This varies greatly depending on the market situation. Currently in gold. As soon as Bitcoin has stabilised again, the exchange is worth it again. Unfortunately, I personally don’t have much time to act on my own. But on our platform, trading programs can also be connected via interface, which can trade themselves according to certain parameters.
What do you think about the news spy?
Do you think the Lightning Network will be successful? Scaling and low transaction fees are the news spy. At the moment there are many rumours that the Lightning Network will centralize Bitcoin, but Bitcoin is quite central at the moment if you analyze the mining. We believe that the lighting network will become a central part of the news spy. SegWit has already done the groundwork and Lightning is building a secure fast transaction structure that is very useful for various applications but not for others. We are currently working on a test implementation, but the security of our customers’ assets is a priority. Lightning must pass several tests before we can activate it.
In analogy to gold, do you see the crypto currency Bitcoin only as a value retention system or also as a currency system with a clear payment transaction task?
Clearly, crypto currencies will modernize payment transactions in the future. But this can only be successful if the interfaces are right. If I send someone 1,000 Euro “value” to Japan, I personally don’t care what the recipient receives his value in, whether in Yen, Bitcoin or Gold. The blockchain will play a central role in securing these transactions. It remains to be seen whether Bitcoin is suitable for value retention. Because that does not only depend on the functionality. Gold is also not practical in itself, but over the millennia it has had to maintain its status as a store of value. Due to the speed of our platform, gold is now becoming a kind of means of payment: You can sell gold in milliseconds and buy something with the Bitcoin you receive in this way.
What are your goals for 2018? What projects are on the agenda?
In Vaultoro we see a multi-asset trading platform with a lot of potential. We want to enable access with other crypto currencies and also the purchase of other precious metals. At the same time we want to give traders better tools like a better API and charting tools to make better decisions. This will all come in 2018. For customers who only want to save in gold, our new product Bar9 is in the starting blocks, a simple gold wallet with a precious metals portfolio. First, we offer the classic saving of gold for the European market, accessible with SEPA credit transfer. With the feedback of our customers we will then build the Bar9 Wallet parallel to Vaultoro.