” said Dia.

“I was coming off the motorway, going downhill and there was a lot of traffic ahead – it was gridlocked.

“I stopped my car but there was a van going at top speed, which crashed into the back of my vehicle – leaving me with whiplash and chronic back pain.

“As a result I was having a lot of meetings with my personal injury lawyer, but the discomfort I was in meant I wasn’t able to focus on what was being said.

“I decided to look for an app that could transcribe voice to text, but the technology was generally very primitive at the time.

“It was then that I thought how wonderful it would be if meetings could be automatically transcribed accurately with who was speaking and when. 

“People could then read or listen back and there would be an audit trail.”

Dia had been exposed to the emerging area of artificial intelligence (AI) as a student, first at Cass Business School (since renamed Bayes Business School) and then later during a masters in management information systems at Cranfield University.

“Back then, no-one really cared about it – it was a research topic, but there were very few real-life implementations,” she said.

“But I was fascinated with its potential and my final year thesis was in the area of multi-agent systems.

“It was all about process modelling using software agents to be able to replicate real-world phenomena to convert them into a virtual world. 

“That’s when I began to think about the endless possibilities of a technology like AI.”

However, life took Dia in a different direction, as after graduating, a career as a singer beckoned and she eventually set up a business as the founder of label Diamanté Records.

After pursuing that course for a little over four years, Dia changed heading, going on to discover a strength in project management.

“That’s really my forte – starting with a concept for a web application or a mobile app and taking it from idea to a tangible product,” she said.

“In the process of doing that, I was working with developers, designers both onshore and offshore, globally for organisations such as BT, BUPA and Apple.

“Just before I set up Alchemy Machines, I was working for Tech Nation which is very well known in the tech ecosystem.

“I was its Future 50 programme manager – curating events for the brand and through that work I became fascinated with the world of startups.

“Then Alchemy Machines got a grant offer and there was a need to focus on the company full time and build a team.”

Alchemy Machines founder and CEO Dia Thanki

With machine learning having taken off in the intervening years, it was time for Dia to explore the creation of something that has been in the back of her mind since she sat in the room with those lawyers.

“I’d reached out to various computer scientists, people who had worked at Google and Amazon and senior researchers – had lots of coffees and built up my knowledge,” she said.

“I did a lot of different courses and then found some money to build a prototype, initially from Innovate UK, which is funded by the Government.

“The reason we chose to focus on the legal sector was that there seemed to be a demand, although the product we have developed could be as relevant in healthcare or financial services.

“Alchemy Machines solves the problem of unlocking workflow productivity for corporate professionals.

“The way we do that is to develop a voice intelligence platform that can transcribe sector-specific speech into text, and then also analyse those conversations and summarise them. It’s a feature-rich voice intelligence platform.

“People confuse us with an AI transcription company, but Alchemy Machines is much more than that.

“Given the high rates at which people leave jobs in the legal sector and everything that’s going on in the world at the moment, now is the time for a technology like this to really come to the fore.

“While there are other areas where this kind of technology has been prevalent for a while, that hasn’t really been the case in the corporate and legal worlds.

“I think that’s because they haven’t embraced innovation as fast, although in recent years they have been forced to do so, partly because of the consolidation that’s happening in the sector.

“Legal firms were some of the last to embrace email, for example, but they are now using cloud technology with many companies migrating – it’s only a matter of time before everyone in the market follows.

“People are very risk-averse in the sector.

“There’s a lack of understanding about AI machine learning and sometimes that triggers fear, although it can also trigger excitement.

“There are many offerings out there and it can be difficult for businesses to differentiate.

“But we have a clear focus, we know that being GDPR compliant, for example, is very important for companies in the sector and we have worked with Legal 500 firms to build feasibility scenarios and really test our platform before launch.

“It works like this – let’s assume there’s a dispute resolution case within intellectual property law.

“A group of lawyers – a senior associate, a trainee and a client – are having a virtual meeting to discuss the case.

“Normally, the trainee lawyer would be typing out or writing notes before producing a final version in consultation with the senior associate before it’s given to the client or stored in-house.

“That’s a huge waste of time – especially for trainee lawyers who want to get their hands on high-value casework and not spend their time on boring admin tasks.

“It might be useful for them for a couple of months as part of their training, but afterwards it becomes tedious admin work.

“With Alchemy Machines, all they would need to do would be to press ‘record’ when the Zoom or Microsoft Teams meeting starts.

