Interview with Scott Picken
Founder & CEO @ Wealth Migrate

In Wealth Migrate, they have built the leading global real estate marketplace which is built on blockchain and digitally integrated into a listed and regulated exchange. This allows to comply globally in each country and yet investors can invest safely from as little as $100 per investment. Everyone can now turn global monopoly into a reality as they own a global diversified portfolio of institutional quality real estate assets and manage it all on their cellphone. Our vision is to make investing as simple as a swipe of the finger from as little as $1. We have already raised $14m and this has allowed us to build the Trusted Global Real Estate Marketplace with members now in 129 countries (more than half the planet), investors in 62 countries, while growing between 0,5% to 1% a day. We have facilitated $80m+ USD through 2400+ transactions on the blockchain through the platform, which constitutes $520m in real estate deals.
Could you please introduce Wealth Migrate and what led to your founding the company? How did you decide to start with relatively new blockchain technology?
My name is Scott Picken, I'm the CEO and founder of Wealth Migrate, and basically from my perspective, what led us to finding Wealth Migrate was that: I started company in 2004, I've helped two and a half thousand people invest in residential houses and apartments around the world, and I've always wanted to use technology. I found that there were three types of people: firstly, the first type of person didn't have enough money for a deposit; secondly, the second type of person who had no money but wanted to get in the commercial; and thirdly, the third type of person who had the money but didn't know where to invest or what to invest in. Then in 2008-2009 there was the financial crisis, I met to US dollar billionaires, they were investing in medical buildings. I remember I asked them, "Why medical?" and they said, "Well think about it - no matter what happens, people need doctors. Doctors never leave their premises, and on top of that, doctors are very good at being doctors - they're not accountants." And was like, "Wow, that's like the perfect commercial investment." And I said, "Right, I want to participate in this." And they said,"No problem. It's only five million Australian Dollars, per person, per investment." And that's when - that's what I call financial exclusion. We decided form Wealth Migrate to bring investors together so that they had the buying power of the institutions and, ultimately, our vision is to empower the 99 percent to be able to invest like the top 1 percent and solve the greatest challenge on the planet, which is the wealth gap or income inequality. From my perspective, why did we start with block chain? Well, in simple terms: block chain, we believe that you've got social commerce coming together - or, sorry - you've got social media coming together with e-commerce that ultimately forms social commerce and it is underpinned by block chain. Block chain is the foundation upon which it's all built, and our greatest challenge is trust and we believe that block chain actually solves trust. And so we wanted to create people with online solution to solving trust so that they could invest safely and simply, from the comfort of their mobile phone, around the world, with quality partners and quality deals. And so, yup, it's been an exciting journey and it really is one that we very grateful for.
You started this company in 2008 - the same time as the financial crisis and market crash. Today, Wealth Migrate has facilitated $80m+ USD through 2400+ transactions on the blockchain through the platform, which constitutes $520m in real estate deals. Tell us about the company's growth and how you facilitate and encourage that.
Wow, that's quite a question. As I said to you, I've been helping people invest internationally now - and been investing myself - since 1999, and ultimately, what you tend to find is that people want to - particularly when they're in the emerging world and want to invest in the first world - it's about wealth preservation or wealth protection. And so for us, in terms of our growth, it's been a, you know, we've really got a three tier - sorry - five tier strategy. The first one is education based marketing, where basically everything we've ever done has been education, that's why we've got the wealthuniversity.org, you can go and check it out. It's all about education, it's about self belief, it's about people growing their knowledge so that they've got the ability to actually take action first. Secondly for us, is all about actually customer service and delivering for people and, ultimately, word of mouth - where people are letting their friends know about it, and the ability to to be able to invest from smaller amounts from all over the world. The third thing for us is obviously digital marketing - digital journeys and being part of that digital environment. The fourth thing for us is marketplace rollout, and what we mean by that is growing teams: we've got a team on the ground in China, in Dubai, in South Africa, and ultimately growing a team at the moment in India, so very much an expansion plan through that. And the last one is through affiliates and channel partners, you know, people with large networks and relationships where we provide value to them, we provide value to their customers, and ultimately that is an equation where it's one plus one can equal three. I suppose I've already spoken about Zig Ziglar, but we always live up to that principle of: you can have anything you want in life, if you help enough other people get what they want. And so we're always looking as to how we can add value to our partners, how we can add value to the investors, and the more we can add value to them, the more we believe that we'll be able to get growth, and as I said, as we can bring down that minimum investment to a hundred dollars and ultimately one dollar, we believe that growth will be exponential around the world solving a great challenge.
You now have members in 129 countries (more than half the planet) and investors in 62 countries. How do you manage this on a global scale, especially in regards to regulations?
