Interview with Mauro Casellini of Bitcoin Suisse: Tether I see as a big risk in the market

Bitcoin Suisse already exists since 2013 and is an integral part of the so-called Crypto Valley. The train, Copenhagen and Liechtenstein-based company was significantly involved in the construction of Blockchain sizes such as Ethereum Foundation or Tezos. In order to learn from this experience in the market, we met with Mauro Casellini, CEO of Bitcoin Suisse (Liechtenstein AG), for an Interview. This Interview appeared in our September issue of the crypto-compass.

By Sven Wagenknecht
28. September 2019BTC$8.319,94 , and 0.61%part Facebook Twitter LinkedIn xing mail

BTC-ECHO: you have one of the first crypto-enterprises witnessed the rise of the crypto-Economy from the beginning and dominated. How would you describe the stage of development that we currently find ourselves in?

Mauro Casellini: For this question, I am referring to the Gartner Hype Cycle, in which the Blockchain technology is in the Transition from the "peak of inflated expectations" to the "valley of disappointment". I see it in person due to the events of the last weeks and months similar. Many companies and Blockchain Enthusiasts note that the Blockchain is just not the remedy for every Problem and many of the ICO-Hype-ideas are not feasible. In turn, other Use Cases emerge on the other side, which are successfully implemented and a value. Here one can mention, for example, TradeLens. A collaboration between Maersk and IBM, which illustrate the process of container shipments on the Blockchain, and the process substantially, and were able to optimize. It is currently a very exciting time, the reveal in the next Phase of the Hype cycle (path of enlightenment), many of the projects and the existing financial market structure will change considerably and, above all, is to optimize.

BTC-ECHO: Your company name Bitcoin Suisse is. How relevant Bitcoin is for you and your customers at all?

Mauro Casellini: the origin of The Name is due to the fact that it was in 2013, in addition to Bitcoin, other crypto-currencies. But even today Bitcoin is the largest crypto-currency and is very important for us, as we deserve, among other things, as a Broker, our money. If you look at the current crypto-market, we see a dominance of about 70% according to CoinMarketCap (20.08.2019), since March, 2017. This shows very clearly the importance of BTC and how big his role is in the market.

BTC-ECHO: What specific Bitcoin projects?

Mauro Casellini: A very exciting Bitcoin project is from my point of view the Lightning network, which includes as a Second Layer of payment system that is currently the equivalent of around 8.5 million US dollars (gem. Defipulse.com). Here, we might as well come to another exciting project in the Blockchain-the world: Decentralized Finance, or short #DeFi. Currently, especially Ethereum with MakerDAO, Ox and Uniswap are very well known for.

In the case of Bitcoin also a lot going on here but. As another project is surely to call Rootstock, which pursues the goal of Smart Contracts for Bitcoin-to make the network usable and to allow at the same time full compatibility to Ethereum. Thus, Rootstock followed the target, which is considered by many to Bitcoin maximalists as a final solution. It attempts, successful Use Cases from other projects on the Bitcoin Blockchain to represent.

BTC-ECHO: do you See Bitcoin as a store of Value in the sense a digital gold, or as currency?

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Mauro Casellini: The Definition of a memory is very special. Something has then the function of memory, if many believe that it will be a long time is valuable. Gold is considered without a doubt as a Store of Value, on a desert island without food Gold is not worth much. So it depends on some factors, whether something is actually a sustainable store of Value or not.

I personally see Bitcoin as a "Store of Value", i.e. as a store of Value. The Parallels to Gold as the most famous store of Value are very clear. It is, among other things, the limited quantity, the time-consuming Mining and trust in the System, which is ensured by the technology behind Bitcoin.

Often the current volatility of Bitcoin is identified as a negative aspect, which is the value of memory is very inappropriate. This is from my point of view, but especially so, because the critical mass of users has not yet been reached and is only a short - to medium-term Problem.

in Turn, some of the advantages for the value of storage compared to the Gold available. So Bitcoin can be transported easier, regardless of boundaries and guidelines is to be postponed and also not be confiscated. Gold can be seized, other assets much easier. With Bitcoin, we are excluded here, but this is a risk, which can lead to the fact that Bitcoin could be the greatest memory in the history of mankind.

