🤷 Opinions Cyril Gilson

Cryptodiplomat: Sweden is the Next Country Where Enthusiasts Will be Doing Their Crypto Business

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The standard IPO could be done faster and cheaper with all the benefits of ICO: George #Cryptodiplomat Paliani
Cryptodiplomat: Sweden is the Next Country Where Enthusiasts Will be Doing Their Crypto Business

 

 

George #Cryptodiplomat Paliani is a private Blockchain consultant, advisor for several startups and speaker in many international conferences.

A former diplomat, he’s advising Zeus.exchange and Swiss Smart Valley and has his own crypto channel called Crypto Diplomat. We speak with Mr. Paliani about the future of ICOs, why they happen to fail or succeed.

CG: The ICO is becoming more like VC financing and of course VC financing also learn from ICOs, so these two currents are merging in a way. Also, one can notice that ICOs are becoming more and more expensive, so what do you think of the future of ICO at all? Would the whole approach be replaced by something else, some other type of tokenization?

GP: To my mind, there is going to be some kind of a collision, cooperation. Right now big companies are watching small startups closing their ICOs and raising funds in a more efficient and easy, fast way. Getting $10 mln in 10 seconds is not a joke right now– it is the new reality.

I am not going to argue with the fact that maybe there are only VCs mainly investing in ICOs and this new ICO wave is turning into a classical market one. ICO and IPO could be done in a hybrid way like a digitalized IPO or something similar. From my point of view, this is the nearest future, we will see that happening in just two to three years.

The standard IPO could be done in a faster, cheaper, and, what is important, legal way with the use of all the benefits that ICO has.

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CG: But that would render ICOs useless if the IPOs take over in such a way.

GP: I wouldn’t say that the ICO will become useless. This could show us the third path, just as Sweden had its own original way between communism, socialism and capitalism.

The same goes here: it could be a whole new option. We have ICO from the one side, IPO from the other, and there is a third way- collaboration between these two worlds, the crypto and the classical financial one. Still, I wouldn’t say the ICO will become useless.

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CG: But one of the issues with ICOs, of course, is lack of accountability before investors. So what are the ways of solving these problems? Some talk of smart money or community regulation when the community has the world, or what is your take?

GP: I think the main question you are posing here is the lack of trust, lack of escrow and some fundamentals that are in the process of building. We see this right now at the conference, in different countries and legislations, companies, etc. It is just a matter of time, first of all. The second thing is that there are already some platforms addressing these problems.

Let’s take the Smart Valley team as an example. What they do is selecting the most perspective startups and filtering off scam by getting the opinion of experienced investors and qualified business experts, checking with their analysts, gathering the information from all the accessible sources, and, finally, using so-called ‘wisdom of the crowd’. Everything is being done transparently on the platform built on Blockchain. Thus the lack of trust fades away.

It is just one of the solutions, though. Other guys are doing something like a community based on trust and a public Blockchain where people vote for ICOs. Well, it is a more complicated product, but could be an extra option too.

These institutions are forming right now, and everything is being structured. The crypto market itself is currently at the stage of formation.

Some governments are facilitating this process, others are just overcomplicating it because they cannot figure out what is Bitcoin, ICO, or whatever else that is dedicated to the cryptocurrencies. This all is just a matter of time, believe me.

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CG: Another reason why ICOs fail is the internal fighting. Take the case of Tezos where the foundation and the owners of the code are at odds. What can be done with it?  

GP: Nobody can be 100 percent sure that money gathered from an ICO will be distributed or managed properly.

Here is a nice Swiss example- they have a financial regulatory body which is now creating a protocol for crypto sphere and ICOs that says that after submitting and signing a certain plan it should be realized- this reminds me the core idea of smart contracts, by the way. Abu Dhabi is moving in the same direction in the regulatory aspect.

I can give you several examples of big businesses that also had such problems with the owners, investors or founders. We can recall the case of Facebook, when Mr. Zuckerberg thought he would be the only owner of the idea and later he got all those lawsuits from Winklevoss brothers. He had many more problems, but, well, that guy survived.

