As Bitcoin moves toward general acceptance, demand for businesses like Bitcoin is growing. This requires service providers that can support start-ups and even start-ups that meet such market needs.
That’s when AlphaPoint, a company that offers a white-labeled digital money exchange and remarketing platform, enters the picture. Our CoinPoint correspondent spoke to Vadim Telyatnikov, CEO of AlphaPoint, who shed light on how his business is affecting the Bitcoin ecosystem.
Vadim Telyatnikov CEOHe even expressed interest in the “transparency and demonstrably fair play” made possible by the digital currency, which points to the AlphaPoint exchange platform with Bitcoin gambling and even Bitcoin forex markets in the future.
Hi Vadim. AlphaPoint operates in the Bitcoin market. How did you get into Bitcoin or cryptocurrency in general ??
Shortly after I sold my last company to OpenX, I helped launch Admire Capital, a systemic and activist hedge fund. We started trading Bitcoin at Admire, but decided we didn’t have enough liquidity to continue as a stand-alone strategy. Although we didn’t pursue Bitcoin at Admire, I fell in love with the blockchain and the technology behind it. Seeing the huge potential eventually made me decide if I had to commit 100% of my energy here.
How would you describe the relationship between the latest business and the cryptocurrency?
AlphaPoint is responsible for building and maintaining a reliable, scalable infrastructure for stock exchanges and businesses that need access to liquidity. By providing technology and infrastructure to stock exchanges, we help make it easy for everyone in the world to buy and sell digital currency.
Our mission is to make it easier for businesses to initiate, scale, and operate digital money exchanges around the world. We offer a SaaS platform that allows entrepreneurs to quickly launch their own digital currency exchange and helps established companies add support for digital currencies to their current offerings. Ultimately, we strive to help change the transactions of the business world and everyday people.
What have been the remarkable achievements you have made since running your business?
The launch of our first client in early 2014 and the achievement of the fifteenth client milestone was a great early result. We were incredibly excited recently when Bitfinex , the world’s largest BTCUSD exchange, chose to move to our platform.
How about the main challenges you face in advancing your cause ??
Our early challenges were technical in nature and we focused specifically on building the fastest and most scalable platform possible. Most of the challenges we face today are met indirectly through our clients. They are often confronted with regulatory uncertainty and banking security challenges. In response, we have taken steps to automate customers by automating compliance processes, trained exchanges on regulatory issues, and, where possible, assistance with banking relationships.
There have been significant changes in the market, as before, as last year. How would you characterize today’s Bitcoin economy?
We are currently seeing that the necessary layer of infrastructure is being built for the next wave of applications. So far, the companies that have gained the most grip in the Bitcoin space have been infrastructure-centric (stock exchanges like Bitfinex or wallet services like Coinbase), and we’ve seen merchant-facing applications successfully implemented today. layer on top, 80,000+ merchants accept Bitcoin. The next step is to use the growing infrastructure base to build innovative consumer applications for wider adoption.
We believe that as more useful applications are used, the demand for Bitcoin will increase and this will reduce volatility in the long run. We also believe that applications that close Bitcoin to existing currencies (e.g., Tether, Bitreserve, or Coinapult Locks) will continue to become more popular as a way to manage volatility.
Did you still get a Bitcoin bid?
At the moment, I’m 50/50 to stabilize around $ 100 or $ 400.
How do you think AlphaPoint will positively impact Bitcoin’s global promotion and acceptance?
For Bitcoin to continue to grow and develop, it is essential that it can be quickly and easily exchanged for any young currency and vice versa. This is true whether the end user is an individual or a multinational enterprise. We provide the market with a proven, secure architecture to build these exchange solutions.
AlphaPoint QuoteHow do you see the effects of altcoins or Bitcoin 2.0 technology on the future of Bitcoin ??
Like the rest of the community, we are keen to see what happens to Sidechains, Ethereum, Omni and similar projects. We are excited about the types of applications that can be built on Bitcoin 2.0 technology, and we believe they will be widely used in the future.
What are your plans for your business? Are you planning to expand soon?
Currently, our plan is to continue to develop AlphaPoint in the sense that we all believe it could be the “Intel Inside” technology that will feed the digital money exchanges unveiled at the world premiere.
We have grown our team exponentially in recent months and there are a number of new projects underway that we will be announcing during 2015. We look forward to our new frontend, which we unveiled at FinovateEurope last month. This is a completely new widget-based toolbar that allows customers to deploy their user experience with almost zero lead time.
Now that Bitcoin is getting more and more attention, what advice can you give to thousands of Bitcoin fans, especially new entrants and entrepreneurs?
These are still the first times. Many problems remain to be solved and the community is always hungry for innovation and insight. It’s important to keep in mind that even though new infrastructure is being built that will pave the way for the next wave of applications, there is still no killer application for Bitcoin or blockchain. Entrepreneurs need to focus on building a killer app.
Before we close, one of the stronger Bitcoin markets is still Bitcoin gambling. Do you have an opinion on this industry?
We are not working directly in the field of gambling, but we are excited about the opportunities for transparency and demonstrably fair gaming. Often, swaps are used in conjunction with gambling sites for Bitcoin / fiat conversion.
Any additional information you want to share with the world?
I predict that the impact of the blockchain on the payments industry will ultimately rival the media and content impact of the Internet. It’s an incredibly exciting role to play and help the industry move forward.
I wish AlphaPoint a lot of success and thank you very much.