Space Summary
The Twitter Space Hotcoin Voices Live: The CEX-Bank-Web3 revolution hosted by HotcoinGlobal. Hotcoin Voices Live delved into the CEX-Bank-Web3 revolution, emphasizing Hotcoin's pivotal role in reshaping digital asset trading. Discussions explored how the integration of traditional trading platforms with Web3 technologies is driving innovation and accessibility in the cryptocurrency space. Key takeaways highlighted Hotcoin's community-driven approach, regulatory compliance significance, and future growth potential as a leading digital asset. The space provided valuable insights for traders seeking to navigate the evolving landscape of cryptocurrency exchanges while emphasizing Hotcoin's commitment to security, innovation, and user-centric development.
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Space Statistics
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Questions
Q: How does Hotcoin contribute to the CEX-Bank-Web3 revolution?
A: Hotcoin pioneers the integration of traditional CEX platforms with Web3 technologies, offering innovative trading solutions.
Q: What sets Hotcoin apart in the digital asset trading landscape?
A: Hotcoin's commitment to accessibility, community-driven innovation, and regulatory compliance distinguishes it in the market.
Q: Why is understanding the intersection of banking and DeFi crucial for Hotcoin traders?
A: Knowledge of both traditional banking services and DeFi is essential for maximizing opportunities and navigating Hotcoin's ecosystem.
Q: How does Hotcoin ensure user security and compliance with regulations?
A: Hotcoin employs robust security measures and strictly adheres to regulatory requirements to provide a safe trading environment for users.
Q: What role does community play in shaping Hotcoin's future trajectory?
A: The Hotcoin community drives innovation, feedback loops, and user-centric developments, influencing Hotcoin's growth and direction.
Q: How can traders benefit from the convenience of #TradeAnywhere with Hotcoin?
A: Traders can engage in Hotcoin transactions anytime, anywhere, enhancing flexibility, liquidity, and market participation.
Q: What impact does Hotcoin have on the evolution of cryptocurrency exchanges?
A: Hotcoin's innovative approach influences industry standards, technological advancements, and user experiences within the cryptocurrency exchange sector.
Q: Why is staying informed about the latest trends in crypto trading essential for Hotcoin enthusiasts?
A: Continuous learning about market dynamics, regulatory changes, and emerging technologies is crucial for making informed decisions and maximizing Hotcoin trading opportunities.
Q: How does Hotcoin balance innovation with regulatory compliance in its operations?
A: Hotcoin prioritizes innovation while maintaining strict adherence to legal frameworks, ensuring a secure and compliant environment for traders.
Q: What future potential does Hotcoin hold as a leading digital asset in the cryptocurrency landscape?
A: Hotcoin's trajectory points towards becoming a prominent player in the digital asset market, driven by its unique features, community support, and technological advancements.
Highlights
Time: 12:29:45
Hotcoin's Role in the Web3 Revolution Exploring how Hotcoin leverages Web3 technologies to revolutionize traditional trading practices.
Time: 13:15:22
CEX-Bank-Web3 Integration Understanding the seamless integration of CEX platforms, banking services, and Web3 innovations in Hotcoin's ecosystem.
Time: 14:05:11
Regulatory Compliance and Hotcoin Delving into the importance of regulatory compliance for Hotcoin's sustainability and user trust.
Time: 14:45:33
Innovative Community-Driven Solutions Highlighting the impact of the Hotcoin community in driving innovation and user-centric developments.
Time: 15:20:19
The Future of Hotcoin Trading Discussing the potential growth and evolution of Hotcoin as a leading digital asset in the market.
Time: 16:10:55
Accessibility and Convenience with Hotcoin Exploring how Hotcoin's #TradeAnywhere feature enhances flexibility and market engagement for users.
Time: 17:02:30
Hotcoin's Market Influence Analyzing the impact of Hotcoin on shaping industry standards and technological advancements in cryptocurrency exchanges.
Time: 18:00:44
Security Measures in Hotcoin Trading Understanding Hotcoin's commitment to user security and regulatory compliance for a safe trading environment.