“The software then sits in the background and, for a one-hour meeting, it would take about 15 or 20 minutes to generate the report in our web application.

“There, the user will find the audio file, the transcription, the analysis and the summaries.

“That will include things like the ratio of who is speaking, the total number of people on the call and a sentiment analysis expressed as a percentage, based on whether mostly positive or negative words were used.

“The platform also tracks the duration of the meeting and the accuracy of the voice recognition itself and these are just the things we can measure now.

“I’m super excited for the launch because this wasn’t a product that was easy to create – it’s very complex because of the machine learning elements, but also the amount of time that’s gone into testing it with real-life users to ensure we’ve built something that’s simple, intuitive and valuable.

“The feedback has been phenomenal.

“I was speaking to a firm we’ve been trialling the platform with and they thought that our product was both more accurate and easier to use than a very well funded American competitor.

“Creating this product and this business has been one of the most challenging experiences of my life because it has demanded such a level of focus and resilience – and I trained as a martial artist for five years.

“There have been two really big challenges.

“The first is the same for any tech company selling solutions to large corporations and that’s establishing credibility.

“The second has been fundraising. There are still very few women seeking investment in businesses in general and especially in the tech and STEM sectors and that makes it tough.

“That’s slowly beginning to change and there are a few different initiatives that are encouraging girls and women to embrace technology and see the potential of it. 

“As a business, we have some key targets to try and attract more women to join the sector and one of our machine learning engineers is a woman, so it’s been a great experience to share this journey with her.

“I hope many more will come to work in tech for Alchemy Machines or others.” 

Dia will be speaking at LegalEx at 2pm on November 23, 2022, at Excel in Royal Docks. Alchemy Machines’ platform is set to officially launch next month.

Read more: How Bureau is offering creative workspace in Greenwich

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- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com
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Canary Wharf: How Unifi.id delivers tech that helps firms cut carbon in their buildings

Level39-based company’s real-time occupancy data designed to help reduce energy wastage

Unifi.id CEO and founder Paul Sheedy

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“You cannot manage what you can’t measure,” said Paul Sheedy, the CEO and founder of Unifi.id.

“The one thing we focus on is giving clients the right measurement tools so that they can manage their buildings better.”

In the mouth of a lesser individual, technology designed to track building occupancy in real time and adjust systems such as lighting, heating and air conditioning accordingly might seem a little dry.

But Paul positively vibrates with passion when it comes to his specialist subject.

On the one hand there’s the engaging Irish lilt of a Dubliner and a glint in the eye.

On the other there’s a burning frustration and exasperation that more isn’t being done to tackle climate change and humanity’s continued overuse of resources.

He’s disarming, funny and deadly serious.

“We talk a lot about smart buildings,” he said, waving a hand to indicate the London skyline stretching out to the City and beyond as we gaze out of the 39th floor of One Canada Square in Canary Wharf.

“But 96% of buildings around the world are not smart.

“What we’re trying to do is deliver the things companies need to actually make them smarter.

“In most buildings, energy wastage is about 30% – just think of that in the wider context of cutting emissions and gas and electricity prices rising so quickly.

“My focus is all about using less energy and so lowering organisations’ carbon footprint very, very rapidly.”

Unifi.id's long range RFID cards are logged by its detectors
Unifi.id’s long range RFID cards are logged by its detectors

Based at Canary Wharf’s tech community Level39, Unifi.id has developed technology embedded in entry and exit swipe cards that allow its detectors to log employees as they pass key points in a building. 

Paul is quick to stress this isn’t about tracking the exact movements of individuals as they go about their day, but rather knowing who is in what general area at any given time and then using that data in a number of different ways.

“The lingering effect of the lockdowns is a good example,” he said. “Almost all buildings are being run as they were pre-Covid.

“Companies have all their cleaning staff, their restaurant staff and security staff in as though the occupancy was the same.

“But some buildings still have only around 2% of staff in on a Friday.

“That those buildings are being run in the same way is ridiculous.

“Before Covid, the way buildings were occupied was consistent, but now there’s not a single one that we run that has any consistency.

“Occupancy is so sporadic and it can be extreme on Mondays and Fridays.

“It’s criminal that all the lights are on, the air conditioning is cooling every floor, with only a fraction of the staff in.