BTC-ECHO: do you Think that the Bitcoin's dominance will continue to increase?

Mauro Casellini: in the Short term, I think that the dominance will continue to increase. Many of the listed projects on CoinMarketCap does not deliver to what was promised for a Long time. In addition, it is worth mentioning that between the Token Value and Token Economics is often no direct connection exists, and therefore "successful" projects a worthless Token can have.

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the closer to the rear end of the Halving is in may 2020, a further factor that ensures that BTC will be even more exciting. In the medium to long term, but I hope also on other projects, the gain in market share. At the latest with the Use Case of the Tokenization other digital Assets will be created, the market can take over shares in favour of BTC.

BTC-ECHO: How many of the Utility-Token-projects in the current Top 100 will be in three years?

Mauro Casellini: The basic question is, whether it is Utility Token to represent the value of the project really is and can represent. It is important to note that the Token Value is, unfortunately, often in direct connection with the project itself. I am voted to a majority of the projects in the Top 100 very critical and expect to be here often no more value and, therefore, in the next few years, the raison d'être of some of the tokens will disappear.

BTC-ECHO: What are the three biggest risks that you measure the current for the crypto-market open are?

Mauro Casellini: Tether (USDT), regulatory constraints, critical mass. Tether I see as a big risk in the market. It is possible that USDT is blocked (lock up function), or otherwise unusable. It would likely be followed by a cascade of activities. This could lead to massive, ecosystem-wide damage to the entire crypto-market. Next, the question of how in the longer term, it will be dealt with, that USDT is currently deposited only 74 percent effective with USD in the Tether.

Regulatory restrictions could lead to a trade with crypto currencies and digital Assets, restricted, or regulator not be allowed. Not, however, assume, as the regulators in the majority who are to regulate the Whole and not to block.

A further, often neglected is the risk I see in the critical mass. As long as no critical mass of participants in the System, and also active Services on the Blockchain offers and purchases, respectively, will not enforce the technology. But I am convinced that with the right Services and increased user-friendliness of the participants in the System will increase and the critical mass quickly can be achieved.

BTC-ECHO: you've also brought a Stable Coin with Swiss-franc cover. What is the nature of the so-called crypto franc and how your coverage?

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Mauro Casellini: The crypto franc (XCHF) is a classic Stable Coin, which is directly connected with the underlying Asset. In our case, of XCHF for the cover to be 1:1 with the Swiss franc is guaranteed. The Token will only be issued if the equivalent value is received in CHF. On a monthly Basis is created by the external Audit company Grant Thornton Report, the 100-percent coverage of the XCHF Token with the underlying Swiss franc confirmed. This Report is publicly available at any time. The owner of XCHF always have the transparency that your XCHF tokens also have the designated value.

BTC-ECHO: Facebook has chosen Switzerland as the jurisdiction for your cryptocurrency project Libra. What were in your opinion the decisive reasons?

Mauro Casellini: The Libra Association is an independent, non-profit organization with headquarters in Geneva. For NGOs, openness policy, political stability and neutrality are very important factors, which apply in Switzerland for all. Especially in the field of Blockchain technology, Switzerland is set to very positively and also on the part of the Federal Council supported this technological development. In addition, has been elected to Geneva, from my point of view the ideal location. Because the UN, as well as the research institution CERN is located in Geneva.

BTC-ECHO: What is your personal opinion on the project? It will have a positive effect on Bitcoin & co.?

Mauro Casellini: For me, Libra is a more exciting Use Case, which raises many technical, regulatory and operational issues. We assume, however, that Libra is actually implemented, and thus a kind of "Corporate Currency" will be created, then I see for Bitcoin & co. a very positive effect. Firstly, the issue of Libra is raising the awareness of the people for the issue of the Blockchain and thus simplifies the access to new potential customers. Secondly, Bitcoin fulfills many aspects that can not be meet in Libra through the Setup chosen, such as, for example, decentralization and completely of national currencies loose value development. Bitcoin and Libra fulfill very different tasks, and will be, in my view, no direct counterparty, but rather complement each other. While in the classical Fiat-System, many investors invest in Gold as a store of value system, with the digital Cash "Libra accept" Bitcoin, the same task of the "Store of Value".

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