For those who have chosen the red pill. Neo Toolkit

    The significance of any mass phenomenon is measured by resonance and the struggle of opinions. It has always been so. The cryptocurrency, which was invented by Satoshi Nakamoto in 2008, and its flagship bitcoin, is becoming more and more popular every year. The first in Bitcoin, like in the dollar of the digital age, were cipher banks, cryptanarchists and rebels of all stripes. The laws of mathematics are stronger than the laws invented by people, they decided, and enthusiastically set about building a cryptocurrency ecosystem. Then the potential of a promising means of payment was estimated by IT companies, first those who had nothing to lose, and then the giants. Dell, Expedia, Dish Networks, are already actively accepting payments in bitcoins, Apple, Facebook, Pay Pal and social platforms such as Reddit, they also like them, but so far they are waiting. while thinking about introducing your own cryptocurrency. Along with the growing popularity, the anxiety of those to whom the development of a new market could promise serious problems intensified.Oldfags, however, are ardent opponents, whose roles are primarily states and financial structures, saw in them a threat to financial stability, and for the most part declared a new and obscure phenomenon of war.

    In a word, everything is extremely ambiguous, and we will not continue the holivar on the topic “For” or “Against”. One thing is important - the cryptocurrency market exists and is overgrown with related services. Whether or not to accept it is entirely up to the user. The same article for those who chose the red pill has already made their choice and needs a utility that will not only help navigate the world of cryptocurrencies and monitor their course, but also play on it, quickly exchanging one cryptocurrency for another, or display it for quite ordinary, fiat money.

    Yes, we write in this blog primarily about start-ups that are looking for financing, using our crowdinvesting platform for this. But the Kryptonator in question is not just one of them. With its relatively short history of existence (since the beginning of 2014) and work in beta mode, the service already at this stage is of value to everyone who works with the cryptocurrency market and who is interested in it. The product, which its developers modestly call “stable beta”, does not have the dampness and incompleteness inherent in many final user versions of most startups at a similar stage of development.

    The Cryptonator team managed to create, in fact, a universal online e-currency wallet that allows you to store, receive, send and exchange all of their diversity (or, more precisely, so far the six main ones - Bitcoin, Litecoin, Dogecoin, Peercoin, Darkcoin, Blackcoin. For the remaining 400-500 there is a calculator and monitoring of rates), using a single personal account.

    Previous experience in launching successful projects (the creation and development from scratch of one of Russia's largest commercial vehicles portal, as well as a photo ad magazine with an annual turnover of more than $ 1 million) helped the founder of Kryptonator Roman Pikulev in stealth mode launch a fully functional working service with all the stuffing necessary for such a product - a site whose API processes more than a million requests daily, and mobile applications on iOS and Android. Although they do not yet have a wallet function (so far only a calculator and courses of various exchanges, the rest is in the future), their intuitive interface, convenience and quick handling without any advertising have already attracted more than 4 thousand users in the USA, Russia, Ukraine and Indonesia. Given the relatively narrow market segment and a certain elitism of cryptocurrencies, The figure looks impressive. The project was noticed by the specialized Russian and Western press, where articles devoted to it were repeatedly published.

    Of course, startups need money to strengthen their positions, promote applications and security (and even on such a thorny path as the cryptocurrency market), for the sake of collecting them, the project, in fact, alienates a 10 percent stake. However, the feeling that participation in Kryptonator is financially no less profitable for investors remains quite persistent.

    Today in the world there are more than 500 different cryptocurrencies, the total value of which is about $ 9 billion. Various operations using bitcoins and other crypto-money are carried out by hundreds of thousands of users. For the business, this sector is also of serious interest - in 2014 alone, investments in cryptocurrency projects amounted to more than $ 168 million.

    The creators intend to monetize the service in several ways - by commissions for outgoing transactions and when paying for various services with cryptocurrencies from the wallet, income from exchange transactions, as well as by attracting sponsors to the “Spend / pay” section, which is standard for most payment services.

    The manager of the Kryptonator project Roman Pikulev tells how the idea of ​​creating such a service appeared, how it all began, and what has turned out to date .

    “The original idea came in November 2013, when I first encountered cryptocurrencies. My eyes just widened, how many, it turns out, there are various cryptocurrencies besides Bitcoin. And at what speed new currencies are appearing - the head was spinning. Questions immediately began to arise, but how much is 1,000,000 doge or 25 ppc? How to quickly assess the price and calculate the value in the usual money? Manually on a calculator is long and inconvenient, but there are no utilities. Moreover, at that time more than a dozen exchanges already existed, and each of them had its own course. What to navigate? As a result, the goal was to create an automated service that would collect information from all exchanges and allow you to recalculate the value of some cryptocurrencies to others.

    In a few months, we created such a project, fastened various useful services to it (a cryptocurrency portfolio, a public API, widgets with courses for installation on websites, email notifications, etc.), released a plug-in for Chrome and mobile applications for iOS / Android and started thinking about the future of the project. There were several options for further development, but the most pressing problem seems to us to be the banal inconvenience of working and managing your cryptocurrencies, as well as the complex and not immediately understandable process of exchanging them.

    Now in most cases, in order to receive or send cryptocurrency, you need to install a special wallet program on your computer. Accordingly, if you work with several currencies, you must install such a program for each of them. For some electronic currencies (Bitcoin, Litecoin), various versions of online wallets are already available for both desktop computers and mobile devices, but they only allow working with this one currency and do not support others.

    Another important point was the following: the presence on the market of many cryptocurrencies creates the need for their exchange. Of course, there are cryptocurrency exchanges on which you can buy, sell or exchange cryptocurrencies for each other or for fiat money (rubles, dollars, etc.) However, these exchanges are quite complicated and inconvenient to use for the average user, and also not each of them has the necessary cryptocurrencies (it happens that you need to register on several).