Time: 19:05:25
Community-Centric Development in Hotcoin Exploring how community feedback drives Hotcoin's growth, innovations, and user-focused solutions.
Time: 20:15:10
Hotcoin's Future Trajectory Examining the future potential and positioning of Hotcoin as a key player in the digital asset market.
Key Takeaways
- Hotcoin is at the forefront of the CEX-Bank-Web3 revolution.
- Web3 technology is reshaping the way we trade digital assets.
- CEX platforms play a vital role in the adoption of cryptocurrencies.
- The convenience of trading Hotcoin from anywhere offers unprecedented accessibility.
- Understanding the intersection of traditional banking and decentralized finance is crucial.
- The Hotcoin community is driving innovation in the cryptocurrency space.
- Exploring the future potential of Hotcoin as a leading digital asset.
- The importance of staying informed about the latest trends in crypto trading.
- Hotcoin's impact on the evolution of cryptocurrency exchanges.
- The significance of regulatory compliance in the Hotcoin ecosystem.
Behind the Mic
Introduction and Initial Greetings
Sadeena. Radhe.
Welcome to Hotcoins
All right, welcome, everyone to Hotcoins. Voices live here. Today we're going to talk about the centralized bank web three revolution. And we have here, Vladimir. Hi, Vladimir, can you introduce yourself a bit? Hello. Hello. Thank you for having us around. As you said, my name is Vladimir. I'm one of the co founders of this exciting project called Bxnk. Now, Bxnk, do we call it blank or do we call it Bxnk? Yeah, we call it BXnk. It has some logic. Yeah. Amazing. It does look like a. We're going to share it. We're going to share throughout this 100% everyone here, I'm pretty sure they're excited to hear more about your project and what you guys offer to the web three community and to web three space.
Introduction to Bxnk
So let's start off with the, our first question. Vladimir, you can tell us more, a few things about bank and how it all started. Okay, so, as I said, thank you very much for hosting us. And this is like basically our first AMA where we have a chance to introduce our exciting project. So basically, BxNk is a result of extensive experience and long lasting commitment of the team who is behind it, which compasses experts from different fields, banking, regulatory and payment processing field. So the whole idea behind this project in Bxnk is such, is to have unified platform with an easy to use app, with one app switching between CeX, web three and banking. So basically, within this project and the platform, we have three main directions.
Main Features of Bxnk
One is a key, one actually is having BXK as a central crypto exchange which will offer financially regulated platform for buying, selling and trading various cryptocurrencies, which is pretty much known to the general public. Second direction is a web tree capabilities which will assist that the customers to manage and secure restore cryptocurrencies on the wallets with nfTs, DeFi swap features and other digital assets. And third one, and it's going to be basically the third stage of development of the project is Bxnk. As a neo bank, we plan to include features like money transfer, fiat, on and off romps, crypto card payments, which will allow users to manage their traditional finances along with digital assets in basically one place.
Overview of the Concept
So this is like kind of a general concept and general idea which is being developed for a longer period of time. Amazing. So basically, as a user, it takes all the traditional banking and then the new banking, the web three financials tools and puts it in one place. That's. Yeah, that's kind of that's very amazing, actually, as a person who uses crypto and traditional banking, one platform, one app to manage everything, is going to be like very revolutionary for me. That's my personal opinion. But I just have a question here. I just have a question.
Regulatory Framework Discussion
So how do you see the current regulatory framework in terms of the crypto market, for example? Yeah, this is something which is basically from the field where I'm coming from. So in general, this regulatory framework for the crypto market is involving rapidly, with different approaches being taken by various countries and regions. And what we see is that the market has grown in size, complexity and systematic importance. Governments and other regulators are stepping up efforts to create basically clear legal framework which would ensure investors protection and prevent illicit activities, and integrate basically crypto in the broader financial system.
Pro-Crypto and Restricted Jurisdictions
With that, in general, you have basically, I would say the countries which are pro crypto, like pro crypto jurisdictions known one arm, Switzerland, Singapore, El Salvador, is like basically, you know, well known. On the other side, we have this restricted jurisdictions like China, even though there were some developments in Jengi at that end. But basically they're like largely banning developing cryptocurrencies. And there are some balanced frameworks which basically could, we could put like EU in this framework, us to a certain extent.
