A Review of Quoine Project & Products

Quoine is a Fintech company that is based in Tokyo, Japan. This is a company based on blockchain technology and their philosophy is that everyone should be able to access financial services. In the world today, there are some financial services that are just for the rich and elite members in the society. Quoine believes that blockchain technology and cryptocurrency is defining the future and how things will run. One of the platforms they have is “Liquid by Quoine”. They also have a token called the QASH token.

Their Philosophy

They believe in living in a world where everyone on the globe can access high-quality financial services regardless of where they come from or their net worth. They believe that cryptocurrency can make this possible for them. They believe that people have the power to make this happen and the future of the financial landscape is in different people from different parts of the world.

Products

In order to understand Quoine better, let’s look at their two products

Liquid by Quoine

This is a platform that will have great security and will offer liquidity to people it ensures that people can easily transact digital assets using different cryptocurrencies and even fiat currencies. The liquidity aspect will be very important to people because from time to time, people need their funds for buying, selling and even transferring of ownership. All this will be possible on this platform. This is a trading platform for digital options and their goal is to get global adoption. They have also made a difference because there are very few laws governing crypto exchanges and they have found a way to create an ethical/ legal exchange for people.

Liquidity is one of the problems in the crypto markets especially when the demand for a certain asset spike. Some exchanges suspend or stop the trading until they can get more deposits. However, people do not like to go to an exchange when the demand is high and find the option to withdraw or trade very difficult. It is actually somewhat frustrating and annoying. However, the best thing about the liquid platform is that when this happens, they borrow funds from other exchanges and people will always have assets to trade with. This is possible if there is a network that brings together the main exchanges.

Fiat management is also another issue because moving fiat is low, time-consuming, expensive and sometimes unsafe. However, with crypto assets, this problem is alleviated. In their initial phases, they have had good relationships with banks. This has been in a bid to find how exchanges and banks can work together.

There is another option which is to have third-party providers who can ensure liquidity but the problem of moving fiat arises again. However, it is not impossible and with a bank like Prime Brokerage, this can be made possible in the future.

QASH

This is a token which will enable the platform to be accessible and easy to use. The utility token will have discounts and many more provisions. QASH will be issued by the company and given by select distributes. However, QASH does not give people equity in the company or any rights. It is just a crypto token that people can use when they want to access services provided by Quoine. The main functions of QASH are to pay for services and it is also a crypto asset in the markets. Other business can use QASH if they chose to just like other cryptocurrencies.

The Team

The co-founder is Mike Kayamori. He co-founded the company with Mario in 2014. He has over 20 years’ experience in IT and business management. He is also versed on Venture capitalism. He was the Senior Vice president of the Softbank Company where he oversaw all the activities and investments. He has a Bachelor’s degree in Law from the University of Tokyo, Mike Kayamori has also studied in Havard and he has a Master’s in Business Administration

Mario Gomez _Lozada is another co-founder of the company. He has been in the financial sector for a long time and some of his notable roles include being a Chief Information officer at Credit Suisse and being CTPO is Merrill Lynch. He has been in the banking sector for a long time and knows a lot about financial matters.

Katsuya Konno is the Head of CEO Office. He also worked in Softbank Group and he has worked there for 8 years. He was instrumental in spearheading the opening of a venture capital department of Softbank group in SE Asia and the United States.

The board of directors includes Masaaki Tanaka of Price Waterhouse Coopers International, Atsusgi Taira of Mistletoe Inc and HSozo Isaka of JAFCO Co., Ltd.

Milestones

On 27th Sept 2017, Quoine was the first firm in the cryptocurrency ecosystem to get their license from Japan Financial Services Agency. You can read more here http://www.fsa.go.jp/menkyo/menkyoj/kasoutuka.pdf

The main company was formed in 2014 and the first exchange was called Quoinex. This was an exchange for fiat and crypto. In 2017, the company unveiled another exchange called Qryptos which was an exchange for cryptos only. They had a very successful ICO and they were able to raise $100 million.

In August 2018, Quoine brought together Quoinex and Qryptos and you could even see this when you went to the site.

There was no issue for people who already had their assets on the exchange. Everything was transferred safely and people were able to retrieve them. They also logged in with their initial credentials. The transition was also easy because they had announced it and were even late with the transition. This shows that they can be trustworthy.

Future Plans

If you have read the QASH Whitepaper https://s3-ap-southeast-1.amazonaws.com/liquid-site/quoine-liquid_v1.9.pdf you will see that they plan to come up with a QASH Blockchain in 2019. The future is bright for Quoine as they are planning major breakthroughs in 2019. They also plan to have a network for main exchanges and they will alleviate many problems for example on liquidity.