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June 20, 2022

#010: The Dual Token Economy ft. Joel Clelland

One of the largest obstacles to the mass adoption of cryptocurrencies is price volatility.

In this episode we talk about solving price volatility in crypto markets using dual token systems with Joel Clelland. Joel is the CEO of Centric which is a dual token protocol working to stabilize price fluctuations and provide a global borderless medium of exchange.

Centric Rise:
Centric on Twitter: @CentricRise
Joel Clelland on Twitter: @RealClelland
Joel's YouTube Channel:
Transcript and Chapter Markers:

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Episode 10: The Dual Token Economy ft. Joel Clelland

Roy: You're listening to The MetaRoy podcast, and welcome to a brand new episode. This is your host, Roy, and every week on this show, we learn and unlearn about one aspect of the crypto world.

Now, we have seen that cryptocurrencies are rarely relied on for everyday transactions, possibly because they have so far been expensive, slow, and cumbersome to manage. 

But one of the largest obstacles in the mass adoption of cryptocurrencies is price volatility. In this episode, we are going to be talking about how we can build stable cryptocurrency systems. And to tell you all about it, we have Joel Clelland with us today. 

Joel is the CEO of Centric Foundation. Centric is a robust, decentralized, and protocol enforced solution to price stability. It's a dual token cryptocurrency system working to stabilize price fluctuations and to provide a global borderless medium of exchange. Joel brings to us an impressive track record of leadership in various industries and capacities, including finance, education, and the nonprofit sector. 

Prior to joining the Centric team, Joel built and led a successful sales and marketing practice in the insurance sector. Additionally, he serves as a board member and volunteer for Project Boon, a nonprofit based in Southern California. 

Joel, thank you so much for joining us, and I really appreciate you taking the time out for speaking to us today on this interview. 

Joel: I'm glad to be here, Roy. Thanks for having me on. 

Roy: And if you're new to this show, do subscribe and follow me on Apple Podcasts spotify pretty much every platform that you get your dose of podcasts on. 

Before we start, though, just a quick disclaimer. The following content is informational only, and none of it should be interpreted as financial advice, so please do your own due diligence before making any moves in the crypto space. With that out of the way, let's get started. 

Joel's Background

Roy: So, Joel, let's start with your story. What is your background and how you came about to being in the Web 3.0 space? 

Joel: Thank you again. And thanks, Roy, you and your listeners. Glad to be here today. A lot of times when people hear Web 3.0, they're not sure what that means. And if Web 1.0 was the first chapter of the Internet, Web 2.0 was when big tech started transacting in our data, and there was a lot of freedom, but there was also a lot of responsibility that kind of came along with that being accessing the World Wide Web across all platforms. 

In Web 3.0, one thing that I really like about it is that the users get a chance to really be in control. There's that possibility for us, and I think that is the most significant takeaway. If there's a takeaway about Web 3.0 is it's about community and building communities that have an ecosystem, that has a personality. And that was something that drove me to the Web 3.0 space originally was just community. I've been involved with communities for 30 years in different capacities. And when I first got into crypto, I noticed that cryptocurrency communities are very intense. They're very passionate about their cryptos. And that was something that attracted me initially, was the fact that it was a community of very creative people, for the most part, that were also very hungry for change in all the markets, not just the financial market. And that was what originally got me interested in crypto and web 3.0. 

Roy: Yeah, that makes perfect sense. Was Centric your first Web 3.0 project, or did you start with something else and then you moved on to Centric?

Joel:  Well, Centric was the first project that I worked with, and Centric is the only crypto project that I've ever worked with. Obviously, it wasn't the first project I invested in, but once I started investing in Centric and became acquainted with Centric’s community, I knew I'd found something special. 

How Centric is bringing price stability to crypto markets?

Roy: So crypto markets are really fluctuating, and there's a lot of price volatility. How do you see Centric solving that particular problem? 

