Interview with Key Globitex Advisor Carlos Blanco, Risk Analyst and Financial Modelling Expert.
Globitex, the institutional Bitcoin exchange co-founded by Jon Matonis, aims to drive deep liquidity into the Bitcoin ecosystem, facilitated by the GBX token. Globitex team’s vision is of an exchange suitable for spot and derivatives trading using Bitcoin as the unit of account - expanding the utility of the cryptocurrency and fulfilling its potential to be the currency for global trade and settlement.
Thanks for your time Carlos, you are a pretty busy guy if your bio on the Globitex website is anything to go by. In which segment of the financial industry are you currently working and what do you specialise in?
I have worked on financial risk management for energy and commodity portfolios for the last two decades. My work has involved working with software firms developing market risk models, providing advisory work to some of the largest energy, commodity and investment firms worldwide, and conducting research and education services.
Why did you decide to join the Globitex project?
I share the Globitex founders’ vision that the Globitex exchange can create an important cryptocurrency-based money and commodity derivatives market. In addition, I have had the pleasure to know and work with some of the leaders of Globitex for many years and I am looking forward to assisting their team in this exciting project.
Going forward, what do you see as the most important issues to overcome for a project of scale such as Globitex?
I see two sets of issues. On the internal side, building an institutional grade derivatives money and commodity markets that will settle in cryptocurrency will require creating a robust infrastructure and solve important challenges along the way. I think the Globitex team has a proven track record and the capabilities to deliver on that front. On the external side, many market players are waiting for greater regulatory and legal certainty. From its inception, Globitex is attempting to work within the existing regulatory framework to minimise the risk for industry participants that will be using the Globitex exchange.
What are in your view the most important features for Globitex as a commodity spot and derivatives exchange that should be implemented in the first place?
For Globitex to succeed, it is essential to bring liquidity in the contracts that will be offered through the exchange. Development priorities should have that clear goal in mind. Globitex should aim to become the go-to-place for cryptocurrency-based global commodity trading.
Do you see a potential market demand coming from the traditional trading industry for the cryptocurrency money markets and commodity spot and derivatives products that Globitex is planning to realise?
Yes, but I see that happening gradually. The traditional trading industry is waiting for more regulatory certainty and once cryptocurrency-based exchanges develop, they will become an alternative trading mechanism that will complement the existing organized and OTC derivatives markets.
Do you think Bitcoin could one day be used as a widespread unit of account and a medium of exchange, not only for large international trades and trades on exchanges as Globitex, but as a true peer-to-peer currency universally accepted across the globe?
A peer-to-peer currency universally accepted across the globe will bring greater efficiency to global trade. The peer-to-peer open-source-based distributed framework that supports the Bitcoin ecosystem will be the foundation of the alternative payment system to the traditional one dominated by financial institutions. If it’s not Bitcoin, another cryptocurrency or currencies will eventually become mainstream.
The GBX token public sale will start on 8 November and last for one month, or until 72 hours after the soft cap of GBX 500 million tokens is reached. Tokens will be sold for the equivalent of EUR 0.10 in XBT, ETH and BCH, with early investors receiving discounts.
Read their whitepaper here.