Interview with crypto-exchange BitAsset CEO Robert Hu, the emerging interests of new investment tools among millennials
Blockchain has impacted industry routine, yet at the same time brings new light to the investment market. The variety of cryptocurrencies available serves as an alternative source to get affluent. Moreover, what are the incentives that best attract investors when they undergo crypto exchanges selection? What could be the niche in addition to security issues?
With the availability of over thousands of crypto exchanges global wide, Blockcast aims to deliver corporate philosophy that improves on the transparency of team members through direct interaction with the founders of crypto-exchanges; hoping to fulfill investors’ expectations, and in turn translate to making the “wise decision.”
Blockcast has arranged an exclusive interview with Robert Hu, the co-founder of BitAsset, the crypto exchange that was launched officially on August 10th. Robert would be sharing his crypto journey in addition to unfolding the forte and strength of BitAsset that the investors have the most concerns about.
Steps out of comfort zone to challenge the new crypto market
Robert, the co-founder of BitAsset, manages global investment planning during his time with J.P.Morgan, the leading private bank that specializes in wealth planning and management for over 100 years, as well as other financial institutions for nearly ten years of experience accumulated.
What has moved Robert from the traditional finance sector to the world of cryptocurrency?
With over ten years of entrepreneurial and financial skills from United States, Hong Kong, Shenzhen and Taiwan, Robert is an expert at conducting long-term investment analysis (hence advising for high net-worth (HNW) individuals and financially focused listed companies). Robert understands what investors are truly looking for, and he realizes the emerging interests of new investment tools among millennials, which facilitated the formation of BitAsset.
‘I am a hands-on person who likes to interact and manage personally. The reason why I chose a crypto-exchange to begin with is that I wanted to better understand all consumers, which would allow us to create and deliver products that best suit all their needs. This is the experiences I have accumulated throughout my time in the finance industry as well as my forte. Crypto-Exchange is the platform which could relate to users’ feedback most efficiently and easily.
The backbone of the society today is the youngsters born in the millennial generation, and the world this generation of people is in contact with are no longer the same as before; the values they uphold are also very different from the conservative past. The acceptance of a new idea is also high. People in the past chose to save up their hard-earned money, and they accumulated wealth through savings. However, the youth tends to achieve higher returns through different means of investment.’ Robert shared.
Robert believes that many gains accessed to a variety of information due to the advancement of technology and the internet since they were young, new ideas are therefore highly acquired. ‘The power of technology is leading our world today, from the internet to blockchain technology. It is very fascinating, and that is exactly the reason why cryptocurrency is broadly welcomed by the youth. I think blockchain and cryptocurrency are the future trends. The technology and industry, in general, are yet to be fully developed and there are still rooms for improvement. Blockchain and cryptocurrency are believed to be the future of the world.’ Robert said. Robert is the evangelist of cryptocurrency and blockchain who has shown a great sense of belief throughout the interview.
How does BitAsset outshine others?
Cryptocurrency has emerged as the newest investment choice. Which has caused the demand for crypto-exchanges to raise. How does BitAsset outshine others to attract investors? BitAsset aims to create a trading platform that is fair, professional, secure and friendly with the corporate values of contributing, comanaging and sharing that allows all users to enjoy a series of comprehensive digital asset trading services with the ideas of ‘contribution and social.’ Mutual sharing and feedbacking would then boost the development of blockchain and cryptocurrency.’ Robert said. We notice how BitAsset values fairness and interactions with users from the previous statements whereby Robert further explained that ‘When it comes to ‘market,’ there would always be the unexploited if you dig further wholeheartedly.’
‘For instance, user-base and transaction volume would be focused during the early stage of development. We seek strategic partners from the market as the demands for financial products vary, and they provide the market with transactions volumes or liquidity in exchange for double transaction fees returned or other benefits. As the platform runs stably and well-established, our platform token would be issued to stimulate and drive our users’ participation, i.e., the idea of ‘contribution means mining.’ In general, in addition to the financial products that we offered and superior service experiences delivered, our platform is promised to innovate. As the transaction itself is rigid, there shall be some business highlights to motivate users at all levels to participate more actively. The issuance of our token falls within our product planning, these ideas we held on make BitAsset a more prudent and competitive exchange in comparison to others.’ Robert told Blockcast.
