cheqd is a new revolutionary company that is striving for the betterment of the future. It is creating a world in which individuals have total control over their personal data – an issue that is becoming increasingly prevalent thanks to the rise of technology. Javed Khattak is the company’s devoted CFO, named CFO of the Year in 2018, reclaims his title as CFO of the Year in 2022.
cheqd is building a better future – one where consumers and organisations can establish trustworthy relationships, control their personal data, and maintain a sense of security. cheqd firmly believes that companies should not make money off people’s data without their consent. This means their informed and clear consent, not just pressing ‘I agree’ when the convoluted terms and conditions are displayed. To make this a reality, cheqd provides solutions that enable verifiable credentials to be transferred between stakeholders in a trustworthy, secure, and efficient manner.
By extension, cheqd endeavours to support and enhance the current data economy business models and establish the flexibility and incentive to create new ones. As such, it achieves this by offering bespoke commercial models and governance structures, which have all been built upon cheqd’s own public permissionless blockchain network. This network features cheqd’s dedicated crypto-token (CHEQ) which is used as a form of payment within the ecosystem. In addition, the company supplies a suite of mobile and backend software tools that self sovereign identity (SSI) vendors can embed in their own client-facing software.
Consequently, the company, through great passion and devotion, has acquired numerous achievements. For example, CHEQ has been listed on Osmosis, the largest decentralised exchange in the Cosmos ecosystem. In addition, the Company has also successfully bridged its token onto the Ethereum blockchain allowing access to CHEQ in the Ethereum ecosystem as well. It is already listed on two centralised crypto exchanges; Gate.io and Bitmart, with more exciting news in the pipeline. Over 60 validators were welcomed on board once the cheqd network was launched, including 20 self-sovereign identity application vendors, digital identity start-ups, investors, and Cosmos-native or cross-chain network validators. The network has been an enormous success, and already millions of CHEQ tokens have been traded.
cheqd’s clients are expected to include governments, public organisations, multinational companies, banks, financial services companies, Web3 projects, and consultancies that handle personal documents and identification. “But it won’t stop there,” explains Javed Khattak, CFO, “we will be able to serve any client that needs to identify a unique person or object, real or virtual.” There are numerous examples as to how this could work – for example, in the event that a self-driving car fuels up at a charging station, both objects would be able to identify each other’s identity with the aim to pay for the transaction using the same ecosystem.
“The SSI industry and market is mostly untapped and continuously growing; we seek to introduce a plethora of benefits to the market, helping save billions worth of money while improving ‘security’ of personal credentials for individuals. cheqd aims to become the market leader in doing so and I believe, is already leading the pack,” Javed states.
Behind the company is a team that Javed describes as a ‘family’. He believes that prior to hiring, it’s important to ensure that the individual shares the same values and that they’ll be compatible with the existing internal culture. In addition, each team member should be both exceptional and passionate about their area of expertise. cheqd’s team meets the aforementioned criteria – the team share the collective goal to be a force for good in the world, and they are inspired to leave a positive legacy. Despite its global reach, there is a great effort to remain in contact and support each other.
The close-knit family feel comes as no surprise – with a team of empathetic, creative, and fun people, cheqd has cultivated an environment where individuals can thrive. Fraser Edwards, co-Founder and CEO, and Ankur Banerjee, co Founder and CTO of cheqd both agree that the company wouldn’t be the same without Javed.
Ankur shares, “Javed has absolutely been critical to the success of a young and ambitious startup like cheqd. From the very first conversation that we had, I saw that unlike everyone else we spoke to about coming onboard as CFO, Javed had a real passion for the blockchain space. Instead of just being nterested in the numbers and finances, I’ve always appreciated that he takes the time to understand the technology and product aspects and contributes meaningfully to building out our product roadmap.”
Fraser tells us, “I still consider ourselves at cheqd extremely lucky to have Javed as part of the team and still remember myself and my co-Founder, Ankur, being shocked by the quality of his application for a company so young as ours. Javed brings a unique and priceless combination of deep experience, endless imagination and focused pragmatism that mean we have achieved far, far more than we would have without him.”