The main idea I wanted to share is that you cannot be 100 percent confident that any business, be it an ICO or the one functioning on the classical market will be 100 percent secure and that your investments will be safe. You know, it is business, after all. But, some people say that if you are buying Bitcoin, it is already an investment. Basically, if you are keeping some of your money in euros, this is also a type of risk hedging, it just depends on the approach you choose.  

You will probably agree that a multiple signature wallet gives you a really nice opportunity to gain more security as an investor. This way cryptocurrency funds cannot be spent with only one man’s decision. But, of course, there are pros and cons here as well.

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CG: But if they are locked, no one can use them.

GP: I understand this, but still, for instance, let’s talk about the corporate structure, but with Blockchain, so that any decision made by the CEO or any member of the board of directors is kept transparent and cannot be approved by CEO’s signature alone. Basically, this gives us a more secure way of building a new era- era of trust, possibilities and businesses where everything is 100 percent transparent and secure. Don’t you think it sounds really good? We are all living in that exact transition period right now.

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CG: I think these problems arise because of the whole crypto industry is still under-regulated. That’s why it lacks trust and it lacks the ways of enforcement. Besides of how can we make people share the tokens properly even if in the eyes of law enforcement they don’t exist, or they exist as some strange thing, they still have a problem to deal with. But if governments will be persuaded to introduce some really strict regulations that would kill the whole idea. Or you don’t think that this perspective is possible?

GP: Frankly speaking, I am moved by the idea of anarchy inspired by a concept of free will. Although, as a guy who has studied at Humboldt University in Berlin and lived in Germany for a long time, I like everything being structured, planned and regulated. So, to my mind, there has to be decent regulation, because we cannot live in a society where business grows without any rules or laws.

My favorite concepts include balance and opportunities. As does, for example, the idea of American capitalism where a state gives you the rules and if you abide by them, everything is fine. It may not be the best example in the cryptocurrency sphere, but Switzerland, Japan or Singapore, maybe Gibraltar, Malta and Lichtenstein are good examples of countries for doing crypto business.

I think there is a high potential in Sweden. Sweden is moving towards crypto sphere at a fast pace- they are studying the experience of other governments. There is a nice guy from Swedish Parliament named Mathias Sundin who is moving the crypto idea and Blockchain business forward in a progressive manner. Sweden is the next country that young enthusiasts will be doing their crypto business. Mark my words.

CG: Well, we all hope that normal governments will find a way to thread between these two paths very unpleasant for us.

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Investor Ari Paul Calls Out Cryptocurrency TRON For Plagiarism, Exaggeration of Network Size

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Prominent analyst and investor Ari Paul criticizes TRON for plagiarizing the white paper of Filecoin and IPFS, and doubts of its network existence.
Investor Ari Paul Calls Out Cryptocurrency TRON For Plagiarism, Exaggeration of Network Size

Prominent analyst and investor Ari Paul, who co-founded cryptocurrency investment firm Blocktower with former Goldman Sachs executive Matthew Goetz, publicly criticized TRON for plagiarizing the white paper of Filecoin and IPFS and condemned its non-existent network.

TRON and IPFS Conflict

A few months ago, TRON was involved in a scandal that accused the organization of plagiarizing the white paper of Filecoin and IPFS. Juan Benet, one of the founders and developers of both IPFS and Filecoin, revealed that Tron employed technologies invented by the two Blockchain projects, and described them as its own technology on its white paper.

Although the white paper has since been taken down by the TRON development team, Benet and the Filecoin team archived the white paper of TRON in the server of the IPFS network to ensure that the community can access the TRON white paper that has allegedly plagiarized the whitepaper of IPFS and Filecoin.

The cryptocurrency community is open-source so projects often are inspired by the technologies developed by other development teams. For instance, Litecoin has integrated Bitcoin’s Segregated Witness (SegWit) for scaling, and the Ethereum development community has been collaborating with the Zcash team to employ the private features of the Zcash network.

