Babak Behboudi, serial entrepreneur and business academic is the Global CEO of Synchronium. In this interview, led by Dinis Guarda, both experts go through today’s most incipient technology challenges like the implementation of blockchain in businesses, the collaboration between tech and humans and the future of businesses.
Babak Behboudi started his first startup business in 2000 as a retail startup for hobby and toy products. During his career he established 72 startups and some of them are now among world class businesses working globally.
Babak Behboudi has 10 years of academic teaching in various universities and business schools in the Middle East including Mahan Business School, Bonzhivar Business School, University of Tehran, Azad University, Beheshti University, University of North West, and Istanbul Zaim University.
Babak Behboudi holds a Doctorate of Business Administration from the University of Southern California, Marshall School of Business. His expertise is in Branding & Marketing and has participated in several ICO projects.
Babak Behboudi is currently the Global CEO of SYNCHRONIUM® Group, the Forbes features company in 2019, with headquarters in the US, UK, Estonia, Turkey, Georgia, and India. In the meantime, he’s the board member of Prime Holding, PriMedia, PetroPrime, and ThinkLab Accelerator.
I first learned about blockchain working in banking in Canada in 2013. I knew about bitcoin from my colleagues and I invested a few amounts in bitcoin. A few years later they asked me again about how that investment went. I even forgot about that and was shocked about how much that small amount had grown. It was then when I realized how important crypto and blockchain was going to become. I then started to learn more about how to trade, invest, and know more about blockchain as well. Cryptocurrencies and blockchain were such a big deal that I wanted to teach other people the opportunities that come from them. That is how I started in crypto and blockchain and since then I have been working, learning and helping others understand it better.
Every business needs a specific solution but most of them share some aspects: efficiency, productivity, seamless processes. So I understand that if they are to adopt our solution we need to make sure we can improve these three aspects. To that, we need to add marketing and supply chain management, which is also critical for a business to be successful. So the way I see it, blockchain also needs to add up to these two aspects of business operation.
Our key differencing advantage is our well-designed ecosystem since the beginning of our long and challenging way forward. We have designed an innovative ecosystem for technological and entrepreneurial innovations, startups, and cooperation that connects people, ideas, and innovations to maximize their collaborations in solving the problems, overcoming the challenges, and improving their performance. The triangle of SynchoSphere platform startups, which provides the technological backbone to all Synchronium businesses, SynchroCenter hubs, which synchronize the global activities of our distributed teams around the world. Our third pillar, InnovaNetwork develops our innovation centers and acetates the local startups. All these three solutions, along with other side projects, make our business model a unique one which is based on decentralization and global distribution.
The main challenges I have seen are regarding regulation and culture. Regulators move very slowly when it comes to finance and new technologies as disruptive as this one. But even more challenging is corporate culture, companies are really reluctant to develop and implement new processes or new solutions if it modifies the ones they have in place. They fear risking breaking things that work, even if that means that their processes can be upgraded and improved greatly. And to change that, what we need to do is to change our mindset to this new technology first and then show them all they are missing by not adopting, or at least researching about it.
Regarding the times we live in, I think that COVID-19 is blocking other more imminent challenges like climate change. That COVID19 is able to keep us all in our houses and able to stop the economy means how weak we really are as a species. We need to acknowledge our true problems to make sure that our future is brighter. Change never changes.