Mon. Jan 21st, 2019

Interview with Sanem Avcil – ICO Advisor, Executive Team Member Quantocoin | Humans of Blockchain

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Welcome to our comprehensive interview series – Humans of Blockchain™ where we get the best and brightest to answer a diverse set of questions. 

This series will attempt to clear the air of doubt in the Blockchain space today by focusing on bringing more transparency to the readers. 

Our guest today is Sanem Avcil, ICO Advisor, Team Member at Quantocoin.

Sanem is a Blockchain Expert, Investor, ICO Advisor and an Influencer. Her journey will surely inspire you to take brave steps in life while working smart.

Now lets hear it out from Sanem herself. 

 

1. We would love to know more about you. Your story and how you entered the blockchain space.

Many years ago I read an article on The Economist about Bitcoin that day I believe digital money will take FIAT Money’s place soon. We always had some issues with the banking system and transaction times while paying abroad. After I made my first transaction easily, I started thinking about investing in Blockchain.

Last year (2017) I started investing in promising ICO’s (Initial Coin Offering). While I was investing, I started to share my knowledge on social media than I see that people need my help and opinions. That’s how I began advising for the promising ICO’s.

 

2. Can you tell us more about Quantocoin?

Quantocoin is a revolutionary blockchain cutting edge banking platform for 3.8 billion people. We solve the problem with adoption of cryptocurrencies into normal life.

Quantocoin combine three best world technologies 

  • NFC, QR codes and Beacon in one application (hybrid app). Quantocoin with its QTC mobile app turns every iPhone and Android into a sophisticated Banking platform.
  • QTC mobile banking platform by a combination of the newest technologies transforms smartphones for the first time to one-stop shop even the users are not in proximity to the internet or Wi-Fi and can fulfill almost all transactions. Ideally, the POS will be replaced with QTC bank app.
  • QTC: Easily and immediately on any POS terminals with NFC technology, or through our qtcBeacons and can allow purchases with over 70 million merchants or cash withdrawal at over 3.8 million ATMs worldwide. This has a potential of over 5 billion mobile users.

 

3. What are your views on the current market crashes and their impact on the blockchain industry?

The current cryptocurrency market crash was brought on by excessive speculation. Speculation far exceeded the reality and adoption of blockchain technologies, so once a little bit of time passed and people realized there was no real justification for Ethereum to be worth $1400, it just cascaded from there. However, nearly a year has passed since this bear market began, and during that time blockchain has come a long way.

Effectively, the market will absorb this crash by letting poor projects fail/fall away while good projects, the cream of crypto, will rise to the top. During a market crash, people sell off everything that they don’t consider to be essential, so it’s a good time to see how the market truly values projects.

 

4. Do you think adoption is slower pertaining to blockchain technology? How can we improve it?

The adoption of blockchain technology has been slow only because people do not quite understand what it is and how it can be useful in their lives. To increase blockchain adoption, we need to create more awareness around it in simple terms that anyone can understand.

For instance, instead of explaining blockchain as a decentralized distributed ledger technology, we can call it a trustworthy ledger, or a publicly auditable accounting book. These are easier to visualize and understand for the average person without a sophisticated background in technology.

 

5. What current blockchain projects do you find disruptive?

I can name a few: Banking, Education, Supply-Chain, Healthcare, Government/Bitnation (Decentralized Borderless Voluntary Nation (DBVN) )

Bitnation is the future of the World I think this idea is the most disruptive one. Our World will become borderless with the help of Blockchain for sure.

Supply-chain blockchains like Morpheus are also very promising and disruptive and have garnered lots of partnerships. Upcoming ICO’s that I am watching: Temco

 

6. What are your views about the STO markets? How do you feel STOs are different from regular securities?

The STO market is the next big thing in cryptocurrency. Tokens are undergoing a massive shift and will look very different in a year from now. I think that security tokens are the way forward. Utility tokens have made the case that they aren’t securities since they have used within a blockchain ecosystem. Problematically, most of those uses are just added complications that were implemented only to avoid being regulated as securities.

STOs finally give tokens the freedom to be securities and not have all of these uses baked in to avoid regulations. Security tokens will be much different from regular securities because they have all of the properties of cryptocurrencies, i.e., they’re immutable/trustful/fungible/liquid, mixed with the ownership properties of securities. So really, it’s a best of both worlds situation when it comes to security tokens.

 

7. What role are financial institutions and VC firms going to play in defining the trajectory of growth of the blockchain space?

At first, blockchains were primarily funded by retail investors. That lasted until the middle of 2017, right around the time the Omise Go ICO finished up. From then on, VCs took the reigns in backing ICOs and got the lion’s share of most promising project tokens.

In 2018, big financial institutions like ICE, Goldman Sachs, Fidelity, and TD Ameritrade have come in and are building the regulated infrastructure of the crypto space so that it’s less like the Wild West and more like traditional securities marketplaces.

To that effect, financial institutions and VCs are having as big of an impact on the trajectory of blockchain project growth as they did (and continue to have) in the traditional tech startup space.

 

8. What shortcomings do you see in the blockchain market? How can we overcome them?

The main shortcoming of the blockchain market is an over-abundance of scammy/poor projects. Since ICOs are crowdfunded, people need to do their research. However, since most investors are new to this and the blockchain space itself is unique, many people either don’t do their research well or they listen to others.

This results in a lot of the investor horror stories we hear of and is a significant contributor to the massively impactful 2018 bear market.

To overcome this, we probably need more regulation in the blockchain space which will be coming with the rise of security token offerings.

 

9. With a ton of ICOs failing, how can one differentiate the good ones from the bad ones?

ICOs are failing because investors are becoming more educated and wiser. The cryptocurrency market is maturing, and investors are becoming more sophisticated. Because of that, it’s become harder for ICOs to raise funds without the right mixture of great components successfully.

Good ICOs have great teams with plenty of relevant experience. The team is led by people with a vision that is backed up by time spent achieving greatness on previous teams. Advisors from prominent companies/projects is always a good sign — teams with solid advisement are going to have great connections. Always look for an MVP (minimum viable product) because it shows that the team’s idea is already achievable. Lastly, you want to make sure the ICO has great outreach regarding marketing, social media presence, and is very communicative. If an ICO doesn’t communicate well, then they probably won’t meet their hardcap, and they won’t communicate well with investors, either.

Bad ICOs will usually have anonymous teams or members without experience, no advisors (or sketchy ones at best), no product, and bad outreach. A common tactic of bad ICOs is to pump their Telegram and Twitter numbers with fake followers. It’s easy to tell when that’s the case because their Telegram groups will have thousands of people but little to no conversation. You always want to see an active and engaged community!

 

10. Any last motivational words from you?

Always do your diligence for investment – Stay hungry stay foolish!

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