But Ari Paul and Benet noted that it is unreasonable to utilize the technologies of other projects without credit and list them on a whitepaper. One of the sections of TRON’s whitepaper is called Bitswap, and it reads:

BitSwap is a block transmission agreement similar to BitTorrent—where nodes represent the expected block set with want_list, and represent the data block set they can provide with have_list. Unlike BitTorrent, block swapped by BitSwap is not limited to a single torrent.

A section entitled Bitswap on the whitepaper of IPFS, which was released before Tron, reads:

In IPFS, data distribution happens by exchanging blocks with peers using a BitTorrent inspired protocol: BitSwap. Like BitTorrent, BitSwap peers are looking to acquire a set of blocks (want_list), and have another set of blocks to offer in exchange (have_list).

The Bitswap section on both whitepapers evidently have significant similarities, and it is also important to note that the white paper of TRON listed a section called “Bitswap,” which is almost identical to the section of the white paper of IFPS.

Paul’s Criticism

Paul publicly condemned TRON’s continous marketing of its Blockchain network that utilizes the core technologies of other Blockchain projects. Referring to TRON’s network that exists on the Ethereum network as an ERC20 token project, Paul stated:

Did you mean the new filecoin or bitswap @justinsuntron? I thought the TRX paper copied those. Also...Tron doesn't actually *exist* as a network...to be the next Bitcoin you first need to produce...ya know, a network. https://t.co/2r1XFTd2gy

— Ari Paul (@AriDavidPaul) March 25, 2018

The TRON network also claims that it has more than 30 mln users located in more than 100 countries. But, even Bitcoin has less than 60 mln users, at least on wallets like Coinbase and Blockchain.

TRON’s Blockchain is ambiguous and the business model includes services like social media and content distribution. But to claim without evidence that it has more than 30 mln users which is more than Ethereum’s  and all of the tokens combined is simply unsound.

While TRON may have 30 mln users, it is unlikely that the 30 mln users are native users of its network.

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Crypto Wallet Users are on the Rise: Numbers Approaching 30 Million Globally

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The number of crypto wallet users has increased almost tenfold since 2015
Crypto Wallet Users are on the Rise: Numbers Approaching 30 Million Globally

 

Nowadays, crypto wallets are an integral part of crypto ownership and trading: naturally, one must have a secure place to keep one’s valuable digital belongings.

Whereas not long ago, wallets were somewhat of a rare occurrence, they have since grown in numbers. Substantially.

The graph below shows the situation, past and present, between 2015 and today:

Graph. Number of Crypto Wallet Users Worldwide

After a timid start with ~3 to ~4.5 million users in 2015, the first quarter of 2016 started to approach 7 million users globally, followed by ~11 million users in the last quarter of that year.  

Last year’s first quarter saw a promising start with almost 13 million crypto wallet users, followed by almost twice as much, ~21.5 million, 9 months later, as the year came to a close.

2018 began with the first quarter’s figure reaching for ~24 million, gradually climbing further up to almost 30 million crypto wallet users the world over that we have today.

We hope you found this information useful. Be sure to also check out:

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Linda Zeilina of Re-Define on Who is Blockchain’s Worst Enemy

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In an exclusive interview, UK-based think tank Re-Define’s Linda Zeilina talks about the prevalence of groupthink, the lack of diversity and limitations of Blockchain
Linda Zeilina of Re-Define on Who is Blockchain’s Worst Enemy

As governments and financial institutions grapple with the task of regulating digital currencies, they seem to be embracing Blockchain, the underlying digital ledger technology which powers the world’s most profitable cryptocurrency Bitcoin.

UK-based think tank Re-Define’s Linda Zeilina special advisor on sustainability strategies talks about the prevalence of groupthink, the lack of diversity and limitations of Blockchain in an interview with Cyril Gilson, Editor-in-Chief of CryptoComes.

Cyril Gilson: Could you tell me about your think tank and your audience?

Linda Zeilina: I work with Re-Define, an international think tank that helps corporations and governments implement sustainability strategies to become more environmentally friendly. I work with asset managers and government officials to integrate Environmental, Social and Governance (ESG) factors into their institutions.

