Steph Chan, part of the Marketing team at Tacen is excited to share with you, the second installment of Tacen Talks, where we chat with Tacen team members to get a closer look at the company and product development. In this episode, we get to know our Product Manager, Lucas Barreto to learn more about him, his role at Tacen and more about the product he is managing – Tacen Compliance.

Please enjoy and stay tuned for more episodes to come! For more information, check out the links below to follow us on social and join our Telegram group.

Tacen Website: www.tacen.app
Twitter: https://twitter.com/tacen_app
Telegram: https://t.me/tacen_app
Facebook: https://www.facebook.com/tacen.crypto
LinkedIn: https://www.linkedin.com/company/tacen/
Tacen's Regulatory Corner: https://blog.tacen.com/tag/regulatory-corner/

Steph

Hey everybody. My name is Steph, I'm from the marketing team and today we will be talking with Lucas a PM from Tacen to learn more about what his team is building.

Lucas

Hey everyone.

Steph

Hey Lucas how are you?

Lucas

Hey Steph, I'm good man, how are you?

Steph

I'm doing well. Thanks for being here. So let's get started. Do you want to take a second and introduce yourself?

Lucas

Yeah, sure. Well, I'm Lucas Barreto in English, but in Portuguese, Barreto and I'm from Brazil, right at the middle of it. So no beaches unfortunately, landlocked but that's fine. Very hot, but it's fine.

Steph

How long have you been at Tacen now?

Lucas

A year and three or a year and four months. Something like that. When I first got into the company 12 people, I think were here.

Steph

Was Tacen the first time you got into crypto?

Lucas

Not really, no. Well, crypto I've been around for a while now. Like first time I bought Bitcoin I think was in 2017. But even before that I was young at the time it was in my first job, stuff. I bought some crypto went to the top. I sold some, success story. I made like a hundred bucks, you know, amazing. But even before that I was around adjacent to the communities around crypto, on Twitter or Reddit or YouTube and stuff. Yeah.

Steph

How did you find Tacen?

Lucas

Right. My story is very similar to David's actually. I found that sin by following Jae on Twitter and he used to, he used to read a lot and he was adjacent to this communities that I was adjacent off. Right? Lurking and stuff and he started showing up on my feed and I was like, yeah, this guy has some pretty cool ideas.

And I actually remember very vividly, his a biography on Twitter at the time was "code hole until @tacen_ app is built" or something like that. I was like, what, what is it? Then he tweeted, like, I need someone that speaks Portuguese. And I was like, yes, sir, please. That's me. And yeah, and in the first conversation we had on the DMs, like 10 minutes after, he was like, "and I think you are the right person" And I was like, yeah, I think I'm the right person also, sure! And then it worked out and a lot have happened since then.

Steph

A little bit. A quick side note to anyone listening, Jae has since retired from Twitter. So unfortunately not able to find any of these wonderful tweets anymore.

Lucas

Unfortunately.

Steph

But through this channel, we have been able to find wonderful people to join this company. And Jae is now out of the code hole because Tacen.app as a company now exists. And not only does it exist, we have a big team, now are launching products and selling them to customers. Which leads me to talk about the product that you lead Lucas, Tacen Compliance.

So can you tell us exactly what the Tacen Compliance product is?

Lucas

Right. The Tacen Compliance product is a tool for founders or CEOs or a Chief Operating Officer or C-level people in a company that wants to do, wants to sell tokens, but they are unsure or they don't have the time, or they don't have the resources on how to do that in a compliant manner.

Right? That's the whole problem in this market. The US has a very involved compliance framework, right? And for tokens it's even more involved because it's such a new field, well you have to do a bunch of research to even start launching tokens, compliantly.

And so that's what Tacen did. Tacen did a bunch of research on how to launch a token in a compliant manner in the US. And Tacen already has this framework already built because we helped our partner, TXA to launch the TXA in a compliant.

Steph

Can you talk a little bit more about maybe some of the steps  in Tacen Compliance about how it works.

Lucas

So it's basically like this, you have a list of people you want to sell your tokens to  right? And you invite them to give them to do the KYC workflow.

Steph

And what does KYC stands for what exactly? For those that don't know.

Lucas

KYC is know your customer, a law to remain compliant. You have to know who you're selling the tokens to right?

Steph

Right.

Lucas

Right. So you first, if it's an individual, you need their information like; where did they live? What is their name? Where did they get the money from? Or what is the source of the amount? So that's what you're trying to do. You're trying to know if or you're trying to find out if this is a legit person or legit entity.

