Cryptix taking patient approach to building peoples’ financial marketplace

Cryptox AG taking a holistic approach to building “people’s financial markets,” which benefit all equally and are based on blockchain technology and distributed ledgers.

Its motto is “Marsadoption,” a term coined to remind the Cryptix team while also showing the world how important a comprehensive blockchain -enabled ecosystem is.

How Cryptix describes a blockchain that benefits SMEs

Founder and CEO Bernhard Koch has built the company for a quarter of a century, beginning in IT, hardware and software during the early ’90s boom. After several years away from the sector, he returned to develop cash, loyalty, and business intelligence systems for former clients. The new ones are growing into financial and marketing services, and Koch works throughout Europe, Asia, the Middle East, and Hong Kong.

During a break in 2015, Koch immersed himself in blockchain technology. She is investing in the project and is considering starting some of her own.

During that time he saw many people fall victim to ICO fraud. Such incidents distract people from the potential of the blockchain, he said.

Koch decided to make a better rat trap.

Because of his experience of founding and working with SMEs, he knew he could benefit from the blockchain. Still, they need help to achieve what could be seen as the next revolutionary technology. More important companies have the people, knowledge, and money to dedicate to the blockchain. They will then sign up first and get the most benefit.

This is unfair, thought Koch. He wants to build Amazon for blockchain -based financial products, which will benefit SMEs that provide jobs, growth, and benefits to the community.

The ecosystem will use blockchain, smart contracts, and DeFi everywhere, with people benefiting from the technology without knowing what’s going on.

Blockchain’s lack of unique talent and how Cryptix beats it

Koch’s first challenge was to find a skilled workforce. He was fortunate to quickly find a strong IT and math professional, but with his new field, you have to take a chance.

“We knew we had to finance this; we had to start our own,” Koch said. “And we have to learn by trial and error, more or less. I went to a consulting firm. I also did workshops with the big four, which is the biggest mistake. Don’t ask anyone when you create technology that could threaten their business model.

The pandemic also increased talent competition, Koch said. With people who can work for anyone around the world from home, he sees many European developers being recruited by well -funded American companies.

To combat this, Cryptix has opened several offices across the EU in regions known for their technological talent while also hiring remote employees.

So how do you develop talent? Make it fun, Koch said. Create use cases that engage people and challenge Cryptix partners with them Austrian Blockchain Center, which is affiliated with several Austrian universities and research groups. He developed a use case that drew a bright mind through tests and related research.

The benefits of building a blockchain service platform

Koch said some of the blockchain -related flows are developing independently, citing payment tokens, cryptocurrencies, and cash applications. Together they will be stronger than they both are.

“We know that if we integrate on one platform, all the different pillars that are typically different companies, we can integrate those services differently from a usability perspective.”

Imagine shopping and earning quick money at the point of sale from merchants whose systems are integrated with your network. These are tokens stored in the same wallet that you used to buy them, which is the same as your investment. Maybe the funds are used for the next grocery or investing in real estate.

“You only touch one app,” Koch said. “You’ve never used anything else and you don’t know how to solve a blockchain.”

While Koch can easily see a time when blockchain-based systems were ubiquitous, similar to Grandma’s ability to use the Internet, we weren’t there yet. People need to be educated and shown that there is a better way. The results are encouraging, but easily accountable, and users need to know their responsibilities.

Koch’s goal was a lofty goal, and he needed time to reach it. Before jumping into the market, they need to develop an educational strategy. How many young companies spend on these promotions? Cryptix does not do ICOs because it wants a proven product before considering the funding method.

Privacy vs. transparency: What is the right mix for a blockchain -based system?

During the pandemic, many people first used digital commerce because they had no choice. Ad campaigns or trials do not change. Are there similar trigger points for crypto and tokenization?

It may be Libra, but a well -publicized privacy issue is ruining that chance, said Koch (he is a supporter of the lawsuit against Facebook in the European Union). It could be the central bank’s digital currency (CBDC), but regulators must act with caution or run the risk of damaging its influence.

“Hopefully the people involved in making that decision are careful in a way that they know they’re overcoming the last part of the freedom that still exists,” Koch said. “You know, when a cashless society comes along and every transaction is always transparent, there’s only one key to preventing people from doing anything. I’m not sure if our politicians are anywhere at that level to be able to make decisions that are considered (like).”

What is the appropriate mix between the privacy that some early adopters want and having enough oversight to make regulators?

Koch decided early on to develop Cryptix in a way that assumed that regulation would come into play when building user protection.

Cryptix has developed smart contracts that protect customer anonymity while assuring regulators that everything is on the books. Some tools can identify whether funds are coming from gray or black sources and prevent them from entering your ecosystem. Conveniences such as crypto-to-fiat exchanges and AML checks are also available.

How Cryptix became a business builder

Cryptix is ​​certainly envisioned as a service to help SMEs, but the business building component has long been organic, Koch said.

He began working on a Layer 1 blockchain project and, in the process, obtained a brokerage license. She gained knowledge of business planning, marketing, product and project management, quality assurance, and legal and capital markets. As my skills increased, clients began to ask for help.

But Cryptix doesn’t just take clients, Koch explains.

“What differentiates us from ordinary business building houses or venture capitalists is that we don’t sign jobs to collect a lot of jobs and create a portfolio there. We don’t do it for money or out; we (work with) internal and external clients only when we know they are will fit in with this wonderful financial market version.

“So we’re more selective, and then we also invest and make sure you have a different pillar of specialized services that are included in the larger version of the financial markets in the end.”

The industry needs regulatory clarity, Koch said. It is especially needed around tokenization, which will be an area of ​​hot demand over the next two years.

“You want to build a stable base, and we’re still building a stable base phase.”

A different way to look at crypto energy issues?

The European Union recently voted to ban working evidence crypto mining models such as those used by Bitcoin. While criticized by many for ignoring the amount of energy, the method is gobble. Koch reasons that it makes something bulletproof; it’s worth the investment.

“It’s really easy for this polarization,” Koch said. “I don’t feel this is necessarily discussed in a fair scientific way.”

How many businesses bring deposits into the bank every day, Koch asked. How much energy is consumed in such an activity that is no longer needed?

How Cryptix’s Equito connects SMEs with investors

Last August, Cryptix opened Equito at Crypto Valley’s CV Summit. Equito connects SMEs with potential investors through digital bidding and EEA compliance. It started with more than 7,500 potential investors, € 146 million in project funding in the pipeline, and a list of fintech partners.

“Equito is a great addition to Cryptix’s portfolio and captures the vision of making People’s Financial Markets, a network of modern financial service providers, more advanced,” Koch said. “We are pleased to see that more opportunities are built for SMEs when transformation and growth are important.”

Think bigger and more forward in the future: The origins of the motto

Cryptox slogan. “Marsadoption” has several meanings, Koch said. When crypto began to explode in 2017, there was discussion about what it would do to drive mass adoption. Many are preaching HODL, which will create a wealth generator that will generate killer applications and then mass adoption. They compare a rocket to a moon.

There is more play, Koch said. The moon orbits the earth. Why not try to get to a new planet by orbit?

“If you want to invent something, take it way back,” Koch said. “Make a higher effort, take a higher risk and go down in a more fun way so we have to be more creative. That’s why we crush the word. We’re not going to the moon but to the next planet. We want to bring our first node to Mars and open it.” of solar energy a day.

“But building something you have to be patient sometimes hurts. If you have to leave this planet and this wonderful life for something to be proud of, of course.