BitCoen: the First Community Open Exchange Network

  • 1 March 2018
  • Expert Insights

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 David Dyshko, CEO of BitCoen.

1. What’s the history of BitCoen? How and where did you begin?

DD: The blockchain project BitCoen was originally conceived as a system of services, qualitatively improving the life of the Jewish community. This is a fairly closed community, existing Worldwide. This community has needs in internal mutual settlements, to help their own businesses, oriented only for Jews; and has a big culture of charity. And all theese needs must be accomplished in the most transparent and profitable way. The ideal target audience for a blockchain project! So we came up with the BitCoen ecosystem idea, which integrated the useful mechanics from the world of the blockchain.

2. Who are the founders and key team members?

David Dyshko, President
David was born in Moscow.
He studied at gymnasium 1527 and then lyceum 1555 with in-depth study of the German language.
Graduated from Moscow Region State University, the faculty of International economic relations.
Has worked mainly in sales, from bicycles to real estate, development and restaurant projects.
David is a representative of the Moscow Jewish community.
Married, and has a child.

Slava Semenchuk, Project’s CEO
Under the age of 30 he has already created and sold more than 10 start-ups, including in the fintech industry.
Lifepay, with turnover amounted to 2,5 billions, was the largest project created by the entrepreneur, it was sold to a bank subsequently.
Got the title of “Entrepreneur of the Year” according to YE.
Yet before the emergence of a mass interest in the technology of blockchain Vyacheslav Semenchuk was engaged in its implementation in bank sphere.

Karolina Matusso, Head of Marketing and Communications
Graduated from Moscow State University, has 2 degrees.
Marketing specialist in B2B and B2C.
More than 3 years of managing marketing projects in companies from Fortune 500 list.


3. What problem are you solving? Who are you solving it for?

DD: The world Jewish community is one of the oldest associations of the people. Following the traditions, preserving the connections around the world and the compulsory mutual assistance are the main values of the Jewish people around the world. However, a financial assistance between countries and continents is sometimes too expensive, and the modern technologies, helping to reduce these costs are still very poorly used in the community. And this is despite the fact that Jews often develop the most progressive technological solutions, and it was Jewish people, who once created the banking system itself. Today we are developing the first blockchain-project for the Jewish community around the world, fully in line with the cultural norms and traditions of our people.

4. What is your solution to this problem?

DD: We're offering the BitCoen blockchain project, which consists of several components:

1. BitCoen token is a tool, allowing purchasing, making mutual payments, paying for services and donating to charity. The offline and online payment system, which allows using BitCoen in everyday life.

2. BitCoen loyalty program (“BitCoen Loyalty”) for the Jewish community around the world. By using this system for payments in stores, a user receives BitCoens which can be spent wherever BitCoen is accepted for payment. A validity period of charged BENs is not limited, they do not disappear.

3. BitCoen wallet (“BitCoen Wallet”) is a convenient system for daily use, both for private persons and business, and has the form of online and offline payment system.

4. A single platform/marketplace for Jewish businesses (“Bitcoen Platform”), which allows access all products and services in one-stop-shop mode.

5. The advertising platform for popularizing Jewish businesses BitCoen ADV allows business-partners of the system to get new consumers of their services by attracting them to the products within the Market Place, as well as to own Internet resources of these partners.

5. Why is your industry ripe for disruption?

– High costs for cross-border transfers between Jewish community members in different countries.
– Weak penetration of innovations into the community.
– The absence of a single global platform for Jewish businesses.

6. What’s the future of your industry?

Prediction #1: Cryptocurrency market will reach $1.5 trillion during the next 2 years.

Prediction #2: Cryptocurrencies will have much more real-world application. More than 10% of outlets will accept cryptocurrencies as payment in the nearest 3 years.

Prediction #3: Loyalty programs will completely be switched to blockchain technology.

Prediction #4: During the next 3 years we should expect the emergence of more than 30 national and ethnic crypto-currencies.

About Expert Insights