Zumo is a digital-assets infrastructure platform that allows Web2 companies to get into Web3, said Nick Jones, co-founder and CEO of digital-assets infrastructure platform Zumo. Jones and his co-founder Paul Roach relocated to Edinburgh, Scotland, to start their business. Jones explains that Edinburgh has a rich heritage in computer science and was launching its first blockchain and AI accelerator in 2018, which Zumo was part of.
Jones believes that Edinburgh is the No. 2 startup hub in the U.K. and that the pandemic has allowed them to not have to rely on the small talent pool in Scotland. He also notes that Edinburgh is a secondary hub for financial services outside of London, and that the U.K. is working towards becoming a digital-assets hub. Jones and his team are targeting a secondary regulatory hub in Abu Dhabi this year, and have chosen Abu Dhabi over Dubai due to its alignment with traditional finance.
Jones notes that the biggest challenge in Edinburgh is the small talent pool and the cost that comes with it. He also mentions the fear that the U.K. won’t go as planned, but that the risk is becoming less and less.