New York Blockchain Week kicked off in style with Ethereal Summit and talks of the decentralized web. Since then, ETH hit its 2019 all-time high, holding strong well above $200 at the time of writing. Bitcoin is outperforming all other assets from stocks and commodities to gold, also reaching a 2019 ATH, at well over $8,000. The excitement is building as more major announcements come out of the city that never sleeps. And our CMO Lidia Yadlos is right in the middle of it! Let’s take a look.
Institutions Are Betting on Bitcoin
From the news that Bakkt could finally get the green light to start its physically settled Bitcoin futures trading, to the shocker that Microsoft will be building a decentralized identity system on the Bitcoin blockchain, it’s all happening stateside.
CME registered a record $1.3 billion of trading on Monday. eBay announced that it will be accepting crypto payments, and you can even buy your produce at Whole Foods in BTC. All this institutional investment and support for Bitcoin and blockchain technology is extremely bullish for the entire ecosystem.
We’re watching a quantum shift in the way that major brands and corporations interact with cryptocurrencies. From Microsoft to eBay, these are giant strides forward to mass adoption. Increased awareness, improved infrastructure, and user experience will all help attract more people to the industry.
When Digitex launches, market sentiment will be high. This means that more traders will come to our platform for commission-free trading and non-custodial accounts (another major topic of discussion at Consensus and in the industry at large).
Lidia Is Meeting and Greeting and Making Connections
We already have a massive community waiting for the Digitex Futures exchange to launch, but we know from our experience until now just how much potential we have. Every time we get new eyes on the project, the reaction is incredible.
While we’re not open to U.S. investors, Lidia has been speaking to people from all around the world. She’s been interviewing, networking, and generally spreading the word so that by the time we launch, anticipation will be at fever-pitch globally.
In the above picture, she’s speaking with Russia Today. This is significant since the majority of their audience is new to cryptocurrency. However, there is a lot of interest in Crypto in the Russian market.
Some 74 percent of Russians have heard about Bitcoin and other cryptocurrencies and Lidia shared details about our unique project, revenue model, and non-custodial accounts. With Adam making Moscow his base for the next few months, it’s only natural that Digitex will start to raise more interest in this region.
Interviews with YouTubers
Nicholas has been following our project and noted how entertaining he finds Adam. He also brought up the issue of the unfortunate launch delay, to which Lidia replied:
“Adam had to make a very hard executive decision, and ultimately I can personally agree that this was the right thing to do… although our community was outraged by this news. If we had launched the exchange as it was, it would have hurt us even more. It had so many flaws, and it didn’t represent the model we promised our community.”
Nicholas nodded his head and Lidia continued, “The right thing to do is to continue our development and perfect the exchange and launch something which will actually bring value to traders and our HODLers. We’re in such a competitive market, there are hundreds of exchanges out there which honestly don’t really matter. If you’re not in the top 10 or even top 20, then that exchange pretty much has no actual market share.”
He seemed impressed by Lidia’s integrity, agreed that the delay was the right decision, and he looks forward to following our progress.
Bank on It
John Siracusa of Bank on It podcast comes from a banking and institutional background. He’s well-known for interviewing famous executive VCs. So naturally the first question he asked Lidia was whether we were looking for private investors, to which she replied:
“No, and I know that’s not the answer you would expect. But the reason for this is because we see private “whale” investors as being very dangerous for our token. We have actually taken extra measures to ensure that we won’t be in a position where whales can purchase large quantities of DGTX and affect the price by launching our Treasury.”
She went on to explain, “We set aside 100 million DGTX earlier this year in a smart contract, which will be releasing 10 million DGTX each quarter over the span of two and a half years. We’ve set a cap on this token sale so that no one can ever buy more than one million DGTX.”
John remarked that major banks are entering the arena building new blockchains and cryptocurrencies and it will become that much more difficult for exchanges such as ours to stay competitive, and more so, survive… However, he also noted that it wasn’t impossible.
Although Lidia had boasted about our accomplishment of achieving a waitlist of over 1.5 million users, he felt that we would need many many more users to stay competitive.
In summary? It’s not impossible but it will be challenging. But with such a unique product and a great value proposition for users, we have every chance of succeeding.
Amazon’s Biggest Crypto Show
Below, you can see her talking with the host of the biggest crypto show on Amazon, Rizqi Presents: Blockchain.
Show host Calvin Tran asked our CMO what it will take for us to see mass adoption take place. Lidia went on to answer “users.” Of course, his next question was, well, how do you get those users?
“Calvin, that’s the million dollar question I think everyone here at this blockchain conference is working to figure out! There are hundreds of real use tokens built on blockchain applications which are emerging, and this is what’s fueling growth in the cryptocurrency ecosystem… There are hundreds upon hundreds of different projects out there which are designed to bring real value to users. It’s only a matter of time before cryptocurrency becomes mainstream.”
Lidia has been so busy making contacts left and right that she’s even hosted a press conference and been interviewed by Nasdaq’s very own Jane King. Among all the things Jane and Lidia discussed, one of the most interesting points Lidia made for Jane is that the derivatives market is growing. In 2018, the market generated $30 billion with the futures market alone up 15%.
Lidia went on to explain that the Bitcoin futures trading market is massive:
“If you look at BitMEX, one of our main competitors,” she said, “they’re trading $4-5 billion a day, OKEx trades $1.5 billion a day… these are huge figures. You may look at Digitex and ask why is it relevant? Can it actually have the potential to penetrate this market and capture a portion of this market? And the answer is yes… there is nothing out there like Digitex.”
She went on to explain the unique selling points of our exchange, starting with zero fees, and additional security through non-custodial accounts.
“With more and more exchanges being hacked, and even Binance getting hacked for some $40 million worth of Bitcoin that becomes a significant matter… Digitex, as a non-custodial exchange, will never hold users funds, so they don’t have to worry about hackers. I believe that’s an extraordinary value proposition for traders, especially when they’re trading large figure volumes at high frequency.”
Wrapping it Up
Of course, many people in the community will question the need for more marketing before we have the product launched. Well, simply because the more people that know about Digitex Futures and believe in the project, the better!
We may have made a few mistakes along the way, but we’re more confident than ever of delivering a world-class game-changing exchange, and we want people to know about it.
Adam is in Moscow making great progress with SmartDec and we’ll have good news to announce soon regarding the project scope and timeline. We’ll be hearing from him very soon, so stay tuned!