BQT Exchange Platform provides secure, interactive and flexible P2P Trading Environment and user-friendly interface for its community to manage various types of transactions consisting of many crypto assets.
Here’s what Edward W. Mandel said about his Crypto Exchange and Trading platform and the latest news in the industry,
First of all, tell us something about yourself
– I’m a technologist and entrepreneur (CS and MBA from UT) and executive figure overseeing private and public companies including M&A. I was previously an EY ‘Entrepreneur of the Year’ finalist and have gained various entrepreneurial awards from Deloitte and other prestigious groups. More recently I received the ‘Digital Innovator Award’ from the Advanced Imaging Society on behalf of Global 3D Media.
Over the past few years, I became fascinated by blockchain and assisted in a few projects as an ICObench expert. As well writing editorial columns and blogs about the subject. I’ve also been involved in blockchain education and successfully built a decentralised social crypto exchange called BQT.
When was the company launched and how many members were there initially? How strong is the team now?
– BQT was launched in early 2017 by a small group of experts and developers. Since then it has successfully grown into a team of few dozen blockchain professionals (including Luca Cotta, a core member of ETHlend) and large development team in Asia (with our HQ in Hong Kong) and Europe.
If you don’t mind, tell us more about the strengths of your team. What is their average background and experience?
– We have talented contributors working for BQT all over the world, with full-time developers in both Hong Kong and Europe. In my view, our biggest strength is our sense of community. We have some amazing talents in tech and marketing, who know what needs to be done and execute their strategies to perfection.
Alexander Karolik Shlaen has done an excellent job connecting with high net individuals throughout Asia for us. He has a world-class understanding of the region, and I am grateful for his dedication and knowledge while Emi Wada has been immense in overseeing the Japanese market for BQT and has shown tremendous dynamism in her work.
Everyone at BQT is passionate about our hedge platform, and I am proud to oversee a diverse and innovative team, who have a wealth of talents in the blockchain sphere.
What was the motivation behind starting this project?
– I passionately believe in decentralisation and that the exchange market is in urgent need of change. While some companies are motivated by listing fees and copy the big players such as Binance, I believe in the future impact of blockchain technology. My goal has been to build a community-driven exchange, where peer-based traders could learn from each other’s success, connect to each other’s channels, rate each other, and create hedge and leverage trades against their crypto while having the BQT community bid for them.
We aim to give traders control of their wallets, while the company takes an escrow custodian role to guarantee trades that are currently in play.
Marketing is impacting enterprises? What are the top trends you see are entering the marketplace?
– BQT is a community social exchange driven by individual traders, so WOM is our marketing. We already have over 500,000 traders whitelisted for beta and registered to our alpha version. We should see over 1 million traders once our beta is launched and grows.
BitMex is a fantastic example of interest in leverage trades with volumes of $3 billion daily on a bad day. However, it’s a centralised platform and does not give traders control of their wallets. There is also no transparency on BitMex and their trades can be easily impacted by shorts killing their positions.
In my view, the demand for a new hedge leverage trading is growing every day. So by creating a community-driven P2P decentralised environment it will elevate the demand for a flexible trading service even further.
People are getting bombarded with content and advertisements. In such a competitive space, what is the right way to get your target audience eyeballs on your platform?
In my view, consumers don’t dislike ads per se; they hate bad ads. With ad-blocker ubiquitous, it’s essential to give audiences relevant content that appeals directly to their social and economic needs. Ads need to complement platforms not jar against them. The right way is to ensure that adverts don’t disrupt the social browsing experience in an intrusive or disruptive way.
What is your marketplace about?
Our market is crypto traders – it’s that simple, especially those that live hedge and leverage trading such as Bitmex. It allows traders to negotiate their crypto asset trades directly with one another and share their experience with the BQT community.
Will there be a fee needed to use your platform or digital product? If yes, how much?
BQT charge a 1% transaction fee for instant trades and a 3% escrow fee for hedge trades. All fees are payable only with BQTX tokens to help ensure the liquidity and utilisation for the tokens. Furthermore, BQTX tokens can also be used as escrow collateral for some trades or added as additional collateral.
Who basically is your target audience?
Our target audience is global foreign currency traders and crypto enthusiasts.
Are you satisfied with the current business model? Please elaborate
I am extremely satisfied with our current model. We bring transparency, creativity, flexibility, and a community social trading experience to traders.
What are your future growth plans?
We will soon be adding e-commerce features and allowing BQTX tokens to purchase educational courses, consumer electronic items, travel, and other services. We are also keen to publish new listing requirements for tokens we vet on behalf of our traders.
Any company that wishes to list on the BQT platform will need to share % of their tokens for every BQTX holder as an initial airdrop, as well share a % of their tokens supply for special swap offers.
We are also contemplating getting the security token fork of BQTX released in Q4 of 2019, which would carry dividends for a % of exchange revenues.