{"id":12415,"date":"2019-11-14T15:22:15","date_gmt":"2019-11-14T12:22:15","guid":{"rendered":"https:\/\/million.in.ua\/?p=12415"},"modified":"2021-05-15T18:05:22","modified_gmt":"2021-05-15T15:05:22","slug":"radzh-delik-kriptovalyuta-finansovij-aktiv-xxi-stolittya","status":"publish","type":"post","link":"https:\/\/million.in.ua\/en\/personality\/radzh-delik-kriptovalyuta-finansovij-aktiv-xxi-stolittya\/","title":{"rendered":"RAJ DELIK: \u201cCRYPTOCARRENCY \u2013 THE FINANCIAL ASSEST OF THE \u0425\u0425\u0406ST CENTURY\u201d"},"content":{"rendered":"

Digital Money, Bitcoin, Blockchain\u2026 What is it? Is it virtual money, an adult game of mathematical codes or a full-fledged next-generation payment system with its infrastructure, information support and logistics? These and other questions will be answered by Raj Delik, a cryptocurrency consultant, business trainer, the founder of Crypto Finance LLC, OneLife and DealShaker trading platform partner<\/strong>.<\/strong><\/p>\n

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Well, the foundation of a consulting company. How did the idea come about?<\/strong><\/p>\n

I became aware of cryptocurrency in 2015. That time I was looking for a new business and my friends suggested me this idea. Cryptocurrency and blockchain technologies started developing all around the world. I still did not understand much, but decided to explore this issue and, thus began with OneCoin, the European cryptocurrency. To do this, I went to a summit in Sofia, where I finally decided to invest a small amount of money. This was the beginning of my activity in the field of cryptocurrencies.<\/p>\n

I was passionate about this industry. I was intrigued by the idea of \u200b\u200bDr. Ruja Ignatova, the founder of OneCoin, to enable ordinary people to use a cutting-edge payment technology, and I began to promote this idea in the society. In 2016, at the Chamber of Commerce and Industry of Ukraine I met Yurii Yekhanurov, former Prime Minister of Ukraine, where he delivered a report on digitalization of the population in the field of payments. I decided to join the Union of Small and Medium Business, which was headed by Yurii Ivanovych that time. I understood that an important thing that is needed to keep cryptocurrencies from scaring people, but make them curious about it is to learn. That is why I\u2019ve chosen this path i.e. to learn and bring this knowledge to the people.<\/p>\n

And in the fall of 2017 I decided to found my own consulting company Crypto Finance and this was my second step. Later, I became interested in bringing some cryptomachines to Ukraine i.e. physical terminals to exchange ordinary paper (or fiat, as they say in the banking sphere) money for digital. For this purpose I used the services of my company. That\u2019s how the idea came about.<\/p>\n

Raj, where did you study to be successful in consulting business?<\/strong><\/p>\n

As it was a new direction and there were no specialized literature or courses, I got my knowledge independently. I used to attend various conferences and seminars. The first one I visited, took place in April 2015 in Sofia, the next was in May, when I flew to Dubai. I met many representatives from Asia in the \u201ccity of the future\u201d. Since the cryptocurrency movement started in Asia and is more common there, it was a very intense and motivating meeting. Next, there were London and Bangkok.<\/p>\n

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Let\u2019s talk about cryptocurrency. Tell us, what is it Bitcoin? <\/strong><\/p>\n

Bitcoin ... for some people, it's just a code game on the internet, an ordinary money and for others it's the future of payment system. I belong to the category of people for whom this is real money that we can fully enjoy in the modern world to buy goods, services, to transfer any amounts over long distances in a matter of minutes.<\/p>\n

I want to share with you my impressions of traveling to the US East Coast. This country of unlimited possibilities amazed me by the fact that I saw a rather limited number of PayPass terminals. Their number in the US is many times smaller than in Kyiv. In this amazing country you need to pay for goods and services by a physical card, but when you make a physical card payment on the other continent, often the bank just blocks the transactions to protect your account against cybercriminals and it is really inconvenient, when you are standing in line and you cannot pay for your goods, while the chat banker is giving you unlocking instructions.<\/p>\n

At the same time, there are more than 200 cryptomchines that can be used in New York City, and in a matter of seconds you can exchange bitcoins or other cryptocurrency for cash, dollars in cash from your e-wallet and continue to easily use them to pay for any goods. Thus the need to carry a suitcase full of cash does disappear and the inconveniences of traditional banking system too.<\/p>\n

Cryptocurrency in Ukraine\u2026 Can we consider it to be a currency??<\/strong><\/p>\n

The popularity of digital money is off and running every day. They\u2019ve started the process of legalization of cryptocurrency in Ukraine. The People\u2019s Deputies have drafted several bills that should provide legal clarity for Ukrainians. Due to the fact that I am the owner of a consulting company and a member of the Union of Entrepreneurs, I was invited to participate in the discussion of these draft laws at the Verkhovna Rada Committee. It was three times when I participated in the meeting at which they unambiguously resolved to legalize cryptocurrencies and recognize them as financial assets and to regulate commercial activities related thereto.<\/p>\n

