INTERVIEWERS: Thank you very much for joining us. We are here in Amsterdam and the first topic to be discussed is about the digital economy. Blockchain is the term that is heard everywhere. How do you feel about how the media is dealing with all of Blockchain and crypto now?
James parker: It's interesting because the mainstream media are trying to catch up in this area. Most journalists, even in the technology sector, don't necessarily have to rush because the Blockchain and cryptocurrency industries have only become a big problem last year. Previously, it was only considered an interesting technology, but people did not pay much attention to it now.
So the mainstream media is playing the chasing style and you can see many simple mistakes from mixing the difference between tokens and money types. Very sophisticated. I think, we will achieve it up to that point but it will definitely be interesting.
INTERVIEWER: What do you think about the application and influence of blockchain in e-finance?
JAMES PARKER: Taking advantage of Blockchain-based technology in the financial world is very promising. Blockchain's ability to process information faster by eliminating intermediate units can help reduce costs while speeding up. This capacity is not only applied in currency transfer, stock trading, payment, agreement and many other activities within the core business scope of financial institutions ... A ledger based on Blockchain platforms not only reduce the cost of the transfer value but also increase the processing speed significantly by eliminating the intermediate channels that information needs to pass to verify transactions.
INTERVIEWER: As far as I know, for banks, Blockchain technology improves transaction speed and eliminates the layers of transparency verification on transactions. Can you explain more about how the blockchain does this?
JAMES PARKER: Normally, banks deal with internal ledger transactions, this operation can be completed in different processing times for each bank. This often results in a money transfer activity that has left the bank's ledger but many days later have not yet appeared among those of the other bank. In developing countries where manual processing may be longer, it may be longer and error-prone. Replacing this process with Blockchain will allow banks to process a transaction on the general ledger almost immediately and every member of the network can see the transaction.
INTERVIEWER: You also works in Up ECommerce, so how do you rate this product? What really attracted his attention?
JAMES PARKER: Google and Amazon are clear examples of such platforms, they have an integrated business model of market participants and facilitate transactions. With UpECommerce, you can promote and sell products online to customers around the world without having to worry about logistics, marketing and customer care. Such a platform, if possible, is of course great news for buyers and sellers. Although born late in life compared to many other e-commerce platforms, it has operated quite strongly thanks to an interesting business strategy, consumers will be sellers, and reverse sellers will also are consumers.
INTERVIEWERS: What about other highlights of UpCommerce? What made people pay the most attention? What influences and inspires you for developing this platform?
JAMES PARKER: In any market, all participants must be connected. Today this is achieved through a central model. To put it more simply, if Google and Amazon are e-sales sites where businesses or shops can sell to users with difficult procedures, then UpECommerce is simply an intermediate place to connect between sellers. with buyers. Your job is to post pictures, and negotiate directly with customers without any formalities. So although it was newly established, it has grown and has a large market share in the battle of online trading.
INTERVIEWERS: Can you tell us more about the ecosystem and future potential of UpCommerce?
JAMES PARKER: UpCommerce is located in the UpExchange ecosystem, which is a platform that inherits from the success of Uptraders and Expertfund. Our estimates for 2020, UpExchange will have more than 100,000 users, transactions of more than $ 400 million in digital money and are available in 20 countries. I think perhaps that will happen in the real economy, as well as in the crypto world. . I think perhaps that will happen in the real economy, as well as in the crypto world. In fact, with these market management rules, you will actually get a lot more innovation and so the cycle will continue.
INTERVIEWERS: What about public attitudes towards Crypto and Blockchain? How does it grow during the time for technology-related media and what do you think will come in 2019?
JAMES PARKER: I think 2018 witnessed crypto becoming a mainstream discussion. When a taxi driver talks to you about Bitcoin - that's when you know it's quite popular, so it's a big boom. But it's not too great for many reasons, it's like a soap bubble. It is a very fragile market like soap bubbles at this time. But I think the fundamental technology foundation of Blockchain technology is not going away. It is here to and will be like that. It's like an Internet-based authentication platform that the Internet always needs and from here the sky is the limit.
INTERVIEWERS: What about Amsterdam and the crypto money community? Is there any difference in the different events you attended? Do you think there is a difference in the level of discussion or views on Blockchain and crypto?
JAMES PARKER: I think people are inflating the truth. Remember that most Amsterdam attendees are actually in the financial community and property management. That means that even though they are currently being led naturally to understand the concepts around crypto money assets. But technically, they are often slower, so you see people eating dinner and discussing Blockchain but they don't really know what they're talking about. I must say it is really interesting to see that. Like some of the events I attended were the same but it was also very interesting and worthwhile. But someone told me this, "Why are we talking about cryptocurrency in Amsterdam while we should make our own version of Amsterdam for the crypto money community?" will happen.
INTERVIEWERS: Great! Yes, have a good time in Amsterdam and thank you very much.
JAMES PARKER: Very pleased. Thank you!
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