Investing in Blockchain and Improving the World, the Jay Rosenzweig Way

Jay Rosenzweig on Business Rockstars

Tomorrow-land… Today

Investing isn’t just adding zeros to account statements. It’s about accelerating happiness and prosperity on a societal level. That’s why Jay Rosenzweig is putting his faith (and dollars) into blockchain, a technology with an enormous potential to redefine old business models, empower consumers, and generate wealth for companies of all size and shape.

It’s true that blockchain investment has been losing steam, due in part to increased regulation in the ICO space, and a much-needed corrective in hype-levels, but Rosenzweig’s confidence runs high. Now, more than ever, investors are able to separate the wheat from the chaff, to know which companies have the right stuff and which are creatures of vapor. And as the technology makes its way into consumer hands, a clearer and clearer picture presents itself of what’s viable on a mass scale.

Jay Rosenzweig at the Ascend Conference, Gala Dinner – “Innovate To Differentiate” – September 2017 - Toronto
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Jay Rosenzweig at the Ascend Conference, Gala Dinner – “Innovate To Differentiate” – September 2017 – Toronto.

What Rosenzweig Looks for in a Company

As a veteran of assembling sterling executive talent, one of the key traits Rosenzweig looks for in a company is the team. With a still-evolving technology like blockchain, a strong presence at the CEO position is essential: someone who not only has experience with the technology, but who has a proven track record of navigating the bleeding edge. And as a proponent of social causes and individual rights, Rosenzweig gravitates toward companies that leverage blockchain technology to disrupt old models that benefit the few at the expense of the many.

CoverUS and Tap Coin

One such company is CoverUS, whose goal is nothing short of affordable health care for all. How do they make this happen? By giving users the ability to market and sell their own health data. Another company he has invested in is Tap Coin, an app that offers users a partner network of 100,000+ bars, restaurants, and hotels. When users spend money at any of these locations, they receive 10 percent of their purchase back in Tap Coins, which they then redeem for credits for more drinks, meals, and bookings.

Similar to CoverUS, Tap Coin’s m.o. is restoring data ownership to consumers in a radical break with the existing model, wherein third party companies hoover up one’s information and sell it off in secret to the highest bidder, regardless of whether the consumer is interested in their product or not.

Tap Coin stores user data securely on the blockchain and employs smart contracts to create a relationship between brand and consumer. Consumers have access to the data from their purchases on the Tap Network and can sell it directly to interested brands. In return, they receive Tap Coin and advertisements, special deals, etc. specially tailored to their own interests. For example, a customer who likes a certain type of beer can sell their data to the brand that brews it. Down the road, they’ll receive offers for the product they want, creating a virtuous cycle between customer and brand that’s far more effective than the fractured, scattershot nature of the current ad landscape.

In CoverUS and Tap Coin, we find evidence of Rosenzweig’s commitment to helping society through targeted investing. Each company is using blockchain to disrupt old business models that have broken down and left millions unsatisfied. Both are giving the consumer the power back. And both are the first of a wave of companies that will change the way we do business forever.

Disclosure: Hooch/TAP Coin cofounders Lin Dai and Jared Christopherson are investors in BlockTelegraph; the company does not hold a seat on our editorial board or have any editorial review privileges.


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