CryptovationX Journey Review: Past to Present
In early 2017, Cryptovation had begun piloting an Asset Management business model through arbitraging cryptocurrency, mainly by observing trends and price differences between exchanges and then conducting trades that yield a profit. The arbitrage concept was very successful as the market was quite volatile and lack of synchronised information. The team then sought to develop some form of automatic system, later known as ‘Arbot’, to report arbitrage opportunities so that it was possible to take advantage of every profitable opportunity without manual calculations and speeding up transaction windows.
By mid 2017, ‘Arbot’ was redesigned and improved for public use and we began plans to organize workshops and share knowledge on cryptocurrency. Cryptovation started gaining media attention and was featured several times on television network such as Thai National Network (TNN). It was also around this time where we achieved several milestones such as reaching 100,000 USD in assets under management. We also joined the Thai FinTech Challenge organized by Securities and Exchange Commission (SEC) in Thailand and came up as one of the finalists for the event. The company had also been inducted into Thai FinTech Association for their sandbox opportunities as a FinTech Startup.
Late 2017 was quite productive for Cryptovation. We had established a partnership with AVA Advisory and Omicron Lab to work on Artificial Intelligence (AI) research and development for cryptocurrency speculative trading. We also partner with the professional financial firm, Asia Wealth Group, to advice us for a better structure and governance. Cryptovation had an opportunity to present at Asian Development Bank (ADB)’s 2nd Asia Finance Forum, and went to Hong Kong for meeting with InvestHK. By the end of December, Cryptovation had 800,000 USD asset under management.
The first months of 2018, Cryptovation was preparing for exhibition at Asia Digital Expo and the preparation of ICO Launch for AI Robo-advisory development crowdsale. Cryptovation had meetings with Bitotem and QCP Capital to partner, and had built collaboration with MIT Asia School of Business. Pondet, CEO, served as a moderator for Bangkok FinTech Fair 2018 as well as meetings with ZCoin, OmiseGo and BitHumb. Cryptovation also had an opportunity to engage with global Blockchain community at Asia Pacific Ethereum Meetup in Bangkok, Beyond Blocks in Tokyo, as well as in World Blockchain Conference 3AM Summit in Macau.
We want to keep the same consistency and the same promise as we started with low risk, high returns and simplicity. So far, the proliferation of ICOs surprised many in tech industry, pushing blockchain companies to raised more than $4 billion toward the end of the year and the trend is looking extremely strong in 2018 . Since the beginning of this year, we have been planning and outlined proof-of-concepts of our ICO project called, CryptovationX (CXA). In 2018, CryptovationX is launching an ICO and our goal is to create an Artificial Intelligence Robot to become your advisors for arbitraging, speculative trading, and ICO investing. For more information on the project please check www.CryptovationX.io
Timeline of activities
After pioneered in blockchain and cryptocurrency from April to October of 2016, we concluded to separate Cryptovation as a separate entity from Everex Global due to different long term visions. We were the core team who started research and develop different business models in blockchain and still continue developing and implementing new business models.
After witnessing massive potential of Arbitrage trading, we had set up an excel calculation model to help with trading. Developed simple website to monitor the opportunity by connecting with API of major cryptocurrency exchanges. This later formed as the basis of Arbot terminal development.
In June, the updated version of Arbot was introduced with UX/UI improvement. Arbot 2.0 was more user friendly. Our team of traders had completed the training and able to manage the profitable fund. Besides product improvement, the risk management model was developed and the sales kit was finally published.
Cryptovation.co had its soft launch at an event organised by Ambassador Coach in collaboration with CoinBX on “How to make money from Bitcoin and cryptocurrencies”. We provided the first workshops on several cryptocurrency topics and specific investments opportunities. The founder and CEO of Cryptovation.co, Pondet Ananchai, were interviewed in July by Thai National News (TNN) and explained how to make money from cryptocurrencies.
