Grexie’s Tim Behrsin on offering free crypto token with deflationary tokenomics to the world’s population
First of all, how are you and your family doing in these COVID-19 times?
Tim Behrsin: We’re doing great! Sadly, some of our older family friends have passed away, and we’ve had to self-isolate along with the rest of the UK over the last year, but we’re a close-knit family who loves spending time together, so it’s been great. We’d love to visit the wider family, and now the lockdown is over we’re able to do that.
Tell us about you, your career, how you founded Grexie?
Tim Behrsin: Grexie has been a germ of an idea since 2010. It’s been through several pivots, including a privacy-centric social media platform that we built in 2010 and rebuilt in 2019. I learned a lot technically in this process, as well as the sheer amount of work it takes to launch and market a new product. In 2021 we pivoted to an up-to-date crypto business and built on the designs we had for the social media product for our forthcoming wallet and website design.
I’ve got more than 20 years of experience in software engineering. I started out working for my uncles as an IT Manager in Bridgend, South Wales, mainly doing infrastructure management with some development but really my heart lies in software engineering. After I graduated from the University of Bristol in 2004, I traveled to South Africa and Australia and ended up in Brussels where I got a job as R&D Manager with Voxbone. Since then, I’ve been developing software for many startups and big-name clients like the BBC, Daily Mail, and Shell. I’ve always had a keen interest in Christianity, but in 2012, working with David Emanuel from Medlert (now VectorCare), and seeing how the homeless are disenfranchised in America, I decided I wanted to do more to help them.
After a spiritual reawakening in San Francisco, followed by deeply religious experiences since 2017, I decided I wanted to devote my life’s work to helping the poorest in society. But I rapidly found I needed capital to do so, and have been working on startup ideas since then in order to raise enough money to build a charity to help the forgotten of society.
How does Grexie innovate?
Tim Behrsin: Grexie has launched a free crypto token that has deflationary tokenomics built into the distribution mechanism for the token. We’re also launching a mobile wallet that will provide innovative crypto payment solutions for the wider web community, not just limited to those using Web3.
How does the coronavirus pandemic affect your business finances?
Tim Behrsin: We’re a completely remote business, self-funded through my own contracting activities. We’re looking for private investors to buy some GREX at market rates with a discount, which should support us for a few years working full time.
For now, the pandemic has elevated salaries for remote workers so all is looking rosy.
I see that philanthropy is a big part of Grexie, did COVID-19 have an impact on this or has it always been a staple of your business model?
Tim Behrsin: I personally want to devote most of the personal profits from Grexie to helping the poor. COVID-19 has indeed had an impact on helping the poor. With everyone in lockdown, it became illegal to wander the streets and distribute food and clothing, with very few charities licensed to do this. So it was left to the bigger organizations and the government to carry this out. We still helped in our part by supporting our local communities of once-homeless people with the charity when they needed it, but at a much smaller scale than we were doing before.
Did you benefit from any government grants, and did that help keep your business afloat?
Tim Behrsin: We’ve had no government funding. The business is entirely self-funded, for now. We were too late in the game for government COVID grants… which require profits in the 2019 tax year. We’re a new startup after all.
We can do more if we have more money, and go faster with our plans. Something we’re hoping to fix with private investment in 2022 and beyond.
Your final thoughts?
Tim Behrsin: In 2022 we’re looking to establish an independent DAO based on the great work of Wulf Kaal and the DEVxDAO in algorithmic decentralized reputation models. We will be giving away 5% of the total supply of GREX tokens to the DAO to pay voting associates who stake reputation to ensure crypto donations to the DAO goes to verifiably worthwhile projects with a long-lasting impact.