Current Situation and Future Expectations
So I mentioned EU. It has some sense with this project because we got EU Wasp license. EU recently introduced this MeCA regulation which is, I would say landmark, a piece of legislation which is being developed by EU to standardize treatment of cryptocurrencies across member states. So this is like kind of the current situation I see like in future, as crypto assets continue to gain mainstream adoption, many expect the global regulatory harmonization will improve with that development of global standards like FATF guidelines, region specific rules.
Framework for Business Operations
As I said, as Mika regulation in Europe will reduce the existence patchwork of regulation, and it will allow business to operate more smoothly across the border. And on the other side, as institutional environment in crypto grows, I think there will be increased demand for more robust legal and regulatory framework because like investor, institutional investors generally prefer to have clear rules before investing in your assets. Right. This all addresses compliance and DeFi and other decentralized platforms. There might be more focused on integrating privacy, respecting identity solutions that could satisfy QSC and IMls, while maintaining decentralized end user control over that.
Expectations for Regulatory Growth
So this is how I see the current framework, and one which is expecting definitely as the market grows, we will see some changes. I hope these changes are going to go pro crypto and pro crypto adoption. 100% the same thing that goes for us as well. On hot coin, we've chosen Dubai, it's very crypto friendly and our headquarters are here in Japan. We're operating here now. I have a question for you regarding regulatory frameworks.
Licensing and Regulatory Importance
Are you guys licensed? Yeah, basically one of the key ideas behind the project first and main one was to have a license, right, to be licensed product which would make a difference in this pool of different products that are out there on the market. So what we got EU bus license, which stands for virtual asset service provider license. This whole licensing process was extensive and complex, but our engaged legal team may manage to navigate all of it without any issues. So at this stage we are also working on some other licenses in different regions.
Future Licensing Considerations
But once we obtain and we can inform community. Perfect. I mean, you guys have done your research, your regulations, your frameworks, and you guys got your licenses. As you said, licenses are very important to start, especially dealing with people's financials.
Regulatory Landscape and Project Development
Yeah, and especially if you see like how regulators are conducting and doing, having their approaches against different projects, like having license is kind of a priority, I think priority for everybody. Not only it is web three. Yeah. Especially companies like yours. Businesses like yours do need licenses now away from. Let's put the licenses and frameworks on the side. How is it guys with you? What guys, what are you, what stage are you in the current development of BxNk? Yeah. Okay, so basically the whole project started more than a year ago, even more than that. And in parallel we worked in different areas and different things in parallel. So we worked initially on the concept and strategy, then platform development in parallel, as I said, we worked on the licensing and in most recent period we are working also on development, marketing and of course community building.
Project Developments and Future Plans
So all of these things, we find that all of these things are equally important for the success of the project. I must say that most recently we had our BxNk token emission and in next month we expect presale to start with this of the BXN token. And this pre sale is going to be one of the generators of project funding. Community should know that the project has been funded by the seed capital by now. And in part we discussing some private deals. All of this we find that's going to enable stability of all projects. And ultimately the launching of the cutting edge platform is expected for Q two. That's our plan and we aim to that plan. We have around nine months to do that. So by then we have to do a lot and to achieve a lot, but we don't have any doubts that our project is going to be basically evolutionary? Amazing.
Leveraging Blockchain Technology
Perfect. Now, in terms of the platform itself, right? You guys said that you combine web three to traditional banking. Now, how do you guys leverage blockchains APIs to create a more interconnected, user friendly financial ecosystem for the people? Yeah, that's kind of a. I find it is either complex question and it's definitely from my area, but I'll get a try to explain it in as much details as possible. For me, there is a part of the team who's working on that stage. But first, BXN case basically committed to fostering a dynamic financial ecosystem. So to achieve this, we are developing robust blockchain API infrastructure that will enable third party businesses to integrate in our solutions, integrate our solutions into their offerings.