Joel: One of the things that we're really focused on is Centric is solving price volatility. We think that it's the greatest… I think you mentioned that earlier it's one of the greatest challenges to adoption, is price volatility. When most people look at crypto, they think, what is crypto? That's their first question. I'm sure you've got that question as well, Roy. And I always simplify. It's digital money you keep in a digital wallet. That's it. It's digital money you store in a digital wallet. And if it's money, we should be able to transact with it. Yes, we should be able to pay with it. But up to this point, most cryptocurrencies have been so volatile that they don't make a great medium of exchange. 

What Centric is working to do using two tokens is stabilize price by design. And one of the mechanisms, if you will, is one of the ways that the crypto market has initially tried to stabilize prices by issuing asset backed cryptocurrencies or stable coins. And these are cryptos that are actually backed by something else. Maybe they're backed by fiat currency. Maybe they're backed by other cryptocurrencies or some other asset. 

And the way Centric is kind of changing that model a little bit, using the two tokens is we have one token that's traded and one token that's not traded. And the token that's traded is designed to eventually stabilize and be a dollar. So it wouldn't be asset backed. It would be a cryptocurrency that's worth a dollar. The second token in the network isn't designed for trading, and it provides hourly yields. And what is it yielding every hour? It's yielding more of that traded token every single hour. And sometimes people ask, is that ever going to end? The answer is no, it's never going to end. It's always going to be yielding more of that trade token. Now is it going to yield at the pace that it's yielding right now, forever? No. 

If people were to study centric protocol. They'd see that right now we've got a fairly high APY that in-network token, Centric Rise is actually yielding north of 200% a year. Right now it's at 13% just for this month. And obviously that's not going to continue forever. But during this adoption phase, these early adopters will say is success favors early adopters. 

Roy: Right. 

Joel: The one thing that those of us that have been in Centric since the beginning of the two token system as we've been enjoying those high yields, but what we believe is going to happen over time is those two tokens together eventually going to balance out price. Because there is that in-network token that has a fixed yield. It's not going to be impacted by trading. 

And then the trade token, after all of the hard work of the team and the community and getting the word out about Centric swap is going to get adoption and get its price discovery, we believe that's going to happen. How is that going to happen? Obviously, inside the protocol, there's something we can't forget to talk about, and that's the burn. 

So the main burn in the protocol is happening every hour. So along with the hourly yield of centric risers, an hourly burn. So a certain portion of that in network token is burned away every hour, thereby creating some scarcity in the protocol. And we believe what's going to happen over time is there's two things that are going to happen is supply and demand for Centric Swap is going to hit its popularity point and its point of equilibrium, which is around one dollars USD and then in the network, because CNR is becoming more scarce every hour, less of that CNS will be produced every hour as well. So we think that's going to create a stabilizing effect not just in the protocol but also in the market. 

Dual token system in Centric and how is it different from Stablecoins

Roy: That is the dual token system that you are talking about, right? That's correct. So how is it different from a stablecoin in the sense that how does it overall improve the price stability of crypto markets? 

Joel: Right. And Roy, you're absolutely right using the word stablecoin, because in our documents, we even talk about synthetic stablecoin. We say that what we're doing is we're creating the conditions for a synthetic stablecoin. And what would differentiate a synthetic stable coin from a traditional stable coin is that traditional stablecoins are asset-backed to one degree or another. And so like traditional stable coins, like a Tether or USDC or something like that, it's a dollar or some other fiat currency is deposited and then out has issued a stablecoin or some equivalent to that fiat. It could be other cryptocurrencies. There are some asset backed cryptos that are backed by Bitcoin, for instance, things of that nature. 

But Centric is capitalized only by itself. So the entire protocol, the entire network is only capitalized by the liquidity that's poured into the network by users purchasing centric swap CNS from exchanges and DEXes. And then, obviously, when the users understand that there's this second token, they want to access it for those hourly yields, especially if their intention is to hold. We never want to discourage people from trading CNS. We know a lot of traders are using Centric Swap for trading. That said, most of the people who are looking to invest in Centric are looking to do that for the long term by accessing Centric Swap CNS, bringing it into the network and converting to Centric Rise CNR for the hourly yields. 

