DaTaRius - Hot interview with the platform creators

DaTaRius project team interview:

1. Let’s pretend that I have entered cryptocurrency market recently, and I am not familiar with economical model of your business. How would you explain the concept of your business in simple terms?

We invite our users to become participants of the social p2p cryptobank. The p2p model is no longer innovative in fintech, however, the socialization of a financial company, and especially in the cryptocurrency segment, is a unique and completely new approach. Our chief target is to demonstrate that fintech can be completely different.

We decided not to impose any services at all upon the users. We will propose three listings with different trust levels – from the borrowers minimally verified by the system algorithms and to the completely transparent borrowers, thoroughly reviewed by the project’s Risk Department. Any interested user, at any time, can personally order one or another related service – in-depth computer evaluation, evaluation by project partners, evaluation by the Risk Department, evaluation by user-managers and so on. The results will be immediately available to all other users. Accordingly, one or another application can automatically shift from one listing to another in keeping with the wishes of the project participants, and not merely as preferred by the submitting user. Thus, Datarius provides its users with complete freedom of choice both in terms of actions and cost. Of course, we will charge a very symbolic fee if users haven’t used the services of our project. Moreover, this will allow partner projects, including blockchain, as well as simple professional users or trained users, to independently determine the cost of their services and to earn with the project, acting both as a project participant and as a consumer of its services. This model offers great opportunities to all market participants.

I wouldn’t be afraid to repeat once again – we’re all very tired of the gluttonous greedy and covetous bankers. Therefore, we set the full freedom of choice and lack of imposing services as a top priority, acting only as a mentor and guide. We want to show that fintech can be completely different – transparent, accessible, socially oriented, simple and at the same time it can meet all market demands.

2. What’s your competitive advantage? I can name at least 5 other blockchain-bank projects that have large team, existing customers and some of them even have operational traditional banks. Why would average investor invest in your project, instead of investing in the bank with existing customers?

First of all, I would like to emphasize that we do not call this “investing in the project”. In view of the challenges, we would like to create the core of the community and project participants even before the launch of the project. We believe that the people who already support us will become the most active users and will make the first thousand of participants, thereby, creating a fully active system when entering the market. We have very ambitious targets for the expansion of the fintech market. We believe that our model responses well to this challenge due to its competitive advantages:

• We’re the only ones who declare the socialization of the fintech.
• We’re the only ones who declare full freedom of action and formation of service fee by users.
• We’re the only ones who declare and have the expertise and opportunities to open training centers to impart financial literacy and to train to operate directly on the credit market.
• We’re the only ones who declare and have the expertise in implementing instant money transfer systems such as Western Union, Moneygram, Transferwise.
• We’re the only ones who are ready and have the expertise in forming special packages for the small and medium-sized businesses. A part of our team and advisors has more than 10 years of successful work in the traditional banking sector.
• The Datarius team has also a practical experience in duplicating the virtual accounts by traditional ones. We have some developments in this field and are in preliminary negotiations with major banking groups.
• We are also ready to learn successful experience in card products including virtual credit cards. We know which combinations and in what format will be most interesting to the user.

Datarius is the first project to declare the whole fintech market in a single window.

3. Could you tell us more in details about your P2P model?

As has been said before, our model assumes 3 listings for the borrowers’ and creditors’ orders. The orders are initially split into the listings according to the type of user account (the authentication level, the availability of additional information to be processed by computer algorithms, the availability of behavioral patterns, the availability in the databases of partner projects, etc.), as well as in accordance with the wishes of the initiators. Each user who submits an order is asked to personally determine the listing according to the additional analytical and verifying services they choose. Other project users can pay for verification or evaluation of the orders at their own discretion, thereby lifting the order to the listing of the higher trust level. We also provide automatic package closing of offsetting orders (at the user’s request), as well as the assist at the closing to expedite the interaction. This means that if a number of offsetting orders meets the user’s requirements, such orders will be closed automatically, and if there are orders in the system that do not meet any criteria, they will be shown to the initiator and automatically recommended for acceptance.

The whole system is aimed at making the interaction between users possible without involving the team core. Datarius reserves only the power to ensure the operation of the platform and to provide a wide range of related services. Thus, we plan to completely cancel out the shortcomings of traditional systems – lobbyism and the promotion of toxic bonds.

4. Under what jurisdiction will your bank operate? What is the physical location of your team?

We chose Costa Rica to launch the project. The choice was made before we met our corporate lawyer. It was based on many years of the successful work of our colleagues in this jurisdiction, and with regard to the most loyal conditions for obtaining primary licenses. We decided to enter the market under a DPL license, which legally fully covers the regulatory requirements to the planned first stage of development (SoftCap). Subsequently, we met our corporate lawyer, who happened to be a Blockchain Evangelist and one of the participants of the Round Table on the regulation and implementation of cryptosystems in the Costa Rican economy. Going further, in case of a successful start, we plan to immediately restructure the project to fully comply with European standards and obtain appropriate permits.

We have a very international team. Physically, we are scattered across the globe – from Malaysia to Costa Rica. So far, the project’s focal point is located in Kiev and after a successful pre-ITO, we plan to little by little move to Prague.

5. Tell us more about your team. Why do you think it’s enough competent?

Information about the project team is fully open and can be found in our draft of White Paper. I can only add that every member of the team is an expert in his/her field. The entire Datarius core has no less than 10 years of continuous work experience within its field of competence. The core management team has experience in banking and financial spheres, including work with non-performing loans, experience in large international companies. The technical arm of the project is ultra-class professionals, enthused about their work and pioneers in the field of decentralized technologies. We also have a strong support in legal issues.

