Coinhako, Tezos on building a blockchain startup and the future of cryptography – Health Guild News


The field of digital assets has experienced unprecedented growth. The digital market was valued $ 962.2 million in 2020 and is expected to reach $ 8,158.6 million in 2026.

From Singapore becoming a cryptographic hub to the scale of a business, there is always a lot to learn from a business standpoint.

In a roundtable as part of the Singapore FinTech Festival 2021, entitled Startup Stories – Blockchain & Digital Assets, moderated by Tim Draper of Draper Associates, we heard Arthur Breitman, co-founder of Tezos and Yusho Liu, founder of Coinhako, about the details of creating a blockchain startup.

The importance of building culture

Arthur Breitman, co-founder of Vulcan Post Themes / Screenshot

When it comes to building a successful startup, in addition to having a stellar product, one of the other things you need to pay attention to is people.

After all, a company’s culture is something the founder projects, which is exactly what Arthur de Tezos hopes to do for his company.

In the world of cryptocurrency and the blockchain, credibility is especially important to Arthur and therefore should never be promised again.

While the road can be long, it is important to remember that it will improve “gradually.”

So you’re not dreaming of this big thing that could happen years and years into the future. It is only a constant progressive progress.

Arthur Breitman, co-founder of Tezos

For Coinhako’s Yusho, the importance of creating culture came when his team began to grow. Yusho attributed the fact that they had offices in different locations as the main impetus for “building conscious culture.”

“I would say, having two separate teams and those teams that are growing exponentially, it wasn’t as easy as before,” Yusho said. “It’s not as easy as writing the values ​​in a spreadsheet.”

It’s a lot about people, communication and interaction and, most importantly, setting an example.

I think COVID-19 has also upset us, in a sense you already know, we don’t have that much time to face. It plays against us, even though we are through a purely digital business. Right now, we spend more time syncing again, just so everyone is on the same page.

Yusho Liu, founder of Coinhako

Scale a startup

Yusho Liu, founder of Coinhako
Yusho Liu, founder of Coinhako / Vulcan Post Screenshot

As exciting or innovative as a startup is, it can’t stay as a startup forever. The escalation of business is almost a natural progression for companies that want to have more impact.

That said, expanding a business is not an easy task: growing pains and teething problems are part of the process.

In startups, hiring is one of the most important things to grow the business.

Arthur believes that as you grow, you can afford to hire more specialists. But a smarter way is to look for people who have worked in different environments and understand the painful points of the transition.

“They’re people who have been in the organization who went from 20 to 2,000 people, and that’s a skill.”

Yusho acknowledged that hiring at first is very different from hiring as the company grows.

In the early days of a company, we were eager to find “superheroes” who would do anything and wear various hats. Over the years, I realized that having good people is one thing. But most importantly, finding people with heart and enthusiasm for the product, business or industry is very, very important beyond the experience and skills they have.

Yusho Liu, founder of Coinhako

He stressed that for a business to be successful, they need people with drive to make things happen. These qualities are essential for a company to grow.

“And as we expand, that’s where we need stellar middle and senior management, which are crucial to developing more layers in the company.”

Tim of Draper Associates seconded this idea and stressed the importance of having capable people on your team and relying on your team to try new things.

“I think as it expands, you need good operators who have very good controls, but you also need people who feel free to try new things. This tends to decrease over time if the business is not well managed.”

A look at 2022 and beyond

Blockchain and digital assets SFF 2021
(LR) Tim Draper, Arthur Breitman, Yusho Liu / Vulcan Post Screenshot

Since we are at the end of 2021, it is only for this reason that we see these leaders looking to 2022 and beyond.

As someone who likes to connect people and use blockchain to solve problems, Arthurs said he wants to continue to do so on a larger scale.

“What I hope to achieve in 2022 is basically being able to transmit and communicate with the different actors in the cryptographic ecosystem or contribute to Tezos,” Arthur said.

We still live in a world where people see blockchain transactions as something that is scarce. It’s all based on the assumption that transactions are scarce and very limited in the number of transactions you can make. We will change that at the end of 2022.

Arthur Breitman, co-founder of Tezos

Coinhako’s Yusho, on the other hand, has two goals for 2022. The first is to improve the accessibility of the cryptocurrency, and the second is to “help projects and connect projects in Southeast Asia, as well as bring projects from South Africa. East Asia to the world. ”

“By the end of 2022, hopefully, Coinhako will become a complete set of cryptographic services with a wider range of products to serve a much more diverse range of customers.”

We believe that Singapore will be the cryptographic center of the world. For next year, which is in just 12 months, we definitely want Coinhako to be licensed and recognized in several Asian countries.

From day one, we have been taking the first compliance approach since we introduced the app in 2019. While this has slowed growth, we recognize its importance.

Yusho Liu, founder of Coinhako

Tim Draper also believes in the potential of Singapore to be a cryptographic hub.

“I think Singapore is a country small enough to be able to claim that leadership. But I think they have to allow for a very light touch and be willing to allow central banks to reinvent themselves.”

Featured Image Credit: Singapore FinTech Festival 2021

Also read: Coinhako’s first non-bank cryptocurrency exchange to seek approval in principle to provide DPT services

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