And so that's what makes it truly unique, makes it different. It's not backed by fiat, it's not backed by Bitcoin or anything like that. It's backed by the faith of the network and the liquidity, or rather volume that comes into the network by people who want to access Centric. And so Centric is truly capitalized by itself when at that point in the future, we don't know what that is because CNS, its price is determined by the market, just like every crypto. We don't know when it's going to hit that equilibrium point that we were talking about. But we like the flexibility of it. I think that's something that drew me to the network. This is before I even worked for Centric. 

One of the things I really liked about the network is that the network doesn't lock up your tokens in order for people to access the rewards or the yields. Our tokens are never locked up. Now, are there platforms where you can stake Centric Rise? Yes, but in the protocol itself, the users have the ability to move in and out of the network on demand. So I like that flexibility. I think that's good for the users of the network to have access to that. They should always have that autonomy. 

Keeping liquidity intact while preserving yields

Roy: Absolutely. And I think one of the main challenges that people have is that liquidity is stuck in some protocol or they have staked their ethereum and it's just stuck there. Right. So I love how centric is actually helping preserve the liquidity while still working on the yields part of it. So I think that's a great solution. 

Joel: Yeah, I think we're very conservative protocol. To say that in crypto, I think, is a hard thing to say. Absolutely. This is a very exciting and progressive space. But we're really focused on making the money play or the currency play, as a global borderless currency. That's really where we're focused on. We're focused on being transactional. Money is also a store of value. So we're focused on that component as an investment. 

And we just like you, Roy. I love the fact that you want to educate people and keep it fun. Fun and interesting. Right. Because there's a lot of learning that goes into this. I mean, at the outset I said, Yeah, let's simplify it. What's crypto? It's digital money you store in a digital wallet. After that, it's kind of up to the individual to decide what crypto is going to mean to them. Are they going to use it for transactions? Are they going to use it as investment or some other use? 

Roy: Absolutely. Thank you. Yeah, I think that is what we strive for, just to make it easier and simpler for people to understand. And it should not come across as a technical blog or something like that. 

Joel: Which is right. I think that's when we lose people sometimes. 

Roy: Exactly. And I am learning myself, I am hearing it from experts like you who are actually working in this space. And it's obviously a great learning experience for me as well. 

Difference between Terra Luna's Protocol and Centric's Protocol

Roy: So I think my next question is fairly obvious. One, a lot of our listeners have been asking this question about Terra Luna and how this has been like an attack on it. And it's literally nothing short of an attack of massive proportions as well. And a lot of new people in this space have been actually first seeing a bear market, then Terra Luna crash. They have been very skeptical about this. 

Joel: Yeah. They're waiting for things to kind of get back to some sense of normal or get back in the green. More green candles, please. More green candles. Yeah, I get it. 

Roy: But since even yours is a dual token currency system somewhat similar, I'm not sure about the exact similarities. How do you explain that, let's say to a novice investor, how do you explain this difference between Terra Luna protocol and your protocol? 

Joel: Understand, though, that when I mentioned Bitcoin earlier, Terra Luna does have bitcoin in the reserves, and that's not the approach we're taking. I mean, there's a number of dual token projects out there and everybody's doing things a little bit differently. And I've analyzed a lot of them, not just UST. Luna but it's fascinating to me to see, like, just the creativity in the space, how many projects are trying to do different things, whatever it is, make entertainment in the music space better and more efficient. 

Over here you've got the DeFi, which is this open concept, and it's like, okay, what's that going to look like? The future of banking, the future of insurance, the future of anything related to money gambling. Let's face it, I mean, the casino scene online, over 50% of pretty much all crypto use online is wrapped up at casinos. It's fascinating to me because I look at every project that's out there that's kind of similar to us, but then I noticed that even they're different than we are. And it's fascinating to me. 

