Interview with DAEX (DAX) ICO Team

DAEX ICO

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History or Background of Project how it started in first place?

DAEX (Digital Assets Exchange) is a distributed digital asset clearing ecosystem built using a blockchain-based multi-asset clearing and settlement protocol. By decoupling assets and transactions, the system will provide exchanges, corporations and individuals with a full range of clearing and wallet solutions which address key issues in the digital asset ecosystem, such as credibility, availability and the security of their digital assets. In this way, the ecosystem will protect the interests of investors while promoting the fair and stable development of the industry as a whole. Key DAEX partners include Qtum Foundation, 8 Decimal Capital, DFJ Dragon Fund, IDEL, J One Capital, JRR and various other prominent investment organizations.

The project was established after Benjamin Gu, the Chairman of the Global DAEX Foundation, realized the potential of distributed ledger technology and how it could be used for clearing cryptocurrency trades. Centralized exchanges are the most common types of exchanges used for cryptocurrency trading, although they lack transparency when it comes to clearing trades and storing their customers’ assets. Exchange hacks have been a common event in recent history, and hackers have successfully stolen large sums of cryptocurrency from several exchanges such as Mt.Gox, Coincheck, Bithumb and Coinrail amongst many others. A change in the centralized exchange infrastructure is required in order to prevent these type of attacks from being reoccurring.

What technology issue DAEX will solve and how?

Exchanges that are part of the DAEX ecosystem will not be responsible for storing their customers’ assets or clearing trades. The DAEX Clearing Chain will record all clearing information in a secure environment by utilizing distributed ledger technology and smart contracts. Traders who are part of the ecosystem will be able to access the DAEX Wallet. If a newly established exchange is part of the DAEX ecosystem, all existing traders who have access to the DAEX Wallet (by completing the DAEX registration and KYC process) will be able to access that exchange and any other exchange in the ecosystem seamlessly. Currently, if a trader wants to use multiple exchanges, they must go through a user registration and KYC process for each exchange independently — this is tiresome and inefficient for traders. Then to access and use the services of each exchange, they must log into the websites or applications separately. Therefore, by utilizing the DAEX Wallet as a link, the customer acquisition process for exchanges will be more efficient than what exists today. Traders will also be able to earn DAX token rewards, as they will take part in the clearing ecosystem.

Who is Behind the Project?

The DAEX team includes professionals from both the traditional financial industry and the blockchain sector. With expertise from both industries, it makes a great match as it aligns with the scope of the project.

Below is an overview of the core members:

Foundation Chairman: Benjamin Gu

LinkedIn: https://www.linkedin.com/in/benjamin-gu-953548/

Benjamin has extensive experience in Chinese and US financial service and enterprise software companies. He worked at Hua Tai United Securities for more than 5 years as associate CIO, where he was responsible for building industry-leading investment bank support systems. At Options Clearing Corporation, he worked directly on the development and operation of ENCORE — the system used in the US for options clearing. He holds an MBA from the University of Texas in Austin, an MA degree from the University of Notre Dame and is a master graduate from the University of Science and Technology of China.

With a strong background in clearing and settlement processes for the securities market, Benjamin realized the potential of blockchain and DLT for the digital asset market. This is what encouraged him to form the Global DAEX Foundation and kick-start the DAEX project.

Chief Architect & Co-Founder: Jason Tang

LinkedIn: https://www.linkedin.com/in/jason7tang/

Jason has been focusing on Fintech product design and application research for several years. He is a former product manager in China Zheshang Bank Fintech Application Research Center. In this role, he took charge of the first blockchain project that was implemented into the core systems across all domestic commercial banks. He was also involved in the first enterprise accounts receivables platform based on blockchain technology.

Listed below are two blockchain patents he holds in Mainland China:

– System and methods for blockchain key management

– System and methods for improving blockchain querying efficiency

Jason also holds a master degree in software engineering and a bachelor degree in electronic information engineering from Zhejiang University.

Co-Founder: Hana Zhang

LinkedIn: https://www.linkedin.com/in/hua-zhang-76818129/

Hana Zhang is an investor of several exchange platforms and is an initial member of IDEL (International Digital Economic League). She has been an entrepreneur in blockchain and digital assets since 2014. She is also regarded as an opinion leader in blockchain applications and technology development for digital assets trading. At ViewBTC, she provided sophisticated consulting services to blockchain and cryptocurrency startups. After seeing the current problems of centralized models for digital asset trading, she knew there was a need for a decentralized approach to serve as a solution. This is what encouraged her to co-found DAEX.

Wallet Architecture Scientist: Stone Zhou

LinkedIn: https://www.linkedin.com/in/stone-x/

Mr. Stone Zhou has more than 10 years of internet project management and development experience. He has a full stack development background and is a wallet architecture expert for digital assets.

Brand Strategy and Marketing: Lois Shen

LinkedIn: https://www.linkedin.com/in/bingliu-shen-47677b104/

Lois has several years of experience in business development and marketing roles for Fintech and SaaS enterprises. She is a former senior business development manager at Tencent, where she won the award of “Most Outstanding Employee” in 2014. In this role, she was responsible for forming strategic partnerships for WeChat Pay/TenPay with other Fintech enterprises. She has also helped several Fintech clients enter the App Store with a top 10 ranking.

Cryptographic Algorithm Engineer: Victor Sun

Dr. Sun is proficient in a variety of cryptographic algorithm and security protocols. He holds a doctoral degree in Information Security from the Institute of Information Engineering at the Chinese Academy of Sciences. He has been involved in several extensive studies relating to the field of quantum cryptography. Dr. Sun will contribute to the DAEX project greatly, by applying his expertise regarding cryptography and consensus mechanisms.

What gives Token value?

The DAX token is a utility token that will be used across all exchanges in the DAEX ecosystem. Traders who own DAX will be able to securely record and validate transactions in a transparent environment. Whether it is paying fees related to clearing, asset settlement or trade matching, they will not be limited to a single exchange. At first, cryptocurrencies will be the digital assets used for clearing and settlement, and at a later stage derivatives will included in the ecosystem.

What is the near future predictions?

DAEX have already entered the Australian, Korean, Indonesian, Singaporean, Russian and Thai markets and will continue to expand throughout the rest of 2018. More details about our recent partnerships can be seen on our medium page: https://medium.com/daex.

What is the probability of listing of token in exchanges?

To date, DAX has already been listed on LBank, Tokenomy, SEADAX, Allcoin, BCEX and INDOAX.

How it’s different form all those scam projects in market?

Currently there are no competitors planning to provide a clearing solution for cryptocurrency trading. We are the first and only project to be engaged in this solution.

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