Interview with Dr. Cao Jing, founder of bitmax: bitcoin is gradually integrated into the mainstream financial circle, and bitmax ushers in a new development cycle

Disclaimer: This article is intended to convey more market information and does not constitute any investment advice. The article only represents the author’s point of view, not the official position of Mars finance and economics. Editor: remember to pay attention to Oh source: industry trends 2020 is undoubtedly a memorable year, from 312 to a new high in bitcoin, from the dafi frenzy to the launch of Ethereum 2.0. Some people have made huge profits from the “defi mining” project, while others have suffered from contract losses. In this year, the bitcoin and encryption industry once again became the focus of attention, breaking through the previous high prices and the acceptance of more large institutions. In the midst of the uproar, we ushered in 2021. In the past year, bitmax, known as “2020’s hottest”, has also made breakthroughs. It has successively launched dedicated line access services for institutions, launched staging products and defi mining products, launched bitmax “big navigation plan”, established cooperative relations with more than 100 head global encryption communities, and launched more than 20 first-line boutique projects, which were well received by the market, including 7 More than 20 million btmx have been destroyed in the auction projects. In order to have a deeper understanding of how bitmax has made breakthroughs in the competition between trading platforms in the past year, and how bitmax will adjust its product ecology and make detailed development plans in 2021, the founder and CEO of bitmax, was interviewed by Mars finance. Interviewee: Cao Jing, founder and CEO of bitmax exchange Q: looking back on the development of bitmax in the past two years, what are the key words that can best represent bitmax? Dr. Cao, founder of bitmax: innovative, transparent and reliable. Q: If bitmax’s performance in the past two years is scored, how many points do you think it can give users? Dr. Cao, founder of bitmax: in the past two years, I think we have given users an 80 point answer sheet. To our satisfaction, our service to users is second to none. What needs to be improved is that some of our product experiences still need to be optimized and upgraded. I believe that bitmax will be able to hand over full scores through time polishing. Therefore, in terms of product experience, we still need to continue to work hard to reach the first-class level in the industry. Q: What is bitmax’s plan for marketing strategy next year? Dr. Cao, founder of bitmax: at present, 30% of our users are from mainland China, and 70% of our users are from non-U.S. foreign regions. The composition of users is very healthy. Fine operation will be the focus of our work in 2021. How to sink into users and communities in each country, and how to better serve them will be our next focus in the market. Q: What changes will bitmax make in terms of products next year? Will bitmax launch options products? Dr. Cao, founder of bitmax: next year bitmax will focus on contract products. Our contract products still need to be improved in details. Our products are mainly concentrated in contracts and will not involve options. Options will never be the mainstream products of exchanges. Q: Many exchanges will expand horizontal business, such as public chain. Does bitmax have this plan? Dr. Cao, founder of bitmax: not yet. Public chain may not be the trend of development in the future. On the one hand, the development of blockchain now no longer needs more public chains; second, the application scenario of public chain released by the exchange is not so clear, so there is no need to develop public chain at this stage. Q: The security issue of the exchange has always attracted much attention. How does bitmax view the security issue? Dr. Cao, founder of bitmax: security is a subject that every exchange has to face. As a mainstream trading platform, bitmax often suffers from hacker attacks, but it has not encountered any major accidents. In view of the safety accidents that have occurred in many exchanges, we will actively learn from experience and design multi-layer protection design. So far, bitmax has not encountered asset loss. Bitmax is a relatively safe and stable trading platform. Q: Bitmax has made a good breakthrough in the spot trading business this year. The market performance of online projects is strong. Many people in the industry think that bitmax is “the lucky one who has grasped the defi outlet”. What do you think of this. What’s more, what’s the logic behind bitmax? Dr. Cao, founder of bitmax: since 2019, bitmax has been laying out defi, which is the only part of the blockchain industry that we can see. In addition, bitmax layout is not only investment and incubation, but also closely contacts with project parties to promote the development of the project. Some project parties who have not yet reached cooperation will come to us to discuss financial issues such as economic models in