Interview with Kelvin Coelho, Co-Founder and Project Lead for MEvU
Hey everyone! Today we are pleased give you an interview with our Co-Founder and Project Leader in Kelvin Coelho. We hope you enjoy it!
Thanks for taking the time today Kelvin. How are you?
Kelvin Coelho: I’m going great! Thanks for having me.
Where did the inspiration for MEvU come from?
Kelvin: I had the idea for MEvU in the summer of 2015. As cliché as this sounds, MEvU came to me in a dream that I told my fiancé about directly after I woke up. I then realized, this was my passion, and I had to build our dream. I eventually met up with a friend of mine who at the time was working on an AI startup and also running a meetup for Ethereum. He told me about his classmate named Vitalik Buterin and how he quit school to build a blockchain that uses smart contracts. He went on to say how MEvU would be a perfect use case for it so I went from there.
Tell us about MEvU — what is the project exactly?
Kelvin: We are building a platform and network to facilitate a system of peer-to-peer betting which allows users to compete directly and depend less on third-parties than traditional systems currently do. Currently, players either have to make bets at unfavorable odds with legal bookmakers or run a risk of nonpayment or legal trouble with illegal bookmakers. MEvU is a wagering ecosystem that prevents both of these downsides, protecting the best interests of all participants. Say there’s a soccer game coming up, and a bookmaker has one player betting $500 on the home team, and another player betting $500 on the away team. Those two players are basically betting against each other. So, when the bookmaker pays the winner, they’re just paying them with the loser’s money and taking a cut for doing nothing except making sure that the bettors are getting paid. MEvU does exactly this, but never charging more than 3%, compared to the industry standard of 10%. When you’re betting hundreds or thousands of dollars, that difference is meaningful — which is why this will make a big difference in how bets will be made.
How does MEvU differentiate itself from its competitors (if there are any)?
Kelvin: Our main difference is the peer-to-peer aspect of our platform. There are numerous other services operating as a “traditional” sports book. However, our platform simplifies and personalizes the online betting process by forming bets between two players and allowing bets to be placed in a major crypto “ETH” instead of our native token. Our focus again is keeping things simple and fun.
What were the biggest challenges in the industry you had to overcome?
Kelvin: There has been a lot of confusion among regulators as to whether cryptographic tokens should be deemed securities. In my opinion, there are some cases where a label of security definitely applies but the lack of clarity has made it difficult to move forward; especially for teams like ours who consider our token as a functional part of our platform first and foremost. Other challenges specific to working in this space are such that of specific quirks which come with the blockchain territory. I won’t list them all here but there are definitely some different design choices that must be made.
What’s next for MEvU? Do you have plans to grow, expand or diversify?
Kelvin: We have ambitious plans for growth since our platform becomes more successful as the size of the network grows. We will also diversify as we grow by adding casino style mini-games and other types of bets all backed by smart-contracts. Together with our partners we have created a marketing plan that we are confident will penetrate our target market and help us acquire users.
Tell us a little bit about you personally. What is the book (or books) you’ve given the most as a gift, and why?
Kelvin: Think and Grow Rich by Napolean Hill. This book was the first of many books that has brought positivity into my life and expanded my way of thinking. I have gifted this book to my closest friends and my immediate family members and many have continued reading books similar to this.
In the last 5 years, what new belief, behavior, or habit has the most improved your life?
Kelvin: Waking up first thing in the morning and writing down ten things that I am grateful for. This puts in me in the right mindset to begin my day.
What is an unusual habit or an absurd thing that you love?
Kelvin: I would play in Professional esports competitions. I started streaming my gameplay and really enjoyed it, in 3 months I averaged around 200 viewers watching me play Rainbow Six Siege on PS4. Now I play wagers on fortnite and PUBG for fun when I have some free time.
What advice would you give to a smart, driven college student about to enter the “real world”? What advice should they ignore?
Kelvin: Never stop learning. Pay yourself first and ignore finding a “secure” job. surround yourself with people who have been successful and learn from them because you can learn a lot quicker from their mistakes than from your own.
Thanks for taking the time Kelvin!
Kelvin: Thanks for having me!
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