We have no doubt in the competence of each key player of the project. Today we are actively recruiting and training the support staff.

6. Since a lot of your partners are from Ukraine, just like your team members, it increases your financial risks related to political, economical and social situation in Ukraine. You probably don’t know but I was a political consultant in Ukraine and I am familiar with corruption, economical and political problems, which are getting only worse. Don’t you think that it’s not the best investment environment? 

As already mentioned, we have a very international team. We are not the Ukrainian project and are not legally bound by the Ukrainian law. On the other hand, experts who have grown up and improved their endurance under tough conditions of a constant change of rules, fierce competition and lobbyism – are tempered and ready to accept the most uncommon challenges. These are sharks ready to respond quickly to challenges and solve any problems.

7. Do you have any licenses and necessary legal papers that will confirm your legal status as bank?

If you carefully read our White Paper, you can see that the development of the project depends on the indicators achieved during the ITO-campaign. The first stage is completely covered by the DPL license. So far, we have already submitted for the license (even before the end of the Pre-Sale). Our company was initially registered and structured to fully meet the requirements of Costa Rican legislation. Our paid-up capital is 510300 USD. At this stage, we are awaiting for licensing of the payment system, the asset management company and the investment company. Thus, we will be able to fully legalize the launch of the basic version of the product. If the main round proves to be successful, we will work in accordance with the original plan – we’ll bring the main product to the market, restructure and legalize the activity in order to meet the requirements of the achieved stage of our Roadmap.

8. Max supply of your bank is 200.000.000. Other projects with the same or similar supply started with 0.10 – 0.30 cents per token. Don’t you think that $1 per token is overpriced?

This question is mostly a matter of interest to speculators and it's not a secret. Everyone knows that the tokens initial value of $ 0.1 grows more rapidly than initial value of $ 10. This is a psychological aspect rather than economic. We are not creating another “pump and run” shell company. We have quite serious, ambitious and long-term development plans. We choose a middle way.

9. Per your business model, the purchased tokens entitle active holders to receive 65% of the fees and charges collected by the Datarius cryptobank. Could you please show us an example with specific numbers? Let’s pretend that I invested $1000 in your tokens, what returns should I expect?

We should stress the word Active. And we have no right to assume, or even more, to guarantee any profit at this stage under the international law. We understand that most of the projects defy a law and draw beautiful tables with the fine print underneath as part of the marketing strategy. We decided to take a more restrained and legally sound position. The only thing we could note is that, according to our forecasts, the monthly project’s turnover should reach $ 1M during the first year of its operation followed by the explosive growth and reaching $ 50M by the third year of the operation. The Datarius minimum fee will be 0.2%. The active users, directly contributing to the formation of products and services of the project (including information products such as ratings / social scoring, etc.), receive an annual return of 65% of all fees received by Datarius in proportion to the number of tokens at the time of distribution. We believe that any contributor willing to participate in the project will easily make the necessary calculations.

10. Your project will include different Portfolio Investments and Investment Packages. Are you going to make investments only in blockchain projects?

Certainly not. We are already negotiating with development companies, retailers, car dealers and manufacturers, as well as with state-owned companies. The project will be well balanced and the user will be provided with the widest range of financial instruments available on the market. Moreover, no matter what level of contributorship we achieve upon Softcap, we will introduce instruments outlined in “higher” cases sooner or later, anyway. It'll just take a little bit more time. We believe in what we are doing and we are confident that the format of the fintech we propose is the format of the future.

11. Your coin is going to be considered a security per Howey Test. Therefore you might face troubles with SEC regulations and you wouldn’t be able to get listed on the largest exchanges like Bittrex. How are you going to solve this problem?

Our lawyers think otherwise. The main thing is that we do not promise and do not guarantee either the “to the moon” or the guaranteed profit to our contributors. We will reward only a fair share of contribution and participation in the project – the creation of financial products and services, the creation of social scoring, the creation of information products and so on. Secondly, we do not sell tokens – during the whole ITO campaign, users pay for authorization and get the keys to the bank of the future as a bonus and absolutely for free. Moreover, Datarius will come totally out the orange zone once we have finalized the prototype. Our pool of lawyers is ready to uphold our position.

12. Are you going to increase your advisory and partnership network to make it more international? Have you started any negotiations? 

Certainly. We are actively involved in the negotiation process. As we have already mentioned, we commenced negotiations with future partners both in terms of creating future financial services – investment, development and retail companies, and in terms of related services – insurance, analytical, rating companies, asset management companies and etc. As for the technical aspects, we are negotiating with a number of companies dealing with the users’ authentication, storage and protection of data.

As for advisers, we are well aware of the marketing aspects, but at the same time we try to make the best use of our own and user resources. Therefore, choosing between a really effective and useful project adviser and buying a personality for the site, we will choose the first at this stage. Datarius is currently negotiating the advisorship by people associated with fintech and banking. Moreover, we are negotiating not just about on paper or in ratings advising, but with actual experienced people who really can be useful to the project. Those, who can be the mentors for us and for the Datarius. We would be glad to consider any interesting proposals. We are fully open to cooperation and collaboration. As professionals, we are committed to constantly learning and developing. We believe that we can create a truly unique and marketable product and we will appreciate any support.

Questions were asked by Vladyslav Antonov – Angel Investor, independent ICO analyst and blockchain economics enthusiast. 

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