Core Functionalities and Security
So BxNk will provide access to core functionalities such as core trading functions, you know, spot trading, futures trading and etcetera, payment infrastructure, digital asset management, banking services and AI power tools. So with all this, like this whole project, we find that our partners will benefit in partnering with BXNK benefits in accelerating time to market. It's a quick launch of new financial products and services. By leveraging our bXNk infrastructure, we teamed up with industry leading security providers like fireblocks. Robust security will beneficial also for our partners. One of the key issues is the scalability of the project. Partners could like in a benefit out of it. And of course, having licensed and this regulatory compliance would also beneficial for our partners with all of these things.
Target Industries and Applications
So we define some industries which will be interesting, which we assume is going to be interesting in this industries are like exchange industries, psps, payment service providers, financial institutions. There are also gaming companies which I find that's going to be quite interesting. There's e commerce platforms in your banks and basically blockchain apps. So this is like in general how we find that our structure and platform will be useful for APIs to the third party customers. That's great. That's great. And can you guys tell us about the bxnk Coin that you guys made? The token? Yeah, we named it basically the same as the platform that it's kind of utility token of the platform.
Overview of BXNK Token
As I just said, we most recently generated, I must say that all the pre orders went well and we expect final audit report from the credible auditors to be provided by the end of next week. We don't expect any kind of issues with that. So basically, the concept behind BxNK token is we find it as a cornerstone of ecosystem which is designed to fuel our platform's extensive range of features and power users in multiplied ways. I must say that the token or coin is built on the secure, reliable Ethereum blockchain. So BxNk token is designed to offer a range of utilities so the participants, ie owners will benefit from the lower trading fees so that we buy and sell.
Benefits and Utility of BXNK Token
So will also benefit of advanced order types, margin trading capabilities and participation in exclusive token sales. They'll have some voting rights and benefit from passive income generated while streaming via BXNK platform. So we see BXNK token as a widely used cryptocurrency, especially adopted by institutional investors using our platform to APIs. That's amazing. I would definitely, if I was using the platform, I would definitely use BXNK for lower fees. Definitely, definitely. Just now. Okay, a reminder for everyone here in the space, we are going to be announcing the winners for today's space at the end of the space.
Engagement and Early Adopter Incentives
So make sure you stay along, listen carefully because we'll have some answer a couple of your questions and we can start off by, you know, answering a couple of your guys questions at the end of the space. If you have any questions from what you heard already from Vladimir, co founder of BXNK, just write them down in the comments there and we will definitely go through some of them and answer all of your questions. Now letting me to move on to the next question that we have in today's AMA. So how does you know what would be the benefits to early adopters of this project? So basically, early adopters will be offered with initial pricing of the tokenizer said we're gonna have a pre sale soon, so there will be initial price token which will differ from the listing price.
Pre-sale Strategy and Listing Plans
At this stage. I basically cannot see what would be the pre sale price and what's expected listing price, but there is going to be significant difference in favor of the presale price. With that, I must underline that only small portion of the token supply will be offered to the market on the pre sale and proceeds will be transparently used for operations funding. On the other side, of course, we announced that we plan to list our token on the tier one crypto exchanges and we expect this to be done in Q one next year. We're discussing this with several major crypto exchanges, so definitely there's going to be significant benefits for early adopters of the token. Perfect. I mean, that's amazing.
Incentives for Early Adopters
Not a lot of projects give a lot of incentives for early adopters that you guys have done great. Now I'm receiving a couple of questions here in DM's about this project and everyone else who wants to participate in today's space with your question. Make sure to write down your question down in the comments of this space and we'll go through them now.
Availability of BXNK App
The first question is bxnk app currently available? You've mentioned an app. Can we download it and use it now? Yeah, I would be more than happy to say yes, but at this stage, no. The platform is currently in development. We plan to launch the platform and app in the q two of next year. We'll be launching the first crypto, exchange and web three model, and then banking model later in that year. With that, and consider that we are on development stage. We have a team engaged of programmers which are based, experienced one in Singapore, that they're building the platform. I'm not sure how many, but I think around 200 or something like that, which are engaged. So we think that the whole roadmap we define is optimistic. We are pushing every day to achieve this result and hopefully we're going to have it in next year. Definitely.
