Interview with Tobias Graf CEO of Bitdepositary
Project Name: Stop Scams with Bitdepositary
Interviewee Full Name: Tobias Graf CEO & Founder of Bitdepositary
Q1: Tell us a little about yourself, how did you get into this business?
My name is Tobias Graf and I am the CEO and founder of Bitdepositary. I am originally from the Munich region of German, which is the reason for my Bavarian English 🙂 In 2010, I started my own insurance brokerage business. Over the next five years, I secured 15,000 new clients for a major health insurance organization in Germany. I ended up learning a lot about myself and about business in the process. By 2016—just one year later—I had obtained a total of 25,000 clients. In the meantime, I also started on my salesforce development journey. I am also the CEP of multiple other companies, including a finance broker business, a marketing firm, and a holding company. Thus, I have a wide-range of interests in the financial industry.
To answer your second question, my experiences in the financial and technical domains led me to the decision to enter the crypto world. Over the years, I provided a lot of financial investments to my clients. I found that in the fiat world, the potential for profit is limited. I had to reevaluate what I thought I understood about finance. As soon as I started researching the crypto world, I learned right away that if you make smart decisions and invest in quality projects you can get a lot on your return— sometimes as much as a 10,000% return. This is simply no possible when it comes to fiat currency. This really opened my eyes to the possibilities the crypto market had to offer.
Unfortunately, I quickly realized that despite the high potential of profit in the crypto world, scammers were a major problem. I came across many scammers early on and this was disheartening. I discovered as many 80% of blockchain projects were scams. To me, this was unacceptable and felt the need to do something about it. I asked myself, “how can we eliminate scams with a digital process and help entrepreneurs reap the real profits of the crypto world without having to worry about scams?” This was the beginning of Bitdepositary.
Q2: What was the original idea behind the project?
The original Idea was and is to STOP SCAMS and create a safer space for people to invest in and profit from blockchain projects.
Q3. What makes this project innovative and special? How it will affect the average user?
What is TeamBit?: TeamBit is a feature you will find in the Bitdepositary space. This pseudo-organization consists of a team of experts, community leaders, accountants, and legal advisors. Together they serve the Bitdepositary investor community and look out for its best interest. They act as counsel. TeamBit offers the community more protection against scams and other fraudulent activity, token theft, and bad investment decisions. TeamBit serves the ultimate goal of creating a marketplace that encourages and helps facilitate profitable and sustainable ICO projects.
In the morning, you meet someone who claims to be a stock broker, but they are not a verified stock broker. In the evening, you meet another stock broker who has been measured by 10,000 people and voted the best stock broker. Which one would you give your money to?
The broker voted the best stock broker, right? Bitdepositary resembles the second stock broker. Every project/investment that goes through bitdepositary is reviewed and voted on. Not everyone has the same influence because the voting power is judged on the basis on their activities and successes. This allows us to more accurately weed out scams.
Q4. There is a precipitation that most ICOs are going to fail in the long term. What is your opinion about this?
The problem with a lot of past projects is that they either received a lot of money that didn’t make sense or were made up of team that was not well-known and had dubious intentions. That is exactly what Bitdepositary sets out to avoid. While we can’t guarantee we can eliminate all scams, but we would say that 90% of projects are scam-free with Bitdepositary, and this will improve with time.
Q5. Would this project be still possible without the use of the blockchain technology and why?
No, this project would not be possible without blockchain technology. We build a payment provider based on the blockchain network that automatically passes on payments and projects. Moreover, our whole voting process is based on ERC720, which publicly accessible via the Ethereum network.
While blockchain is not useful in all areas, blockchain is a blessing when it comes to anything finance related or for processes that are always the same.
Q6. If you could fully cooperate with another ICO project, which one would it be and why?
I cannot say for sure what I would choose. I cannot think of a project right now that would be a good choice to cooperate with Bitdepositary. I would say that Bitdepositary builds a service that can be found in part in several companies, including the currency exchange, Binance, the payment provider, Revolut, and the rating resource, ICO Bench. We feel as if we improve on these concepts and help build a more unified financial world for our users.
Q7. Right now, are you exploiting the full potential of your token’s utility?
You can use the token for additional processes and activities, but we focus on the most important uses of our token, which include investments in projects and the voting process. I believe that if a token accomplishes its main objectives, nothing can stand in its way of the profit for the buyers.
Q8. What will be the benefits for long-term token holders?
The main benefit is that they have access to investments in new projects that often bring 25% more profit and return of project tokens. We are already 80% finished with our concept, the value of the token will move in the right direction to provide investors with added value.
Q9. How do you plan to fight against phishing and scamming attempts concerning your token?
We build our technical infrastructure on the following three building blocks. One is Salesforce, which is our customer database (CRM). It is a company with a market value of over $66 billion. Salesforce protects us and our customers. Second, we use a wallet that has a server with a private space from Heroku. It is also a part from Salesforce and offers no attack options because the interfaces are directly connected. These solutions help us protect both us and our users.
Q10. Tell us about your future plans. What to expect from the project?
We plan to go live with our platform at the end of the ICO and we will process our first projects right away. By the end of next year, we will also come out with an additional wallet for fiat conditions. This wallet is a little more complicated so it will take a little longer to set up. The prototype for our multi wallet with integrated exchange will come out in the next few weeks and will be ready in October.
Q11. Finally, what is the message you want to communicate to the world and your supporters?
If you compare projects that were successful to the ones that were scams, you will see all of the opportunities Bitdepositary offers. That’s why you should be a part of Bitdepositary!