There are some countries where this has already been put into practice. What does this event mean for people? Legally, it's a barter scheme the essence of which is to exchange your financial asset i.e. cryptocurrencies (a bitcoin, litecoin, vankoin etc.) to the commodity you need i.e. household appliances, electronics, real estate, cars, food, travel services etc. In fact, it is a legalized exchange operation. These bills streamline the tax obligations of digital money entrepreneurs to the state.<\/p>\n

Digital money - is it a soap bubble or a full-fledged XXIst<\/sup> century payment mechanism?<\/strong><\/p>\n

I think that terminology marker is not so significant. Some call it a currency, a means of payment, others call it a commodity or financial asset, but, in fact, it doesn\u2019t matter.<\/p>\n

Money is a tool that makes the peoples life easier, since the basis of payment assets is trust. If the credibility of the US dollar is broader, its value is very high even outside America and if hryvnia is trusted on the territory of Ukraine only, unfortunately in Europe, Asia or the USA Ukrainians will not have any opportunity to use their national currency for whatever payments without bank conversion.<\/p>\n

Therefore, with new technologies, there is a particular need to optimize any process, especially if it is a financial calculation. People need speed, conciseness, so there is no room for intermediaries in the financial markets. We see commercial banks closing down as most services go online. People want to make these services cheaper, which is why a blockchain and cryptocurrency have come up. Richard Branson once said: \u201cThere will be cryptocurrencies other than bitcoin that will respond to public requests someday.\u201d And we do observe such situation today.<\/p>\n

New and new digital \u201ccoins\u201d focused on the respective areas are emerging the market. In fact, cryptocurrency today, no matter what we call it, has taken a firm place in the financial services arena. Regardless of how the state regulator characterizes it, we have a situation where cryptocurrencies take the place of a payment instrument and people trust it increasingly. More and more electronic digital wallets are being downloaded every day, which shows the interest in this area and in these units of calculation. There appear more and more cryptocurrency exchange terminals. This is an interesting tool that simplifies the ordinary people's process of exchanging these units for real money or vice versa.<\/p>\n

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Well, what is the difference between cryptocurrency and an ordinary hryvnia? <\/strong><\/p>\n

The answer to this question will be very simple to be understood by ordinary people. I'm not an IT specialist. Digital money has interested me, first, as a direction in the field of payments, and secondly, as an investment tool to save money from inflation. When I started developing in this direction, 2014-2015 was a period of hryvnia devaluation. We watched as people's wealth was depreciated in the eyes.<\/p>\n

So, what's the difference between a cryptocurrency and a real hryvnia? All digital money has a similar algorithm i.e. a limited number of units, which means that emission of this money is limited by the mathematical formula. Mathematics is an exact science. The Stel\u2019s Directory does not work here, so the founders of Bitcoin have released a digital code for 21 million digitally encrypted coins and there can be no more of them. When Privat Bank was nationalized to save the economy (maybe it was so, I can't deny), the National Bank has risen over UAH 100 billion to save banks and our economy.<\/p>\n

So, what do we see? In traditional finance, there is an ongoing issue of money that is no longer backed-up by the gold reserve. Since 1976, Richard Nixon, the President of the United State, has finally signed a decree that frees the dollar from pegging to the gold standard. And now banks print paper money when it is needed without supporting them with any tangible state assets. So the difference is that digital money has no any basis, it cannot be printed at will and this puts them a rank higher than gold. The hryvnia no longer has such a firm foundation and it casts doubt on its reliability.<\/p>\n

Apparently, each of us would like to get its million one day. A million in cryptocurrency \u2013 is it a myth or reality?<\/strong><\/p>\n

Bitcoin will be interesting in its segment as banking gold. Not everyone has ingots of gold per kilogram at home, but for some people it is a tool for saving investments. Bitcoin handles this function, sometimes giving its owners the opportunity to make a profit. In the future, the forecast for digital money is to grow. If you watch the rate in your blockchain wallet, now the rate is about $ 10 000 per bitcoin, and it will keep growing. This is due to the technical reasons and increasing demand, since the latter increases together with the price because cryptocurrency is limited.<\/p>\n

Some predict a rate of $ 40000-50000 per coin per year. Maybe they are right, but $ 30 000 - for sure. If to analyze since its inception, the bitcoin course is like a roller coaster ride - it flies up rapidly and then slumps. But in the long run, bitcoin continues to grow and is gradually peaking.<\/p>\n

So how do you make a million on bitcoin alone? Everyone has the opportunity to test this in practice. What should be done? You just need to buy one bitcoin now or multiply with our help a small number of bitcoins in your wallet and then just wait - a year, two or five, and after a period of time become the owner of a coin worth million dollars! This is a hypothesis, but who knows\u2026 Perhaps this hypothesis will become true.<\/p>\n

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