NEW YORK, NY / ACCESSWIRE / April 8, 2020 / Beginning April 1st, Bione exchange has brought on Eric Ma as the new CEO. Previously the Global Community Manager for CoinMarketCap, Mr. Ma will bring his experiences to help Bione expand internationally. Mr. Ma has accepted to participate in this interview to discuss the challenges and opportunities that he'll face as CEO of Bione.
HL: Can you give me a general introduction of Bione, the exchange you are now CEO of?
EM: First off, I'm very honored to have this opportunity. I'm also very excited to be working with the Bione team to expand internationally! Bione was founded in May 2018 and is a rapidly growing crypto-to-crypto exchange registered in Singapore with offices around the world in the U.S., Canada, Estonia and Taiwan. We obtained a tier-1 financial MSB (Money Services Business) license which is regulated and issued by FinCEN (Financial Crimes Enforcement Network) in the United States. With our steady growth of users and community, we constantly give ourselves the pressure of providing more tools and services to them. Bione has done a great job thus far establishing themselves in the industry and we're now ready to expand internationally to serve the ever growing crypto industry.
The exchange plans to provide its users with an all-in-one solution, including trading pairs exchange, fiat-token trading, futures trading, market information, and a series of innovative financial derivatives, such as crypto asset custody, crypto asset saving, and DeFi (Open Finance) services.
HL: What do you think is the core competence of Bione exchange?
EM: I believe users will find our website easy to use. We're still making tweaks in our UI to increase user experience satisfaction. I also believe a company's competences are all interconnected. With a responsive customer support system, any questions or issues are dealt with quickly by our team. So if something on the site doesn't work well, it's fixed. If feedback is given, we take it to heart and try to implement it if we think it's good for our users. We may not be perfect, but our intentions are always good and we try to be helpful at all times. We spend a lot of our resources on the security of our platform. We've achieved ISO 27001 information security standards across the entire trading platform. It gets quite technical but there are 114 control points covering how information is brought in, managed and maintained. As a user of the Bione platform myself, I want to make sure my funds as well as the funds of all Bione users are SAFU.
One of the most criticized parts of cryptocurrency exchanges is the quality of the customer service. Some of these problems include slow withdrawals, frequent login issues, slow customer service responses, thin transaction data, poor API stability and slow response when the multi-factor authentication (MFA) needs to be reset which could result in substantial financial losses for customers. Bione wants to be an industry leader in solving these issues.
HL: Do you have some big activity or plan in mind regarding the exchange?
We've been focused on foundation building and operations the past couple years. We're now ready to expand and be more public in terms of BD and Marketing. Our team is now focused on being a tier one exchange. We're continuing to improve our platform and services offered and plan to innovate and drive for the mainstream adoption of crypto around the world. We may never catch up to the likes of Binance or Coinbase, but we'll position ourselves as a great alternative to them for the crypto community.
Bione aims at being a reliable exchange with the robust technical capacity to implement upgrades and solve technical issues. It values security and understands the importance of having a dedicated professional security team and being ahead of hacking trends. The importance of a healthy trading depth, allowing the exchange to withstand large transactions without big fluctuations, and making sure user funds are safe are at the top of Bione's priorities. Bione's efficient matching algorithm for trade engines is key in price discovery and user experience.
HL: What do you think about the industry this year? Some people think BTC and possible other digital assets will become a safe haven to the coming recession, others think the market is still very speculative susceptible to be influenced by movements in the equities, commodities and forex markets. Where do you position yourself between these two narratives?
EM: That's a tough question. The accurate answer is nobody really knows. To me, crypto has not yet proven itself to be a safe haven or hedge to traditional finance the way gold has. I do believe though that crypto has the most upside compared to all the other markets in the world based on how early the industry is in its overall timeline. So if you're looking for short term security, crypto is probably not your best bet. Long term wise though, it's a very good bet. With that said, it certainly is still very speculative and susceptible to other factors including influences from major holders of BTC and traditional market influencers. I'm going to place myself somewhere in between the two narratives because both sides absolutely have their argument points. I sense that this year may still be slow in terms of price growth, but the good news is that the industry itself is continuously building and improving. That hasn't stopped. I have no doubts that crypto will continue to grow and more money will flow into the cryptosphere. We'll be in a bull market again before you know it.
In order to protect the bulk of our user funds Bione will have the option of complete offline storage (cold wallet) and private key isolation management. Assets will be stored in batches on multiple offline enterprise-level cold wallets. The cold wallets' private keys will also be isolated and managed offline. Only key people within Bione's management team have clearance to access these private keys.
HL: What is the biggest challenge you might face right now?
EM: The biggest challenge is often ourselves. It might sound cliche, but believing in ourselves is the most powerful advice our leaders at Bione give to our team. Oftentimes people like to blame external factors for their own shortcomings, however, humans are amazing and can accomplish anything we set our minds to. I will always encourage the Bione team to reach the goals we set and discourage making excuses for why certain goals aren't met. We try to inspire each other and help each other find the drive needed to achieve great things together regardless of what the market looks like. We're focused right now on finding new ways to improve our platform and bring in more users globally. Hopefully the current pandemic will soon end and the world can return back to normal.
Bione has adopted a series of measures to effectively increase the trading depth of the platform. The core technology used is BLH (Bione Lightning Hand), which is a layer-2 lightning network memory matching technology. This can enable the matching engine to process any trade with a result in less than 850 milliseconds. This means that our matching engine can match tens of thousands of orders simultaneously.
HL: Could you please give your overall vision for your exchange in the near future?
EM: Bione will be one of the most trusted exchanges in the future with users from all over the world. We hope to build partnerships with key players in the industry so that we could provide a multi-faceted platform which will serve more than just the trading of crypto but other services that will benefit our users.
One of Bione's most attractive models is its BIC repurchase model. After BIC goes online, 100% of the trading fee income generated by platform mining will be used to repurchase BIC during the mining period by Bione. The repurchased BIC will be burned by Bione. Users can check via Bione's official website to ensure transparency until the total destruction of 100 million BIC.
HL. Where do you see the crypto market in the long term?
EM: We are still early in the overall timeline for cryptocurrency. We're like at an early adolescent stage of crypto. We just started learning new skills, discovering new challenges, thinking critically about issues and beginning to build relationships with other industries. We've got a long way to go still. We'll need more institutional money to enter the space and the support of governments around the world to further the credibility of cryptocurrencies. Above all, educating the general public about crypto and generating even more interest in crypto will eventually drive up the overall demand of cryptocurrency.
With its focus on security, reliability and transparency, Bione is determined to be among the list of exchanges leading the financial revolution which is already starting to take place. Given the current circumstances in the global markets, people around the world will start paying more attention to blockchain technologies and decentralized financial systems. Bione is positioning themselves to take on this golden opportunity.
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CONTACT
Bione
Mr. Eric Ma
[email protected]
Phone: +8615153242431
SOURCE: Bione