We've got two mechanisms in our protocol that I think are very different. One is that we have that in-network token centric rise that isn't designed to be traded. We don't have a true USD stable coin in our protocol. We've got CNS, which is designed to eventually stabilize at that price. So those two mechanisms are very different. So in a sense. Whereas a project like that has two tokens that are technically traded and accessible on exchanges. Centric Rise will never be put on an exchange, not by Centric Foundation anyway, because it's not designed for that. It's not designed to be speculative. Does that make sense? 

Roy: Correct. From what I gathered from this conversation was Terra Luna is obviously backed by digital assets such as Bitcoin itself, while Centric’s protocol is governed by the market and governed by the amount of investors investing in Centric directly, rather than being dependent on a different digital asset like Bitcoin, for example. Is my understanding correct? 

Building a Payments Ecosystem

Joel: No, that's a great way to put it. And the one thing that I would probably just add to that is I can't speak to every project, but I can speak to what Centric is doing is we are really focused on building a huge ecosystem and Dapps, traditional businesses and things like that. And so for us, we're always looking for integration where we can add value, because what happens is that drives the value of the network as well. 

One of our partners is a cryptocurrency payment gateway, Now Payments. And you might be familiar with Now Payments, I don't know, but Now Payments allows cryptocurrencies to integrate with Now Payments so that users can pay for traditional goods and services all over the world. And we've been getting a lot of positive feedback with that because people want to be able to use their crypto, and there's a segment that just wants to use it for trading or they use it, like I said, for gaming or what have you. But whether it's an investment or transactional money, being able to have that flexibility, I think is really important. 

Why should developers build on Centric's Ecosystem?

Roy: Right. I think there have been a lot of Indian developers in our listener base as well who have been building on Ethereum. So this is your pitch, this is your time for you to actually ask them to actually move to your platform. 

Joel: Yeah, well, Centric is on the Binance Smart Chain, we're really happy to be on the BSC. There's a lot of I wouldn't say it's collegial because there's still a lot of competition, but there's a lot of possibility for partnerships on the BSC. And if a project is relatively new, or let's say they're in the NFT side of things, there are a lot of platforms that have NFT compatibility, and we've got some platforms on the BSC that are pretty good. But it's good, it's fast. I mean, one of the reasons we're here is because it's cheaper than Ethereum, not to disparage Ethereum, even a little bit. They've done a lot of good work over there, but it's not the only place in town for crypto, which is nice. 

Roy: Absolutely. I think there is enough space for us to all develop in crypto rather than focusing on a particular blockchain or a particular protocol. 

Roadmap and Use cases of Centric

Roy: What are some of the other use cases that you see Centric being used for? What are some of the main industries that Centric will be used for 

Joel: Sure. When we were talking about blockchains. I don't know if you had a chance to look at our roadmap, Roy, but having a native blockchain is definitely in our future. It's something that we want to develop at some point. It's not a major focus right now, but having a native blockchain, that's definitely in the future. The concept of Centric centers, I don't know if you had a chance to look at that. 

One of the things, like I said about Centric is we're really focused on the money play or being a currency and everything that's wrapped up in that. So I would consider Centric a DeFi project. We're definitely on the financial side of this market. There are a lot of projects that are on the creative side or the gaming side, things like that. It's not that Centric isn't going to be involved with those to one degree or another, but we're really focused on being money and being transactional. 

And financial services is changing all over the world and there are a lot of things in traditional finance that are going to remain the same. But one of the things that's great about crypto is it allows people from all walks of life to access money and access financial services. And I'm in a lot of conversations about that. And so Centric Centers would be our concept for the future of banking and traditional services using blockchain enabling technologies and investments and things like that. So we have the Centric Centers piece, we have the native blockchain as well as our growing ecosystem. 

Centric Business Services

Joel: And then the other part I would probably convey to you and your listeners, Roy, is something that we're working on now and have been for over a year is expanding Centric Business Services. That's really where we've been doing most of our work probably since well around this time last year. Actually. Like I mentioned, Now Payments earlier, where we're getting integrated with payment gateways. We also got integrated with Now Coin payments and my crypto checkout also payment gateways. 