Cryptovation.co was officially launched at Thailand Investment Fest 2017 by its founder & CEO, Pondet Ananchai alongside with leading investors in Thailand. After the event, we had received the first outside investments for our wealth management service and reached 100,000 USD Assets Under Management (AUM).
We also signed up for the FinTech Challenge (www.fintechchallenge.info/) organised by the Securities and Exchange Commission Thailand (SEC) (www.sec.or.th/EN/) and we participated in the first round at the beginning of August and able to be qualified to the finals.
Cryptovation was invited to be part of the 1st batch of F13 Incubator by Thai FinTech Association (www.thaifintech.org/) who also sponsored us by facilitating a co-working space to host Cryptovation office at Knowledge Exchange (KX) building. The F13 program was initiated by Thai Fintech Association in order to accelerate fintech industry development and being a testing lab for fintech startups.
The month started by the interview by Thai National News (TNN) on the cryptocurrency regulations in China. As the market went down and many investors had lost their fortune, we had spotted more arbitraging opportunities. By arbitraging, it does not matter if a market goes up or down, as long as there is asymmetric price on different exchange.
On the 21th — Many thanks to the Thai FinTech Association, we had the opportunity to present our company at a booth in the FinTech section of the Digital Big Bang Expo 2017: “Digital transformation Thailand”. We made great new connections and able to show our services to the large group of audience.
On the 27th, FinTech Challenge by Securities and Exchange Commission of Thailand (SEC). As a result, our team successfully made it to the finalist and awarded. Furthermore, Cryptovation had established a closer relationship with SEC and has been actively participated public hearing session about regulation framework which will be effective in later 2018.
As promised, we also organized our own monthly returning event as we continued to master cryptocurrency arbitraging. Many of our participants became our users later on and still making decent profits until today. The event was intended to educate all attendees to gain a better understand of blockchain technology, investment strategy, and promote arbitrage as an alternative investment strategy with lower risk.
One of the questions that we get asked often is how long cryptocurrency arbitrage opportunities would last and honestly, we do not know. We have indication of 1 to 5 years, but in the crypto-space everything is possible. We set a step forward in speculative trading: We closed an exclusive agreement with AVA Advisor (www.ava.fund) and Omicron Lab (www.lab.ai) for Artificial Intelligence (AI) research & development in cryptocurrencies.
On 31 October, the team organized the special event and were able to reach new participants who were just started to explore and discover cryptocurrency investment opportunities. Additionally, we started to collect email from participants for initiating blockchain and cryptocurrency community from the ground up.
Pondet Ananchai had travelled to Manila to represent Cryptovation.co as one of the 13 qualified FinTech Start-ups to present at the Asian Development Bank (www.adb.org)’s the 2nd Asia Finance Forum on FinTech and Sustainable development (www.adb.org/news/events/2nd-asia-finance-forum-fintech-and-sustainable-development) . In this month, we were actively talked to several potential partners for the traditional fund structure.
The conversations seemed promising while many things are moving forward and more and more processes need to keep running, we always make time for our monthly returning event. The topic was the investment opportunities in Bitcoin and cryptocurrencies. Cryptovation explained the arbitraging and HashBX had covered the blockchain mining.
To set-up the hedge-fund structure we finalised a partnership with Asia Wealth Group (www.asiawealthgroup.com), an investment holding company in the wealth management business listed in London. Its CEO, Richard Cayne, is well experienced in the wealth management services. Together with our drive for innovation, business model and Asia Wealth Group’s knowledge and experience in the traditional financial world.
We had two Arbot updates, at each one new exchange got added. More arbitrage opportunities are showing every time. We closed to year with $800,000 Assets under Management (AUM), the exact growth that we wanted.
In the following week, Cryptovation.co team and our partner, AVA Advisory flew together to Hong Kong at the beginning of the month. The agenda was to talk to InvestHK (www.investhk.gov.hk/) about all the aspects and opportunities for opening up an office in Hong Kong.
Because of our enthusiasm after November’s workshop and many requests we decided to do the same event topic, with more speakers and in a bigger location. We were thrilled to see so many people excited to learn about the industry just before the holidays.