the very early stage of development. They will regard us as one of their consultants. Naturally, bitmax will be the first choice for these projects when the currency is put on. Bitmax will not “force” any currency. All online currencies are officially authorized. At the same time, bitmax’s coin loading rate is very low, and the project audit is very strict. We will select the best online from more than a dozen projects, especially in the field of defi. The reason why bitmax has created a very excellent record this year may also benefit from this! At the same time, bitmax hopes to achieve win-win cooperation with the project, and will also have great support for the project in terms of products, including staging, staging pre experience, defi liquidity mining, etc. bitmax hopes to provide a complete set of services to the project side. Therefore, many high-quality project parties, especially overseas high-quality projects, will choose bitmax. Q: Bitmax’s auction projects have always been the focus of the industry. How does bitmax explore high-quality projects? Dr. Cao, founder of bitmax: in terms of exploring projects, first of all, bitmax’s team will sink into the communities of various projects to find high-quality projects. Of course, a large number of projects will find our trading platform for cooperation. This is the first step – collecting a list of projects. In the second step, the due diligence team will conduct a preliminary project screening, and the coin committee will score the project, pay a return visit to the project, and understand various aspects of the project information and other audit processes before selecting the best project for auction and coin. Bitmax will support each other to make the project and our platform better. Q: It is understood that bitmax team has a good traditional financial background, and bitmax has also obtained investment from some traditional financial institutions. Can you give us a detailed introduction in this respect? Dr. Cao, founder of bitmax: bitmax has obtained two rounds of investment. The first round is led by Jingwei China and the second round is led by Sequoia Capital, which is basically traditional financial investment. Of course, our shareholders also include well-known enterprises in the industry such as bit mainland. Most of the members of bitmax’s team are from Wall Street, and bitmax has a strong traditional financial background. Q: You have deep qualifications in the traditional financial field. Why did you choose the blockchain industry for further cultivation? Dr. Cao, founder of bitmax: in fact, it will be very difficult to develop in traditional industries with many limitations. However, in emerging industries, it means more opportunities and more success. Deep ploughing in an emerging industry, you can participate in and actively promote the development of the industry, as well as promote the standardization of the industry, so as to give full play to the role and value of individuals, which is a very fulfilling thing for individuals. Q: From 18 years to now, we have experienced a change from a bear market to a bull market in bitcoin. In terms of development strategy, what is the change of bitmax? Dr. Cao, founder of bitmax: at the beginning of bitmax’s establishment, our development strategy has been determined, and we have been following our strategy smoothly. Of course, there are also some tactical adjustments in small areas, including the means of publicity and product focus. At first, our products in 2020 focused on contracts and derivatives, but after the outbreak of the DFI wave, bit Max’s forward-looking layout of Devi temporarily shifted the focus to the difi products. In addition, bitmax has a very high degree of support for the defi project, and has made great achievements in 2020. It has also become the “hottest trading platform in 2020” in the community. In the future, bitmax hopes to make a breakthrough in derivatives and provide better user experience, including support for tax declaration, support for sub accounts, more legal currency entry, upgrade of documentary system, etc. In addition, bitmax will pay more attention to the construction of the middle and back office, risk control system, security system upgrade, financial system, etc. Q: Now that bitcoin has entered a bull market, can you give some suggestions to investors? Dr. Cao, founder of bitmax: in my opinion, bitcoin has become more and more integrated into the traditional finance. Bitcoin is more and more closely linked with the commodity market and the financial policies of major countries in the world, and has gradually integrated into the mainstream financial circle. Personally, I still look at bitcoin. Bitcoin is different from other counterfeit currencies. To be optimistic about bitcoin is to be optimistic about the growth of the whole cryptocurrency industry. I think the whole cryptocurrency market will gradually have its own positioning. When the industry reaches this position, the imagination space of bitcoin price is infinite.

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