Several dozen companies globally that are accepting Centric for goods and services. Most of them are only accepting CNS. But a number of companies are accepting both of our tokens, CNS and CNR, which is kind of nice for our community because our community sees the value in CNR and so do these businesses. And some of these businesses are actually receiving CNS and converting to CNR or holding Centric Rise CNR on their balance sheets because they believe in the future of our network. And one thing that's great for business services and this is something that I share all the time with people who are business owners is don't miss out on crypto paying customers. There's an entire market of people who want to pay in crypto. They want your goods and services, but they want to pay for it in crypto. And that's a market that's going to grow a lot over the next five years. 

One statistic I saw from Brandes and Market research is that it's going to be about 22.8% a year, that market of crypto paying customers. And so that's really a focus for Centric is we're going to continue to expand that. I think we're only getting started. I'm very excited. We've got a lot of things in the pipeline that we're working on new projects, but those are the three areas I would say, that are major use cases for us is the native blockchain, Centric Centers and Centric Business Services. But in addition to that, just access across the board for users of all ages. 

One of the things I'm sure you've seen this, Roy, the older generation isn't as much into crypto as the younger generation, but Gen Z, Alpha, the younger kids, they're going to be very much into crypto, very comfortable with it, and they're stepping into a gamified world, if you will, where they want what they want just like we do. Everybody wants what they want and we need money to get it. Yes. And so crypto is just another form of money for us to get what we want. And that's what Centric really focuses on is being transactional, being that next gen money, if you will, that's global and borderless and nimble and intuitive and easy to use and easy to access. 

Centric's Crypto Donations

Roy: Awesome. I think you have a solid roadmap, actually went through it and you have covered a lot of it already. But I also saw that you are working with crypto donations as a strategic partnership. It's a nonprofit organization which is making the world a better place. Correct? I saw that as well. 

Joel: Yeah, it's funny that you brought up crypto donations because when I was originally being spoken with about coming to board at Centric last, it was about a year and a half ago, almost, it'll be two years in the fall since the Centric leadership team and I started talking and working together. And when we initially talked, we were talking about Crypto donations, we were talking about the philanthropic work of Centric and having me maybe be a consultant, if you will, forcentric, and it's charity work, but that's a really neat entity. It's an organization that we've been working with since late 2021. And there's a number of nonprofits that have already decided that they want to work with crypto donations. 

And we see their platform, their platform is going to probably go live at some point, we're not sure yet, but they are talking with a lot of nonprofits. And that's great because that's like another leverage point in my opinion. That's another point where the market can see, okay, Centric is an investment, Centrics money, but they're also like, they've got a holistic approach, if you will. 

So I think Centric has a holistic approach. We're looking to make sure that across the board, we've got things dialed in, everything from our business outlook and forecasting to what we're doing day to day and week to week and month to month and year to year. And then obviously, that philanthropic piece, we don't want to forget about it. It's nice to have crypto donations there because they're a great partner and it's going to be a great organization in the future. 

Centric's Vision for Future of Local Banking

Roy: Absolutely. I hope so. And another thing that I noticed on your roadmap was that you had a vision to reveal for the future of local banking as well. So can you talk about that? What is that vision? 

Joel: Yeah, I was kind of mentioning Centric Business just a little bit, and I would say Centric Centers is one side of that future banking concept. I've been in a lot of conversations over the last few months about open banking, Web 3.0 banking or Web 3.0 era banking. And because users are changing, and especially with the Pandemic, we saw that we needed to be able to do a lot of things. Virtually. You and I are virtual right now as we record this interview. People are going to want more and more opportunity at their fingertips. If you can't do it on a phone or if you can't do it on your computer or your tablet or something like that, or your smart glasses or your smartwatch, or whatever it happens to be, people are going to go where the access is. 