Re-Define operates as an academic and consulting body.  We have visiting fellows and a large team of people who work internationally. Our visiting fellow’s program brings together tech pioneers from France, Silicon Valley and other parts of our world to serve as a brain trust. We challenge people to think outside of the box and invite a diversity of opinion.

In the tech industry, there is a strong tendency to have “groupthink.” Tech entrepreneurs passionately believe in their product this mindset sometimes results in overlooking issues and blind spots.

CG: So would you agree that the biggest enemy of the crypto community is the community itself?

LZ: We are all our own worst enemies to an extent. But I think diversity can bring new perspectives to the industry. Corporations are increasing diversity because they have woken up to the fact that women, minorities, people from different regions have a different way of looking at things. Alternative perspectives can be useful to identify opportunities and risks that one may have missed because of a sharp focus in one’s particular area.

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What is essential

CG: How do we change the dialogue? We hear many negative things about cryptocurrencies and comments that Bitcoin is a bubble. It makes people in the industry very defensive.

LZ: Educating the public is essential. The crypto community has been using a top-heavy approach which may not work as well as bottom-up approaches. When you get people involved, you put pressure on governments. It’s been pressure from bottom up that has influenced governments to address climate change. People suffering from direct implications of climate change are going out there, talking about it and bringing attention to the issue. Similarly, you have to think about digital currency as an advocacy and information campaign.

The issues that fire up

CG: But addressing climate change is a matter of life and death while adopting digital currencies is a question of paying a seven or three percent fee. Do you think it’s an issue that will fire people up?

LZ: People can be mobilized;  it’s how you communicate to the public. If you explain to them that healthcare will be cheaper, taxes won’t be as complicated, and they can be more secure from identity theft; then you can fire people up.  People like convenience, the rise of Amazon has been about making things quick and easy. Who doesn’t like quick and easy?

CG: Debates in cryptocurrency community get quite heated. Do you think the community could improve the way in which they communicate?

LZ: Definitely.  Communication is everything.  In a way, this is how technological advancement has always worked. Something gets invented, and then others improve it, and everyone has an opinion. I think that the community needs to solve its own issues because they are the best equipped to address them.  People remain protective because everyone wants to maintain their competitive edge.

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Role of governance

CG: What about the role of governance in Blockchain technology?

LZ: Everybody hopes that governance will change the status quo, but there are inherent limitations. We have examples of failed projects due to lack of underlying infrastructure, like Honduras.  Without decent governance, accurate record keeping, Blockchain may not work.  In some cases, governments can corrupt the system. The whole 51 percent aspect of the nodes is something no one seems to be talking about, and we have heard very little about the weaknesses of Blockchain.

Weaknesses of Blockchain

CG: So what are the weaknesses of Blockchain?

LZ: Well there are several. It is the 51 percent that can change the Blockchain outcome. If you do have a government that creates a land registry, but it’s an unequal society where not everybody will have the computing power or the ability to participate, Blockchain may not work. Moreover, stakeholders can use the technology to protect their interests.

Another major challenge is the amount of energy consumed by Blockchain. If Bitcoin used nearly 160 countries worth of power last year, that is hardly sustainable under the Paris Agreement, and people are not going to be happy.

CG: That’s their algorithm, and it cannot be changed.

LZ: Exactly! We need to invest more in green energy. The majority of Blockchain businesses will probably fail. But I have a firm belief these limitations can be solved through technological advancements in all areas.

Women’s role

CG: Do you think women are under-represented in this community?

LZ: Absolutely.  I also find it kind of funny because women are associated with the softer issues. Every time you go into a crypto conference people always start talking about the technical aspects.  Everybody knows how the technical aspects work; it’s far more interesting to see how the technology will interact with society and what the potential backlash might be.

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CG: Have gender differences played a role in the advancement of agendas because men are about achievement, advancing their agenda and women care more about society?

LZ: I don’t think that’s the division. The community needs an excellent communicator who can translate the message well to the public. Both men and women can be excellent communicators; it is a matter of who has the charisma to get them thinking.

Learn from the East

CG: Do you expect a greater advancement in the use of Blockchain technologies in developed countries or emerging economies?

