DACXi: Building the World’s First Crypto-investor Community
- Tim Baxter , COO at Dacxi
- 26.01.2018 12:15 pm undisclosed , Tim worked as a Chartered Accountant with global rm PriceWaterhouseCoopers (PWC) before becoming a senior executive with global logistics group DHL. He has overseen DHL’s operations in many countries across the Asia-Pacific region, including Singapore, Indonesia, Vietnam and New Zealand.
Financial IT: Tim, Dacxi will shortly be raising funds through a global initial coin offering (ICO). What is Dacxi, exactly?
Tim Baxter: The Dacxi is fundamentally a global investor community targeted at empowering and protecting retail inves- tors. We believe they will be the next big group entering the crypto-coin world and drive the next growth wave to 2020.
Financial IT: So what’s different between these investors and the people currently in cryptocoin market?
Tim Baxter: The global crypto-coin market has been developed first by the crypto- pioneers and then by Asian day traders who created the boom this year. They either were sophisticated in tech or in speculating in new currencies.
And now that they have shown the potential of the market, lots of people, literally hundreds of millions of people, would love to get involved, if only with ‘ca- sino’ money. Their challenge is having the con dence to get involved – which they only get through a clear community environment. Giving them education, analysis, information, etc. That’s the Dacxi.
Financial IT: If your community is free to join, how will you make money?
Tim Baxter: We will monetize our commu- nity through a global crypto-exchange. In fact, we are building a global network of crypto-currency exchanges. They will be able to handle dozens of crypto- currencies and crypto-tokens. Investors will be able to trade crypto-coins and crypto-tokens for fiat currencies. The central exchange within the network will be in Singapore.
Financial IT: There seem to be lots of crypto-exchanges around: what’s so special about yours?
Tim Baxter: You are right. There are many exchanges in the world. And a lot more coming. Yet none of them support this new retail investor community. Most of them are overly ‘technical’ because they are designed to support margin traders, or possibly institutions. They are not for the common man or woman. Therefore,
by providing the support they need, we are confident that the retail investors will use the exchange.
Our exchange will be a world-class ‘Allcoin’ exchange using the latest security technology provided by our technology partner who is Europe’s lead- ing provider.
Financial IT: Will the exchanges be regulated?
Tim Baxter: Absolutely. For our audience, trust is everything – so we have applied for full securities licensing in Singapore. As it happens, we only really need to be regulated for one of four types of crypto- tokens. The Monetary Authority of Sin- gapore (MAS) is a very forward thinking organisation. That regulator sees that an effective ecosystem will deliver a tidal wave of new Fintech startups. So, it is prepared to be innovative in solutions.
Further, we have the leading compli- ance legal firm overseeing how our exchange operates. Our system of inde- pendent analysis, coin checks and com- pliance is widely considered as the only
credible system that will empower the retail investor community and protect them from scams and weak coins/ICOs.
Financial IT: Why do you call them ‘cryptocoins’?
Tim Baxter: This is a classic example of the confusion that slows the speed the public will be slow to join this market. If you talk to the public, maybe 1% have any idea of ‘crypto’ until you say ‘Bitcoin’ when lots more will show some recognition.
The problem then is if you start with a reference point of Bitcoin, they think ‘crypto’ are currencies. Thus ‘crypto’ is assumed to mean ‘crypto-currency’. Yet less than 1% of crypto-coins have
a use case of ‘currency’. The other 99% are crypto-tokens. They have a value, but they aren’t money. They don’t act as a long-term store of value, a unit of account or, critically, a medium of exchange. The problem, then, is that the public think ‘tokens’ are worthless, and not worth investing in. In contrast, ‘crypto- coins’ means value.
Financial IT: Why won’t people just use Youtube to get educated?
Tim Baxter [Laughing]: Have you ever looked on Youtube on crypto? It is the perfect example of what a nightmare it is for the average person to get educated and informed. Youtube education has no structure. It’s either too technical or fo- cused on trading delivered by amateurs. The public, even bearing in mind our initial focus on relatively sophisti- cated people, whether they are young professionals or mature investors, need a complete package of support. They need much more than a few videos or a website platform. We are experts in building global communities. People need a complete package of mobile ac- cessed simple education, deep analysis, community recommendations driving by a massive program of live webinars, meetings, events and workshops.
Financial IT: And you will do this globally?
Tim Baxter: Yes, we will be in 30 languages within three months, covering over 100 countries globally. Our exchange alone will be in 10 languages within three months. The next growth wave will be global, taking crypto to every country in the world. We will then support them whether they may be – Japan, Kenya, Poland or Argentina.
Financial IT: What numbers are you expecting?
Tim Baxter: We are confident of building a 10 million-strong community by 2020. Our community could be a lot larger given our orientation towards Asia and the demand in that part of the world.
I have never met someone who didn’t want to join. We predict that global investor numbers will grow from 20-30 million today to 150-200 million in this period.
Financial IT: So what is your DAC coin?
Tim Baxter: Our DAC coin will be used to drive the community into critical mass. It is the world’s first community incen- tive coin. We have already raised enough money to launch everything, so our coin investment will be spent on marketing and community development. The coin itself will be used to motivate recruit- ment, referrals and to reward our ‘dacxi dragons’. Our ‘dragons’ are members who provide expert analysis.
The DAC coin is the store of value for our community, with 70% of exchange profits, and also a flood of value from our patented convertibility system for ICOs will eliminates investor risk. That alone is expected to add $1 billion or so to the value of the coin. It will also be the only coin in the world with a marketing organization of hundreds of thousands and a post-ICO marketing budget of millions.
Financial IT: Why do you think the Dacxi will succeed?
Tim Baxter: We are confident because the public needs an investor community and we are experts at community building. We are not tech kids with a dream of Blockchain revolution or rookies hoping to get lucky playing on a global stage. Our team is full world experts, leading compliance lawyers and top business people. And, our timing is perfect. We will be more than the ‘facebook’ of the crypto-world where the world connects around crypto-investing. As we succeed, more people will join this industry and drive the growth helping everyone.