So if we want crypto to be accessible for everybody at every time, we also want to have those services which, whatever they are, top to bottom, back to front banking and traditional services available at any time. One of the things I think has been difficult for a lot of users, especially the younger users, is coming into crypto is they see the traditional world. And the traditional world is only open Monday through Friday. Right. And crypto is open 24/7. You can get on crypto exchanges, get on DEXes anytime of the day or night, every day of the week, 365. And we believe, et cetera, that future of banking and anything you use money for should be available all the time for everybody. 

Roy: Absolutely. 

Joel: I think with AI and the expanse of AI and a number of things are just going to make a lot of these things possible. And I think a lot of us that are paying attention, we're getting excited, but everybody else is going to be very surprised over the next two to ten years, I would say. I'd say even the next five to ten years are going to be really exciting in Web 3.0. 

How does Joel wear so many hats?

Roy: Absolutely. And I love how you're not just focused on one thing, but you're actually expanding into multiple things. You have centric business going on. You have building centric centers. You are actually focusing on the vision for local banking. You also have a responsibility of bringing developers onto the Centric protocol as well. 

Joel: Right. 

Roy: So how do you manage all these things, which is your priority area for now. 

Joel: It's not just me. Isn't that nice? It's not just me. If it was just me, I probably wouldn't be on the phone with you right now or on this call. I've got an amazing team. We're a global team. My C-suite is really just top notch. Actually four members of our team. We were on Twitter spaces, are you familiar? Spaces, yes, two weeks ago with a gentleman named Shill Me. And we actually had four of us on. You just have me today. But he had four members of our team on. Just really smart people, very well versed in Web 3.0. 

But the other thing that I really like about our team is they come from a lot of different walks of life and we've got men and women young and not so young like me. And just across the board we've got people in a number of different countries. And the nice thing is that when something maybe there's a note issue on this chain over here or there's something over here or customer service this or customer service that, most of that doesn't trickle through me, but I see it on my team and my team is executing. And so the one thing I really love about the Centric team is not just how dedicated they are and committed to excellence, but they really know what they're doing and they're intelligent and intuitive and they do the best that they can to make the right choices every day of the week, and that includes the weekends. 

So, I mean, because crypto is 24/7. So are we. Do members of our team need to take a break now and again? Yes. Did they get to take vacations? Absolutely. But we're always open for business and we're always open to connecting with our community. And I'd say that's the other extension of our team. We have a lot of community members that are very involved with Centric. They're not just bullish on Centric on social media, they're supporting the community and the development of the project across the board. 

Regulatory Framework for Centric

Roy: Absolutely. One of the things that I saw in your roadmap in the future was you are building a regulatory portal for financial regulators to understand what Centric is and how they can adhere to the highest regulatory standard. So you want to talk about how you're building that? 

Joel: Sure. So that's still very much conceptual. Roy, just so you know, that's going to be a huge undertaking. And at the moment I'd say like if we had top crypto exchanges up here, that governing board is probably down here. So that will probably come after our native blockchain. That's how far away that is because that's going to take a lot of resources and a lot of bandwidth. And at the moment our resources are really focused on central business and exchange listings and partnerships. But that's definitely going to happen.

And the nice thing is that we've got some advisors at Centric, as well as some members of our team that are in the C-suite that I believe are going to be excellent candidates, not just for that governing body, but also to help us find those key people. Because one of the things we're always looking for at Centric is people who are wise and thoughtful, have integrity, but at the same time also have that access. You know, I've used the word access quite a bit during this interview. Access for people, for users, end users, people do to crypto. 

But then people who are affiliated with Centric should have access to power players outside of Centric that we can leverage. And I think that there's probably going to be a voluminous whitepaper for just about that part of the roadmap that you just discussed, because that's going to be like its own little panel, if you will. It's going to be very involved. But yeah, it's going to take a long time to build that out. But is that like in the immediate roadmap? Not right now, yeah, but these other three items, like I said, Centric Business, the native blockchain, is actually probably going to happen before the governing body, but additional exchange listings and then just integration with partnerships. And those are our three top focuses right now. 

Roy: Got it. I actually was following the XRP case as well. And you know how regulators have not been understanding crypto so well as people actually in crypto? That's what got me very interested that you have already envisioned that you will be building this in the future for regulators to understand. So that is really interesting. 

