As part of our continuing efforts to encourage crypto education and foster dialogue in the crypto space, we are pleased to share the recent discussion we had with Danish Chaudry, Managing Director at Bitcoin.com, with our community. Danish has an extensive background in both traditional and digital finance and is now part of the team over at Bitcoin.com, which just introduced their exciting new exchange platform. In an exclusive chat with Freewallet’s Solomon Brown Danish touched upon some of the most pressing issues facing this industry — from the impact of COVID-19 to the Bitcoin halving. Enjoy!
Hello Danish! First of all, thank you from the Freewallet community for finding the time to answer some questions. You’re listed on LinkedIn as an experienced mentor with a demonstrated history of working in the financial services industry. What were the main reasons behind your decision to join the Bitcoin.com team in July 2019?
I had been involved in the blockchain/crypto space for quite a while. Having been in the Financial Services sector, I was exposed to crypto and its underlying tech from the initial mt gox, silkroad days. I got the entrepreneurial bug and left Blackrock to create my own payment startup, which got acquired shortly after. After forming another startup and and joining a VC firm here in London, I realised I had always been active in the crypto/blockchain industry so I figured I should immerse myself in it fully.
I was running a project which was around from way before the ICO days and through that got to know some of the bitcoin.com team. I have always respected and admired Roger and what Bitcoin.com team stands for, so when they came knocking, asking if I wanted to help run a brand new exchange they were launching, I jumped at the opportunity without a second thought.
Recently Bitcoin.com launched an exchange in addition to its existing wallet and mining pool. What’s the plan for further development?
At Bitcoin.com we’re always innovating and introducing products that help users and industry spend and accept bitcoin, and truly follow through with making Bitcoin what it was meant to be - Peer to Peer electronic cash.
As Bitcoin.com’s Managing Director, what are your primary goals for 2020?
Increase our product offering on the exchange and enter the US market.
Bitcoin.com is a global team of talent based in the US, Colombia, Ireland, the UK, South Africa, India, China and many other countries. You speak 5 languages — Arabic, Hindi, Punjabi, Spanish, and Urdu. Is studying languages your hobby or your way of deeply understanding partners and clients?
I actually happened to grow up in a multilingual household and have lived on three continents, hence I happen to speak quite a few languages (apart from the fact that they’re closely related haha). But being multilingual definitely helps in understanding certain segments of our customer base and interacting with our partners better. Having a cultural understanding of different regions shows respect and helps us cater to our customers and form deep long lasting partnerships that are mutually beneficial.
Which country/city can you see becoming the capital of crypto in the future?
Good question. And a hard one to predict. There is so much work being done, especially from a regulatory standpoint, to accept crypto and blockchain as a legitimate industry and offer it to the wider public. I believe a jurisdiction that can help regulate while at the same time promote innovation will be the next crypto capital.
How will the cryptocurrency market look after the COVID-19 pandemic?
Oh boy! How will the entire world look eh? I think the market will be stronger than ever as it’s already proven to be quite resilient - with quite a bit of a bounce back from the March dip. Of course much is yet to be seen but I believe we’ll come out stronger.
What’s your opinion on how much time it will take Bitcoin to get back to the price of February 2020?
I think we briefly see those levels right at halving, and then, after a dip, a steady increase towards year end.
And, last question, do you have any words of wisdom or wishes to share with our community?
In light of recent market moves I believe some people might be a little disheartened. However I’d just like to assure those that are still around that crypto is here to stay. It’s a nascent industry and it’s going to grow pretty fast. I would still encourage people to buy small amounts of bitcoin and bitcoin cash on a monthly basis.