Yes, our stats actually just got updated yesterday: we've now got 900 members in 133 countries. The way that we manage that, well firstly - obviously through technology and through the platform - we provide people with a digital journey to be able to manage it. From a regulatory perspective, you need to be a lot more localized. We call it collaborative smart investing. You can go and look it up, go on and Google my name, I've got articles on LinkedIn or on our websites or on collaborate smart investing, and what it ultimately is is that collaborative investing has been the principle used by the wealthiest people for decades and centuries. There's five principles to collaborate investing, and again you can go and find out about those five principles. However, it's generally only been exclusive to the ultra wealthy, because they are the only ones that have been able to participate in the five principles of collaborative investing. We've added the word 'smart', because ultimately we are bringing technology and allowing collaborative investing for everybody - allowing the 99 percent to be able to invest like the top 1 percent. So in certain countries we've got to use, you know, the old world regulation, where things like crowdfunding and fintech are not recognized. And in other countries, we basically can use the new old regulation, like crowdfunding or fintech, in countries like England as an example. And so unfortunately, there's no one-blanket-fits-all. We, again, use collaborative smart investing because it's a combination of partnerships, it's a combination of getting, you know, partnering with people with the right licenses in the right markets. It's a combination of using the latest in technology and markets that are available, and it's also working within the listed environment and ultimately finding ways to solve the regulatory challenges, but ultimately add value to the customers and provide them with a safe and simple way to invest in quality real estate, with quality partners, in first world countries.
Are there any developments in financial technology that you're especially excited about? How do you decide what to incorporate into Wealth Migrate?
Well that's quite a question, specifically to answer less than two minutes. So for me, I believe that there's eight massive technological developments that people need to know about. There's also eight massive social developments, and the two actually colliding and over a period of, sort of, 2020 to 2030 we're going to see a metamorphosis that is going to be taking place within the, you know, within the financial technology space, the investment, you know, the growth, the wealth space, et cetera. And so, I don't have time to go through all 16 of them and how they're colliding, but I will say to you that for m,e something that I learned when I attended Singularity University and from one of the most successful people ever (in terms of actually predicting the future) was that the way to predict the future is to look for long term trends and look for them intersecting. So things like, you know: block chain, artificial intelligence, big data, you know, all are definitely going to happen and they are all going to intersect with social needs and solving grand social problems. In terms of what's happening, you know, just mobile adoption across particularly the emerging world is absolutely fascinating. Education, gamification, people wanting to have a purposeful impact on the planet - all these trends are starting to intersect, and it provides a tremendous opportunity for those that are prepared to provide the solutions to solve people's problems. At the end of the day technology is not - technology is just the enabler. It doesn't fix things, it's just the enabler. And what you really need to do is look for grand challenges, and cut challenges for your customer and then try and solve those challenges. Like as an example for us, one of our greatest challenges is trust and I believe that trust forms the foundation of social commerce (which I've already spoken about) and so by using block chain, we can ultimately solve our investors challenge - which is trust. And so that's what we do. It's about the investors and what works for the investors long term.
Can you tell us about your new platform launching soon? What's next for Wealth Migrate?
So we've just launched version 5 of the platform which we're very excited about, and for us there's a whole bunch of things that I believe are very important and, ultimately, they are encompassed by new power. I'd highly recommend you go and find the book New Power, or read the Harvard article on new power, because again, this is a massive trend that is taking over the world and people need to understand it. So for us, we've launched the directory, we've got social proofing, we've got the ability for people to be able to have a global wallet, to be able to access deals and to be in control of their own wallet, and ultimately better protection for them in terms of security and, you know, controls within the platform. So what also becomes really important is that, that allows us from a regulatory perspective to be a lot more flexible. It allows us - we've built the back end integrations to be more flexible with our partners, like our affiliates and our channel partners to provide wide labelling options for even real estate partners as well. And so what that allows you to do is to scale in terms of where we're going. We've got a B2C strategy. We've got a B2B business strategy, but also one we're excited about is a B2P which is Business To Platform, and we believe that around the world there are always going to be localized operators and localized platforms that specialize in their countries. However, there is a need for a global trusted real estate marketplace that plugs those local trusted operators into a trusted global real estate marketplace, and that's what Wealth Migrate is: it's your trusted global real estate marketplace. It's been built by partnerships, and ultimately it's about collaborating with the best partners from around the world and connecting them all into one, you know, overall global strategy. We call it the Rockefeller strategy, and our platform is basically being built to enable us to do that. And it allows us to take one step closer to the vision of making investing as simple as a swipe of a finger from one dollar. And ultimately our mission of empowering the 99 percent to be able to invest like the top 1 percent. We look forward to being part of that journey. Cheers.