Interviews 10 September 2018CoinGeek
Gregory Van den Bergh: Security tokens are the next wave in crypto
CoinGeek’s Becky Liggero spoke with Bankorus CEO and founder Gregory Van den Bergh on the disruptions coming to the blockchain and financial industries.
Bankorus’ Gregory Van den Bergh first developed an interest in blockchain around the time he was taking his MBA in Beijing, and working on China’s first robo-advisor, used for financial management. “We noticed we had a problem with a lot of the data that we were managing, and that’s how we came into blockchain,” he said.
Beijing, he has discovered, “is the crypto capital of the world. A lot of the big projects come out of Beijing. If you look at the exchanges, Huobi, Binance and OKEx, the top three exchanges all come from China, so it’s easy for us to hire people because human capital is really our scarcest resource. That’s why we’re headquartered in Beijing.”
Bankorus offers high net worth clients a blockchain-powered wealth manager, where they could trade security tokens. On the anticipated tokenization on the Bitcoin Cash (BCH) chain, Van den Bergh said, “The more chains that support security tokens and securitization on the chain, the better. I was actually with [Bitcoin.com CEO] Roger Ver in Korea not so long ago, and he was actually talking about doing this. I think every chain should support security tokens and security token standards.”
The potential of the industry is barely explored, Van den Bergh believes. Bankorus, according to Van den Bergh, is “the one-stop shop for people to buy and sell security tokens and to manage their wealth on the blockchain.”
“In the same way that you now use Amazon or Alibaba to buy and sell stuff or Google to search things on this thing called the internet, you can use Bankorus to buy and sell and to manage your wealth on the blockchain,” he said.
As awareness of blockchain grows and people are educated about it beyond just watching prices go up and down, that is when the practical purpose of the technology will be realized. “I think the next wave we’ll see after a lot of the retail people, and the [BTC] in the $20,000, start to dabble into crypto. I think now a lot of the institutions are coming in, not just with blockchain solutions but also in the investment side. I notice a lot of family offices here looking to invest in particular projects and get an access to the market. So I think the next wave after we have this retail wave in the last six months will be high net worth family offices going into [the blockchain] space. And for institutions, a lot of them are interested in the custody problem as well as security tokens which are, we believe, the next wave,” he said.
There are parallels to the evolution of internet websites, he noted. “Innovation normally goes in threes. If you look at social networks, you first have Friendster, and you have MySpace, and then you have Facebook, Facebook being multiple times bigger than anything else. In crypto, you first have Bitcoin, then you have Ethereum and the ICOs, which is even much bigger than the whole Bitcoin ecosystem. And then after that, we believe the third wave is going to be security tokens, which is going to be exponentially larger than anything you’ve seen before in crypto,” he said.
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Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
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