Stobox CEO Report November 2020

Digital Securities

DS Dashboard is a White Label SaaS Solution for businesses that seek to tokenize corporate securities in a legally compliant manner.

Stobox Security Token Offering

Challenges

  1. First of all, many clients have a different vision, or sometimes even no vision, of what a security token offering is, and therefore, the education and standardization processes of the digital securities offerings are some of the main challenges.
  2. We do not work in a market that is fully aware of the STO peculiarities, so to deal with such market incompetence, we share information to let people know about the processes of STOs and how they are compliant.
  3. Another challenge for the Dashboard is a technical challenge because we are combining both traditional Web and Web3 technologies. Basically, those are centralized and decentralized technologies in one unique product with the aim to deliver the benefits and key features of both. Thus, we have to comply with the existing privacy requirements such as GDPR to be able to store users’ information since most countries have limitations on how and where the data can be stored. So on the one hand, we use advanced decentralized technologies to comply with the financial regulation standards, and on the other hand, we utilize Ethereum blockchain and make sure that our registry is easily accessible and the dashboard is a unique mixture and the melting point of those two technologies.

Stobox Crypto Exchange

  1. AML Compliant from Day 1
    The exchange will not be regulated at this point as a venue but we will enforce all the AML, compliance, and other rules to ensure that all operations on the exchange are transparent and that we do not deal with any shady customers. Therefore, once a user exceeds the limit of one thousand USD in their transfers on the exchange, we oblige them to undergo the KYC process to make sure that our clients are not associated with any prohibited and illegal activities. The key priority for us is to ensure that the exchange is transparent, compliant with international AML regulations, and that it cooperates exclusively with the whitelisted clients.
  2. User rankings, referrals, and personalized scores
    The exchange is utilizing different business models based on commissions and referrals. Most of our competitors offer just a simple referral program, however, we would like to go beyond that and allow our users with certain ranks to generate passive income by inviting other people to crypto trading.
  3. NFTs
    The NFTs market is a very niche and special market that is actively growing now. We believe that NFTs are a good method of engaging and promoting clients and it will let Stobox Crypto Exchange be distinguished.
  4. Technology and implementation
    Our innovative technology is being built from scratch by the internal tech team and external advisors. We are aware of cases of users’ money being stolen on other exchanges and in order to eliminate the chance of this happening on our exchange, we do everything possible to ensure the security and reliability of our product, however hard and time-consuming it may be.

Challenges

Conclusion

For that reason, we plan to deploy the functionality step by step, beginning with the registration and the KYC process on the exchange which will start in December this year. It will allow us to onboard people, assign them with ranks, and spread the word about Stobox by using referral links. The actual trading operations, spot, and marginal trading will be launched as soon as we reach 10,000 registered users, but not earlier than January 15th, 2021.

Consulting Services

Digital Assets Investment Conference

Stobox Global Challenges

  1. Regulatory frameworks
    Our company conducts various activities in multiple innovative jurisdictions with different peculiarities, and being compliant with each of them is quite challenging. For that reason, the current Stobox structure comprises several companies established to divide the general processes.
  2. New Team Members
    The company and its operations are growing exponentially. Upon our start, our main focus was on digital securities and market analysis for the STOs. But last year showed us that the market has so much potential and so much innovation that we could not leave those opportunities behind. Therefore, today our new challenge is to bring more international people onboard.

    Our goal is to engage people who are professionals in their fields. In 2021, we expect to do a big jump in such operations as sales, business development, and partnerships throughout the globe, so an international team is vital to make it possible.

    As a modern international company, we look into all types of diversity; we are open to onboard professionals with various backgrounds and we believe it will become our key advantage of the future.
  3. Marketing
    Marketing of our services is another important challenge. It comes with the adoption which is rising step by step and we do various activities like education to speed it up. But the marketing of our products is something that is unique and non-obvious since the market is new and rather shallow. Finding the best marketing opportunities and tools is quite a challenge because selling new business models like STOs is completely different from just selling regular technology products.

    Marketing in our case is different from the regular procedures done to promote a software product, it goes beyond it, since we need to build a certain market reputation, trust, and to enable processes that would allow companies to approach their goals with STO. Unfortunately, by far there is no precise model of how we can promote those services, so time and effort are required to work it out.

Conclusion

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store