Read Our Exclusive Interview with Pedro Ferreira, Bestkoin’s co-founder

Jan Onoszko – CNW’s correspondent in the Americas

 

What led you and Pedro Ribeiro, who’s also BestKoin’s co-founder, to launch a cryptocurrency focused mainly on the tourism market?

It was a natural process, since the Bestkoin project was founded on the principle of being a currency which can be used as a payment method, unlike the creation of other cryptocurrencies. What I mean by this is that Bestkoin was genuinely created to be an alternative global payment method, rather than an alternative form of investment or speculation, which is the case of the vast majority of the cryptographic currencies on the market. In this sense, the tourism market was a natural choice, since it manifests all the needs for an alternative payment method, such as: the need for multiple exchanges over a wide geographical area, millions of daily transactions between clients, travel agents, tour operators, hotel chains and airlines – these factors clearly have high costs associated with them, in terms of time and money spent on commissions, fees and currency exchange variations.

What is the main difference between BestKoin and other cryptocurrencies?

As I mentioned before, Bestkoin’s mission is to truly become an alternative payment method, rather than a means of speculative investment, even though we have to acknowledge that it’s inevitable that this could happen because there will always be people who want to invest their savings and speculate on the value of Bestkoin’s assets increasing over the short term, miterm and long term.

Last week the main cryptocurrencies increased in value significantly. What do you think were the main reasons for this?

The cryptocurrency market is relatively new and as such it’s still subject to volatile behavior, which, in the vast majority of cases, is the result of ignorance and misinformation. This significant cyclical valuation is nothing more than a market correction recognizing the high valence, relevance and importance of cryptocurrencies in global financial markets. Sometimes just before these significant valuations, sudden, unjustified devaluations occur, mostly resulting from inflammatory news, speculative in nature, whose intention is to cast a blanket of doubt over the cryptocurrency market. In the overwhelming majority of cases, they are baseless claims which only gain traction because of the lack of general knowledge about this market and this matter.

Is there rivalry between cryptocurrencies and traditional banks? Even if not, how can these two systems coexist in the medium and long term?

Personally, I don’t see it that way. I don’t think there is or there needs to be any rivalry. I believe that banking is going through a very profound phase of regulatory and technological transformation and, as in other phases of its history, it will have to adapt to this new technology since, in addition to being secure, cryptocurrencies will certainly create new business opportunities for banking, as well as for the cryptocurrency market. In the future I think there will be more mutual acceptance between the two and at some level their synergies will be taken advantage of and combined.

Will BestKoin be available for sale until the 30th of this month? What are the next steps for the cryptocurrency from May?

Yes, our ICO will be completed at the end of this month and our aim is to continue promoting the currency, entering into more strategic partnerships with a view to its mass use, something which would obviously lead to its value increasing on the stock exchange. Our roots are in the tourism market so we are perfectly aware that the functionality that make it apt for this industry also generally applies to all other industries.

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