A Team with a solid financial background to deliver comprehensive services
The core team of BitAsset consists of experts with experiences in global banking and exchanges, to what extents do these experiences benefit the investors?
‘Since the members of our team are mostly from the traditional finance sectors, I think on top of offering a more selective investment portfolio and a more professional information analysis would be “establishment of rules.” It is essential for the platform to develop trusts among all users especially now with the lack of transparency and fairness regarding the token-listing guidelines and user transactions. BitAsset is confident to create a higher level of trust within all users by having a team from Wall Street that is well equipped with finance knowledge. Our team has designed the underlying structure and those derivatives. In addition to spot trading, we are capable of developing a series of related products and achieving products variation which would be expected to release in 2018 Q4.’ Robert shared.
As we chat along, it has come to the discussion of the recent hot topic regarding the rules of token-listing. There are over a thousand cryptocurrencies available, the due diligence and token-listing procedures BitAsset undertakes are also the key concerns for many. Robert laughed and mentioned lightly that listing had been a very sensitive topic for crypto-exchanges.
‘Our users here at BitAsset own the rights to decide whether a cryptocurrency gets to list. However, the rights of all users would weigh differently according to their contribution to the platform by setting a limit. By doing so, it has emphasized the core idea of how BitAsset encourages decisions from two ends but rejecting all possible decisions that were made by capital interests, and to an extent shutting down possible shitcoins.’ Robert further explained.
The regulating process can be shortened and benefited from a team with solid financial background. The managing team and company behind the exchange are also the must-know to all users while the transparency of the managing team usually would affect user participation.
‘Chase, our CEO, Bella, the CSO and I are all from the traditional financial institutions. Tai, our CTO, and Luman our Chief Product Manager come from a global popular stocks exchange and have led to a very competitive and experienced team. The core team pitches BitAsset as “a social interactive driven exchange that offers a high standard on par with traditional financial institutions.” What exactly does it bring along with a servicing standard on par with traditional financial institutions? We think that the exploration of higher efficiency and professionalism can fulfill the customized needs from an ordinary user to high net-worth (HNW) individuals and institutional users. The professionalism of product and services are two crucial areas.’ Robert said.
Focusing on Taiwan, Korea, Hong Kong and North America markets
Robert mentioned that the account management team has been deployed in several key regions and is expected to launch the services from Taiwan, North America, Hong Kong and South Korea.
‘We currently have a team of account managers in several key regions worldwide, hoping to provide our clients with 24/7 consulting services. On the other hand, the so-called social interaction in large scale is actually for a fairer and friendlier platform building by incubating the concept of blockchain whereby everyone gets to participate and co-govern.’ Robert emphasized.
Robert further emphasized that the primary consideration for the choice of countries are the following. First, adapting to local conditions. While we expand on each region, we shall respect the local market and habits besides global strategies. For instances, since Hong Kong is a crucial financial hub internationally, we focus on the high net-worth (HNW) individuals for this market. I have understood from my previous colleagues at private banks where family funds and HNW clients acquired a greater understanding in the crypto market far beyond our imagination. We have already been working with some family funds and would continue to explore different ways to collaborate further. Furthermore, the account management team and BitAsset currently have their core clients service team like that of private banking in several major regions. This team is assigned to different regions to provide 24/7 instant consultation, guiding from account opening to the entire flow of transaction strategy. It can be understood in the way that our team is on standby almost at all time to assist users in solving problems. There are already 10,000+ users now.’
Robert summarized the journey of founding BitAsset as we wrap up the interview.
‘I think the team is the key factor to make anything happen, and a quality team is the reflection of worldview, execution and tactic.’ — Robert Hu, Co-founder of BitAsset.
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