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BitcoinX: Thank you for taking the time to chat with us today. So, tell us who you are and what your position is at Confideal?
Confideal: My name is Petr Belousov and I am the CEO of Confideal.
BitcoinX: Tell us – what is Confideal? What is the main idea behind the project and why did you decide to start it?
Confideal: Basically, Confideal is a service that allows you to create smart contracts with no coding skills as well as solve disputes with in-built arbitration module. After taking part in different hackathons we understood that businesses needed a new and simple solution to implement blockchain technology into their daily life. Basically, that’s how Confideal idea was born.
BitcoinX: Blockchain technology is expected to alter the landscape and/or create efficiencies in almost every industry. In what ways does your technology address these?
Confideal: We offer other companies to use smart contracts faster, easier and more efficient than ever before.
BitcoinX: When and why did you first decide to do an ICO?
Confideal: it was May – June of this year. We decided to carry out the ICO, as the prospects for blockchain projects became clear. Pretty fast it became clear for us that Involvement of investors is necessary in order to develop a good and long lasting product.
BitcoinX: Tell us about what preparation was required to get the project to this point?
Confideal: Of course, the main part of the preparation was the technical part: arbitration, smart contracts, IoT and the legal part. After all, it is very important that the arbitration module will work in each jurisdiction.
Moreover, we are working with a professional PR agency and we are trying to spread the knowledge about our project as much as we can.
BitcoinX: What makes this project especially exciting for ICO participants? What makes them want to join?
Confideal: The potential of the Confideal project is huge, because the variety of the templates for smart contracts is literally infinite. Moreover, our main goal is to create the fully working ecosystem that will unite merchants with arbitrators, so the project growth potential is really big.
For the short term investors CDL token would be an interesting purchase, because of the fact that you will be able to exchange it for other ERC20 tokens with the ratio 1 CDL to 1.5 ERC20 token (except ETH). Basically, if the pool of ERC20 based tokens gathered from the commission charges is full, than all of the investors can increase their capital in 50%.
BitcoinX: Where are you in the actual development phase of the project?
Confideal: We have created the smart contract builder. Moreover, the arbitration system is almost ready, we have a fully working MVP where you can conclude your contracts.
BitcoinX: After a successful ICO, what is the timeline for coming to market?
Confideal: We are already on the market, but after the end of the ICO we are planning to expand and deepen into the market. Speaking about the exchanges, we have a deal with Bittrex to list the CDL token there.
BitcoinX: Are you focused in any specific geographic areas?
Confideal: In the beginning, we plan to focus on those countries where the cryptocurrency is initially allowed and the law is favorable to it.
BitcoinX: For those who have read your whitepaper and other info, is there anything else you want to add to convince them to participate?
Confideal: We are working with different funds and corporations. The project can already be used, we have a fully working product. Moreover, we are making a lot of partnerships with other projects in order to be able to create the most long lasting and stable ecosystem possible.