Dash People
Member
Vasily: Hello!
H: Well, my first question: How are things really going in Hi-Tech Park? How does this degree work in practice?
V: Yes, you know, any legal entity that is a resident of a high-tech park has the right to carry out certain actions with crypto currencies: that can be mining, withdrawal to the ICO, payment for all kinds of services in the crypto currency. But it turns out that no company has yet entered the park of high technologies, with a similar offer of services.
H: Before the interview, you said that your company is a resident of the high-tech park, but with a qualification.
V: Yes, the potential resident. Perhaps, there will be a first meeting to discuss the joining the direction of the blockchain and the crypto currency in may in this year, and we'll see what will happen. We will submit a little later, the project is ready, our project is already under consideration.
H: What do you do?
V: We are engaged in the implementation of blockchain technology in existing businesses, as well as full support for the withdrawal of ICO, starting with the development of smart contracts and ending with marketing support.
H: That is, for you it does not matter what kind of activity sphere you work with?
V: Absolutely. We simply analyze the situation: its technical components, economic components, then we introduce the blockchain system either into payment systems or into information processing systems.
H: Tell me, please, the situation that exists today with the application for participation in the high tech park, but in fact registration has not yet begun, what is the reason for this situation? With the fact that, for example, tax inspectorate, prescribe their own regulations, that is, they are not ready to implement this in a procedural way, or is there another reason?
V: There is still no such legislative base. That is, everything is allowed, but you understand that such total permissiveness can lead to serious losses, including for the image of the country, because the decree is really very resonant, a lot of western media come to us, also for the financial situation: the worst thing - decentralization of the economy, money laundering. That's why everything goes very smoothly, the regulators, I believe, will see how things are with individuals who can do mining legitimately , and estrange the crypto currency. What will happen after the first meeting, specifically regarding the blockchain management in the high-tech park, when, possibly, someone will get permission for this type of activity, is unclear. But I think, that mining will not be taxed, if the resident conducts all kinds of operations with the crypto currency.
H: But nevertheless, there is a point, that the crypto currency is defined as an asset ..
V: It is not a means of payment, it is a commodity.
H: Yes, and it needs to be reflected somehow in the report.
V: Yes, and how to perceive it in the accounting report is not yet clear, there are no relevant documents, that is, it's just a commodity that does not impose taxes if you follow the decree's instructions, so we are waiting for some prescriptions, I suppose, some operational actions, so that the situation can not be hacked at the root, because a lot of business initiatives, huge companies, investments ready to invest in the economy of the country. Well, that this was not connivance and that Belarus did not become a country of money laundering or some unhealthy economic operations.
H: From your point of view, what is the main goal pursued by the government? After all, from the position of the world community it is quite a bold step, because we know that there is such legislation, for example, in Japan, but this market is not regulated yet, in other countries it is under development, and suddenly your country comes out with such a brave decision.
V: It is not implemented yet. Everything is allowed, but no progress has occurred after the authorization.
H: That is, there is an intention, a declaration?
V: Yes, we are ready, we will think, analyze, look at how these or other business processes take place. On the other hand, it is a vector of development of the Belarusian economy, we do not have any global resources, we have been long positioned as an IT country, there are a huge number of IT projects, a huge number of powerful brands give us outsourcing. When there was a park of high technologies, when there were incredible tax benefits for residents who are engaged in the export of IT products, we saw the financial effect, we saw an increase in workers' welfare, an increase in the inflow of foreign currency into the economy.
H: Well, such technical, organizational moment: now 1000 applications or more are in the status of expectation. You mentioned that registration passes through the presentation procedure, right?
V: The project is submitted to the committee, they are considering it, and if they see it as a perspective one, they invite you to the presentation, and all the details are being discussed at the meeting.
H: Given that applications for participation are now accumulating, how quickly will this process take place? If each application is carefully considered, collects separate commissions for this. This can happen only in the next year, when this project, for example, may become irrelevant. How to deal with this?
V: It is unclear. First, there are many steps, absolutely non-viable ideas are eliminated before the presentation. This is quite difficult to do in terms of legal support, many simply do not pass the time of agreement.
H: That is, it not so simple. And what are the criteria? What kind of activities will be in priority?
V: Firstly, the perspectives of direction, so that people understand that if the potential resident receives these benefits, there will be an increase in production, an increase in the productivity of workers, an increase in gross revenue. Secondly, that this was an export project, first of all, that about 80 percent of the dividends received should be export services. Well, and some secret, like a high level of salaries, high productivity of employees, high qualification of employees, all this is taken into account, of course. And, as we again return to the blockchain, there are no parameters to understand whether this or that blockchain proposal is promising. There are no parameters, as far as it will be claimed abroad, so everything is gradually accumulating.
H: Well, if we are talking about the ratios of participants, investors, do you think that will be preferred the investors who are the residents of the Republic of Belarus are members of the organizers, owners, or foreigners who are exclusively from Europe, or America, or Russia .
