BLOG

parisoma portrait: ambisafe

< Back to blog

ARTICLE

PARISOMA Portrait: Ambisafe

This member portrait was published under the title "ICO Series: The state of a bubble — Episode 3", part of our PARISOMA Review publication on Medium.

ICO stands for Initial Coin Offering. The term has recently been made famous after several new ventures raised $50M+ in a short amount of time. In this series, we will explore the market’s recent fascination with ICO by explaining why it exists, how it works, who the main ICO players are, and why the ICO market may be in a bubble. 

In this episode, we took the opportunity to have Andrey Zamovsky, CEO of Ambisafe and a member of the PARISOMA community, to ask him a few questions.

Ambisafe

PARISOMA: What is Ambisafe? What is your positioning in the cryptocurrency ecosystem?

Ambisafe: Ambisafe is a company of pioneers in blockchain technology. We’ve started with developing and licensing white label cryptocurrency wallet software and now providing wide range of blockchain-based financial market services, including issuance of new tokens, ICO’s exchange integrations and much more. The last big one is a new kind of exchange, called Orderbook.

Where did the idea come from?

I have developed an idea and a prototype of cryptocurrency on my own back in 2010.

How do you see the crypto currency market now? Are we in a bubble?

The cryptocurrency market is currently exploding due to the first blockchain killer app that got wild — the concept of ICO. It allows investors and companies from the opposite part of the globe connect and trade shares for cryptocurrency. Until blockchain the share issuance was normally done through secretary of state or some form of government agency, like a central securities depository.
It costed hundreds of thousands of dollars to list shares on multiple exchanges or do cross-border crowdfunding. Blockchain made it possible to issue shares literally for $1 miner fees, and send them to investors worldwide instantaneously. Nobody could imagine that this is possible before.
Like in any early days of any exploding market, a lot of people are trying to make money in fraudulent ways or buying products without proper due diligence, so I think that the bubble exists at the moment but the concept of ICO itself is not a bubble. Due to dramatic cost reduction and faster speeds, I anticipate that blockchain will become the default place to issue shares for most companies in the world within 5–10 years.

How would you explain the current fame behind ICOs? Where do you think it is going?

What’s happening at the moment is very similar to what’s been happening to internet companies in 1998. People saw the potential and everyone is trying to get in. Not every dot com has become an Amazon, but it does not mean that there are no next Amazons among ICO’s that are happening now. I expect the market to get more sober and mature within a year.

Who are your main clients right now? What do they do with your services for?

We are talking to a very wide variety of clients, ranging from fishing companies to AI-managed hedge funds. We are trying to select the highest quality ones with the highest odds of successfully multiplying the investments.
Ambisafe is normally responsible for all matters related to blockchain, smart contracts and logistics of the ICO for each of our clients.

Can you tell us about success stories?
Yes, some of our success stories from earlier:
  • Chronobank — an Australian startup, that have raised $6M to build a decentralized recruitment platform.
  • Taas Fund — One of the first cryptocurrency hedge funds, raised by a group of professional traders.
  • Polybius — An Estonian company, that have raised $33M via an ICO to build a blockchain-based bank.
  • Propy — A global real estate title registry and marketplace, that is launching an ICO on Aug 15.

More about Ambisafe

Ambisafe is a pioneer of blockchain technology and provides a wide set of services, related to blockchain-based financial markets. Learn more at ambisafe-financial.com

PARISOMA provides freelancers and early-stage companies with the space and tools they need to support their business.