Malcolm CasSelle is the President of Worldwide Asset Exchange(WAX), a company that allows users to purchase virtual items using blockchain as a means for secure payments. The idea for the company came from CasSelle’s involvement in OPSKINS, which was a virtual global trading space that lacked a stable online currency. CasSelle saw that using blockchain for the payment transactions could solve the problem of lacking a global currency and that it would give the platform a credible form of payment.
Before becoming CIO of WAX, CasSelle was the Chief Technical Advisor and President of New Ventures at Tronc, Inc. He has also been a part of other startups in the technology sector like Mediapass and XFires. CasSelle thinks that digital currency still has a long ways to go. He was an early investor of Bitcoin and his companies rely on Blockchain as a way to have secure funding.
In a recent interview, CasSelle has mentioned that time management was very important for owning a business and he had a morning routine that emphasized self-care. He uses mornings as the time to plan out the workday with his team and saves the afternoon for emails and meeting with external business partners. He believes that it is important to work with the brightest people in your nitch and to have a business that is in an untapped market.
Being part of a new industry is important because if there is low competition for an area, it can lead to better profits. The downside is that can be harder to secure funding for something new because the idea hasn’t been shown to be profitable yet. CasSelle isn’t afraid to fail when trying new things. He thinks that failure can be an opportunity for us to learn. It is necessary for building the resilience to not to give up when things don’t go the way that we expect them to.