V: I did not see any explicit instructions.
H: Everyone is equal?
V: Of course, it is impossible for everyone to be equal, but there are residents in a high-tech park with different authorized capital, with different shareholders, so it's not exactly important.
H: If you have information, what are the applications for today? If there are exchanges or other projects?
V: If I am not mistaken, the first wave is ICO projects, blockchain projects, but, probably, the first Belarusian exchange, the first Belarusian crypto exchangers will soon appear, but, probably, this will not be the first wave of applications.
H: Do you have information about how banks react to such a phenomenon as a crypto currency?
V: They do not really understand what's going on, and I can say that the certain regimes are not included yet. And without the introduction of the banking system, the operation of any financial institutions is rather difficult, that is why there are already a huge number of investors who would like to open all kinds of crypto exchangers and Belarusian exchanges with such a decree and are ready to fulfill financial conditions, but without a tight connection with the banking system is, unfortunately, very difficult.
H: According to your forecasts, when will this mechanism work fully?
V: Firstly, we must take into account the world trend in this area. After the summer it will be clearer that the principle will occur in the blockchain industry in the world economy, as the major economic powers will react. And, as the country that is preparing the product for sale, we will already adjust, and thus the state will make those or other initiatives that will either discourage or encourage the development of certain initiatives.
H: I would like to know your opinion. In my understanding, the high-tech park would look like a certain street, with a high-rise buildings ...
V: Yes, drones are flying, and people are on unmanned autos. In fact, it's just an institution that regulates the activities of residents of the high-tech park, a huge number of companies that are already residents are not located here, located around the world, some companies are located in close proximity, but this is not the main factor.
H: So this is one of the typical buildings ..
V: Yes, it is a regulating institute that deals simply with ensuring the functioning of the entire ecosystem, which includes both educational history, tax benefits and so on.
H: And the last question of a personal nature. Why are you personally engaged in the cryptosphere, what do you see here as perspectives or benefits?
V: I’m a marketer by education, and I've always been involved in the marketing of more understandable products, and now, when we saw the huge growth of the market, which pulled the requirements of professionals, appeared, as your example, the development of additional media, which are also interesting as marketing platforms, partnerships have been established. Honest technology. We, when we see that you can clearly bound your work to smart contracts, and understand the source of information. Well, there is also the hype, you need to follow it somehow.
H: Do you have some personal preferences for crypto currency?
V: We always invest in what we do. If a project comes to us with a request to withdraw one or the other token on the ICO, we believe in what we do and always invest in the specific currencies.
H: Do you think that today the ICO boom has passed or not?
V: I think, there was a huge amount of a scum, and it's necessary that some kind of market sanitary officer appear, so that when the scam goes away, there will remain viable projects that not only because of the hype bought all the tokens in a row in 2017, when there was an incredible dynamics of market growth, but will realise that there really were good projects that are needed, in which there is a prospect, and then, perhaps, growth will happen again.
H: Vasily, if you are meeting with a client who asks you to help in the ICO, if you see that this is, how to say, not a running one, that is, this project can not be implemented, do you undertake such a project or give recommendations?
V: Usually, part of the options is in the currency that we enter on the ICO, if we see that there is no perspectives, we understand that the project itself is unprofitable. But, often, there are naturally many customers who do not think about the future, and their task is simply to raise money.
H: Here your reputation is attached too.
V: Yes, and we do not hide anywhere, because it is already somehow allowed in Belarus, it allows us, unlike, say, from Russian colleagues, to be advisers of certain projects. Naturally, when we see that this is an absolutely unviable project or it may become rampant, then we simply tactfully warn about potential results.
H: That is, you are still honest and frank.
V: Yes, again, we declare everywhere that this is our project. We publish on our site all our cases, we are proud, we understand, what is not perfect. But we have always believed, therefore we invest our funds in the ICO, which we ourselves promote.
H: Are there any investors from Russia among your clients?
V: There are no projects implemented, but when the first information about the decree passed, from January to March, a huge number of people came, not understanding the essence of projects and the essence of the industry, but simply with a bag of money, «I want a crypto-exchanger, or I want to launch my own exchange». It seems to me that people who do not understand the essence of the whole sphere and the essence of prospects have now been cooled by the dynamics of the market over the past 3-4 months, and there are fewer of them, and more people who are acting more steadily. There are customers from Russia, we are in dialogue with them.
H: Do I understand correctly that if someone from Russia is interested in a high-tech park and the opportunity to start their business here, they can turn to you? And you will accompany the project from beginning to end?
V: Yes they can. We are in a collaboration with a small attorney's office, which is supported by many companies, and we understand how the project should look, so that it receives approval and how to present it.
H: Vasily, thank you very much for the commentary, and I hope for the future meetings, because we are very interested in learning how the process of development is going on from the inside.
- Thank you! See you!
- See you!