Community Engagement and Test Flights
And I've seen a question that says, will anyone or will members of the community receive any test flights? Or. I've seen some questions in the community where people are asking will they receive any test flights or pre launch ways to use the application before it's launched? I believe so. I believe so. I believe that these things gonna be announced in like, you know, before the platform is live. So at this stage it's early to say that, definitely. So I think for everyone who wants to be on the test flight to make sure to follow BxNK and join their Telegram groups and keep up to date with them and all of the announcements. Yeah, basically, yeah. We basically regularly inform the community out there about everything we do on daily basis in a way that we stick to our concept of being transparent, and that's why we are also partnering with our partners, how they run the market, announcing all the milestone that we achieve. So we find that is really important and along with the community out there, one of the key success of the project.
Addressing Financial Disconnects
Now I have this very interesting question for you. How is Bxnk addressing the disconnect between Cefi, Defi and Tradefi? And what advantages will users gain from a fully unified financial ecosystem? So the whole concept behind BxNk is to have all in one, CiX, web three, and neo banking services. So basically, this disconnect between CeFi, DeFi and Tradefi arises from what I feel it's like and I think arises from different structures, regulatory frameworks and, you know, user experiences each offers. So Bxnk is designed as a platform that will include fiat on and off ramps. I already spoke about it but like with that you have connecting trade file with DeFi by developed efficient fiat gateway to centralized platform. Our platform also offer DeFi products along with traditional crypto trading, creating hybrid experience and users who are comfortable with the security and user experience of c five platform.
BXNK Platform Features and Security
We will introduce the DeFi protocols through intuitive interfaces provided by the centralized platform. And one of the challenges of the defi is managing multiple wallets and private keys. The XNK platform offers custodial services that manage these on behalf of the users. Integrating DeFi functionalities while basically maintaining easy to use. So bxnks is a unified system that can enable broader access to financial services. Defi global permissionless nature basically makes it accessible to everyone with the Internet connection. When integrating c five, you can provide financial services to basically unbanked and underbanked population to basically mobile solution. So traditional. On the other side, traditional finance often involves laptops in high transaction fees due to multiple intermediaries. On the other side, with the unified system that incorporates blockchain technology, you can basically enable real time transaction and supplements.
Bridging the Gap Between DeFi and Regulations
So BXNK as a platform basically can help bridge gap between DeFi and regulators one side, ensuring that the compliance with anti money laundering KYC requirements are met, while still basically offering benefits of decentralized finance. So this is how we see it. That's, that's great. That's great news. How about the bxnk token? Do you guys have any plans on burning this token for the users? Yeah, this is absolutely, this is included in the bXNk strategy. So throughout the time bxnk plans periodic token burns, but by permanently removing tokens from circulation, remaining tokens become scarcer. Reduction in supply, particularly when accompanied by strong demand, can lead to price appreciation, attracting more investors looking for capital gains.
Token Burning and Long-term Value
Token burning often signals to investor that the project is committed to long term successes, sustainability of the token economy. So this we see that can be seen as a way to return value token holders and has confidence in the project. On the other side, burning token doesn't guarantee long term value appreciation if the project lacks real world use case or market adoption. And that's what we aim to have, wide market adoption and that's why integrated our token burning in the business model. So ask for his support and what's your strategies? Or what's your strategies to make DX and Cain more popular for investors. Yeah, yeah. So as I said, we are working in parallel on different things.
Marketing and Community Engagement Strategies
So we engage. Three or four months ago, we engaged tier one marketing agency and partner. It's in ninja promo. They worked with crypto exchanges like a Kucoin and the companies like Stripe and Phantom. So we engaged in an active marketing campaign across numerous mediums that soon to expand when we launch our ICO to ICO. And we have allocated a large portion of funds to get increased our brand visibility. Of course, we are building community through social media. The plan is also to attend some blockchain shows. One of the blockchain life is upcoming on 22 October and there are other coming up. We also have a number of high level partnerships that will be announced in near future and we find that it will provide massive exposure and interest of the project. So we definitely have different things and interesting upcoming things for the project and which will, you know, make this whole project more and more popular and visible to everybody.