LZ:  While much of the brain trust exists in the US and Switzerland, it’s important for institutional investors to know that there are real opportunities in the East.  Cities like Vizag, India, can leapfrog more easily because they don’t have massive institutional entrenchment which makes them more open to technology and the benefits it can bring.


Blockchain if appropriately used can reduce the know your customer issue of investing in startups in the East. A lot of sustainable energy startups are emerging in the East that solve everyday problems using a bottom-up approach. There is a lot to learn from that area and I hope Western startups and tech communities wouldn’t be too arrogant to learn from the East.

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As Technological Singularity Looms, Investors Must Fight for the User

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In the battleground for eyeballs, pulses, lifestyles and wallets, the fight for the user is a zero-sum game for competing companies.
As Technological Singularity Looms, Investors Must Fight for the User

If you are brave and agile enough to follow daily news from the various fields of modern technology, you are likely finding yourself obliged to admit that the idea of the technological singularity becomes less far fetched by the hour.

Artificial intelligence, machine learning, big data, cryptography have been moving along swimmingly while you weren’t looking and now they are in your toothbrush.

The singularity is coming, and while the average Amazon shopper is reasonably concerned about a robotic vacuum cleaner going rogue and maliciously chewing up their best shoes, the average tech investor is wondering how to be prepared for the unknown.

The big AI bang

The technological singularity, for the purposes of this discussion, is the hypothetical moment when the combined effects of artificial intelligence and machine learning will produce explosive technological development, leading to societal changes at a rate and on a scale unfathomable to the human mind.

Indeed, unfathomable even to the very imaginative, but unmistakably human minds of such extraordinary individuals of the species as Elon Musk, Bill Gates, Sergey Brin, Mark Zuckerberg, Jeff Bezos and Tim Cook.

Those who possess the intellectual or financial resources for guiding humanity’s socio-economic progress into the future are yet unable to look over the singularity horizon.

However, some facts are undeniable. The way we rely on traditional commodities and resources is constantly in flux, with some being relegated to the past and others coming to the forefront of new, sustainable planning. Values shift and consumption models change. Usage changes; the user stays – in fact, as global population grows, the user keeps on coming…

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The matrix: users as commodity

The conduit through which most investments and returns are flowing today is neither the oil pipe nor the conveyor belt – it’s the retina display. In the aftermath of the Facebook scandals, a saying that seems to have been around for the entire history of advertisement has acquired a new poignance.

If you’re not paying for it, you are the product – Facebook, Instagram, Google. In fact, even if you are paying for it, there are higher-order proceedings in play, and you are still the data product even as you consume – Netflix, Amazon, Apple. In this battleground for eyeballs, pulses, lifestyles and wallets, the fight for the user is a zero-sum game for competing companies.

The pressure will only intensify as highly personalized interactive technologies come into full power. The internet of things, or as Werner Herzog’s 2016 documentary Lo & Behold styles it, the Internet of Me, is the ultimate shrine to the user.

Connectivity and screens on household appliances and wearables mean untapped minutes, nay – hours, of user attention and consumption.

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The bearer is the bond: users as security

Some of the most valuable US companies – and the ones that brought the most returns for their investors in the past decade – have no tangible assets or products. This phenomenon has been extracted into an absolute with some cryptocurrencies and ICOs, where there are no tangible or intangible products, only their expectation.

What gives such assets and products value is user demand and participation. If all Facebook users offloaded to a different platform tomorrow, the valuation would go with them. The fundamental things apply as time goes by – strength is in numbers.

In the opinion of many tech experts, wide adoption of new technologies is the main challenge – in fact, adoption takes longer and is more difficult than scaling. Now, companies and their investors can only depend on user numbers, user loyalty and user data to sustain their financial health through the uncertain future.

As fragile as those factors can be, they are the ones that make or break public companies’ fortunes in the modern economy.

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No taxation without representation: users as community

Barring nuclear winter and cosmic apocalypse, people will continue to desire meaningful connections, to buy meaningless possessions and to watch adorable cats do silly things for hours. The singularity will certainly enable the best and the worst expressions of humanity, to the nth degree.

