By @SimonCocking

What is your background?

I am the founder and the Executive Director of FxQuantum Ltd. which is my brainchild. I have over 11 years of financial market and entrepreneurial business experience and expertise. My career in finance and investment banking started in 2006 and since then I have been working in senior positions at high profile international financial organisations like Saxo Bank and A/S & ADS Securities, focusing on HNW clients, brokers, and fund management firms.

I have an extensive first-hand experience of foreign exchange and investment banking and have a decent understanding of the conditions prevalent in the market and how to trade with and around them. I believe, it is this knowledge which brings me to Covesting team as an advisor, to help them with my expertise and skills to bring the most innovative solutions in cryptocurrency trading, a cryptocurrency copy trading platform to reality.

 

How and why did you get involved in blockchain?

My interest in blockchain is dated back to 2010 with the debates that were going on back then among the financial community about the bitcoin as an alternative to the existing currencies. Being in the financial industry, I have and had been always close to these debates, raised with the rise of this new trend in the blockchain industry. My involvement is a consequence of my increased interest in the blockchain and I believe that we have a long way to go in this new emerging industry because we are witnessing only the beginning of a new era in the digital world.

1 min pitch for why you find Covesting project interesting?

I have followed Covesting and the management team behind it for some time and have been impressed by the young and spirited team with great track record and reputation in the financial world, along with high ambition and fantastic business plan. Covesting has already received a lot of positive feedback and response from investors and experts from around the world. The achievements realised till date demonstrate the capability of the team to fulfil the project within the committed deadline. Our dedicated development team is working hard to deliver the MVP (Minimum Viable Product aka prototype) version of Covesting platform as early as November 20th, right before scheduled ICO on November 24th. This would allow all the members of the Covesting community to get familiar with interface and core features of the platform and see how its functionalities work. Additionally, Covesting, once launched, will provide performance results, reviews, detailed descriptions and information about all previous trading activity for every single expert trader so both investors and traders can get access to the most bespoke solution using Covesting copy-trading platform

I am excitedly looking forward towards becoming a part of the evolution of a company that, I totally believe, will become a successful project and significant player in the blockchain industry.

Do you have great experience from other projects, what are your tips for a successful ICO for Covesting?

 

I have previously taken part in launching FX business start-up firms, but this is the first time I am a part of an ICO launch for a cryptocurrency platform. ICO model requires certain elements and processes to be successful. Unlike the traditional stock exchange introduction through IPO model. the Initial Coin Offering (ICO) is usually new digital currency units and in our case with Covesting, we created tokens named COV. These tokens are designed to be used by members within the Covesting platform and that includes investors, individual cryptocurrency traders and fund managers.

In our project, a total of 20.000.000 Covesting tokens will be generated, including 1.500.000 to be sold via pre-ICO, and 15.000.000 to be sold via ICO. Another 2.500.000 will be shared between the founders and locked in a smart contract for 3 months, while the rest will be generated for advisory, bounty and PR pools. Unsold COV that was created for sale during the pre-ICO and ICO will be burned. At the later stage and once the Covesting platform will be launched the members will need to buy COV tokens to subscribe to the trading models using the copy trade function and in 2 years there will be several thousand active users which will lead to strong demand for COV tokens.

Covesting has also implemented a comprehensive social networks campaign on Twitter, Facebook and  Medium  together with interviews in specialized magazines and newspapers which has increased the exposure of Covesting project around the world and as far as I can see there is a very positive feedback, mainly from potential investors who want to be part of the company in the very early stage.

How do you evaluate good projects? Most important aspects?

The “good project” needs to fill a need in the marketplace and Copy trade is a revolutionary structure where it allows people with less understanding of the markets or no time to dedicate to trading to see what more experienced investors are doing hence the idea of creating the Covesting platform. So the idea is revolutionary and saves a lot of hassles for both investors and fund managers.

Create a legal communication with all the parties concerned and that’s why it is crucial to define the terms and conditions.

PR is also a crucial element in the “good project” as it needs the exposure to reach the largest audience and be visible to people whether directly or via the media. Covesting team has chosen the most effective PR strategy to implement and our aim is to get valuable and highly targeted audience who might decide to become a part of the Covesting community.

How do you see future of crypto economy / blockchain overall?

I expect that within the coming 2 to 5 years cryptocurrencies definitely will be gaining ground and will most certainly have more widespread usages. The increasing popularity of cryptocurrencies around the world will be the key factor for the emergence of new players in the new digital industry, making it easy for large-scale users including developing trading platforms, payment solutions, protection systems etc…

Cryptocurrencies are here to stay!

Business Showcase : Covesting


If you would like to have your company featured in the Irish Tech News Business Showcase, get in contact with us at [email protected] or on Twitter: @SimonCocking

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