BitcoinLinux recently got the opportunity to interact with Dmitry Nazarov, the Chief Executive Office of Genesis Vision. Excerpts:
BitcoinLinux: What is Genesis Vision all about?
Dmitry Nazarov: First off, Genesis Vision is an asset management platform, that uniquely unites all of the market participants into a single ecosystem.
If we were to describe what our platform is about; in broader terms, it would sound like this – we believe that we’re creating a universal marketplace for people willing to monetize their trading skills, as well as investors, seeking a passive income. It’s an open market of money-makers, so to speak. Just like Craigslist or eBay created services, that connected people willing to buy with people willing to sell, we are creating a service that would allow investors, who don’t have the necessary skill or knowledge to carry out trading operations, to invest funds into skilled fund managers, all backed up by blockchain and smart contracts.
A basic premise in the theory of evolution is that species must adapt to a changing environment in order to survive. This holds true for companies as well as flora and fauna. We believe that we are creating the next logical step in the evolution of the asset management industry.
What benefits can traders and investors get from Genesis Vision?
We are creating a 360-degree solution that benefits all of the market participants.
Benefits for investors, except for obvious examples like passive income, include complete transparency, and an internal exchange, which gives an investor a level of control over their funds within the framework of an asset management module.
We seek to offer our investors not only everything, that a regular existing PAMM would offer, but more. Not only a skilled fund manager of your choice operating your funds but to also have the transparency and integrity, associated with the nature of blockchain technology.
As for managers, everything is quite simple as well. Apart from more funds to manage, which inevitably leads to more income, managers can monetize their skillset, using our platform, and receive income both from more funds under management, as well as in managerial fees.
But that is far from it since you could have already gotten that from a regular asset manager.
The most important benefit that we see for our managers is the fact, that only their skill speaks for them. You don’t need to care about the marketing, you don’t need to care about a website, staff, reputation, anything. The only thing you need to care about is your consistent good results. In a fair and open market, your figures will do the talking.
Are exchanges interested in joining Genesis Vision? If yes, can you name them? If no, what’s your approach towards adding them?
A simple answer would be yes, but unfortunately, we cannot yet disclose any particular names, due to NDA. But why wouldn’t they want to join?
Our system does not jeopardize their own clientele. It does not tarnish their brand. All they receive is the increase in trading volumes, the most advanced PAMM system, integrity from the third-party verification of their trading practices, as well as a bit of exposure. It is the true definition of a “win-win situation” in our book.
As for the approach that we choose towards adding new brokerages and exchanges, it always stays the same. We want to develop a product, that will attract them like a magnet. We don’t need to have a headache over the approach, as long as we develop the platform equivalent of the “offer you can’t refuse”.
What about your new project Genesis Markets? How will it change the crypto trading market?
Genesis Markets is a crypto broker and it’s one of a kind, the first of its kind in fact! It is not only the first crypto broker to introduce altcoin trading using the most advanced and eminent trading terminal MetaTrader 5, that is the choice of millions of conventional traders all over the world, but it will also use the aggregation of order books and trading instruments from different exchanges, connected to the broker.
You all know, that crypto exchanges have a specific roster of cryptocurrencies, that changes with every exchange. You all know the headache of transferring your coin stacks from one exchange to another, just because your token of choice is not being traded on your current one.
And you definitely know the struggle of selling a big stack of coins on a relatively small exchange, that lacks liquidity.
Well, with the help of aggregation, Genesis Markets solves all of this. All of the coins and tokens, as well as order books from multiple exchanges, are united, merged and accessible from one single destination – the Genesis Markets crypto broker.
You speak about the use of blockchain and smart contracts. How exactly are you implementing them within Genesis Vision? Also, why are they needed to be integrated into the first place?
Blockchain and smart contracts are the backbones of Genesis Vision. We firmly believe that the integration of these technologies within the FinTech industry is the most felicitous choice.
Simply, it just works.
We use the IPFS protocol to record the trading history of all of our managers. This way we provide all of the necessary tools for our investors, to ensure they can carry out their own due diligence. Smart contracts are used for the distribution of profit, which makes the process automated and does not change the trading process of the manager in any significant manner.
Back to the question of the necessity of these technologies. Blockchain gives us, and most importantly our investors the desired transparency, which the conventional asset management module so desperately lacks into days world.
How does a novice differentiate between a good trading strategy and a bad trading strategy? What if the experienced traders we hire – pardon my French – fuck up?
Yes, that can and will happen from time to time, there is no denying that. But think of our platform as your classic exchange, but rather than goods, you invest in people. Some of the companies you have invested in will flop and go bankrupt, while others will show you multiple digits of profit.
The same logic applies here – there will be good and bad managers, and the free open market will decide which ones are which. But nothing stops you from differentiating your investment, hedging yourself from the possible risks.
One more thing you should also take into consideration is the planned introduction of the internal exchange. It’s a place, where our investors will be able to purchase and trade the manager tokens. This will give our investors an additional leverage, where they will be able to sell manager tokens to recuperate some of the losses, or even gain significant profit.
For differentiating a good investment program from a bad one, we have different levels of analysis, depending on the investor’s experience. Starting from the levels of the program, ending with complete statistics on transactions in the blockchain. Absolute profit figures, graphs, levels and overall rating among all managers will be easy to grasp, even for a novice!
How does your platform fare in terms of regulations? Are you only crypto-based or is there scope for fiat-conversions?
Unfortunately, it is too early to talk about this, both due to NDA and the current crypto climate. One thing we can say for sure is that we are planning a fiat gateway, and we’ve been in negotiations for quite a long time now.
So even though we can’t provide our investors with any certain ETA at the moment, we are sure that it will eventually be possible to enter Genesis Vision using fiat currencies.
As for the regulation, it is definitely a question of huge importance, not only for our investors and clients but mainly for brokers, exchanges, banks and other miscellaneous companies we will be working with or in tandem with each other. They require the highest standards of regulation and licenses, and we will be able to provide them with anything that is required for a full-fledged and profitable cooperation.
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