User

Alex Povolotski

@alexpovolotski

Network61
Thanks56

I've been developing partnerships with JP Morgan Chase, selling for Moneris, and nurturing a book of clients with RBC Royal Bank, amongst many other interesting things.

Well travelled
Self-motivated team builder
Go-getter Business development leader
Partnerships champion
double MBA
Tri-lingual intellectual
... and all-around good fellow.

Specialize in:
Financial services and Non-profit organizations
Business Development and Account Management

Toronto, Canada Area

Rōnin of payment processing

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payment processingacquiring banksblockchaincryptoethereumerc20tokensmart contractcryptocurrencyicowhitepaper

Answers by Alex

What is holding back institutional acceptance of blockchain technology?
Technologically nothing. Blockchain as a concept was described in an IBM paper back in the '90s.
Establishment and politics hold it back more than anything else. The banks are used to do things their centralized way and have made a fortune doing so. The governments are used to controlling money flows too. blockchain distlrupts both of those dogmas.
Are there blockchains to store distributed data like files and videos?
Blockchain is simply a distributed decentralized ledger where each block represents one transaction - debit or credit. A block stores only text data about the transaction and some crypto elements.
We're launching a common ICO evaluation framework on HelpTap for everyone's benefit and will be reviewing and ranking each ICO based on predefined variables and scoring algorithm. Good idea?
Yea, it would be a wonderful idea as there are no congestive sites out there that evaluate ICOs on a common basis.
Can the blockchain technology can be used to create organizations which can directly or indirectly impact the environment or climate change in a positive way?
Blockchain is nothing but a chain of individual blocks. A block chain. Each block is nothing more than a record of debit or credit. A record of transaction in other words. How much sent from where and to whom. That's it. And a chain is a set of such journal entries.
How do I set up a crypto wallet?
It's very easy to do. Go to the cryptocurrency of your choice website and they list the wallets they suggest. You have two choices - hard wallet that runs on your computer and soft wallet that runs on their servers. For example, you go to Bitcoin website and they recommend a few wallets there. An alternative is to go to a crypto-exchange (i.e. Coinbase) and you can get a wallet for the currencies they trade also.
Hi guys and gals, what crypto currency exchange can you advise me for my crypto trading?
There are many out there. Depending on which currency pairs you want to trade. Coinbase is the most popular.
What does the company issuing coins in an ICO have to do with the money?
A company or individual issuing coins or tokens have nothing to do with money. People issue coins mainly for two reasons - to test coin and their ability to work on blockchain, or to convert those coins or tokens into viable currency, to raise funds for their project. Another alternative of coin creation is to make a market for it - for gambling or drug purchases, and other uses where the coin could be used as a form of payment instead of fiat currency.
That's exactly right. You got it!
ICO is same as limited share offering to private investors. No different really besides no ownership changes hands during ico.
An ICO is effectively another way to crowdfund .
No. They are few and far between and most of them are already engaged with their own projects or gainfully employed for others' projects. You need help with your ICO? Contact me directly then. Find me on LinkedIn Alex Povolotski
Best ico running now
AAA coin no doubt. But I'm biased of course :-) http://aaacoin.us
Can I create new crypto currency on Ethereum block chain? If so can it be mined or private?
Yes, you can create a fork of any publicly available block Hain and mine the first genesis block privately.
I'm looking forward to launch an ethereum based ico for my new start up! Anyone interested join me in this venture?
How much budget do you have? Do you intend to pay the participants who will work on your ICO or volunteer?
I'm already engaged in paid projects and won't have time for an unpainted volunteer position. Thank you.
For an ICO, can we first get private investors for a 5% token ownership at a particular price, then hold a pre-ico at a slight higher rate and then an ICO for the public with an increased price?
Absolutely! If you are the owner of the coin or tokeb, you can do whatever you want and structure it accordingly. Your idea to have a limited offering to qualified investors first and then pre ICO and then ICO is the way to go. You're on the right path.
What if an ICO reaches its soft cap lets say at $500,000 and collects a total of $750,000 while the hard cap is 1 mil. So will the ICO get $750,000 or $500,000 while the rest is refunded?
If you are the ICO initiator and owner of the coin or tokeb, you can do whatever you want. ICOs are unregulated. You can either move a soft cap or continue selling, as long as the supply of coins or tokens s is not exhausted.
So all a team has to do before an ICO is to make a smartcontract for the token and the crowdsale only? After they have raised enough capital after an ICO, do they than work on the MAIN smart contract
You are correct.
Are tokens with voting rights considered as securities?
Depending on jurisdiction. Remember, there are more than 250 countries in the world. Most of them don't treat tokens as securities. Few issued warnings but still treat them on a case by case basis.
Decided to launch our token generation event on Stellar instead of Ethereum, Currently looking for blockchain developers familiar with Stellar. If you are interested, please send me a private chat
There is no private chat function here.
I plan on conducting a private investor round for our ICO. Is it necessary that I have to deploy smart contracts for this too?
Not at all. You can issue tokens / coins in return for investment - that's it.
Do companies, ICO on ERC20 and later when they have their own blockchain developed transfer the issued token to new blockchain?
You can't transfer things from one blockchain to another unless the coin is freely exchangeable. For that you need it listed on exchange, which is an animal in its own. So, either issue coin on your own blockchain to begin with or using existing blockchain. What's the point in exchanging? It complicates things enormously.
Do the buyer and the seller in a smart contract have to OK the deal by using a digital signature or just by confirming it through a button?
Whatever you want. It's going to be your thing. Nothing HAS to be this way or that way. It's totally unregulated. A simple BUY button will suffice. If you want to complicate things, you can make them sign a contract before buying a single token - up to you.
What regulations should i need to be aware of if a user wants to cash out his token through the exchange? Eg if a user is in Singapore, and he has a digital token he wants to cash out through an excha
None. It's the user's and the exchange's dilemma, not yours.
No. The issue is between the owner of the coin who bought it and the exchange.
where to promote my ico , is there any site list, sorry I am totally new in this field so need help
Yes, there are plenty of sites promoting ICOs. Just google list of ICOs or ICO listings. Most of those sites want you to pay them to list your ICO. The effectiveness of such listings are minimal though. Better spend that money advertising through social media.
Ask Alex for help