Cereal’s Road Show in China
6 cities — extensive experience
In June, we enjoyed a rather eventful road show in China. We visited 6 cities: Wuhan, Changsha, Guangzhou, Chongqing, Wenzhou, and Ningbo, where we attended conferences and presented our product.
What was the audience’s reaction?
Audiences were interested in the smallest details of the project as well as the wider industry context; asking a number of questions about the prospects and volume of the market and why the project is expected to be a true game-changer.
“We generated some fantastic discussion. Many conference attendees were interested in the technical aspects of the implementation of our new solution. We also received some questions as to whether there are any China-based Cereal partners. Audiences immediately recognized the existing demand for our solutions from private businesses, crypto entrepreneurs and the mining community. Someone even asked whether Cereal’s services could be used to set up personal mining pools”, — explains Dmitry Mikhaylov, COO at Cereal Finance.
At each conference we were asked when it would be possible to obtain a fiat loan secured against cryptoassets. Many participants noted that the Cereal model is an attractive alternative to the exchange and sale of cryptoassets.
During the presentations, we also explained our intentions to expand our product and infrastructure to the Asian regions and cooperate with local players (credit institutions, exchange offices, potential borrowers). We are already negotiating with potential partners and developing relationships with a range of useful contacts, many of whom we have met simply through networking at conferences.
In the nearest future, Cereal Finance plans to upscale its solutions for cryptocurrency mining farms, and soon we will launch our pay-by-installment mining package for miners worldwide.
How did the community react to the recent fall in crypto prices?
“The crypto community still believes in the long term growth of Bitcoin and Ethereum prices, and are paying great interest to new crypto-based projects that are striving to create solutions for infrastructural bottlenecks. Everyone is expecting blockchain technology to advance. We believe that the rapid growth of the fintech industry will transform traditional financial institutions, and many will inevitably come to implement blockchain into their activities. That is why Cereal is creating an ecosystem of credit products, which are so vital both for new institutional players and the existing community”, — Sergey Vart, CEO at Cereal, says.
What were the hot topics of discussions at the conferences regarding cryptocurrencies? And what solutions are expected to appear in the near future?
Conference attendees noted that as the crypto market grows it is still full of ‘weak’ projects, many of which raised millions of dollars during their crowdsales six months ago. As of now, however, many have already outlived their usefulness. The community is now more likely to support forward-looking and long-term projects, and are more wary of anything that looks like nothing more than a way to make a quick buck.
Many also noted that the current market decline is driving away ‘noise traders’ — those whose decisions to buy or sell are often irrational or erratic — but that this does not mean that the market will not be able to recover. Indeed in many ways it is critical for a healthy market. New institutional players are appearing in the crypto market, who are ready to play long-term. Avowed investors understand that the most profitable investments are made in emerging markets where there’s much room for further growth.
“Short-termist, get-rich-quick companies have no way to succeed in the current climate. It’s time for long-term players to take control.” — Dmitry Mikhaylov, COO at Cereal Finance, adds.
To learn more, the Cereal Whitepaper is available here.
To join the discussion, visit the Cereal Telegram at: https://t.me/cerealico
Cereal ICO website: https://cereal.cryptonomos.com/
Product website: https://cerealfinance.com
