We caught up with Dmitry Buriak, CEO of Cryptaur as we dissected and sort a better understanding of his company’s project.
Hello Dmitry, what is Cryptaur all about?
Cryptaur is about removing middlemen from all “pores” of our society. Primarily, from the economic activities people are involved in both as consumers and as suppliers. The ultimate goal of this strategic imperative is to eliminate all unnecessary costs along the supply chain.
What inspired the Cryptaur idea?
For years I’ve been thinking of how to make trade transparent in terms of a product’s properties and its actual price structure. Particularly in the field of wellness where consumers buy something that directly affects their health and wellbeing. In fact, I’ve been managing quite a number of businesses that used the direct sales approach in one way or another. But it is the arrival of e-commerce, and even more so of the blockchain technology, that finally makes it possible to implement without limitations.
Why the Ethereum blockchain and no other blockchain and will the project look to incorporate or even entirely move to another blockchain in the future?
At the moment we started to work on the project, Ethereum seemed and really was best suited to our requirements. But we are not dogmatic about it. Blockchain is a tool for us, not a fetish. Moreover, Ethereum as we know it today really leaves much to be desired in terms of transactions processing speed and processing costs, let alone the PoW protocol as such that, I’m sure, is bound to wither. So, in the future we might well consider an alternative. Or stick to Ethereum for that matter if they manage to address the existing challenges.
Can you touch on the CPT, CPP, SCMS and URPS features of the Cryptaur ecosystem?
Yeah, sure. CPT, very simply, is the symbol of our Cryptaur token. CPP stands for Cryptaur Payment Platform—a fiat-to-crypto fintech bridge to handle all internal and external transactions for our ecosystem. In fact, the core of this platform is already in place and will start accepting “old school” payment forms, such as credit/debit cards and bank transfers, from our contributors already in February.
SCMS means Social Capital Management System. It is essential to Cryptaur as we intend to implement a system of rewards and incentives for users to behave in a way that would be beneficial to other users and the ecosystem as a whole. Let me give you a simple example. An honest product review left by a consumer will result in a token reward.
URPS is our User Rights Protection System. Each big social system, which Cryptaur with its 70+ thousand people already onboarded certainly is, will inevitably face disputes among some of its users—consumers and suppliers alike. That is why it is important to us to make sure we have rules and their implementation mechanisms, or institutions, in place to minimize the risks of all interacting parties. An example of such a mechanism would be the requirement for a supplier to keep a reasonable safety deposit being inside the trading platform as a guarantee their consumers’ losses could potentially be covered should something go wrong through that supplier’s fault.
Which exchanges will be trading CPT tokens?
This is yet to be determined. We’re being in the process of negotiations with some major exchanges. But we still have time to make a good choice as our roadmap stipulates the start of free trade in April 2018.
Briefly run us through the process of your token sale.
We broke all the industry stereotypes and designed a pulse-like ICO calendar consisting of four stages, each lasting for about 10 days with intervals between the stages. This enables us to demonstrate to our contributors some real progress of the project and thus gradually raise their confidence and trust in it. At the moment we are half-way through our ICO. Two stages are already over, two stages remain. Stage Three will be from February 12 till February 20. And the final Stage Four will occur between March 5 and March 12.
Thanks Dmitry, We are grateful for your time.
Thank you too guys, you have been amazing.
For more details, follow the Cryptaur ICO here.