The transition to an intangible asset economy where users are a commodity is mostly complete, but a real achievement would be to win a fight for the user as a member of the global community.

While investing into users is clearly a solid strategy, there are different ways this can be manifested – from making money off the user, to making money with the user. Public ledger technology that brings transparency and immutability to data networks promises to give users back control over their own data.

As users get a sense of agency – not to mention compensation for their attention – companies enjoy a more substantive relationship with a more engaged audience.

Many Blockchain startups are treating the user as a collaborator, rather than a cash cow.  Whether creating a dating app, a governance model as in cultu.re, a decentralized social network such as Minds, an entertainment portal as in Verasity or a social ledger that is U.Community – they are interested in attracting users through objective benefits and positive social impact, rather than addictive gimmicks.

Potentially, this is the approach that can create a living for the founders, a return for investors and a positive experience for the community – and that’s a fight for the user that everyone could feel good about, technical singularity or not.

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Future of Blockchain Series: Vicky Barker on Mass Adoption

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Dacxi’s boss aims to bring more clarity for novice crypto users
Future of Blockchain Series: Vicky Barker on Mass Adoption

Once in a while, an exceptional technology comes to light. As everything else under the sun, those technologies have a certain cycle, almost a fruit like process. That initial seed of an idea turns into a sprout of potential, that becomes a tree giving us sweet and juicy benefits.

Vicky Barker's crypto exchange Dacxi is focused on bringing wonders of Blockchain technology and cryptocurrencies specifically to mainstream audiences.
We touched upon the growth of Blockchain technology, the role of team and the need for clarity for rookie crypto enthusiasts.

Cyril Gilson: Give us a brief story of how you first discovered Blockchain and what it meant for you?

Vicky Barker: I was at a conference in Hong Kong at the end of 2015 and accidentally stumbled into a breakout session that was all about how Blockchain might disrupt the beauty industry. I was really intrigued to hear about how Blockchain might have the potential to solve major issues in the cosmetics industry for both companies and consumers alike. At the time I was a beauty product manufacturer and I realized that Blockchain could be used to stop the counterfeiting of products and also provide supply chain transparency in an industry that is famous for smoke and mirrors.

From there I went down the rabbit hole and started devouring books, Ted-talks and whitepapers. Having lived through the Dotcom revolution, I realized that Blockchain had the same potential to turn the world on its head and I knew I had to get involved. I’m fascinated by the idea that our monetary system could be transformed and so create a fairer world. So my husband, myself and our investors set out to create Dacxi, the world’s first Community Exchange. Our goal is to help solve mainstream adoption of crypto assets.

CG: Tell us about your team. How did they get to the crypto industry?

VB: One of Dacxi’s strengths is our team. We have around 52 team members who are based in four offices in four different countries. They are a fantastically talented and diverse group of people with skills across the board from marketing, acquisition, community building to cryptoanalysts and also our dev and technical team. Some have been in the Blockchain world for years and act as crypto evangelists to any members of the team who are new to crypto!

CG: When in your opinion will mass adoption of Blockchain come?

VB: That’s the big question isn’t it? I think it is going to be like any new technology. At first, adoption is very slow and people question the value of the technology. We’ve seen this already. And then as Blockchain starts to spread it will follow an s-curve adoption cycle and quickly become unstoppable. When a new technology does take hold, it is very hard to stop. I think this will happen with cryptocurrency because of the network effects that strengthen and expand as more people use it. We need digital money for our digital world. That’s one of the first uses cases, and then once the more exotic DAPPs start to come online and scale there will be no looking back!

CG: Do you think your project may significantly influence Blockchain adoption? If yes, why?

VB: Yes, absolutely! Dacxi’s mission is to help solve the mainstream adoption problem. Our goal is to be the number one community exchange brand in crypto. We’re going to onboard the next wave of mainstream retail investors into crypto and that means up to 500 mln new investors and a market worth $1 tln by 2022. We’ll do this by pioneering a new category of crypto exchange, called a Community Exchange. The Dacxi Community Exchange has two key parts to it. Firstly, a user-friendly interface that is simple and intuitive to use. Secondly, it includes a dedicated community platform that provides new mainstream investors with the knowledge, tools, discussion groups and learning resources they need to engage with crypto assets in a safe and responsible way.

