The event takes place with the informational support of experienced companies
ACI-Ukraine conference was held in Kyiv, on the subject of "Crypto Currencies. New Challenges for Financial Institutions".
This event has become special, not only from the point of view of qualitative and useful performances from the scene, but also because of the creation of a genuine unique community that brings together professionals from the traditional financial market, the best experts in the cryptocurrency industry, journalists, miners, lawyers, entrepreneurs, crypto-enthusiasts and regulator. The conference gathered to discuss further fate of cryptocurrency, investments in ICO and the legal aspects of the crypto industry.
It’s known that cryptocurrencies arose as a kind of protest against the fiscal dominance of the state and against the dependence from central banks. The debate around cryptocurrencies and blockchain technology is currently reminiscent of Schroedinger's cat: as long as the box is closed for the general public, it's unclear whether it's” alive” or not. A subject of the tokenization of the Ukrainian economy was brought a long time ago. And now there are two ways of developing this theme in Ukraine: the tolerance of crypto-business and crypto-technologies, or the conflict and the prohibition of everything connected with cryptocurrencies. We collected 10 expert’s theses of the conference which was held in Kyiv February 08, 2018.
Stanislav Podyachev, Blockchain Lab
- There are neither mentions in the law that you have the right to operate with Bitcoin, but there is public and private law. Public law regulates relations between each authority and between state authorities and citizens. Private law regulates the relationship between individuals, individuals and legal, and legal among themselves. And here the rule "All that is not forbidden - it is allowed" become basic. It allows developing our business and society. The reverse principle: "Everything that is not directly foreseen is forbidden". It is from public law and it is aimed to limit the power of officials. Accordingly, it is wrong to restrict the business only by the public law and to prohibit something. I believe that the regulation is necessary. But if the law-enforcement agencies are engaged in it, they are looking for how to prohibit or restrict cryptocurrencies. We have to move in this direction, taking into consideration the experience of Belarus and Estonia. There are three simple moments: First - to define the basic concepts associated with crypto-technologies. The second is to create a registry of crypto assets in which to describe: "Here is Bitcoin, and this is its protocol." This will give the state authorities an understanding of what to work. The third moment - it is necessary to legislate the adoption of a moratorium on regulation and additional restrictions on the right to engage in this business.
Sergei Bondarenko, Deloitte Ukraine
- Bloсkchain is a revolutionary technology that has a lot of interesting properties. At the same time, these properties are a challenge for existing systems. The uncertain status of cryptocurrencies and blockchain is only worsening everything. Central banks are sure that the existing system is safe and forever. But at the same time, they try to experiment because they don’t want to stay "overboard." During a year about $ 1 billion spent as a commission for money transfers within Ukraine. Another problem is that in our country cash is still very popular and widely spread - and there is a demand for these payments. Probably, it’s not desirable to make this system available in open and accessible registry. The Bank of England researched, that the cash movement into digital money would add 3% to GDP only by accelerating the money processing. Tokenization of the economy will reduce the cost of "keeping" the whole of this money supply and its control. Blockchain can also be used to solve the money supply logistics. Compared to the countries that already try to experiment, the walking around on tokenization may slow us down yet.
Emal Bakhtari, NBU
- In August 2017, NBU issued a press release with notice that crypto-currencies are beyond out of any definition which are described in the legislation. Accordingly, it cannot be called illegal, as well as mining, ICO, tokens, etc. Earlier, the main reason to open a criminal case was "money surrogate", but not now. However, you can always find out other reasons - it's not with our competence. For our part, we determined the position: the NBU is not going to break anything, either in the legal field, or in the technical. We are looking at the European Union, their legislative process on cryptocurrencies. Our unchanged approach is that the Hryvnia remains the only means of payment. The development of crypto-technologies should not encourage corruption, money laundering, and the financing of unlawful actions. The whole world is struggling for transparency of transactions and identification of participants in operations. It is important for us that the transfers are carried out transparently. Here the question is about the ownership of assets, the declaration, and the payment of taxes.
Ruslan Chorny, Financial Club
- There are a lot of problems, but I do not believe that everything can be bypassed due to virtualization, which will allow you to be separated from the state. Those who use cryptocurrencies for illegal actions - the first want to do that . But it will hardly be possible to avoid regulation. When it comes to serious money, regulation is inevitable - and this will have to work. In Ukraine, now regulation generally looks like a "shake up": the Security Service of Ukraine comes and takes away entirely real assets. I am for legalizing the relations between individuals and legal entities in such a way that it could be used for institutionalization, when a legal entity can legally buy crypto assets and move it into products that are related to regulated markets. There are some examples: the first one - is the funds that have the opportunity to invest in the cryptocurrencies, the second is derivatives.