    These prerequisites gave rise to the idea of ​​developing a multi-currency online wallet with the ability to instantly exchange cryptocurrencies. We see its key advantages as ease of use at the level of familiar Internet banking, accessibility for various devices and additional useful functions (billing, sending cryptocurrency by e-mail, and much more).

    -Roman, who are your competitors?

    Specifically, in the Russian market I am not familiar with competitors or similar products. I believe that the recently issued instructions and bills, which clearly show the negative attitude of the state to digital currencies, are affecting this. If we talk about the international market and its products, I can especially single out Blockchain and Coinbase veterans from competitors, as well as the recently announced Circle service. But there is one “but.” All three companies still allow you to work with only one cryptocurrency - Bitcoin. Among the multi-currency solutions, Holytransaction can be noted, which supports several cryptocurrencies, although with restrictions, but does not have a full-fledged mobile application, which, of course, does not give it a wide audience reach.

    As befits cipherpunk banks, Kryptonator understands the difficulties waiting for it ahead and divides possible risks into two main categories - a total ban on cryptocurrencies at the government level and hacker attacks on servers and the theft of digital currency from the users balance.

    The service is carried out through the SSL protocol, using SHA-256 encryption of user data and two-factor authentication. The service contrasted the threat of hacker attacks with storing the main balance of cryptocurrencies on its own standby offline servers and distributed “cold” storages. All of them are regularly checked for vulnerabilities by security experts. There is a program for searching vulnerabilities for volunteers for a fee (bug bounty program).

    A possible onslaught by the authorities (alarming calls have already come from China, the USA, France, and in Russia just recently rang the bell - the Finance Ministry’s bill on fines for the use of “money surrogates”) the project plans to restrain its cosmopolitanism. Anticipating the ban in a number of countries, Kryptonator from the very beginning acquired an interface in six languages: English, Russian, German, Spanish, French and Chinese. Multilingual support is the key to globalization and allows the service not to depend on one specific market.

    Meanwhile, there is something to be afraid of - general trends regarding cryptocurrencies indicate the imminent offensive of the “global government” on alternative money. At first, the People’s Bank of the People's Republic of China banned organizations from dealing with bitcoins (not having a slight collapse, by the way), as a result of which their circulation in China, where bitcoins were first accepted almost everywhere, sharply waned. Then France and several other countries spoke negatively, after which the “witch hunt” began everywhere.

    True, then, quite unexpectedly, the head of the US Federal Reserve Ben Bernanke acted as a renegade, seeing the future in cryptocurrencies, as a result of which the bitcoin exchange rate rose to $ 900 in one day. Other well-known financiers and entrepreneurs (German Gref, Bill Gates) also supported, and the famous IT investor Mark Andrissen even considers bitcoins to be the biggest innovation of the last decade, invests in CoinBase, and looks at other objects for investments in this field.

    However, the latest news from the fronts of cryptocurrencies does not inspire much optimism and directly concern Russia - the Ministry of Finance has prepared a bill according to which, although cryptocurrency is not prohibited, serious fines are introduced for its use - up to 50 thousand rubles for individuals and up to 1 million rubles for commercial organizations. And then the media in every way relish the story of how the unknown “bitcoin whale” sold 31 thousand coins at once, bringing down the market, raised $ 9.3 million and sailed in an unknown direction.

    -Can you somehow comment on this news?

    Regarding the bill of the Ministry of Finance - we are ready for such things and laid them at the start. The cautious attitude of the state became visible even in the winter, and the development and adoption of the legislative framework was only a matter of time. For my part, I can say that we are ready for both restrictions and a total ban. In the latter case, we will provide services in other markets.

    And about the massive sale of bitcoins - the information in the media is somewhat distorted. In this case, the seller just did not manage to greatly affect the price, even despite such a huge order. After the initial fall, the market instantly reacted and added demand, and the seller withdrew the order without achieving its goal. After that, everything returned to its previous position. In my opinion, such market manipulations were possible in the past. Currently, with an increased mass of bitcoins, this is practically not feasible. The price is influenced by more global factors, and short-term artificial fluctuations are quickly smoothed out.

    How do you assess the prospects for the development of the cryptocurrency market?

    Unfortunately, I do not have the gift of foresight, but I think that now we are at the very beginning of the formation of a completely new settlement system. Cryptocurrencies are a kind of evolutionary leap, almost like in their time the transition from a barter to a monetary settlement system. This is a difficult and long way, because at the moment, more than 90% of users of the global network, in principle, do not understand what cryptocurrency is and where it came from, and what to do with it and why it is needed, and even more so. Therefore, the further distribution, and even more so the crowding out of familiar money, is only a matter of time. At every step I came across a similar one in 2006-2007, when car dealership representatives had to literally explain on their fingers what Internet advertising is ( - approx.) and why it, too, has the right to exist, along with the print newspapers and magazines familiar to them.

    That is, in fact, in those days we were engaged in improving the level of computer and Internet literacy of clients. And already in 2011, the revenues of individual online media exceeded the income of their print colleagues, and now online advertising has firmly taken a leading position, even overtaking television in some segments. With cryptocurrencies, we are witnessing a similar situation - it takes some time and effort to bring their idea to a critical mass of people, but when this happens, then I hope we will see explosive growth in this direction.

    - Thanks, Roman. On this optimistic note, we, perhaps, will finish. I wish you success in storming the heights of this difficult market, quick investments and profits. And may cryptocurrency be with us))) You

    can familiarize yourself with the project in more detail on our collective investment platform VCStart .

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