Blockchain Technology Will Wipe Out Half of Employees in Traditional Financial Sector
An interview with the founder of FEX Exchange
Dozens of new exchanges have been springing out in 2019 and joining in the fierce competition which causes failures and issues. Investors and projects could not meet the need of cryptocurrency exchanges.
Up to now, the total number of cryptocurrency exchanges merely in China has exceed 3000. However, cryptocurrency exchanges collapse and projects failure happen everyday. Against this backdrop, it is important to keep an eye on those low-key but credible exchanges.
FEX Exchange was founded in last bull market of cryptocurrency in 2017, with extraordinary commercial acumen and steady operational style, survives in this competitive battle where 90% exchanges collaped that were established at the same time.
The following is the content of the interview with FEX Exchange founder Roland.
Interviewer: FEX Exchange has been running for two years, but few people know it. Many people are wondering how does FEX survive from this competitive market?
Roland: As you might know, FEX Exchange, registered in Hong Kong, literally has laid out a fully eco-system in crypto industry, including mining chips R&D , mining pool, cloudy computing, media and press and cryptocurrency exchange etc. Back to the question, actually, we’ve spent two years on building up our talents team, optimizing our products and strengthening our position in order to overcome challenges in this highly competitive yet so promising industry. Those who laugh last, laugh longest.
After two years of developing and growing, now we are ready and welcome all partners and users across the world to join us for the next step.
Interviewer: Do you have any profitable businesses right now or just burning money like many other companies in the field?
Roland: We did suffer for a while at the beginning, but thanks to our investors and the group. We gradually figured out the evolving path and direction of this market , we’ve been focused on bringing those high-quality projects into China, along with offering holistic incubation, operation and consultation services for those potential projects. Now, our business are in good profitable condition.
Interviewer: People in this industry actually know rather little about you, could you introduce yourself briefly?
Roland:I majored in finance throughout my undergraduate and post- graduate in UK. Then I started off my career as a fund administrator at Investment Banking Department in HSBC. After that, I launched my own PE fund, mostly investing in the primary market in China.
In theory, The financial market can be categorized into three types in terms of effectiveness: Weak, semi-strong and strong-form market. Blockchain technology, from this perspective, has the capacity to cultivate a perfect financial market which is transparent, open, fast and free of transaction costs from aspects such as underwritten offering , transactions or asset delivery.
For example, a traditional stock trading involves at least four steps which is unreasonable waste of time and cost. Blockchain technology can eliminate all these inconveniences thoroughly. Thus, it will reform the whole financial sector And this reconstruction may cause more than half of the financial practitioners will be replaced.
To advance with this unstoppable technological innovation wave, I threw myself into blockchain industry without any hesitation.
Interview: Are you worried or anxious about the development of FEX exchange in this turbulent and chaotic market context?
Roland: Not at all, our exchange has survived from this competitive market last 2 years, and our diversified business strategy have lowered the operational risk as well.
Unlike the tight-knit and fast-paced business culture in China, overseas blockchain projects devote more efforts and money to R&D and utility applications, striving to integrate blockchain technology with entity industry to address some intractable issues instead of considering blockchain as a sort of speculation That’s the reason why we are positioning our market in global and introducing great foreign projects into China, which is beneficial for domestic users and investors.
Interview: Could you tell us what’s your next move?
Roland: Our parent company has been engaging in building a whole Blockchain eco-system for a long time and now we have overseas power plants, mining pools, chips and etc. Those are exactly what investors needs and how we can secure the interest of investors. And the next is introduing and adjusting the model of traditional primary and secondary financial market into crypto maket, and continue scouting and incubating more potential global blockchain projects which may become unicorn companies.
End of the interview.
PS:There’s no doubt that there must be some exchanges will thrive midst current chaotic industry scene. We hope FEX Exchange will be one of them and one of the tops!
Original interview link:
Telegram Group: https://t.me/fexhongkong
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