We discussed with Vladislav Kuznetsov, CEO of Streamity, the development of decentralized payment systems.


CoinFox: Could you tell in more details what are the advantages of the StreamDesk application as compared to other decentralised platforms? You write that its uniqueness is in the use of smart contracts. Why did you decide to use this method of conducting transactions? And why do you think nobody else chose such a solution? 

Kuznetsov: The StreamDesk service is unique because it integrates the API of payment systems and the smart contract architecture of several different blockchains; nobody has ever done this. First and foremost, such a method guarantees safety. There is a number of similar solutions on the market but there is an emphasis on the creation of centralised services and cryptobanks. We believe that centralised services will always be unsafe, and cryptobanks directly depend on regulation, they cannot really exist before measures are taken to regulate them, they try to find various loopholes in the legislation, they charge very high fees for crypto-to-fiat exchange. Decentralised services are ones that are being developed now and they undoubtedly have all the chances to stay leaders tomorrow.

CF: Will the smart contract based trade be fast? How much time will one transaction take? On what does it depend?

Kuznetsov: Тhe trade based on smart contract use is quite fast but the transaction speed will directly depend on the service users.

CF: The main task of StreamDesk is the exchange of cryptocurrency for fiat money. You tell that a cooperation with Yandex.Money, Qiwi, and other services is possible. At the same time, right now you only speak about the US Dollar and the Euro. Do you have any plans to include Russian Rubles?

Kuznetsov: Our service already supports Rubles and many other major fiat currencies.

CF: Let us now discuss the exchange rates. You plan to calculate the cryptocurrency price in real time, based on weighted average rates of leading exchanges. Will your rate match the one at Coinmarketcap or will it be calculated in a different way?

Kuznetsov: At present, we use the rate provided by the Coinmarketcap website but in the future we don’t want to depend on anybody; we will make a similar service but we will only use rates of a number of selected exchanges. We will tell more about this later.

CF: You plan to get no less than 200,000 registered users. Those who participate in a transaction are quite likely to have conflicts; it is hard to imagine trade without any frictions. How do you plan to solve such conflicts? Or will the platform make any conflicts impossible because of its decentralisation?

Kuznetsov: In the future we plan to make any conflict situations on the server absolutely impossible. When launching our service, we will solve conflict situations manually, through the technical support department of the company. 

CF: Your business is registered in Singapore. Why did you choose this jurisdiction and what are its advantages?

Kuznetsov: The main advantages of this jurisdiction are tax exemptions and discounts for young IT companies over the first three years.

CF: Speaking of monetisation of your service, how do you plan to get revenues if your commission fees are so low 

Kuznetsov: Our goal is to attract a large number of users to our platform. The optimistic scenario of our finance plan is based on the assumption that we would attract one million users to our platform by 2019. If this scenario works, our revenues will be good enough.

CF: Рlease tell us more about the side services of the portal. For instance, you plan to launch education courses and webinars of the Streamity company as well as partnership courses. Who do you plan to cooperate with and what are you going to teach?

Kuznetsov: We are already conducting three or four webinars weekly in English and Russian on cryptocurrencies and crypto trading. Besides, we hold regular briefings, give recommendations and tell latest news. Right now, everything is for free. Join our YouTube channel!