We organized a public seminar on “Investment Opportunities in Bitcoin & Cryptocurrencies” to educate investors on macro and micro investments on various viewpoints on cryptocurrencies as well as ways of making profit from arbitraging and mining. We were be able to gain interests from new investors as they invested in our projects.
Starting of 2018, Cryptovation exhibited at Asia Digital Expo (www.asiadigitalexpo.com) along with approximately 250 companies and 20 organizations from Thailand and International. The expo had introduced Cryptovation to more diversified groups of people not only limited to Blockchain community.
CryptovationX or CXA (www.cryptovationx.io) was established with 2 partners, including AVA Advisory and Asia Wealth Group. It aims to utilize Artificial Intelligence (AI) to provide the best one-stop-solution robo-advisor for Blockchain investment with the vision of ‘Wealth for All’. This project will develop iOS and Android mobile application that can answer, assist and auto-trade for user. CryptovationX has prepared for ICO launch as a method of crowdsale for A.I. Robo-advisory development which we had came up with 3 models of Robo-advisor: Arbi, Specto, and Broca.
Besides ICO preparation, Cryptovation had finalised partnership agreement with Bitotem (www.bitotem.io), crypto-fund service in China. As a result, Bitotem is currently using Cryptovation’s arbitrage terminal services to operate their business and has been generating profits for their clients until these days.
We landed a meeting with QCP Capital (www.qcp.capital), crypto-trading for Asia, investment & trading strategies, OTC trading, market-making, treasury services, and ICO investment & support. As a result, we agreed to be partner and also have QCP co-founders to be our CryptovationX (CXA) advisor.
On January 31st, the team organized a crypto-meetup with the theme of ‘History and Investment Opportunity of Cryptocurrencies & ICOs’. The purpose of this event was for educating people how to be disciplined investor in cryptocurrency market.
On the 12th, Pondet was invited to live interview on TNN24 along with Dr. Bhume Bhumiratana, technology advisor to SEC Thailand. The program involved discussions around the topic of blockchain technology and cryptocurrency on various aspects: regulations, investments, and recommendations for Thailand. Recorded video is available on youtube: https://www.youtube.com/watch?v=2BoBAoW_l94
On the 15th, Cryptovation hosted the ICO launch press conference and introduced CXA as the cryptocurrency for Robo-advisory and ‘Wealth for All’ Initiative at Intercontinental Hotel. The event involved discussions about blockchain, cryptocurrency, ICO, Artificial Intelligence, and the future investment opportunities.
On the 19th, Cryptovation had extended collaboration with leading educational institution, Asia School Business in collaboration with MIT Sloan Management School and Central Bank of Malaysia (www.asb.edu.my/). Our vision is to empower the Blockchain and cryptocurrency community by providing educational framework from leading academic institutions.
On the 23rd, The team hosted International Crypto Dinner participated by the following teams: QCP Capital, Asia Wealth Group, OmiseGo, Quantstamp, Beyond Block, and other Blockchain experts. The agenda of the event was to acquire more international partnerships since the technology will not be limited to the few but we wanted to create borderless wealth for all.
On the 25th, Cryptovation participated in Asia-Pacific Ethereum Meetup (https://www.meetup.com/Asia-Pacific-Ethereum-Community-Meetup/events/lhnwgpyxfbhc/), a non-profit event aiming at promoting technology exchange and connecting Ethereum developers to community members, as well as creating opportunities for users to know more about the excellent Ethereum-based projects. The team had a chance to meet and had a discussion with the Ethereum founder, Vitalik Buterin.
On the 25th, Darius Sit and Joshua Ho, co-founders of QCP Capital, our Singaporean partner visit our office together with Daniel Hung, co-founder of ICO China, (www.ico-china.info), who later became our partner.
On the 28th, the team had organized CryptovationX Meetup with topics such as ICO launch, cryptocurrency investment opportunities and introduced HashBX (www.hashbx.com) as the official partner.
