“5 Way Regtech Can Help Stabilize Crypto Markets” with Dimitri Chupryna, co-founder of TaaS Fund

Regtech term coined for Regulatory Techology that helps simplify various complex challenges for meeting regulatory and compliance requirements through technology enablement. Regtech has tremendous potential to help stabilize crypto markets. At Bonova Advisory we interview industry thought leaders in Banking and Finance discussing about ways industry can leverage new innovations to build a robust and strong financial eco system.

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I had the pleasure of interviewing, Dimitri Chupryna, a co-founder of TaaS Fund. Dimitri focuses on portfolio management, business development, and risk management at TaaS Fund. Before founding TaaS Fund, Dimitri earned a BA in Economics in San Francisco and worked in numerous Silicon Valley startups.

Can you tell us the story of how you got involved with the Regtech or Crypto markets?

— While completing my studies at University of San Francisco, I was curious about financial markets, and what made prices move. At the same time, in 2013, a friend invited me to a Bitcoin hackathon hosted by Balaji Srinivasan. I immediately started absorbing as much information about the technology as I could, and it culminated in 2016, when I co-founded TaaS fund.

Can you share five ways that Regulation and Regtech can help stabilize the Crypto Economy?

Although born out of a cypherpunk movement, Bitcoin prices are prone to exploitation and manipulation — strictly because it is a young and developing market. To prevent that, regulators must (1) demand transparency from exchanges to prevent wash trading, spoofing and front-running. Blockchains are public by design, and so innovative regtech may be used to (2) monitor transactions to identify fraudulent activities and money laundering. With the rise of Initial Coin Offerings, the public rushed to invest in sub-prime projects, lowering investment standards and giving scammers a podium to shine on. Smart regulators need to (3) define the legal status of ICOs, (4) set global- or nation-wide minimum parameters for running a token sale, and (5) monitor transactions to enforce the proper use of funds.

What are the top concerns that crypto firms should be considering in order to have a competitive edge?

A crypto firm in 2018 needs to understand how to achieve a product-market fit first. We are in the very early stages of the adoption curve, and whoever comes up with a product that masses will truly need is going to get a significant market share for years to come.

Can you share a story of a time when things went south for you? What kept you going and helped you to overcome those times?

To be a successful trader, one needs to (1) bet against the consensus and (2) be right. It is more than difficult to achieve them at the same time, and things often take unexpected turns. To stay sharp and be able to beat the market consistently, a trader must let go of emotions, analyze the situation rationally and take decisive actions, according to the plan.

What are some things that you do on daily basis regardless of how busy you are?

I think there are great lessons to be learnt from the past, so I try to read and analyze different historical events to identify similar patterns occurring today.

What are the top-three upcoming conferences you are attending and are excited about?

I am going to London for “Major Crypto Conference” and “Malta Blockchain Summit” in the next few weeks.

Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?

“A man must know himself thoroughly if he is going to make a good job out of trading in the speculative markets.” (Jesse Livermore) Applying this wisdom to financial markets, I think this quote goes far beyond them. To succeed at any job and in life, more generally, a wise human must be radically honest with himself/herself. It helped me many times in my life to step back and take a look at my decisions.

How can our readers follow you on social media?

You can follow me on Twitter at @dimitritaas

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