Below is our recent interview with Pavel Salas, CEO at Tokenbox:
Q: Could you provide our readers with a brief introduction to Tokenbox?
A: Well, as FinTech industry is rapidly growing, as cryptocurrencies become more popular and more people move beyond rhetoric and finally buy themselves some tokens, we’ve realised that market urgently needs a convenient, ready made tool for efficient crypto assets management, Tokenbox is basically an ecosystem that combines cryptocurrency funds under the management of professional portfolio managers on the one hand and investors on the other. We will give portfolio managers and traders, including professional teams, a ready-made “box” solution for the easy creation of their own tokenized fund, operating professionally, transparently and within the legal framework. Investors are to be granted access to the best strategies for managing funds on the crypto market with a high degree of safety. Thus, investors can make their choice between different legal and audited funds, according to the inherent ratio of risk and return. I think it’s a great solution to manage crypto assets. The Tokenbox project raised $8.3 million during the ICO, and TBX tokens are already listed on various cryptocurrency exchange markets.
Q: What are the benefits of your platform?
A: There are multiple benefits for different categories of our users. For example, along with our partners we have developed a new trading terminal, suitable for any currency. Then, a multicurrency wallet, which will make working on our platform even better. Also, mandatory KYC and AML procedures are among Tokenbox main advantages – we take care of everything.
Q: What can Tokenbox do for you?
A: • Tokenize your investment portfolios
• Provide a proper trading terminal, an analytical platform, and various clients services to help manage your account
• Give an adequate legal framework that will suit your requirements and needs
• A security feature called smart contracts will ensure you are covered by all obligations
• We will provide an FTC procedure to every investor, and conduct due diligence with the traders and funds
Q: What is the functionality of TBX tokens?
A: TBX is a utility token that provides access to the platform’s services. A portfolio manager or a trader acquires TBX tokens and deposits them on the platform, in order to operate his own fund. These funds are placed in the portfolio and are valued like any other assets. The share of TBX tokens in portfolios should be maintained at a level of at least 5%.
Q: What is “Fund’s tokenization”?
A: Each fund based on the Tokenbox platform will be able to create its own token, which will be an equivalent of a share in the fund. The price of a token depends on the portfolio performance and capitalization growth without dependency on the number of investors. The process of issuing and redeeming tokens is fully built on Ethereum smart-contracts.
Q: What do you think about the future of cryptocurrencies?
A: Blockchain technologies will continue the intensive development, being practically implemented even more. This is indicated by a growing high-level interest, including the interstate cooperation. In 2018 this topic was discussed at the G20 summit for the very first time. In our opinion, the market of crypto assets, as a crucial part of the digital economy, also remains very attractive for investments, as well as for business and services building. Within just a few years decentralized platforms, cryptocurrencies and tokens will eventually become a routine for people in many countries.
What we will also be witnessing a lot is the regulation. We’ll definitely see more of it.
As for the cryptocurrencies and their prices, I think we will soon witness an extensive growth of the top-10. Besides, many people now prefer a so called reserve asset, which Bitcoin is also gradually becomes, just like gold or Swiss franc. Possibly, such cryptocurrencies as Monero or Zetcash will go up, as they remain anonymous.
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Q: What is on the roadmap for Tokenbox moving forward?
A: If we’re talking about the nearest plans of our team, then May and June promise to be quite eventful. In just several weeks our first users will be able to register on the platform, authorize and pass the KYC procedure. A multi-currency wallet, one of the main features, will be available along with a payment processing option. Referral program will get a nice bonus to those users who refer Tokenbox to a friend.
The official launch of the platform is also very close. This summer the Alpha- & Beta- versions of Tokenbox will be revealed. They will feature an integration with trading terminal, some built-in analytics tools and rating system. At the end of Q3 demo accounts trading will be finally replaced by real accounts.
Q4 will be very important: Tokenbox platform is expected to launch, fully operational. Users will be able to use an investment account and tokenize their funds, we will provide customer analytics module and internal risk management system. The legal team expects to receive the DLT license of Gibraltar.
So, basically, up until the end of this year we’ll have a fully operational and competitive platform. But this timeline is the minimum plan for 2018. I assume the Roadmap will definitely be expanded at some point, according to the feedback that the team expects to get from the pioneers, those who register first.