Our new Disruption by Blockchain series aims to highlight companies that are leveraging the incredible potential of blockchain technology to disrupt and revolutionize their industry. Through one on one interviews, we'll speak directly with industry leaders to cut beyond the hype and get directly to the heart of practical use cases and examples of how it will change the world, one industry at a time.
The following is an interview we recently had with Nikita Krestyanikov, CTO of TradePlayz.
1. What’s the history of TradePlayz? How and where did you begin?
NK: I got involved in the project in August, when Alex came to me and said: Have a look at what I’ve created. And so it began.
Alex was working on TradePlayz for a long time. At first it was based on the exchange market, there was a colossal amount of work put into the iPhone application, and an infinite amount of legal questions had to be solved. But it would be better if you ask Alex himself about that period.
My only contribution to the project was the idea to integrate cryptocurrency. Cryptocurrency is a lot more volatile, so playing short PvP sessions between 2,3,4 people based on crypto – is a hell lot of fun.
Ow, but also I contributed the design. Well, actually a designer, to be specific.
2. Who are the founders and key team members?
NK: At the moment the company is basically divided into two departments: the development of the product, and…Well, let's call the second department marketing. Alongside Leonid, I am in charge of the development department. Alex alongside Michael Todd (our Corporate Business Development Director) are working with investment-funds and private investors, as well as working on legal questions and marketing. But nevertheless, we are a “classic” start-up in the sense that everyone does everything.
Michael once said “Every member on our team can be compared with a Swiss Army knife. For example, our programmer gave a whole lecture and a short tour of Blockchain technology to one of our potential Zed tokens buyers via telegram chat.
3. What problem are you solving? Who are you solving it for? What is your solution to this problem?
NK: Let’s imagine a situation where you have decided to become a trader on the cryptocurrency market. You have no experience, no appropriate speciality (education), and you have nobody you know in this area whom might have helped you.
But what you do have is an inner certainty that Ripple will rise from its knees, Doge will crumble, and Ethereum will stabilize at $1350, effectively becoming the new bluechip of cryptocurrencies – not volatile, convenient enough to use as a savings asset.
Thus, you invest 10,000 USD into Bitfinex, attempting to earn on it, selecting x10 margin and a diversified medium-term portfolio. And then all of the sudden as a result of an unfortunate chain of events, Ethereum sinks because Buterin has missed his third in a row public announcement and nobody can find him, swap for DOGE hasn’t worked out, and Ripple….Well, just look at the charts.
And the point is not that you shouldn’t invest, it's just that there are certain conditions and risks that apply when doing so.
TradePlayz neutralizes the risks, lowers the entry costs, all while keeping and even potentially increasing the rewards.
As for me personally, TradePlayz is a leisure activity with elements of education: TradePlayz will teach you to work with graphs – to analyze them, and to make the right decisions without wasting too much time. And all of it is presented in a game form with minimal investments.
Moreover, and not least important – that leisure activity may potentially bring income: both in the present and in the future. I won’t be surprised at all if in half a year we’ll see people who have a stable income from TradePlayz, and making a good use of that money such as paying for their education or supporting their families.
But wait, there's more: our project is not only legal, but it is also transparent. The issue with the majority of projects where money is involved in any capacity is that there is no trail, i.e. it is not transparent. For example, with stock markets you can’t track the real balance of accounts because every large stock market has hundreds of them. They are unlicensed and ungoverned. You simply have to believe that your money will return to you with your percentage. But then along come SEC, Russian hackers, government regulations, unreliable stock market agents, market crashes…
With classic FIAT projects, the reality is even worse. You transfer your funds to a company from Malta registered on the Cayman Islands and “hope” that they will return. Just like poker players hoped, when they trusted their money to FullTilt.
Please note: FullTilt “painted” the funds of their users. The con was discovered when a large number of users requested to withdraw their funds at the same time. More details regarding this event here.
We get our funding from our users in tokens, and we give out winnings in tokens. The amount of tokens is limited by design, and the transaction history is always available on the Ethereum network.Honestly speaking – it's not us who solve this problem. The problem is solved for us simply because Blockchain technology exists.
4. Why is your industry ripe for disruption?
NK: The cryptomarket by nature is disruptive and a bit chaotic. It's volatile. Combine that with the statistics on the increases in mobile gaming and that people have been trying to invent a product to teach people investment in a fun way for a long time; well…. you have a recipe for success, with a knowledge-hungry market of smart players / buyers, combined with a creative, exciting and lucrative product.
As for statistics and case studies…Well, all you have to do is look at all the coins jumping up and down on a daily basis, no, hourly basis at coinmarketcap.com.
5. What’s the future of your industry?
NK: To answer this question I suggest reviewing the three pillars, upon which Tradeplayz is based: ICO, Blockchain, and online gaming.
Prediction #1: About ICO. Expect regulations in this area. Hardcore regulations. And I believe that it is for the best. Regulations will safeguard non-profile investors from losses, will drastically decrease the amount of scam-projects, as well as aid in popularizing investments in high-tech project during the early stages of their existence among the masses. The ICO market will have an increase of FIAT investments, while lowering the amount of crypto-investments. The ICO market will also have a large amount of ambitious, seemingly impossible projects. And even though only a select few among them will change the world, those select few make it all worth it.
Prediction #2: About Blockchain (in a nutshell). I really hope that the trend to shove blockchain everywhere imaginable will cease. It is an amazing technology for real estate, for governmental projects, for the financial sector. For anything that requires a multi-layer, high value verifications. But definitely not to buy zirconium, I mean, really…
Prediction #3: About the gaming industry. Many browsers or “freemium” games such as farms on social networks, CryptoKitties etc. will switch to cryptocurrency, even if the game’s fans will be against that change. But also other games which feature in-game purchases, such as League of Legends or Dota2 will make the switch from FIAT to crypto. Moreover, I expect LoL and Dota2 to allow its players to actually “earn” cryptocurrency, be it gameplay or game-related mechanics (such as Steam Market, Steam Workshop etc).
Post-post-post mining (hahahah): Just imagine, in ten years your son will come to you and say “Hey mom, I’m going to work, talk to you later!” and with these words, he will switch on his PC and call his friends to join a raid. Ready player one!