“That’s why our technology can have an impact – the more we monitor, the better our predictive analysis gets. For example, we can see the effect of external factors. 

“We see that about 7%-12% fewer people come to the office on a Thursday if it’s raining.

“In contrast, rain on a Tuesday hardly affects anything and we think there’s a psychological reason for that because if you’ve been working from home on Friday and Monday, by Tuesday you’ll be feeling a need to return to the office despite the weather.

“On a Thursday, you might just think it doesn’t matter so much, especially if you’re working at home or off on the Friday.

“Then you have other factors such as train strikes, which can affect occupancy over an entire week.

“Occupancy detection also allows building owners working with us to tell the buildings in advance so they can adapt – keeping floors closed and turning down the air con, for example. 

“What we’re really trying to say to organisations is that they can adapt to this new way of working, but there will be consequences, so they may need to use hot-desking because certain areas won’t be open.”

The key for Unifi.id is giving organisations this ability to track change so they can adapt what their buildings are doing in real time, rather than simply guessing what’s happening.

Paul says energy is wasted in the vast majority of buildings
Paul says energy is wasted in the vast majority of buildings

“We think there will be a change,” said Paul.

“People working from home, paying for all the lighting and heating, will recognise that it would be cheaper for them to go to work, so it will get busier later in the year.

“In many sectors where there is flexibility, we already know what’s happening.

“Staff are seeing that it’s the right time to go back to work, socialise and interact with other people again.”

Greater numbers back in buildings makes Unifi.id’s technology even more relevant, given its obvious safety benefits.

Should a building catch fire, for example, knowing exactly how many people are in it and where they are is potentially life-saving information for the emergency services.

“This is something I’m particularly passionate about, because back in Dublin when I was a child, we had 48 of our neighbours die in a dance hall fire – they couldn’t get out of the building,” said Paul.

“What we want to do for the London Fire Brigade and for the tenants of buildings is to bring in a new policy where, in real time, if something does go wrong, the emergency services and building managers know the occupancy of the building.

“That means they can monitor the evacuation of the building and could save firefighters’ lives if they then don’t need to go in.

“Also we look at how many people in a building have mobility issues and where they are, so efforts can focus on getting them out safely.

“People don’t always do sensible things when it comes to an evacuation. 

“We have mechanisms in place where, if we can see people heading the wrong way, a completely automated communication is sent to their mobile to tell them where to go and what to do to get to the ground floor, even if that’s to avoid a certain evacuation route.”

Paul created Unifi.id following the success of Symphony Retail AI, a company he co-founded that analyses loyalty card transaction data to better understand the behaviour of shoppers.

Originally conceived to create beacon technology – the idea of sending messages from companies to people’s phones based on their location and profile – his firm switched its focus to property when it eventually became clear in the advertising world that this was a non-starter.

“I hate to admit failure, but I will,” said Paul, who has been based at Level39 since it launched as a tech accelerator hub in 2013.

“The world was convinced that beacon technology was going to be the next big thing in advertising, but it never happened.

“No retailer anywhere in the world ever made it work to detect the right customer at the right time to send them the right offer.

“In reality it didn’t work because it didn’t think about the individual and what they would have to do. 

“So now we focus on making technology that isn’t dependent on people doing certain things to make it work – the more you do that, the better your product is going to be.

“It’s more difficult for the company, but hey, I wouldn’t get out of bed if I didn’t know it was going to be a challenging day ahead of me.

“I enjoy squeezing the grey matter and the brains of brilliant people I work with to find what piece of physics we can break, bend or enhance.

“So we transformed into a proptech company, delivering simple essential data to those managing buildings so they can make them more efficient and better for the environment.

“Over the past two years, it’s not been a great time to be working in occupancy technology, so a lot of what we did in 2020 was to go back to our clients and say: ‘This will end, tell us what we could do to be even better after Covid’. 

“With their responses, my tech team sat down and we just worked relentlessly on building new solutions, working out what the next steps would be.

“We saw that the market was moving from card-based access control to apps.

“But we know this doesn’t make sense because people don’t tap in and out so much using an app, whereas the RFID technology in our cards  means we automatically detect people walking into or out of a building or past our detection points.

“We realised that the way to get around this was to develop a facial recognition system. 

“We only hold the vectors of a face in the camera, and only when an employee of the company walks in or out of the building – this would be detected and put in the database of who is in the building.