And so there's also know your transactions, which is relations to AML, which is anti money laundering laws. Like you need to do the work and you need to do the research on the people you're selling. You're selling the tokens here. You can't just, you know, open it up and sell to whoever wants it.

You are the ones sending the token, so the responsibility, for like who are these people is under you. You know, like you're the one who needs to be responsible for that. So with Tacen Compliance,  the customer or the token issuer who is using Tacen compliance is the one doing the review themselves.

If you go to our website, that's why we call it, that other solutions are black box. So like, because this one is a workflow built for the token issuer to use. That's why we use the term "don't trust verify" right? Like the famous Bitcoin crypto term. Because you can verify and can actually verify the workflow that Tacen Compliance has built.

Steph

Can you tell me a little bit more about what that workflow looks like? Like there's a lot of steps involved that you're mentioning. You know, it sounds like KYC, accreditation, doc management, like what, how much of it does Tacen Compliance actually take care of for the customers?

Lucas

Right. So the idea behind Tacen  Compliance is to be an end-to-end solution. So yeah, we're talking about KYC; so we're getting that information from the purchasers and reviewing them. We're talking about the accreditation workflow also, which is specific to the US. In the US you cannot..

Well, you can, but you're liable for it, right?

Unless the, you cannot get investments from people who are not an accredited investor under US law. And like I said, you can do it, but then you're liable for, you're personally liable for it. People can sue you basically.

Steph

Right.

Lucas

Besides that, we have document management, which is the KYC part is not the only part of selling a token. Right? There's a contract involved in selling the token. So like you need to have a document management for that. And Tacen Compliance does that also. Which is sending out the contracts for people to sign and then sending out that contract, which was signed by the, by the purchaser to the issuer to sign, for both parties to sign.

There's also consulting agreements you can do with Tacen Compliance for your contract, your actual contract creation and your actual token distribution are, or how is that token going to be distributed? Right.

Steph

So when you say token distribution, that's, that's kind of like after everyone has made the purchasing and then that's the system where tokens are given to the purchasers, right?

Lucas

Yep, for that to work, you need to already have a token created the actual smart contract for the token, and then that needs to be in the vesting schedule, right. Or of course you could, potentially, do this all by hand, like manually.

Like someone bought XYZ and that will vest 20 percent in a year. So while we could do that manually. But then if you have a hundred or 200 or hundreds of token purchasers, like how are you going to organize that?  So like the vesting or the token distribution workflow is a software solution for that problem.

Steph

Does Tacen Compliance also help out with other aspects of token generation? You mentioned a lot about the technical aspects, but what about the strategy aspects or the operational organizational and governance side of things?

Lucas

Yeah, so that Tacen Compliance software is a tech solution for this. But we do offer offer consulting on top of creation, right? So, tokenomics, white papers and stuff like that. Yeah. We can help with that actually.

Steph

Awesome. What do you think is  the biggest pain point that tasks and compliance solves for people?

Lucas

Well, the biggest pain point for me is, like I said, there are a bunch of other solutions on the market right now. But we're talking about compliance, and we're talking about this  need to be compliant in this unknown space, which is crypto, right? Okay. And so that's what I think Tacen Compliance solves. The biggest pain point that Tacen Compliance solves, which is it's not a black box solution.

The user can actually, or the token issuer, can actually go there and see what is actually being done to his purchasers. And unlike other solutions, which is just like, a third-party, you can't look at what's going on. You can't look at the KYC process. They just do it for you and you trust them that it's actually compliant, you know. So Tacen Compliance is a more open solution.

Steph

Right. And it's more responsibility and  ownership on the actual companies themselves.

Lucas

Yeah. Which is a good thing, right? It's  the triad for cryptocurrencies. Like you can't have a decentralized solution in a secure solution and stuff like that.

And it's just like Tacen Compliance. It's more responsibility on the token issue, yes, but that's why we're creating, we created this workflow, which is an easy to use solution. So although it's more responsibility, meaning more work on the issuer side I think it's a very  good solution because it's easy to use, right while being more secure for the issuer.

Steph

Right. And  because it's an a la cart type of solution we can really help out and fill in any gaps that people have. If they just have one or two gaps that just need to be filled with something specific, we can do that for them.

Lucas

Yeah, we have the experience, right? We did this and this workflow built. So it's very helpful  for founders that are putting their feet on the water, but are unsure on where they're at, like legally, I think  Tacen Compliance has that experience.

Steph

Basically, any company, is it any company, any industry that was interested in making a token? Is there a specific industry you guys are targeting or tell me a little bit more about that.

