Cryptos Can Work Hand in Hand with the Existing Systems - Iman Mutlaq, Founder & CEO at INGOT Coin
Cryptos is a new service that could add more efficiency, transparency, reduce the time and shrink the fees in the existing systems, according to Iman Mutlaq, the founder and CEO at INGOT Coin.
Iman Mutlaq is an entrepreneur and crypto and finance expert. She will be a speaker at the Blockchain International Show London – the large-scale event devoted to decentralized sphere. The expert will deliver a presentation titled “Filling the gap between crypto universe and the traditional financial world”, discussing advanced solutions. In the interview, Iman Mutlaq evaluated the connection between cryptocurrency market and the traditional one. She also explained the standard industries disruption by blockchain and talked about INGOT Coin.
Interviewer: Blockchain International Show London (BIS)
Speaker: Iman Mutlaq, the Founder and CEO at INGOT Coin (IM)
BIS: Hello Iman! As you are going to talk about the way to “fill the gap” between crypto and traditional finance worlds, could you tell us, why is it important to have a connection between them? What are the negative impacts of separating these two worlds?
IM: We have witnessed the huge trend in the cryptocurrencies in the previous two years as more investors are switching their investments into Cryptos because they believe that the industry is going to be reshaped. The crypto and the traditional financial markets are quite segregated for a participant attempting to cross over or move their capital from one market to the other. The segregation is a result of large transaction costs, time and money. It is important to link these markets together to give the participants the ability to switch their funds smoothly and swiftly and provide an exit strategy to the investors.
BIS: Could you tell us a little bit about how Ingot Coin helps to build a bridge between cryptocurrencies and traditional finance world?
IM: INGOT Coin will create a one stop shop ecosystem that will bridge the gap between the current financial market and the crypto universe, this ecosystem will be based on 6 pillars ; IC Digital bank, IC Exchange, IC Brokerage, IC Wallet, IC Certifier and IC ICO Accelerator. INGOT Community participants will open one account and fill one KYC & AML form to give them access to four accounts, the bank, wallet, exchange and brokerage and by doing so the participant will have the opportunity to trade on Cryptos and different types of traditional assets such as stocks, bonds, ETFS, Commodities etc. Moreover, the bank will be the custodian for the fiat currencies and the wallet will act also as a custodian for the crypto funds.
BIS: Some experts believe that blockchain and cryptocurrencies are disrupting the traditional financial industries such as banking, for example. What do you think about that?
IM: We think that blockchain will help improving these industries but it will not disrupt them, we see that there are two extreme opinions on the blockchain technology, one says that blockchain and cryptocurrencies will end the banking era and remove them completely and the other says that cryptos will not survive and it is just a bubble. In my opinion these extreme beliefs are wrong with all due respect to them, because cryptos are new service that could work hand in hand with the existing systems to add more efficiency, transparency, reduce the time and shrink the fees.
BIS: What methods linking two markets have been used before? How successful were they?
IM: There are projects that link crypto exchanges with crypto wallets also they added the banking feature to give investors the opportunity to link their Crypto wallets with their bank accounts, also there are projects that offer blockchain certifications. What I am trying to say is that if you look into our Ecosystem components separately you will find huge number of competitors and honestly, they have succeeded. However if you compare our ecosystem to other existing ecosystems, you will find that it is different and unique because it combines all the services needed to bridge the gap between the crypto markets and the current financial markets.
Meet Iman Mutlaq at the conference and get all the answers to your questions!