On February 15, 2019, Kiana, Co-Founder of DigiFinex was invited to an interview with PAXE TV “Coin Hall of Fame” program in Korea.
“Coin Hall of Fame” is Korea’s first Blockchain project talent show, aiming to introduce high-quality Blockchain projects to the public through open and transparent selection methods. During the interview, Kiana unveiled DigiFinex’s annual plan, including the direction of listing strategy, operation plan and her perspective of future direction of the industry. Below is the full interview. Blockchain lovers should not miss it.
PAXE TV: Singapore is the third largest country in regards to most ICOs, and is the most innovative country in Asia. Especially, it is said that the regulations are set for the crypto exchanges, can you briefly introduce DigiFinex and the current role it has?
Kiana: DigiFinex is launched in the first quarter of 2018, it has become Singapore’s largest and the world’s top five exchange with more than one million registered users and a total of over 60 Billion USD in transaction volume.
Cryptocurrency may bring new changes and outlets to the current financial system. DigiFinex strives to become a one-stop digital financial services platform, providing global customers with a full range of digital asset financial services including: convenient and secure investment channels, global blockchain market information, investment education and digital asset value management.
PAXE TV: Crypto projects such as AXL and MeconCash which were introduced in this program, “Coin Hall of Fame”, are also listed, this is entailing high demand for Korean projects to list on DigiFinex. What are the criteria for listing ?
Kiana: We only select high quality projects. To us, safety and security is very important, so we have very strict listing criteria. For projects that wants to be listed, our team evaluates and grades projects in terms of project quality, number of users and activeness, media coverage & influence. Only high-quality projects will be selected to be listed.
In addition to meeting the Project Listing criteria on our platform, we also look at the following points:
1. Whether the project has resolved the pain points of the industry
2. The development prospects and planning of the project and the transparency and progression of the project
3. Community activeness
4.Team members’ background and technical and innovation abilities.
We provide our customers with a “fair and transparent” trading environment. We will strictly monitor and track the status of listed projects in real time. We have a strict take-down mechanism to prohibit project parties, any individuals or institutions from controlling the ecological balance of the global digital asset market; in addition, we have strong media resources and community foundations that complements with the project and it’s promotion.
PAXE TV: There is a tendency to connect cyptocurrency and blockchain with speculation in Korea, and there is no government regulation. Singapore, on the other hand, is actively supported by the government and is expanding the scope of use such as banking transactions while supported and protected legally. What conditions are needed to use and spread blockchain?
Kiana: Blockchain is still in its early stages, just as the Internet was once in its infancy. The number of people who came into contact with blockchain and have a correct understanding of its value is still limited. I believe that blockchain technology will reshape the Internet world and profoundly change our financial system. In this regard, we believe that the more effective way to promote blockchain is to do knowledge-based education for blockchain beginners. DigiFinex will be devoted into the education of blockchain technology and ask for no return. Stay true to our initial faith entering the blockchain industry — create more value for the society.
PAXE TV: What is the expected market effect of the Central Bank of Singapore (Ubin), which is introducing a stable coin that is pegged to the fiat currency, SGD?
Kiana: It marks the first government-regulated issuance of Cryptocurrency in Singapore.
The strong credibility of Ubin, a stable currency guaranteed by the Singapore Central Bank and administered by the government, will boost the confidence of individual investors and investment institutions in Singapore. It will be beneficial to the development of the Cryptocurrency market and will reduce risks for investors in Singapore. It sets a very good example for other markets as well.
A stable coin is the foundation of the Cryptocurrency market and the key to the reformation of the Fintech industry. More stable coin issuance anchoring fiat currencies is conducive to encourage market competition and serves as the best protection to investors.
PAXE TV: During the ‘BlockChain EBF 2018’ in Korea at the end of last year, constructive stories about the vision of the Fourth Industrial Revolution and the prospect of a block chain were discussed. Can you please analyze this year’s issues to prospects this year in macro perspective?
1. Globally, the number of Cryptocurrency investors will continue to rise. More countries will introduce regulated Cryptocurrency, stable coins anchoring fiat currencies, and trading platforms.
2. The stable coin market will continue to prosper, and market shares of USDT will be decreasing, the stable coin market will be more balanced.
3.Scam projects and shitcoins may continue to exert great downward pressure on the prices of all Cryptocurrencies (including Bitcoin), but counterfeit coins will gradually lose its attractiveness. More investors and investment institutions will bet on the safer Bitcoin and stable coins.
PAXE TV: What is the direction of DigiFinex listing and operating plans of the exchange this year?
Project listing plan: We aim to give priority to projects in payment channels and artificial intelligence in the future.
Business plan: 1. We will be introducing Margin Trading products with three times leverage. 2. Enrich on blockchain knowledge education and content structure. Do our best for the development of the Cryptocurrency market. 3. Strengthen security protection mechanism, implement a more rigorous review system and listing standards and refine systematic account services.
PAXE TV: What would you like to say to viewers of Korean investors who are watching “Coin Hall of Fame”?
Kiana: I feel very fortunate and happy to join the blockchain industry. When investors are consistently looking into the market, you have to understand the project behind each token, instead of doing speculation. You also need to understand the exchange platform, like us, Digifinex. We stay true to our mission, we want to help with the development of the blockchain technology, and educate our users.