After two decades of political and economic turmoil.
The post-Soviet countries have turned into a dynamic and promising blockchain and cryptocurrency market, which is actively developing thanks to the efforts of local enthusiasts, whose rating was presented by the Hackernoon publication.
Low taxes, affordable labor, soft government regulation and cheap electricity contributed to the creation of an ideal environment for the blockchain business in the CIS. Ten entrepreneurs make a special contribution to the formation of a new digital currency-friendly image of the region.
Nikolay Udyansky is a Ukrainian entrepreneur who founded the largest crypto exchange Coinsbit.io in Europe.
Coinsbit also entered the list of 10 largest Asian blockchain companies, which was the first to create a global network of 200,000 POS-terminals around the world.
Udyansky also helped launch five of the top 50 cryptocurrency exchanges. However, the entrepreneur’s ambitions go far beyond the limits of cryptocurrency platforms. Udyansky initiated several promising projects, such as the world’s first insurance company ASSUR, specializing in crypto exchanges, the first investment blockchain fund in Ukraine and a residential complex for IT developers in the suburbs of Kharkov.
Today, the financial market is influenced by advanced technologies, as a result of which in many countries of the world there is a significant increase in the popularity of cryptocurrency – a decentralized digital payment medium, to which the government is very wary. Most regulators see digital money as competitors to fiat currencies. Especially if the cryptocurrency becomes fully insured against financial risks.
Digital currency is considered one of the most profitable types of investments, and new participants become users of digital money and exchanges daily. However, in the conditions of volatility and openness of modern financial markets, it is impossible to fully protect your crypto assets.
Cryptocurrency exchanges are subject to hacker attacks. Even market leaders who use advanced technology to protect their digital assets become victims of hackers and lose huge sums. Among them – Bitfinex, Gatecoin, ShapeShift – none of them turned to financial risk insurance. The result is tremendous loss and irreparable damage to reputation.
“Cryptocurrency, along with other means of payment, can pay for the purchase of goods and services, it allows traders to earn on cryptocurrency exchanges. However, digital money is functioning on blockchain technology, which means decentralized storage of payment data. Anonymous settlements are attractive for those who have investment capital, and for those who want to protect themselves from losses, ”says Nikolai Udyansky, founder of ASSUR insurance company, a specialist in blockchain technology.
“In order to cover losses from cyber attacks, it is enough to send 3% of assets to the insurance fund annually,” Udyansky reports. “We are creating similar insurance funds within each crypto exchange that becomes our client. Thus, a single insurance fund is being formed, due to which payments are made to the affected cryptocurrency owners. ”
The company provides insurance against exchange rate changes and even against risks associated with the possibility of exchanging cryptocurrencies.
Against the backdrop of a global collapse in oil prices and a slight increase in the price of gold, Bitcoin is showing steady growth. This was noticed by the CEO of the Bitcoin 2.0 fork (BTCU) Nikolai Udyansky.
You can follow Mykola in IG : @ud30