Professor Rajesh Nair of MIT-Asia School Business (http://www.asb.edu.my/rajesh-nair/) had visited Cryptovation team and had joined as a special advisor and conducted the ‘Design Thinking’ training to the team. As a result, the team had developed and implemented design thinking framework to company’s products and services.
IT Spear Sdn Bhd (www.addvaluez.com/) CEO and team visited Cryptovation office and established collaboration and partnership on software development. IT Spear is a software consultant for Kyber Network. The team has more than 20 engineers in KL, Malaysia, and Chennai, India. Later in March, Cryptovation team had a chance to host IT Spear team with Professor Rajesh Nair and Bitotem team at the Cryptovation head office.
CRYPTONIST (www.cryptonist.co) has emerged as an entity that will empower blockchain community in Thailand. The goal is to enable Thai blockchain community with outstanding contents through CRYPTONIST, we believe Thai people could potentially receive cryptocurrency-related information for a much quicker than any other media, Cryptonist is not only the media for blockchain community but also an academy for everyone who have interested in blockchain and cryptocurrency. Cryptonist is also the space for collaboration and creation of new ideas.
CRYPTONIST invited CryptovationX to join the event, ‘Revolutionary Digital Trading Innovation’ which joined by Pondet Ananchai, Founder and CEO of CryptovationX, Shahar Rabin, co-founder and CEO of Capitalise.ai, Pipat Rungruang, founder and CEO of Skynet, Niran Pravithana, CEO of AVA Advisory, and Sathaporn Patanakuha, founder and Managing Director of Smart Contract Thailand. In this month, the team met with Zcoin (www.zcoin.io/), one of the leading blockchain developers in Thailand, at Crypto dinner. By the time, the team had accumulated a number of people in blockchain and cryptocurrency community in Thailand as the plan to establish CRYPTONIST community.
On 18th March, The team met with Zcoin (www.zcoin.io/), one of the leading blockchain developers in Thailand, at Crypto dinner. By the time, the team had accumulated a number of people in blockchain and cryptocurrency community in Thailand as the plan to establish CRYPTONIST community.
19th March, Pondet, CEO, on behalf of Thai FinTech Association (www.thaifintech.org/) was a moderator for FinTech stage in Bangkok FinTech Fair 2018 at Bank of Thailand (BoT). The team had strengthen relationship with the BoT and Cryptovation was witnessed by many Thai government officials. As a result, Cryptovation was recognized by regulator which also legitimized the status of the company.
Pondet had a chance to meet OmiseGo (OMG) (www.omisego.network/) team. The team includes Thomas Greco, advisor to Ethereum, Cosmos, and Polkadot, and Visit Yindisiriwong, Country Manager of Thailand. The team had a chance to consult with the OMG’s team about procedures of preparing a successful ICO launch.
On the 31st, CRYPTONIST Meetup is a monthly event hosted by CRYPTONIST, to educate people with a better understanding in technology and sharing knowledge to the public.
On the 5th, Pondet has invited to attend Beyond Block (www.beyondblocks.com/) Conference Tokyo, Japan, and were able to present Cryptovation’s products and services to community in Japan. Since cryptocurrency has gained its official status, Cryptovation has recognized Japan as a crypto-friendly country for establishing and expanding our businesses.
On the 13th, Cryptovation landed a meeting with BitHumb Coin (www.bbusterz.com/) team in Singapore. BitHumb (www.bithumb.com/) is the leading cryptocurrency exchange based in South Korea. Partnering with BitHumb will enable the penetration of Cryptovation services into South Korea community which is one of the most Blockchain-adopted territory.
On the 21st, CRYPTONIST Dinner was participated by various notable blockchain companies in Thailand such as Smart Contract Thailand (www.smartcontractthailand.com/), HashBX (www.hashbx.com), Bitwalex (www.bitwalex.com/), Siam Blockchain (www.siamblockchain.com/), Bitcoin Addict (www.bitcoin-addict.com/), Zmine (www.zmine.com/).
