Interview with Bistox Exchange CEO
On the world digital mining summit 2018 in Tbilisi, organized by Birtvi and Bitmain's representatives in Georgia, we met a lot of interesting new Blockchain start-ups. One of them, the Bistox exchange, agreed on an interview:
- Please, introduce yourself first.
- My name is Arutyun Nazaryan, I am the founder and CEO of Bistox echange. It is the future hybrid platform of cryptocurrency trading and digital assets. It’s called a hybrid because it is semi-decentralized, we have an option for our users to make atomic swaps or use decentralized exchange within our platform. Our platform will be launched in the middle of 2019 January, and we’re here to represent our project and to be the part of the biggest summit that I have ever seen, and it’s surprising that it is in Tbilisi, in Georgia. It’s beautiful.
- How far are you on the research with atomic swaps?
- We went quite far, I mean much far than our competitors, and it’s going to be obvious in January of the next year. All we have to do is do our jobs in development.
- What are your future plans?
- Our plan is stick to development, stick to our fundraising plan. We’re making a safe ecosystem for newcomers or early adopters, we’re making a user-friendly ecospase from end-to-end, so it’s A to Z solution for people that would like to go into the crypto market or for people that are already in the market.
- Where are you based?
- We have different offices in every part of the world. Our biggest offices is in Dubai, because we are focused on middle Asia, Middle East and Northern Africa. We also have development office in Uzbekistan, in Vancouver, and in Moscow, an designing office in Ukraine, so we’re quite distributed and we have developers all over the world.
- Why did you focus mostly on these places?
- Well it’s a big market in Middle East and Northern Africa, and it’s still virgin. A lot of things to do, a lot of things to develop, a lot of people who need to be integrated into this industry, so we would like to do that.
- And how is the Government’s reaction on this? Are the regulations affecting you in any way?
- We didn’t feel it yet, and I don’t think we will feel it. Regulation is good, it’s way better than being in the grey area, moving from one dot to another dot, we don’t want to do this, we would like to be totally transparent. That’s our vision, and that’s what we are trying to implement – to be more transparent than any cryptocurrency exchange has ever been.
- Last question would be, what are your recommendations for projects like you, what have you learned and what would you recommend them to do?
- Well, the main advice would be to just stick to your plan, if you know what you’re doing, definitely you will make a beautiful project. Don’t forget that there is a reality, it’s not only crypto over here it’s a full economic model over here, people are paid salaries in dollars, people don’t accept salaries in ETH or BTC everywhere, just couple of countries, not more. Also, don’t spend your money on huge advisors, don’t spend your money for immaculate marketing, just spend your money for development and market acquisition, this is the most important thing.