Interview with Luis Krug, CEO of GAMB – Software Solutions For Decentralized Marketplace.
GAMB is led by Luis Krug, who serves as its Chief Executive Officer. GAMB develops software solutions to enable the creation of a decentralised marketplace, letting merchants to sell their products online without the limitations, restrictions, and costs associated with traditional online retail techniques. In his presentation, Luis will inform us about the GAMB project and the prospects that exist for us.
1) Could you please tell us your name and a little about you?
My name is Luis Krug, and I’d like to introduce myself. My ancestors are Austrian and Spanish, and I have an MSc in computer science from DePaul University in Chicago. After spending my whole life in six different nations on four continents, I consider myself to be a true expat. My first e-commerce company in Germany was founded by me when I was 25 years old, with no assistance from a third party. That company developed to become the largest online electronic store in Germany and Spain, with a workforce of over 1,000 employees. Following my leave from that project, I worked with a number of additional businesses, assisting them with growth and exit (e.g. COO of BUYVIP which was sold to Amazon). It is the development of e-commerce software that I am most passionate about. I enjoy seeing processes improved through the use of technology, and this has been a driving force behind all of the successful companies I have founded. As of right now, I am the founder and CEO of an entrepreneurial technical incubator in Barcelona, where we make angel investments.
2) What exactly is GAMB?
GAMB is the decentralised marketplace of the future, with no decision-making unit other than the marketplace’s owners as the only ones who may make decisions on its behalf. To put it another way, we will create a marketplace for merchants who do not wish to be slaves by the big four and have their rule base dictated to them. When it comes to selling on Amazon, a small merchant is squeezed like an orange: he has no access to consumer data, is always competing against other sellers for the same customers, and can be eliminated at any time. That is something we want to change. We want merchants to join forces in a Merchant Alliance so that they can reclaim their decision-making authority.
3) What is the underlying technology that powers GAMB?
The marketplace technology will be based on one of our Java frameworks, and it will be available soon. In the past, we have developed scalable e-commerce platforms, and our solutions have readily managed yearly turnovers in excess of $2 billion. For the time being, the blockchain technology will be built on Ethereum, and we will keep a careful eye on any new technologies that arise in the future.
4) What was it that spurred you to use distributed ledger technology to decentralise an online marketplace?
A democratic and decentralised system can only be justified if there is complete openness at all levels of government. Blockchain technologies ensure transparency in terms of token ownership and transaction history, and distributed ledger technology is also immutable, as demonstrated by the Ethereum blockchain. Furthermore, we are firm believers in open source technologies, and our full source code is and will continue to be made available to anyone who wishes to examine it. I am not aware of any other initiative that places such a high value on transparency and traceability as we do.
5) What are the most important services that GAMB offers?
It will be relevant traffic that will be the most important service that the GAMB marketplace will deliver to its businesses. We will drive traffic (visitors) to the marketplace, with the goal of converting that traffic into sales. On the other side, we provide our Merchant Alliance members with a democratic voting system, allowing them to select for themselves what will be produced next. After all, it is the merchant who is familiar with and understands the demands and trends of the market. The majority of marketplace projects fail because the team programming believes that they are better than the merchants at determining what they need.
In terms of how they generate revenue, what is the difference between the GAMB and Gambio?
Founded in 2000, Gambio is a renowned software company and the primary partner of the GAMB marketplace. They are not, however, the same thing. Gaming earns money by offering software solutions and value-added services to businesses and individuals.
The GAMB marketplace will make money by charging for extra transaction services that are available on the platform. For example, a merchant may require a specific payment gateway in order to collect payments from a country into which he want to expand his business but does not know how to put one in place. With the payment gateway, we will offer the API connection and will earn a nominal charge from the payment gateway provider. The entire cost to the merchant, on the other hand, will be less than the price he would receive from the payment gateway if he did everything himself. Because it is the collective strength of many that will drive transaction costs down, we will equip the Merchant Alliance with that strength. The power to negotiate parcel costs for 1 million daily parcels against 100 daily parcels is not restricted to payment gateways; again, it is the aggregate of many merchants in the alliance that will ensure that this project is a success for everyone involved.
7) Who are your most significant competitors in the blockchain-based retail arena, and what distinguishes you from them?
Despite the existence of projects such as Hamster or Storiqa, these are all lacking in two important aspects:
1. A merchant base that offers a wide range of products: We already have 25.000 merchants that are ready to join us. 2. Proven e-commerce experience: The Gamb team has invoiced over 5 billion in e-commerce sales during their professional careers.
8) Do you have any investment opportunities that are now available?
We are now conducting a private sale to investors who are willing to make a minimum investment of 25 ETHs. Our token will be on sale on July 1st, 2018, and you can participate by putting down a minimum of 0.1 ETH.
9) Could you tell us a little bit about your staff and your customer service?
Yes, Andre serves as the company’s CFO, and Emrah serves as the company’s Chief Technology Officer. Andre has extensive experience in the areas of ethics and the management of rapidly expanding businesses. As a former CEO of a company that was sold to Facebook, he has also gained valuable knowledge in fundraising and exit strategies. Emrah has been developing e-commerce frameworks since 2001 and is well-versed in the development of robust and scalable solutions that do not require extensive maintenance once they are in production.
We also have the tremendous support of the Gambio founders, Daniel and Nunito, who have worked together to establish Gambio as the leading shop software firm in Germany and Europe. That is a highly valuable and powerful asset, especially when you consider that they began operations when they were only 17 years old and rose to become market leaders without the assistance of any outside investors.
We have excellent assistance from top-tier specialists such as Eric Sarasin and Felix Hötzinger who serve on the advisory board of the company.
10) How secure is GAMB, and would you be interested in discussing your compliance and security?
GAMB is a risk-free investment. We have the assistance of what is arguably the most known law practise in the world when it comes to KYC and integrity problems.
11) Do you have any further information that our readers should know?
We are convinced that we are working on a project that will change the face of the world. This is especially true after learning that 90.000 people have joined our tiny telegram group. Our crew is overjoyed. We had anticipated some sort of rush, but what we have seen and experienced thus far has been extraordinary. This confirms that we have the correct proposal in our hands at this point.