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Utah Business

For the average person, terms like cryptocurrency, blockchain, and capital markets are foreign. But for Utah-raised Saum Noursalehi, these are the words that build our future.

Revolutionizing Capital Markets Via Blockchain Tech

For the average person, terms like cryptocurrency, blockchain, and capital markets are a bit foreign. But for Utah-raised Saum Noursalehi, these are the words that build our future, and he’s working hard to do that with tZERO, a tech company with a strong foothold in Silicon Slopes.

Saum Noursalehi was born to Iranian parents and moved to Utah when he was around 7 years old. As a child and adolescent, he was interested in art, but also fascinated with computers and technology. Seeing that a career in the tech field would suit him well, he attended the University of Utah, where he graduated in computer science and software engineering. He was working as a software developer when he heard about and CEO Patrick Byrne. The company and its potential was appealing to him, so in 2005 he joined Overstock, writing code and developing software.

From there, Noursalehi rose up the ranks, from software developer to research and development, marketing, and product development. He learned quickly, and his ambitious personality took him all the way to the position of President of Overstock in 2016. During his time at Overstock, he kept close to his tech roots and closely followed the cryptocurrency and blockchain phenomenon. His wheels were turning, and he was ready to start his own company, knowing that there was a bright future for this concept and technology. In early 2018, Noursalehi stepped into the role of CEO for tZERO, and the company is leading the pack in capital markets.

In simple terms, tZERO is using secure blockchain technology to revolutionize capital markets and make those markets accessible to everyone. The name tZERO comes from the concept that the company is eliminating the middleman, making the previously slow and somewhat laborious process of trade and settlement happen almost instantaneously. One of the catchphrases of tZERO is “The trade is the settlement”.

“We’re essentially trying to build the next generation of how assets will be traded,” says Noursalehi, who splits his time between his New York City and Salt Lake City offices. When asked why he does this work, Saum says, “[We’re] able to really democratize access to these things that were, before, not open to the world. By opening that up to ordinary people, not just the wealthy, I think it has the potential to lift people to a higher quality of life.”

The company has been built slowly and methodically, hiring only the best and brightest. Noursalehi takes the culture of tZERO very seriously, using integrity, ambition, and a work-hard-play-hard attitude to get things done. With around 75 engineers in the Utah office, he knows that the tech scene here is strong and well, with plenty of potential to grow.

tZERO sums up the company mission in this statement:

“In the race to revolutionize capital markets through blockchain technology, tZERO is leading the pack with its technical expertise, track record of innovation and focus on regulatory compliance. We approach challenges with an innovative mindset, from formulating new market processes to building the secure and robust technologies that enable them.”

We are thrilled to have tZERO in the Silicon Slopes ecosystem, and we look forward to the growth and potential that it brings to our corner of the world.

Written by John Bowers | Silicon Slopes]

Revolutionizing Capital Markets Via Blockchain Tech was originally published on Silicon Slopes

Comments (2)

  • Clinton Jensen

    Hi, I hear this a lot that blockchain is the future, but it’s really not in its current form. You mention compliance in the article, this is the real issue and I am glad to see it is being discussed. Currently, you cannot effectively audit blockchain, that was kind of the point originally to keep transactions private and encrypted to a very high degree. For most companies, this will not work as a transactional or ledgering solution. The reporting is unreliable at best, and impossible at worst. To be clear, blockchain has many great applications, financial markets, banking, and stocks are not among them until the challenges with reporting are resolved. Regulators will be slow to catch up with how BC works and how they can effectively validate transactions that require in depth auditing for legal/SEC compliance practices and FDIC guidelines. Quantum computing and encryption will likely reign as the solution of the future for these types of transactions in my opinion.

    • David

      This is not about compliance, it is about power. One party wants to stay the middle man for a profitable process while the other parties wish to dethrone the middle man. It is the struggle of ages. Social Gravity pulls these processes down to the most efficient level eventually. With people and companies such as this, the sooner the better. Live and Let live !

      D. Vice

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