Rune Evensen on Crypto-One-Stop-Solution, Crypto-currency and Aditus
One of the co-founders of COSS (Crypto-One-Stop-Solution) speaks candidly with us about the state of the blockchain scene, specifically relating to crypto-currencies and ICOs, and about the upcoming Aditus ICO.
Rune Evensen, co-founder of COSS (Crypto-One-Stop-Solution) speaks with us about crypto-currencies in general, about COSS specifically, and about the upcoming Aditus ICO.
COSS went through an ICO this past month of September. What have been the major lessons learned?
We are very open about our mistakes so yes there were major lessons to learn from. Maybe the biggest one was that we didn’t build a community before launching the token sale. However, we did learn from all of our mistakes and are now in a position where other companies approach us for advice.
How is COSS coping with the fast evolving regulations in Singapore and in major markets such as the US, Europe, Japan and Korea?
COSS is a global platform, but we are based in Singapore. Singapore has taken a very different approach as compared to other jurisdictions such as China and Korea where they put a ban in place while waiting for regulations.
MAS in Singapore works very closely with the community and has already issued statements regarding new frameworks for the industry. As an exchange (of crypto-currencies), we follow this process closely and we aim to comply on all aspects of the new regulatory framework in order to also add fiat to crypto trading on our platform, and not only crypto-to-crypto.
What vision do you have for COSS over the next 12 months? In the past, you’ve discussed developments towards POS solutions and support to merchants?
For now, our main focus is on the exchange. We are in the process of making a brand new UI for the exchange and also to rebuild the engine behind it in order to be prepared for higher volume, trading bots, etc. The payment gateway and POS system are in place and working well, but they are not our main priorities at the moment. The masses are not ready to start spending crypto-currencies for purchases yet. It is still very much a store of value and an investment for most. I foresee maybe within two years before we see any significant shift in this mentality.
How is COSS supporting new ICOs? Tell us more about the active base of traders you have built?
We are working very closely with many ICOs and we also have an ICO section on the COSS dashboard where users can participate in approved ICOs direct from their balance on the exchange. Only KYC approved users will be able to participate, but on top of the obvious marketing effect, we also work closely with new companies to set up specific promos such as added bonuses, trading promos with token prizes, etc.
We are currently live with two ICOs in the back office, GATCOIN and DROPDECK, but we also have a few very exciting ones coming up in December in ADITUS and LALAWORLD. The number of approaches is increasing on a daily basis and the user base is growing. At the time of this interview, we already passed 25,000 trading accounts on COSS and it is growing on a daily basis.
Amongst other ICOs, COSS will be associated to the ADITUS ICO. Tell us why you like the concept of ADITUS?
Well, I am not your typical crypto guy. My background is more from sales and marketing. And the ADITUS projects speak to me directly. I like watches and other luxury items and I also enjoy attending events of such products. To me, ADITUS is a perfect fit and a breath of fresh air into this world of tech solutions upon tech solutions.
Being positioned with a first-mover advantage and a very rapidly growing community, I foresee ADITUS’ ICO to be one of the very notable upcoming token sales. And by offering added bonuses and trading promos to the existing COSS users, ADITUS basically instantly adds 25,000 more to their community. With question one fresh in mind that the building of communities is one of the most important aspects of conducting a successful ICO, I only see one direction for this sale.
Overall, what should be the strategy for crypto players to reach to a wider audience and bring more first-time investors to the crypto scene?
Everybody is talking about crypto going mainstream, but we are far from being there. Many of us think we are there or at least very close, but that is because we follow the industry so closely and we read all the articles and white papers with the thought that everyone else is also reading them, but they are not.
We need better general coverage of the industry and not only in niche magazines specifically targeting the crypto community. We need to be more visible in general, but we also need more edification and better cooperation with banks, funds and so on.
Your analysis of the latest evolution and decisions made in China?
In my mind, what we are seeing in China was necessary, but I also think that it is temporary. The ratio between good and bad was way over-weighted on the bad side and a cleaning session was bound to happen. I think China will come back stronger and bigger than ever before and with more solid projects.
Amazon is looking at entering the crypto scene, at least booking related crypto domain names, how do you view such move?
I am not surprised at all. All big players should adopt an “evolve or die” philosophy. Unless they want to be the next KODAK or IBM. Crypto-currencies are here to stay whether you like it or not. Companies that refuse to adapt will eventually pay the ultimate price. I welcome all innovations and early adopters. We need to embrace and encourage innovation.
If you were to mention one influencer on the crypto scene that has made an impact on you, who would that be ?
There are so many out there, and I am attending speeches on a weekly basis. The learning curve in this industry is steep. Whether I should mention anyone based on their skills, track record, innovative approach or simply by being drivers for the entire industry, I will boil it down to one name – Anson Zeall. Anson is the Chairman of ACCESS and Committee Member of SFA. He is the proof that it is possible to be inclusive, innovative and productive even in a competitive environment. The amount of hours he pours in at no charge to help the industry and the community is nothing less than impressive, especially when having in mind that he also runs two companies on his own. Hats off and applause to Anson Zeall.