Joel: We have to yeah, absolutely. Yeah. I'm based in the United States. We've got offices in the UK, Singapore. We have team members in a few countries throughout the world. But back in March of 2022, the Biden administration put out an executive order on digital assets in cryptocurrency, and the top governing bodies in the world are talking about it. And what will regulation look like? What will the guardrails look like? 

Obviously, we want sensible consumer protections. That's very important. But just governing the future of a project, there's a lot involved with that. And obviously the founders of Centric have a particular vision. And it's my vision, it's our team's vision, and anybody that would be in a governing body like that would need to share that vision. 

Roy: Absolutely. 

What does Joel like to do in his free time?

Roy: I actually have a personal question for you, Joel. 

Joel: Sure. 

Roy: What do you actually do in your free time? If I told you have some free time, what do you like to do in your personal life? 

Joel: Well, tomorrow begins a weekend, and I'm actually going to be taking a day and spending it with my family tomorrow. So that'll be good. I spend a lot of time outdoors. I take a lot of walks. I tell people I'm an urban hiker because I live in the city, so I like to hike around. I'm a firm believer. Use it or lose it. I was talking with a gentleman I bumped into on one of my walks earlier this week, and he's actually about 20 years older than me and he has diabetes, but he's got in check. He's doing what he's supposed to do. And I said, Yeah, move it or lose it. That's what I said. That's why we're walking. He's all, Yeah, I have to or I'll die. That's what he said. That's what he said. 

One of the things I try to do is stay active and stay connected with people, obviously spend time with my family and then I have a background as a musician, so when I have a chance, I sit down at the piano and play for five or ten minutes in between everything else. 

Roy: That's really nice. I play the guitar myself. 

Joel: Oh, great. I'll love the guitar. You know what the guitar is? The guitar is a mobile piano. Take it with you. 

Roy: Yeah, absolutely. I'm still learning it. I don't claim to be an expert on it. 

Joel: We use the word enthusiast. You're a guitar enthusiast? 

Roy: Absolutely.

Closing Thoughts

Roy: Joel, that's all the questions I had for you. Thank you so much for joining us on this interview. I especially love how simple you made it for us to understand these concepts. And it's great to see you at the helm of Centric and its vision, which is heading in the right direction, obviously. So thank you for sharing this insights and I really wish you all the best. 

Joel: Thank you. 

Roy: People who want to follow Joel's YouTube channel, links are in the description below. He talks about crypto and how the Centric protocol is actually helping advance the crypto space. So you can also also connect with Joel on social media. Links are again in the description below. On that note, thank you, Joel. Thank you so much for joining with us today, and I wish you all the best. 

Joel: You too, Roy. Thanks for having me on. Bye.

Joel Clelland Profile Photo

Joel Clelland

CEO of Centric Foundation

Joel Clelland has been serving as Centric's Chief Executive Officer since March 2021. Centric is a dual token cryptocurrency system working to stabilize price and provide a global borderless medium of exchange that only goes up in purchasing power. Since coming aboard, Joel and his team have added a number of new exchanges and partnerships, as well as a credit card and debit card on ramp (not available in all countries) and three cryptocurrency payment gateways (i.e. MyCryptoCheckout, Coin Payments, and Now Payments). Centric users can pay with Centric tokens (spec. Centric Swap "CNS") using the payment gateways and the merchants can get paid out in crypto or whatever their local currency happens to be. Learn more about the Centric Payment Network and connect with the team by visiting
Joel brings an impressive track record of leadership in various industries and capacities, including finance, education, and the nonprofit / philanthropic sector. Prior to joining the Centric team, Joel built and led a successful sales and marketing practice in the insurance sector. Additionally, he serves as a board member and volunteer for Project Boon, a nonprofit based in Southern California. Joel initially discovered Centric as an independent investor, introducing a unique perspective to the executive team. Joel emphasizes investor education and engagement, strategic partnerships, and market cap growth as key components to expedite protocol consensus.