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CG: Name the factor that could be a major turnoff as it comes to cryptocurrencies and Blockchain. What can be done about it?

VB: The major turn off for people at the moment is they simply don’t understand it. It takes a while for people to get their heads around what Blockchain and crypto are all about. And of course, the barriers to entry are high. It’s a big challenge for new people to even get their first crypto and most people give up. Current exchanges are very technical and intimidating and not designed for mainstream users. So at Dacxi, we’re removing those barriers to entry, so new mainstream retail investors can get into crypto in a safe and responsible way. We’ll show them what they need to know and how to do it!

CG: The number of hacks is growing today along with the volumes of the sensitive data and the funds were stolen. How will you make sure that very personal user data is not going to be compromised?

VB: Yes, well obviously one of the strengths of Blockchain is that it allows users to take control of their data and keep it out of the hands of big companies that are more likely to be hacked. For us, as a crypto exchange, the security of our systems, assets and user data is one of the core principles upon which our business is built. We have best practice security protocols in place, a secure cold wallet storage facility in a remote location and our team is constantly assessing and testing our systems.

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CG: What major obstacles do you foresee for your project?

VB: One of the challenges for us in 2018 and I’m sure it’s the same for many others in the space, is the current bear market has meant that new investors aren’t ready to enter the market yet. In some ways, this has turned out to be a positive, as it has given us a longer runway to build out the Dacxi ecosystem platforms, so when the market does turn and we enter the next bull cycle we’ll be well positioned for the next wave of new investors.

CG: How big is the community you are working with? How do you describe it?  

VB: Our community is growing fast! I would describe our global crypto community as welcoming, friendly, empowering, inclusive, collaborative, credible, knowledgeable, aspirational, inspirational, entertaining, enthusiastic and positive. Because we’re global, our team is just as global and diverse as the community. We have people from over 20 different countries on the team.

CG: What is the role of women in your company?

VB: We have some great women on our team and it’s very important to me that we help encourage new female crypto people. It’s estimated that less than five percent of crypto investors are women and I find that quite shocking!

I think there are a few reasons why. Firstly, women are more risk-averse than men. And while crypto is becoming more recognized as an emerging new asset class, it has always been seen as risky. Secondly, knowledge or access to information. Bitcoin first became popular in the geekiest, nerdiest corners of the Internet. In those days you did need some technical knowledge to get into crypto, and while things are much easier now, and getting better all the time, it’s still true today.

Too many women think you need to have an economics degree or be a computer coder to be qualified to invest in crypto. That is not true! Also, did you know that woman make better investors than men? It’s true! According to research by Warwick Business School-  women’s returns on their investments were 1.2 percent higher than men. If crypto is going to achieve mainstream adoption, we must welcome more women into the space and I’m certain that we will.

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CG: What are your major principles when working with your community?

VB: We're all about our community. Our members are here to increase their crypto knowledge and learn more about how to take part in the crypto revolution. To help our community members grow in confidence on their crypto journey, we value and respect constructive contributions from anyone, regardless of where they are on their journey. We will all help each other to succeed.

Dacxi.com

Dacxi (Digital Asset Community Exchange International) is a global start-up pioneering a new category of crypto exchange, called a Community Exchange. Dacxi’s mission is to help solve the mainstream adoption problem by removing the barriers to entry that have prevented retail investors from entering the crypto market. Once these barriers to entry are solved, Dacxi estimates that up to 500 mln new retail investors will enter the crypto market by 2022.

The Dacxi Community Exchange has two key parts to it. Firstly, the Dacxi Exchange has a user-friendly interface that is simple and intuitive to use, not technical and intimidating like most existing exchanges.

Secondly, the Community Exchange includes a dedicated community platform that provides new mainstream investors with the knowledge, tools, discussion groups and learning resources they need to engage with crypto assets in a safe and responsible way. Beta versions of Dacxi’s platforms have been launched and can be accessed via dacxi.com

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