On the 24th, World Blockchain Conference 3AM Summit (www.wbcworld.com/), Macau. At the event, we were connected with exclusive crypto community in Macau and able to promote CXA project along with discovering for a new potential business partner.
At the end of April, CRYPTONIST Meetup had educated people who interested in cryptocurrency investment on various topics such as history of cryptocurrency, how to choose a secured wallet for cryptocurrency, and strategy for generating sustainable profitable investment.
In May 2018, CryptovationX team has been preparing and be ready for the ICO launch. CryptovationX team was invited to the CRYPTONIST Seminar, the event that aim to educate Thai people about cryptocurrency. ZBTH has partnered with CRYPTONIST hosted ZBTH x CRYPTONIST Crypto & Blockchain Event on May 18th which included 3 sessions: ZBTH Grand opening, CRYPTONIST Seminar and CRYPTONIST Dinner.
CryptovationX was able to conclude partnership with ZB. ZB Thailand is the branch office of ZB Network Technology Limited in Thailand. ZBTH Grand Opening was the collaborative event and press conference between CRYPTONIST and ZBTH to promote blockchain and cryptocurrency projects which participated by more than 150 participants.
ZB.com a chinese crypto exchange and a trading app accessible to traders on tip of their fingers is launching a new branch. The full-fledged brand of ZB.com will be opening in Thailand with plans to make itself a Southeast Asian Crypto Trading Hub.
The event was launched during the announcement by Thai Government that outlines a new regulatory framework for cryptocurrencies and ICO. This made ZB.com to begin a crypto trading platform in Thailand. For Thailand, the regulations claims to penalize crypto traders if they fail to register within a period of 90 days. However, the ZB.com have taken a step forward to initiate a branch in Thailand. The Co-founder of ZB.com David Lee, says that the company is planning to explore its digital currency trading platform in Thailand. Their goal is also to provide knowledge and understanding of blockchain technology and investment in digital assets to Thai investors. The investors maintain a recruiting strategic partners to fascinate more foreign investors to invest in Thailand.
Pondet Ananchai was speaking about ICO the global disruption.
At the event, Pondet Ananchai, CEO of CryptovationX, was invited to be a speaker on topics of ‘Thailand’s cryptocurrency tax and regulation’ and ‘ICO the global disruption’. At the end, he had a chance to host a short discussion for the public on the latest regulation in Thailand and had suggested many solutions to the audience.
Pongsakorn Rujanaporn with David Lee, CEO of ZB Global.
CryptovationX’s Front-end Lead, Pongsakorn Rujanaporn, was invited to ZBTH Grand Opening Day. ZBTH is among the top 3 China’s cryptocurrency exchanges in term of volume and it was such a valuable time to discuss about further plan for CryptovationX in China with David Lee, ZB CEO.
After Thailand has released cryptocurrency regulatory framework, Pondet was also invited to join the live interview ‘CRYPTO Talk’. He had summarized the overall impact of this regulatory framework for crypto-related businesses in Thailand which he believes that it is a positive action because this means Thailand has officially recognized the status of cryptocurrency and it became the first country in Southeast Asia that has outlined a lawful act on cryptocurrency. However, tax regulation will cause some negative effects on capital gain for both foreign investors and local investors who does not want to pay tax as much as 15%. Moreover, he had promised that CryptovationX project will fully comply with Thai law since the company is operating in Thailand.
As part of the F13, CryptovationX was invited to pitch on Fintech Demo Day stage at Startup Thailand 2018. The event was organized by the NIA (National Innovative Agency) between 17–20 May 2018 at Queen Sirikit National Convention Center under the theme “Endless opportunities”. It is internationally recognized as one of Southeast Asia’s largest startup events with the participation of over 400 startups along with angel investors and VC from around the globe to connect, to collaborate and to discuss on future business technologies.
#CryptovationX #CXA #RoboAdvisory #Airdrop
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