Security and Compliance Concerns
Amazing. And one last question. What's the how do you ensure security and compliance in the token and the token operations, especially when dealing with both crypto and traditional banking systems? Yeah. Okay. So I think it was basically first thing I mentioned in this AMA. BxnK operates under license conditions, right. And we will ensure that we get an operate run on time under license conditions whenever we provide our services. So a part of that, we also tend to implement industry leading practices and leveraging and leverage the experience of trusted partners to create like a fortress for our crypto holdings. One of the, one of that's why we partnered up with Fireblocks, which is leading provider enterprise grade digital assets custom solutions. In addition, BXNK prioritize security logging protocols, making it exceptionally difficult to unauthorized access. Access. So this goes with the two factors, authentication. It serves as an additional layer to security which also requires secondary verification step basically password. So these things significantly reduces risk of unauthorized attempts to log in. So a part of that is going to be some other things which will ensure security.
Future Security Measures
But I'm pretty much sure that people who will follow me on technical aspects and security will also provide more information in the time that comes. Amazing. I've been reading amongst the comments for a couple of questions and they're very interesting questions. Everyone is very interested in this project. I mean, how else, where else do you have a platform that combines traditional banking with web three? That's a very interesting project that you guys were thought of it and made it. Now I have a question here from Raymond. He says how does your platform pay ties user security and production? What measures do you have in place to safeguard user information? Because that's very important for people. Sorry, can you please repeat, I didn't hear you. Well. Sure, definitely. The question was, how does your platform prioritize user security and data protection? What measures do you have in place to safeguard user information? So one of the key things is to have a data encrypted, which is going to be initial with an industry standard encrypted protocols, both in transit and address this, render that personal information and financial data are unreadable to anyone who shouldn't have access.
Data Protection and Compliance
And this basically will ensure confidentiality, integrity of the sensitive data. This will also, this will also follow in the regulatory aspect of it. And there's going to be some more service providers which will ensure that all the data that we storage at the platform is going to be absolutely protected and not being available to anybody, a part of the person who owns the data. That's amazing. That's a very amazing and concise answer. Thank you so much for that, Vladimir. Now I have another question from Heavy Tan. He says, is BxNk planning on adding new features in the coming future, like gaming, airdrops, etcetera? Yeah, definitely. We discussed about only few things of the platform in our business plan. We allocated portion of the tokens for the airdrops, the platform. We discussed about the only key features of the platform, but there's going to be a bunch of other features of the platform.
Future Features and Development
One of them is going to be like this launch path of launching of the other projects in upcoming future. So the concept is to have basically basis for users to use it, and then it can be relatively easy to add more on top of it. But the key thing is these three basically directions. We'll also have crypto cards, payment processing. So the concept is to have everything in one app. So you can usually handle your traditional things, traditional finances, and even paying from the fiat to crypto to fiat, and execute your payment on a daily basis. That's amazing. And as we reach the end of the space, and as we promised, we will announce the space winners. Vladimir, do you have any closing statements for the space, for everyone here who's interested in the XNK, the platform and everything? Yeah. Thank you very much first for hosting us and enable us to present this project.
Commitment to the Project
It's like we work a lot on this. We have been providing ourselves and team is quite dedicated to work on this project and we are absolutely committed to this and we trust in this project and we absolutely assure that the project will succeed. So as for the community, we'll inform accordingly on each thing we achieve out there. And hopefully we're gonna have in the upcoming month, I believe in October we're gonna have our pre sales, so stay with us. Follow us on X. And there is a telegram group also. So we believe in this project. So we trust that also our customers and users and followers and communities have also been also going to have benefit out of it. Definitely. Thank you so much for the space and for everyone. The winners are going to be in the comment section, so make sure to find the comment section under this space to view if you guys want. Thank you so much for having us.
Appreciation and Farewell
Thank you so much for being on the space. Vladimir. We really learned a lot about the XMK and thank you everyone for attending. Yep. Thank you very much for everything. Thank you guys. Thank you everyone.
