AMA Session with Hacken CEO: Crypto Questions
On January we held AskMeAnything session with our CEO, Dmytro Budorin. The main stake of questions was dedicated to tokens and development in the crypto industry. In addition, Dmytro shared his opinion on CER monetization, present clients from traditional IT, and business model during the bearish market.
What are the marketing strategies for HKN token promotion?
There are few techniques of how you can do it. The most favorite technique in crypto space is dirty marketing and this is never going to be Hacken’s option. I am sure that we can easily bypass all cybersecurity tokens in crypto space but in a professional and transparent way. I am sure that in 2019 we will see crypto auditing firms preparing proper financial modeling of CoinMarketCaps of all tokens in each specific industry. The main focus of our team right now is revenue and regional expansion. Marketing and industry appreciation will come.
What's going on with the protocol migration?
We decided to postpone migration to Q3. Primary focus now is on building a global sales team and a sustainable business model. Evolution paper is designed to explain migration and 2020-2023 roadmap that will be presented in Q3 as well.
When HKN token will be listed on a new exchange?
Even though I don’t believe that the number of exchanges influences the price, we do work in this direction. We are not interested in listing at small exchanges and we refuse to pay for the listing. The crypto exchange environment is changing very fast. We keep an eye on these transformations and communicate with future market leaders. I cannot give you a definite answer to this question. It will happen “suddenly” - one of the key requirement from top exchanges is not to disclose the negotiations. What I can say is that we do have significant progress in this direction.
What is on the Roadmap in 2019 for Hacken?
Sales, sales, sales. We will open JV in Singapore and Berlin and prepare sales kits for new business development people. We want to educate all of the community members on how to sell Hacken products. This is the key to the success of Hacken becoming a global company.
What steps is the team following in order to improve HKN token liquidity?
Probably you have noticed the volume increase a month ago. That was the outcomes of spread trading tests. 99% of tokens are using this technique so to fake their volumes and give an opinion to new traders that their token is liquid enough to invest. Again, this is not how we do business at Hacken. Our primary focus is to increase sales, create new values for HKN and to synchronize token market cap with finance model of our token.
What are the plans for 2019 in terms of marketing and community growth?
We are working on gamification of community development. This is Maks’s task;) I want to launch it as soon as possible.
The availability of two tokens, HKN and EOSHKN, may create confusion in which one to buy. What is the plan on that?
EOSHKN is an experiment to increase our presence in the EOS community. We have great feedback and will announce a few EOS partnerships very soon.
Has Binance (and/or any other big exchange) partnered with CER?
What has been the outcome in terms of business from the Binance Conference?
This was the best conference I have attended. It will definitely bring us to another level. We are in active follow up phase exactly now. Details soon
Are there plans to monetize CER?
We already established the model.
- Exchanges CERtifications https://hacken.io/services/certified/
- Future banner advertising. The key target is to get reference traffic from top crypto media platforms CMC alike.
- Indirect sales of cybersecurity services.
- Future - API sales.
- Future - digital assets and insolvency audit of exchanges.
How has business been in this bear market? Do we have any non-crypto clients?
Starting from Q3 2018 we are focusing more on traditional enterprise clients. Such sales take more time but are more stable for the long run. We had to face a shift from crypto revenues to the enterprise in this bear market.
What are the steps that the Hacken team will take in order to expand its community and attract new investors?
Only hard work. For cybersecurity part of the business, the key is sales and BD. For CER - cold storage ranking. This will change all rules in the crypto industry. A lot of exchanges (approximately 70%) will go down and we will be one of the causes why.
Will there be a detailed launch of CERtified?
Of course:) I have made few great pictures at Binance conf and can't wait to release them:) We will start the campaign just after releasing the mobile version of CER.live.
We enjoyed weekly video updates but they stopped. Can you promise that this new weekly update will last a very long time?
Thanks for this message. I agree that we should do more communication. We are working a lot now on CER now and it takes all our time. We are about delivering very important things to the crypto world and I want to stay focused.
You also can contact Maks in Telegram (@maksdexel) for any offers/requests regarding token development. But please don't spam with moon/binance requests.
Will CER also help in HKN Token marketing; is there a way to integrate the two things?
For CER the revenue is about to start soon and of course, it will be in HKNs.
Can you adopt the live streaming system for AMA, in order to build trust within the community?
That’s a good idea but let us finish the CER mobile version first.
Can you please ask your team to put back on the main page the description that the Hacken ecosystem is built on top of the HKN Token?
This is a sensitive question. Raising money is very important, but way much important is to build a sustainable business model. We can see that lots of our competitors in the security crypto space already went bankrupt. This happened because they were too dependent on the crypto industry. Unfortunately, when enterprise clients see info about token, they are a bit scared and we have the risk of not getting them. That’s why we decided to shift the attention of website visitors to our cybersecurity capabilities and skills.
Once again - I see that the token market cap will be in line with the financial model behind it. This is way more important and eventually, the market will focus on this. I know companies who are already building such crypto auditing capabilities. In 2019 we will see lots of dramatic changes in the top 100 of CMC exactly due to the presence or absence of sustainable and accountable business models.
Why would Hacken need masternodes?
Good question. For me, master nodes is a kind of derivative that distributes the value to the investors. The idea of stacking is cool but it can be implemented in a simple smart contract; we don’t need to build complex infrastructure and to have costs of maintaining it. So we decided not to implement this model. But again - we will definitely bring more value to HKN.
Do you still plan to switch to VET?
The team never officially told about VET migration, similarly to any other project.
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