From Artificial Intelligence to Crypto Assets: Serial Entrepreneur Aki Balogh's New Journey

Aki Balogh is a serial entrepreneur who founded the AI-driven marketing company MarketMuse. In 2023, he started another venture, focusing on creating a decentralized and secure DeFi solution based on Bitcoin called dlcBTC. Aki's entrepreneurial journey stems from his scientific family background. Born in Hungary, his father is a nanotechnology expert, and the family moved to Boston in 1991.

According to Aki, his entrepreneurial spirit began as a child, when he sold bubble gum at school and planted the seeds of entrepreneurship. In 2011, Aki joined a Boston-based venture capital firm and developed a strong interest in big data, AI, and machine learning. In 2013, he started his first business, combining AI and marketing, to create a company that optimizes SEO content, which quickly gained market recognition.

Despite the explosive growth of AI in recent years, Aki does not regret turning to the Crypto Assets field. He stated: "Both have their own charm, but in my opinion, the decentralized nature of Crypto Assets makes me more interested in exploring. I no longer need to rely on the computing resources provided by those large companies, but can innovate in a more open and fair environment."

As an early AI practitioner, Aki admitted that he has invested a lot of energy in the AI field, but he gradually feels that the AI market is becoming increasingly concentrated and monopolized, especially with large companies' tightening control over computing resources and data. In contrast, the decentralized nature of Crypto Assets has attracted his attention. In his view, the Crypto Assets market offers more opportunities for entrepreneurs because it does not have the resource monopoly like AI.

The dlcBTC founded by Aki is based on this decentralized concept. dlcBTC addresses the centralization risks brought about by the use of a single custodian and bridging technology in the current market by utilizing self-custody technology on the Bitcoin blockchain. Aki pointed out that this technology not only enhances the security of Bitcoin in DeFi but also provides institutional investors with a more reliable Bitcoin liquidity solution.

In the journey of entrepreneurship, acquiring funds and resources is often seen as the key to success. However, Aki deeply understands that the mindset of entrepreneurs is fundamentally different from that of investors. He points out that some entrepreneurs view their company as a business, while others see it as a mission, which means they are pursuing not just profitability, but also pushing the boundaries of technology and the pace of innovation.

Aki believes that acquiring funds is not the only factor. He shared that in the early stages of his first two companies, he raised almost no funds, instead relying on consulting projects and grants to support research and development. This approach allowed him to focus on validating business ideas and customer needs without external pressure.

As an entrepreneur, Aki emphasizes that the primary task is to create value for customers. He understands that investors focus on financial returns, but he values customer success and long-term business sustainability more. In his view, repeat purchases from customers are the cornerstone of a company's success; therefore, when making decisions, he often prioritizes how to provide better services to customers, even if it means making some choices in the short term that may not be recognized by investors.

When discussing the goals of dlcBTC, Aki expressed his desire to build a safer asset wrapping mechanism that would allow Bitcoin users to engage in investment and lending without traditional risks. In this way, he hopes to enable more Bitcoin to be safely used for investment, ultimately leading to broader financial applications.

For young entrepreneurs, Aki's advice is: "Keep an open mind, try different fields, and don't be too fixated on a single path, because future opportunities often come unexpectedly."