With regards to the acceleration of the firm, Fraser adds, “The speed we have been able to execute with, $3.3m raised, product launch, over 60 partners, inside a year is a huge advert for his skillet. On a personal level, I already see Javed as someone who will be a lifelong friend, one of the many benefits I’ve had from cheqd.” Not only does Javed know how to improve the workplace – for the sake of people’s freedom and positivity – but he knows how to elevate a business, in line with goals, values, and ever-evolving dreams. Therefore, cheqd is not simply about numbers and finances, it is about friendship and exploration of goals for employers, employees, and clients.
Internally improving each service it offers, Javed guarantees cheqd’s technical strategies reach every layer of its clients business. Fraser shares, “It’s genuinely refreshing in this deeply complex space at the intersection of Web 3.0, digital identity, and privacy technology to see someone like him who also is keen on the ethical aspects of what freely-accessible digital identity can do in terms of improving financial inclusion.” A balance between financial security and growth, alongside human connection, is where businesses need to be. And Javed achieves this for his team with his expert knowledge and guiding hand.
All of these comments reflect the entire company overall, as Javed has led it to accomplishment time and time again. A significant portion of the company’s success can be attributed to Javed, who serves as cheqd’s Chief Financial Officer. Prior to his position at cheqd, Javed led businesses in a variety of capacities, including as a Founder, a CEO, CFO, and CTO. Throughout his career, he has established and still leads multiple successful businesses, such as Seerbytes, Zisk Properties, Zisk Investments, and Javed Khattak Consulting. His success in business has led Javed to sit as a Board Member and Advisor to several other companies, including regulated funds.
Moreover, Javed is a highly-skilled mathematician, who is a Fellow of the Institute and Faculty of Actuaries in the UK. He writes, “I truly believe maths is the mother of all sciences. In addition, I don’t like being confined to a particular role or a subject. And at times I have found the modern day world to be puzzled by it. But there are countless examples of polymaths throughout history who have helped change the world. While I don’t consider myself a genius, I certainly believe that polymaths make for better professionals and their cross-disciplinary exposure sparks creativity as well as offers them the ability to view a problem from several lenses.”
Within the business, Javed revels in his involvement in the different areas, as this allows him to gain a 360-degree view. As a result, he maintains a deep understanding of the challenges and problems and is equipped to use them to drive results-based outcomes. This is, in part, one of the reasons why Javed enjoys working with cheqd and its team. Both Fraser and Ankur welcome Javed’s drive and passion to be more than just a CFO for the project.
In essence, he has done it all – but his success over the years has come with many challenges. Throughout both his professional and personal life, Javed has used challenges to bolster his learning. “I don’t believe in shortcuts,” he says, “I have found that, often, doing the right thing is the most difficult of options available in a given situation. The higher the stakes, the more difficult it is. But over the long term, if you have the patience to persevere, it pays off in a big way!”
His approach to his role as CFO has made him a hit amongst his colleagues – Eduardo Hotta, the Head of Marketing and Community, testifies that Javed has contributed a great amount to structuring cheqd’s finances and navigating the company through unexplored blockchain regulatory waters. Eduardo continues, “through his impressive skills, he managed to decrease our burn rate and therefore increase our company’s runaway. Another important thing to mention is his contribution in shaping cheqd’s amazing work culture.”
It appears that for Javed that the work never ends – but this is the way he likes it. He is entirely devoted to his work and is excited about the future of cheqd, along with the ways in which he can contribute to its success. In 2022, cheqd is developing core identity functionalities, and helping its partners in bringing to life successful use cases within their industries. cheqd is in the process of adding a deeper integration for its network and token into the Cosmos and other blockchain ecosystems, which will help the company to further engage with the market. Furthermore, the company is exploring the emerging Web3 use cases, such as DEX ecosystems, DAOs, NFTs, Gaming, and DeFi applications, which it will leverage for its network strength.