Antonio Brasse’s BlockQuake sees the blockchain as a tool that empowers both enterprises and consumers financially, which is one of the reasons why BlockQuake decided to host its current fundraising round on-chain with a utility token that gives its owners perks such as zero-fee trading and more.
“As someone with a background in financial services, I am familiar with the VC/PE/IB model that is prevalent when it comes to raising capital. Startups generally have to give up a certain level of control of their company as well as aspects of their vision that would be beneficial to the masses. By going the crowdfunding route and bootstrapping, we as a company can hold onto that vision and direction that people believe in,” said Brasse.
“This was part of our way of letting the community be involved in our growth and development as well as creating a path for us to give back to the investing community through various perks including free trading. If we’re going to be for traders by traders and for the people by the people, we need to give the people the opportunity to back us and be a part of what we’re building,” he added.
On-chain vs. Off-chain
Raising capital on-chain is aligned with a cornerstone of blockchain philosophy: decentralization. By removing intermediaries and barriers to entry and by allowing everyone to contribute to a business’s growth and success, blockchain-based businesses tend to see the fruits of their labor much faster than enterprises working through conventional mediums. For example, most fundraising rounds take anywhere from 6 months to 1.5 years to complete but blockchain-based capital raises typically begin and end in the same week, and more often than not, blockchain fundraising rounds garner interest that exceeds their availability.
Beyond letting enterprises bootstrap their businesses faster, on-chain fundraising has positive effects that conventional methods of getting a business off the ground typically don’t experience. Community is an example of this; community is a pillar in any blockchain-based business and unlike individuals that own shares of a company, individuals that hold coins and tokens often act as apostles for the blockchain-based entity they support. A strong community will help the brand when it comes to grassroots marketing, product awareness, and new user acquisition.
BlockQuake’s plans for the future
“We have a number of initiatives in our roadmap that will help democratize finance and bring financial inclusion to all in ways not yet addressed by current players in the space. We’ve always had a vision of creating waves or seismic shifts in this space through the merger of the crypto markets and traditional financial rails to give everyone better access to more financial services options,” said Brasse.
“The raise will support complementary initiatives such as the expansion of banking partnerships and development of Broker-Dealer / Alternative Trading System entities. This is where BlockQuake’s crypto exchange morphs from an exchange to a global financial hub, being able to offer a multitude of crypto and fiat options to all of its users.”
BlockQuake is ready to expand and it wants its investors and consumers to participate and receive direct benefits in its growth. The QuakeCoin token is critical in its mission to accomplish this because it acts as the membership card that allows its owners to capitalize on unique benefits and because the funds raised from QuakeCoin purchases will fuel BlockQuakes plans for the future, such as creating an NFT marketplace that empowers the community with multiple blockchain choices, launching a derivatives platform for high-frequency retail traders, family offices, and institutional clientele, obtaining regulatory licenses in multiple countries, and more.
“We promote consumer protection through transparency and regulatory oversight as well as enhanced security measures including hot wallet solutions using MPC technology, third party fiat custodians, and mandatory app-based 2FA. Many exchanges lack transparency and accountability, and as a result, their users are at risk should the exchange cease operations. BlockQuake is listening to the needs of the community and we need the community’s support. BlockQuake is the company this industry needs to move forward into maturity and mass adoption,” said Brasse.
You can find out more about the QuakeCoin Exchange Token Offering and BlockQuake’s plans for the future by tuning in to the Global Blockchain Convention livestream on May 25 at 11:30 GST to hear BlockQuake CEO and co-founder Antonio Brasse, CPA, CIA, CFSA, CISA, CAMS, speak about The Future of Digital Asset Exchanges & Investment.
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