Daryna Kazariants, professional financier, project manager of MOSBY Asset Progressive Fund Limited in Central and Eastern Europe tells about the main features of the development of crypto currency market in Ukraine.
Crypto currency is rather new and unusual phenomenon for Ukraine and the Ukrainian business community. Please, tell the readers of our magazine, what is the innovation value of crying out?
– First of all, the innovative value of crypto currency is that it allows you to provide financial services of the next generation. What does it mean, in fact? We mean three basic things – anonymity, efficiency and reliability.
Anonymity allows a person who wants to operate at the market of crypto currency to be engaged in financial transactions without fear of close attention of supervisors and fraudsters.
Efficiency allows avoiding those occasional bureaucratic procedures that are unfortunately common for the global banking system. In addition, many banks do not work at the weekends not only in Ukraine, but also around the world. Due to the market of crypto currency, you can carry out financial transactions at any time and on any day, transferring funds to any part of the world instantly. I want to mention a few aspects – one of them is the limit on the amount when you transfer funds from Ukraine, then our banking system sets a limit on the amount of transfer, that is, you can send up to only $ 500. When your funds are in bitcoins, this restriction does not exist. The second aspect is the percentage of the transaction. Our banking system sets payment for a transaction up to 20% depending on the amount, making a transaction in bitcoins; the maximum payment per transaction is up to 3%.
Reliability lies in the fact that the crypto money and, first of all, bitcoin does not undergo any influence of inflationary processes, that is, the currency in bitcoins can not be depreciated.
What has prompted you to deal with the innovative business at the market of crypto currency?
– I graduated from the Kyiv National Economic University majoring in banking. I have got experience at the various financial institutions.
MOSBY Company and its three founders from different countries, whose names I do not have the right to disclose, drew attention to my activities and my achievements. I successfully completed a number of investment projects on behalf of the company – thus, I received a proposal to join the development of the crypto currency market in our country.
I hope Ukraine will join sooner or later those countries where bitcoin has been recognized as an official means of payment.
“All countries that had recognized bitcoin as the official means of payment, have got the stabilization of the economic system”
Can our country be regarded as a perspective one for the global market of the crypto currency?
– Company MOSBY has started its activity in Ukraine not in vain. I can say, without disclosing corporate information, that there is a certain number of people that took part in the mining of bitcoins through the mediation of our company. These people are representatives of business and political elites, and their activity makes us believe that the development of financial services of a new generation in Ukraine will have a great and interesting future. I would like to point out that MOSBY owns certain assets in land and subsoil property in South Africa, in the Kingdom of Lesotho. This is the most optimal place, according to all technical characteristics, for the mining of bitcoins and can act as the guarantor of our activities.
Why have you chosen such a distant country as Lesotho for development? Are there some preferences for doing business in this country?
– Well, at first, in Lesotho the land is in our property. For over 25 years we have been in this area being engaged in the mining of gold and diamonds, and also entered the large Chinese conglomerate that is one of the largest owners of this business in Africa. Therefore, the establishment of a landmine farm takes place on our own land.
Due to this, those investors who work with us in this area have a high profit of 50% of the total profit.
The second point is that in this South African country, the conditions for conducting such a business are the most favourable ones. In addition, we signed an agreement with an international Chinese insurance company that insures all the components of the business process: commercial risks, acquired property and profits–so, the investor is protected as much as possible since the very beginning of the investment.
And the third point is the following – there is the longest light day in this country, so we have installed solar panels that give us the required amount of electricity for landing servers. I want to emphasize that in this way MOSBY provided investors with free electricity. Thus, the cost part is minimized and this fact additionally provides such a high percentage of profit. And in general, this country is a historical centre for the production of diamonds, because the purest and most qualitative diamond in the history of mankind was found precisely in South Africa.
How many countries have already recognized crypto currency at the official level?
– So far, there are not so many such countries. At least, I can note that, first of all, bitcoin has already been legalized in Japan. In the Philippines, it is recognized as a payment instrument. Malaysia, economy of which is on the rise, and South Korea that is among the most successful economies in the world, have been preparing to legalize bitcoins. In addition, in some countries, for example, in France and India, the legal framework for the use of crypto currency is being prepared. In countries such as the United States, Germany, Canada, Belgium, Finland and the United Kingdom, crypto currency transactions are the subject of the same tax treatment as conventional financial transactions that can also be considered as an official recognition of this currency. And the fact that those countries the economic development of which has reached a high level, acknowledge bitcoins and crypto currency, indicates the attractive perceptivity of these financial services.
May the crypto currency be recognized in Ukraine? Which macroeconomic consequences can it lead to?
– Of course, in our country the recognition of the bitcoin as the official means of payment, in particular, and the development of the crypto currency market, in general, cannot develop, but without hindrance. I have already told you that the crypto currency market is a combination of financial services of a new generation and a new quality. This market is, in fact, independent from supervision and from the interference of state institutions that is unlikely to cause the delight of the domestic bureaucracy.
However, we hope that further integration of our country into European Community will have an economic dimension that will enable the gradual implementation of the crypto currency in Ukraine. With regard to the consequences that can be caused by the introduction of crypto currency, I must emphasize that all countries that recognized bitcoin as the official means of payment and allowed the existence of the crypto currency market had got the stabilization of the economic system. Why? First of all, this is due to the fact that the crypto currency turnover makes the economic system of any country more flexible and, at the same time, simpler. I hope that this will happen to the Ukrainian economy.