“Then we’d mesh that with 3D counting cameras – with these, we don’t know who you are, but we do know how many people pass them, so in reality we have absolute accuracy on the usage of each floor of a building.

“This means that if we do have an evacuation, for example, we know the numbers of people on each floor and we can detect them as they enter each stairway, so we can see the flow and quickly identify where there might be blockages or problems and allow the fire brigade to get to them.

“We really believe that this will become a global system, which will go into major cities around the world, like Dubai and New York.

Paul is clear that Unifi.id’s technology cannot be used to monitor the exact position of employees – this isn’t about tracking who’s at which desk and how many trips they take to the toilet in a day.

He said this would not only be an invasion of privacy on an ethical level, but also that such data would not be very useful.

“We have been careful with every client that we will never be a Big Brother solution – we’re only detecting people as employees or visitors who are allowed access to a particular floor of a building,” he said.

“Secondly, we will never put our technology into places like toilets or cigarette-smoking areas. If an employer wants to do that, they will be doing it without our technology. That’s not what this is about.

“One of my key points is that it should be actionable data, which would deliver the best solution, not just collecting data for the sake of it.

“The world isn’t taking climate change seriously enough.

“We’re failing on every single metric and we have to realise this isn’t about governments – its about organisations and individuals making the right choices on every single thing they do. We have to contain energy with every single device we use. 

“What the UK does have is an amazing ecosystem of accelerators for technology companies and a lot of them are now focused on proptech. 

“We’re now working in collaboration with a lot of those companies and, because we’re working with them, this country is now at the forefront of this sector going forward. 

“We work with people on LED lighting and automated building management systems and by using our data, businesses can rapidly cut energy wastage now.”

Read more: How Ultimate Performance helps its clients achieve their goals

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- Jon Massey is co-founder and editorial director of Wharf Life and writes about a wide range of subjects in Canary Wharf, Docklands and east London - contact via jon.massey@wharf-life.com
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Canary Wharf: How cryptocurrency exchange CoinJar gives investors choices

Co-founder Asher Tan talks cycles, assets and why dipping a toe into crypto is something to experience

Physical currency is increasingly redundant

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This image is a great big pile of old tech (albeit American in this instance).

While coin has been around for thousands of years, there’s a growing sense that physical money has had its day.

Go to an ATM – machines once used on an almost daily basis. Try and remember your PIN and extract some cash.

See how odd the plastic notes feel, how strange the idea that they might be taken to a shop and broken down into small metal discs representing value. 

Currency was digital before the pandemic but now physical euros, dollars and pounds seem increasingly otherworldly.

That’s one reason, perhaps, why cryptocurrencies seem less and less exotic. 

If wealth is simply represented by numbers on a screen, maybe changing the logo next to them with the hope of making money on the trade is a little less scary than say, walking up to a currency exchange counter and converting a familiar set of notes into something completely alien. 

Maybe it’s why about a fifth of British people have owned cryptocurrency as of March this year – up 103% on 2018.

Statistics like these will doubtless be welcome reading for Asher Tan, co-founder of CoinJar, which operates from bases in Australia, and Level39 in Canary Wharf.

He created the company with business partner Ryan Zhou in 2013 after the pair took part in an incubator scheme in Melbourne as interest around Bitcoin, which emerged in 2009 grew.

“CoinJar is a simple way to buy, hold and sell crypto assets,” said Asher.

“We also have tools, such as a debit Mastercard, so that people can go to any ATM and convert their crypto to any currency they want or spend it where the card is accepted.

“That part of the business has been a long time coming – we’d had previous versions, but we were a small company and nobody wanted to work with us until now when we’ve partnered with Mastercard.

“Most people use CoinJar for some form of asset investment, to just buy and hold crypto.

“The popularity of doing that comes in waves every two or three years.

“You have a huge upswing as crypto rises in value, then cryptomania resumes, but that’s just the nature of the cycles. It’s been easing off in the last three months.”

CoinJar co-founder Asher Tan at Level39 in Canary Wharf

Such fluctuations are not unusual and Asher exudes the air of a business owner content to play the long game.

Bitcoin, the most well-known and first cryptocurrency is famed for its rapid fluctuations in value, having gone from a few pence in value in 2009 to more than £30,000 per coin in 2022. 

It’s still about 50% of the total crypto market but has since been joined by a bewildering array of digital coins – Injective, The Sandbox, Synthetix and Bancor, for example – many of which can be bought on CoinJar for a few pounds.

