eToroX Managing Director Talks ABout the Importance of Speed to Strive within the Crypto Space
The managing director of the eToroX, Doron Rosenblum strongly believes that moving quickly is very important if you are to survive within the crypto space more than the traditional financial system. In an interview he had with CryptoGlobe, he noted that Yoni Assia, the CEO, and founder of eToroX has been supporting the crypto space for a very long time.
And from it, he has seen that coins like Bitcoin will be able to change the future of the financial sector.
The Reasons The Company Was Created
There are two main reasons as to why the company was created; it is internal organizational and the regulations in place. The company is established as a heavily regulated platform, but when looking at the crypto space and the blockchain technology, it seems some regulators are still trying to figure themselves out, this is according to Rosenblum.
Thus, they ensure to have the platform regulated in Gibraltar.
Gibraltar has been considered to be a tiny territory that seems to be promising; it is because it has adopted a forward-thinking approach when looking at the DLT, Distributed Ledger Technology, and the crypto coins.
As per the statement made by Rosenblum, the main reasons behind the launch of the eToroX for crypto and blockchain is the concept around speed. With the current structure that they have implemented, it will allow them to move as fast as they would want to, and as he had mentioned, in order to survive within the crypto space, you will need to be fast.
“We decided we need to have a small team that will move fast and that will be self-sufficient. The big departments of eToro – marketing, finance- regulation, etc. – are part of a big company. To move as fast as this market demands, we need a fast-moving team. We’re 70 people [on eToroX].”
The Concept Of Tokenization Is Slowly Growing
According to Rosenblum, he firmly believes that tokenization is slowly growing and in the near future, it will be a very big concept. The reason being, tokenization has been designed in a manner it can be applied to any asset you can find in the globe. An example is the expensive art pieces; he believes with tokenization people will be able to own any piece thanks to the concept.
”Basically, you can take everything, as long as there's an agreement with the owners, and there are ways to hedge or peg the token to the value of the underlying asset [and tokenize it]. You can do great things with this, and gives access to people who would otherwise not have access.”
As a result, the company is working tirelessly to add more tokens on its platform, to ensure they are ready when all assets are made accessible to trade across the globe. And with the right tools and skills that they have invested in, it is a challenge the company will be able to accomplish.