Eric Naiman, Capital Times Investment Company
- Almost all believe in blockchain as a technology. In my understanding, there is a real economy where one can "feel" another, but a virtual economy, in which robots sell something to each other, has begun to emerge. For settlements within virtual economy, special virtual currencies are required. In my opinion, existing cryptocurrencies are not suitable, but will be taken in the future as a template. Most likely, in the same virtual economy there will be a shadow component with their own currencies and banks. But the definition of the cryptocurrencies status is necessary today. After all, there is a part of people who want to engage in this activity transparently.
Vitaliy Shapran, Ukrainian Society of Financial Analysts
- I think, there are 2 possible solutions now. The first is the British authorities’ format when there is a public discussion about regulation. The second scenario is China, where the prohibit of cryptocurrencies has taken place. In our country, the prohibition automatically means the appearance of a "black market". So far, I'm inclined to believe that we’ll have the first option, or some other surrogate. The practice of our country shows that without any regulation some unpleasant phenomena in the market appear (for example, financial pyramids). Therefore, a long time without regulation (possible self-regulation) simply lead to special attention from law-enforcement officials to this segment of the market.
Vadim Grusha, BlockSoftLab
- If we talk about transferring economy to cryptocurrencies, the main problem is that rate is very volatile in this system. Nowhere are centers of influence, so the rate is unpredictable in the global sense. Technically, this can be stabilized if blockchain starts to be implemented at the nation-wide level. Technology will become an effective resource that will require support in cryptocurrencies settlements. In principle, it will be possible to take a crypto-exchange protocol as a basis, that will have certain centralization, but due to the full transparency for all participants in the process. This will be much more effective than the existing system.
Nazar Polivka, Axon Partners
- At present,written fixing of agreements between the parties in the format AML / KYC (identification and fixing the counter party) is an important point in the ICO. If it is ignored, after the phrase: "We have collected, now we have to transfer it in the fiat money" – then we face the problem, like "who knows whom in which bank". Tokenization has long been taking place - and the whole world is moving in this direction. There is no certain norm to do AML / KYC in such a way. But every time you come to the bank with a crypt, you will be told: " where is this, that you have gathered?" Therefore, whether we like it or not, ICO and cryptocurrencies are moving toward transparency.
Denis Dovgopoly, GrowthUP Group
- AML / KYC for investors is a waste of time + nobody wants to disclose information about yourself. Interpol has already tools for tracking wallet involved in illegal actions. They can safely come to you with the statement: "You have money from a drug dealer, if you do not show the owner of this wallet , then you are guilty of it." Let's look at the phrase "decentralized system and regulation". It looks like to issue a law that in Kiev rain will go 60 days per year, and the rest of the time will be the sunny weather.
Eugene Loza, EXCAVO
- As for me, bitcoins are either a transitional tool, or already those money for the transferring economy to Cryptocurrencies. From my own experience, I can tell you that I bought my phone in Kiev for bitcoin. And at the moment it is a good device for economic relations between people
Everything you wanted to know about blockchain technology, ICO and cryptocurrencies
During the conference the main aspects of the industry will be discussed: the complexity and peculiarities of the ICO, advice on which projects to invest in cryptocurrencies, the features of mining, recommendations how to earn money in a digital currency, and many other issues. For professionals, this is a platform on which it is possible to conclude deals and find new partners. For beginners - the opportunity to join the crypto industry, find out the features and find mentors. Find out how to earn millions on this: get inspirational ideas and find new business opportunities.
Comfortable hall in the city center, convinient parking
Kyiv, 1A Metropolitan Vasyl Lipkovsky str.
FOOD AND DRINKS
Thanks to our partners, we treat our guests with delicious coffee, goodies and canapes.
The event is held with the support of experienced companies in the field of investment in cryptocurrencies
If you have any questions about the event, please contact us directly. We will respond for sure.
LETS GATHER TOGETHER
The purpose of this conference and other events that we plan to organize in the future is powerful and serious - to make Ukraine a center of blockchain technology and cryptography industry. We believe that we have every chance to become true leaders in the crypto industry.