Lucas

Actually, yeah any company that wants to tokens and use our product.  It's not based around their industry is more based around, the places they want to sell. Right. And so, yeah, right now we're actually targeting companies that are interested in selling tokens.

We have been in talks with  different kinds of companies, like much different than only the crypto industry. So that's very exciting also.  We've been in this market for a while, you can see  everything, actually shooting out, you know.

Steph

Like all the potential growth.

Lucas

Yeah and everyone becoming interested in this market, you know?

Steph

Yeah. I love it. So tell me a little bit more about your role in all of this.

Lucas

Well, my role right now. Yeah. Like I said, I started at the translator to Portuguese. But right now I'm a product owner for the Tacen Compliance product. So what that means is I'm working closely with engineers and managing the team.

Of course, managing is a very big word for what I do. Like the engineers that I work with right here. They're amazing. And yeah, so yeah. Not only with the engineers, but the sales guys and the marketing guys, like Stephanie right here. And so, yeah, that's what we do. That's what I do right now.

Steph

Awesome. So what are you most excited about Tacen Compliance?

Lucas

Well for Tacen Compliance, is I, before I got into Tacen, I didn't know that this would become a problem right, in the crypto industry. But as soon as I started talking to Jae, I was like, oh God, this is a very big problem, that we need to solve. Right, and so what I'm most excited about is we've seen the market, we've all been in watching what the market is doing.

And it's getting big, like very, very, very big, like crazy big. Every cycle it becomes exponentially bigger and more minds, like we cannot imagine what the next cycle will bring, right. And what I think right now is that Tacen Compliance product is a very important product for the market right now.

I don't know if it's going to happen today, I don't know if it's going to happen tomorrow or whatever, but of course governments are looking at crypto, right? And that's, that's going to happen, exponentially, like it always does. We've been quiet for a while and right now they've been working on it. You can imagine they've been working on crypto for like three, four years, now.

And so I think the Tacen Compliance product is  a very good solution for everyone to sleep at night and still sell their tokens. Yeah.

Steph

Yeah. I love it. You're right in the US especially, regulation is really intense and there's a lot of government bodies that want to have a say in cryptocurrency. So in the next coming years definitely going to be interesting to see what happens.

I'm actually really grateful that our legal team writes up. The Regulatory Corner, cause that's kind of a good way to keep tabs of everything that's happening.

Lucas

So our legal team is amazing, right?  I think by 10% of the company is just legal or something like that. So like they do a lot of work here. Like and that work is, I think it's not only important to Tacen,  it's important to the whole of the industry.

Steph

Oh a hundred percent. Yeah. I mean, I feel like a lot of what they do relates back to Tacen Compliance itself, because again, the product is for helping companies stay within legal and regulatory bounds. And the only way we know I can keep up with all of these regulations is legal.

Lucas

You know, in our website, people can read like compliance first. It's a "compliance first" or  "legal first"  on all of our products,  I don't think people understand what that means. Our CEO, Jae is a very "legal first" kind of guy.

And that's why, well at least I think that's why, our company goes in that direction. Right? It's very important to him. It's very important to us. And I think it's going to become so much more important the next few months and the next two years for the whole of the industry. So that's, what's so exciting. Right. I feel like we're one step ahead of the market. That's what it feels like. I don't know.

Steph

I love it. Okay. Last question. What is your favorite thing about Jae.

Lucas

Oh, boy. Where do I begin? I don't know man, Jae is a very interesting person. As soon as I met him. First time I met him was on Twitter, of course, but he had a livestream for Tacen. I was the only one there by the way. Yeah, and as soon as I saw him, he and I took a liking to him like crazy. I, I don't know. I it's very brown nosy to talk like this, but I don't care. Like I truly do love the guy and he's so smart. He's crazy, crazy smart. And I just love talking to him. I love talking to him every time I talked to him, and I'm saying this from the bottom of my heart. It's not just like to say this. It's like every time I thought that he might learn something for real, like every time, like he's, he's great. I love him.

Steph

It's funny because like, I've met you in person and I've seen your energy, like in real life so that I know this is real, you know, like people, you know, people may not be able to fully hear it or see it, but I know.

Lucas

Yeah. Hopefully, hopefully I don't come across as like a, a fake person because I truly do love him.

Steph

Super genuine. You do. I know. It's great. And it's because of you and David and the amazing team that we have, that we are where we are today and have the product. And the products that we do, I should say.

Awesome. Well, we'll be talking to you soon with David and we'll be doing our monthly PM chat. And until then, thank you so much, Lucas, for taking the time to chat with us today.

Lucas

Thank you Stephanie, was amazing.