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Nevin Freeman

Nevin Freeman is the CEO and co-founder of , a protocol for creating asset-backed on . [1]

Education

Freeman graduated from Portland State University with a Bachelor’s in Transportation Engineering in 2009. [1]

Career

In 2009, Freeman co-founded RIABiz, an industry-insider publication, where he served as the CTO until 2011. After leaving, he co-founded MetaMed Research, Inc., a personalized medical research company, where he was the CIO for a year. [1]

In January 2016, he co-founded Paradigm Academy, an education institution and company builder. The following year, he co-founded alongside Matt Elder. In January 2024, launched two new companies, ABC Labs and Confusion Capital, to aid in the ecosystem and protocol development. Freeman now serves as the president of Confusion Capital. [1][2]

Interviews

Designing Reserve

In September 2022, Freeman sat down with Money & Macro Talks to discuss the ideas behind the and what the company was working on, starting with short-term goal: [3]

“The short-term goal is to utilize to assist individuals in managing situations of hyperinflation and high inflation. This involves creating a to the US dollar, specifically targeting accessibility for people residing in regions experiencing high inflation or hyperinflation. Currently, this is achieved through a user-friendly mobile application, effectively offering a digital dollar account backed by .”

And their long-term goal: [3]

“The long-term objective is to establish a alternative, essentially a new form of stable currency that differs from traditional models. Historically, currencies have been based on precious metals and later transitioned to currencies. While there's a precedent for commodity-based money, logistical challenges have hindered the creation of a diversified basket of assets to serve as currency. However, advancements in technology, particularly the internet, have made this feasible. Despite the technical capability, legal, trust, governance, and administrative obstacles have prevented the practical implementation of such a system.”

He then discussed why they designed the stablecoin (RToken) the way it was: [3]

“The question arises: why not use US dollar directly? One key aspect is reducing dependency on any single issuer. Should any issuer face regulatory hurdles or operational constraints, potentially affecting the stability of their , provides a safeguard. It allows for the exchange of tokens from one issuer to another, ensuring the continuity of value for the end-user token, token. This approach ensures resilience even if issuers need to be replaced for any reason.”

“This setup prevents U.S. banking institutions from censoring our business, as opposed to us censoring our users. We still have the capability to restrict user accounts when required by law, although in the long term, we aim to enable users to hold balances directly within the app. This step would offer enhanced protection, ensuring users' funds cannot be seized or transactions interfered with. However, this transition is pending due to the high transaction fees on . We're navigating the broader community's efforts to address this issue, seeking to make transactions more affordable and efficient, in line with the wider technological advancements in the ecosystem.”

Presentations

Private Money

At the and Hayek conference in May 2021, Freeman discussed the evolution of private money issuance, particularly in , reflecting on its shifting social acceptability. He noted the significant impact of in challenging traditional norms, highlighting its immutable structure, which forced regulators to adapt rather than suppress it. He acknowledged the initial speculative enthusiasm surrounding as potential widely used currencies but observed a shift in narrative over time. He also pointed out regulatory concerns, exemplified by reactions to Facebook's Libra, indicating potential challenges for alternative currencies. Freeman emphasized the importance of addressing , governance, and adoption hurdles, especially in regions with volatile currencies. [4]

Reserve Launch

In January 2023, Freeman led the launch of the , presenting a detailed discussion on its concepts and objectives. He began by addressing the human tendency to avoid confronting confusion, emphasizing its importance as a precursor to understanding. He illustrated the global inflation issue, using historical examples to highlight its impact on purchasing power. The addressed this by creating asset-backed currencies to maintain stability. Freeman also outlined the growth of the team and opportunities for individuals to contribute to the project. [5]

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Nevin Freeman

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Edited On

May 13, 2024

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