BNR News-radio.
Hemmen.
Investing in cryptocurrency is getting popular yet a lot of people still think they are not
able to do so.
Thomas van der Bijl wants to change that with Follow Coin.
What is Follow Coin?
Follow Coin is a platform designed to bring newcomers and crypto-experts together.
There are all kinds of stories which implies that coin X has double or tripled.
A lot of these stories ain't true.
What we want to bring with Follow Coin is a new level of transparency in the trades,
things to watch out for, the dangers.
But Follow Coin also enables you to follow up on the advices of a specialist.
And an app can help you with that?
Yes, we are working on an app/platform. On the app you can see the recent advices and ratings of the specialist.
There are more than 1200 cryptocurrencies, and for people who are new to cryptocurrency.
It's a lot of work to get familiar with crypto's. Follow Coin offers the solution to this problem.
What are the reason you decided to start Follow Coin?
Where does your interest in cryptocurrency originates from?
I've been interested in Bitcoin since the start of Bitcoin in 2009/2010.
Because of that I took a course, and afterwards I joined a closed Facebook group.
Nobody knows exactly what he's doing.
And there are numerous amount of such closed groups.
But all this information isn't coming together anywhere or anyhow.
And that's what we want to do with Follow Coin.
Do you understand completely what's happening with Bitcoins?
The way it works and where your money goes?
Yeah, I do. Everyone can participate in cryptocurrency.
Today Bitcoin reached it's all time high, around the $5200 dollars.
It's impossible to predict this.
Cryptocurrency depends on news.
Recently there was some news from the United States and China which had a big impact on
the price. Its less stable than the Stock Market.
In order to fund Follow Coin you want to raise money, you are going to do that with a so-called
ICO(Initial Coin Offering).
How does an ICO works?
We are going to do an ICO to fund the platform, to hire people.
You have to imagine, we are going to build and design our own platform where you can
automatically follow up on the trades from a Specialist/Influencers.
We want to bring transparency back to the blockchain environment.
It's anonymous and decentralised now.
And we see the desire from people to follow traders and experts.
The hype that's going on right now is getting bigger and bigger by the day, and we want
to centralise the information for people, so they can benefit from it.
The ICO is on the 27th of October(2017).
With the ICO you can join with Ethereum(ETH). Ethereum is the second most known cryptocurrency.
You have to send this to our ETH-adress.
Immediately after you will receive your own Follow Coins.
So Follow Coin is going to have its own digital coin?
Yes, it's a digital coin.
As you stated there are already 1200 coins, and you will be coin 1201.You just create your own coins.
So it's basically free money, you just create your own coin.
I wouldn't call it free money, the money is going to be used for the platform and services.
The idea behind it is, you get your Follow Coins after buying them.
You can use your Follow Coins for the platform.
Right now you see a lot of new coins being created, without any use or contributing to
the cryptocurrency world.
We want to achieve that your Follow Coins have an actual purpose.
So you can actually use your Follow Coins, in stead of just trading them on exchanges.
What will you be able to do with your Follow Coins?
For example you can use your Follow Coins on the platform.
But you can also trade them on exchanges for Bitcoins.
Who are accepting these coins?
Or are the coins simply an investment tool?
Are coins meant to be a payment option to buy bread at your local store?
That's not something we want for Follow Coins right now.
For that you need a lot of marketing and people that will accept your coin.
Even Bitcoin isn't being wideley used as a payment option right now.
Maybe at some pizzerias in Silicon Valley.
You can already pay with Bitcoin at Thuisbezorgd.nl
It's not our intention to use Follow Coins as a payment option.
we want to use it as the lifeline of our platform.
Initially the ICO was scheduled for september(2017).
Can you tell us why the ICO has been postponed to october?
That's because of new regulations and laws.
We wanted to be sure that our business model was perfect and met all the requirements.
We talked to our lawyers and fine-tuned everything
We wanted to do everything right at once in stead of running into problems a couple weeks in the project.
We didn't want to go live with any uncertainties.
And that's why we decided to postpone the ICO a month.
You are using famous people to praise your ICO.
For example Floyd Mayweather.
Do you think it's wise to attract people into making financial decisions?
It's marketing, people still need to want to invest in something.
It's their own choice.
Besides our ICO, we are aiming for more acceptance for cryptocurrencies.
With famous people you have a greater audience.
Besides Floyd Mayweather, we are also working in the Netherlands to get more people interested.
Last week, we had a meetup at our office in Amsterdam.
Surprisingly the meetup had a wide variety of attendees.
Is it a danger that a more and more people are getting into cryptocurrency?
And more and more people are giving advices without any proper reasoning?
Like for example, you can have a family meeting
and your aunt is bragging about how she doubled her money.
Right, that's exactly what we want to prevent with Follow Coin.
Because Follow Coin shows the trades and advices from people, and people can be rated based
on their advices and trades.
The Dutch Financial Authority(AFM) are warning for ICO's.
In China, ICO's has been halted.
It's a bit unregulated.
Are these investments safe?
If you know what you're doing, and don't get overhyped.
You still need to use common sense.
You should always Do Your Own Research(DYOR).
You should always examine your investment. What are you actually investing in, who are the people behind the product.
Basically you can use use some kind of checklist.
Just like the Stock Exchange, you can never predict if a coin is going to rise or fall.
With Follow Coin we want to show the trades of people.
On what price the trade was opened and on what price it was closed. And the profit you made as a follower.
As an expert, are you seeing ICO's which aren't trustworthy?
Of course, there are multiple ICO's that are scams.
That's the reason why there is some demand for regulations, in my opinion that's a good thing.
You are located in Amsterdam. Is Amsterdam becoming a centre for cryptocurrencies?
Not yet, I'm hoping it's going to be just that. In my opinion Amsterdam isn't known enough as a bitcoin-friendly city.
Arnhem calls itself a Bitcoin friendly and I agree with that.
You can pay with Bitcoin at a lot of places in Arnhem.
I would love to see Amsterdam becoming a
cryptocurrency friendly city.
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