Ethereum, perhaps the second most well-known, can be bought for about £2,300 at the time of writing.

Doubtless people will continue to buy and sell the stuff in the hope of a big pay day.

But there’s another way to make money from crypto and that was the niche Asher and Ryan spotted.

“Being a startup in 2013 was a good vintage – we travelled quite a bit, saw other companies being built and, in the UK, saw the fintech bubble beginning,” said Asher.

“The message was already being pushed out that London was the fintech capital of the world and Level39 – Canary Wharf’s tech accelerator – was created about that time too.

“That was a bold move by Canary Wharf Group, to combine the existing financial infrastructure with fintech and it’s one that has really paid off.

“Being part of that early group, crypto was a movement – we were all trying to figure out this piece of technology.

“Everyone was trying to push for something but not everyone knew what that was yet.

“Everyone was trying to build services – some people created crypto point of sale businesses, others wallets to keep crypto in and some exchanges so people could buy it.

“Would you use it to pay for coffee? There was even a Bitcoin ATM in Old Street. Back then it was underground, people looking for consumer services.

“Now, in 2022, after the pandemic, crypto is almost accepted as an asset class, not just Bitcoin.

“There’s some debate about how you use it, but no-one argues that this isn’t the status quo.

“The premise has shifted and the imagination continues to grow.

“It might seem crazy to some people, but it’s the job of entrepreneurs to make these things happen. We’re trying to create an alternative financial system for the whole world.”

Bitcoin remains about 50% of the total cryptocurrency market

While the currencies it trades in are very different, CoinJar operates in a similar way to a conventional exchange, charging a fee to change money from one currency to another.

It also levies a 1% fee on in-store and online purchases and cash withdrawals for those using its debit card, available in either physical or digital form.

Having operated consistently in Australia, CoinJar has maintained a presence in Canary Wharf, deciding in 2018 to expand its business in earnest overseas. 

“It’s been nine years since we started the company,” said Asher.

“In that time there have been so many peaks and troughs about Bitcoin – it’s died a thousand times. In the early years, you were wondering if this was a fatal step or whether cryptocurrency even needed to exist.

“At some points the overriding opinion was that crypto was just going to evaporate. So you do need belief and it takes time.

“Like with most good things, you have to wait. When we first came to Level39 we never fully launched and there were questions about whether we should just focus on Australia, but we always kept the membership even when we weren’t operating in the UK.

“So, in 2020 we had a proper launch and now we have six people based at One Canada Square. I think the UK market has always been slightly under-served in terms of crypto services.

“But there are some things it has in common with Australia, such as strong regulation.

“It’s always been a market we wanted to enter because the two countries have a unique friendship. It’s a good place to come for Australian startups.

“In terms of the future for CoinJar, the product is always changing.

“We started this business to provide consumers with an alternative way to use finance, so that means we’ve also got to keep up and change as the industry develops.

“As a business, we’re first generation crypto – we now have staff who are much younger and their views are very different – everything’s going to change, right?

“Now it’s Non-Fungible Tokens and these seemed very strange to me when I heard about them in 2017, but nine years ago crypto was very strange to everyone. It’s important to keep challenging yourself about the reality of the online world.” 

The question all those teetering on the brink of their first investment want answered, is whether it’s worth it?

“Different people have different strategies,” said Asher. “Personally, I’m not a trader day-to-day – I don’t really see crypto as get rich quick.

“With fintech there’s no cap to what it could be, so it captures the imagination and then the sky’s the limit.

“In the early days there were a lot of predictions around crypto – everyone would be using it, the banks would all take it. But, come on, seriously? It might happen.

“The premise of crypto has always been about choice. You can opt for something different – you don’t have to choose one of the big banks – you can use alternative platforms in terms of investment. Right now, that means there are more options.

“Crypto has always been something for people who want to try different things. Right now, I do believe the promise has benefit for everyone in terms of buying and holding cryptocurrency – an experience most people should try. 

“You can get into it for £10, so it’s not a huge financial commitment to try to understand what this movement is about.

“Use it, try to make sense of the technological mystery behind it, and I think that’s the first step to a better understanding of why it even exists.”

  • Cryptocurrency remains a very volatile investment. What you do with your money is your own affair and this article should in no way be seen as recommending the purchase of cryptocurrency.

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