How did you come up with the idea of Binaryx?
Of course, I didn’t initially think about the crypto exchange. Prior to that, I was working on
the cryptocurrency payment system Paytion. The experience with Paytion showed that
people are not much interested in cryptocurrency as a common medium of exchange, but
they would like to retain accumulated wealth through it.
I realized that cryptocurrencies are primarily relevant to entrepreneurs, so the idea was to
combine the functions of the exchanger with other services that could be useful for business.
It took me more than a year to develop the Binaryx concept, but the final product turned out
to be an unconventional and efficient project.
At the moment I have clearly determined the course and model of the company - Binaryx will
act as a cryptocurrency exchange and the platform for the tokenization of assets. Business
owners will be able to produce their tokens on Binaryx, then sell them on the platform,
attracting investors from around the world.
What makes tokenization services interesting for the users?
While Binaryx is at an early operational stage of its development, micro, small and
medium-sized companies are already making the best use of our services. And we are
experiencing a burgeoning demand from these customers.
Entrepreneurs often have to use one site to emit their tokens, and then go to others to trade
them on the market. With Binaryx, a whole range of cryptocurrency-related operations can
be performed within a single platform without resorting to third-party services. And yes, this
can be the difference for many companies involved in tokenization.
Which industries are more favorable to the tokens as a medium
of exchange and which have difficulties in adapting?
At the moment tokenization technology is developing at its fastest pace and incorporating
absolutely all areas. It is one of the most cutting-edge concepts in history and it will help to
completely transform the world economy and ensure its sustainable growth.
The main advantage of tokens is the low entry threshold for buying an asset. Anyone can own
a portion of various assets, including bonds, venture funds, real estate, or even intellectual
property by using tokens. Anyone can become a part of a particular company or the entire
economic system without the requirement of great capital on your end.
Blockchain introduced a new infrastructure for the payment
services. Is it true to say that tokens improve asset
management?
Tokenization elevates the asset management system to a new level. A major advantage of
tokenization is high liquidity, tokens are easy to buy and sell on cryptocurrency exchanges.
In addition, the tokenized assets are completely transparent, since all operations are saved in
the blockchain and are accessible to anyone for monitoring. And, of course, blockchain
provides total safety of transactions, as only authorized nodes can track system users.
Name key obstacles for small businesses to embrace
tokenization and how is Binaryx going to help?
The major gaps and constraints affecting the adoption of this innovative approach to asset
management is the lack of clear regulation that would help to attune a particular economic
system to tokens. Tokenization will become universal and prompt the world economy to
strengthen its growth provided that clear regulatory regimes for digital assets and their
status within legal and economic framework will be implemented. Binaryx is working with
qualified lawyers to ensure compliance with all regulators and thereby increase liquidity and
credibility of the service.
What is your vision for the future of tokens?
Tokens enable projects to attract investment using the crowdfunding model. It is the most
accessible and fast-moving model of fund-raising, which provides opportunities for all
market players - small investors receive promising investments and enterprises receive
inflows from new, previously untapped sources. This is the main force and potential of
tokenization, so I think that tokens will become an important сomponent of business and
the economy in the coming years.
Do you have a solution on how to start a successful business?
I think no comprehensive strategy exists in this regard. We live in an ever-changing world, so
I’m constantly exploring new technologies and solutions that can help businesses. My
pattern is the absence of patterns.
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