Much has been said lately about Bitcoin and all the fuss related to it. The media is full of Mt.Gox news after their spectacular bankruptcy with 600′000 Bitcoins lost. Amidst this noise we should remember that Cryptocurrency is not any…
Much has been said lately about Bitcoin and all the fuss related to it. The media is full of Mt.Gox news after their spectacular bankruptcy with 600′000 Bitcoins lost. Amidst this noise we should remember that Cryptocurrency is not any particular development or business. Cryptocurrency isn’t Bitcoin or a fallen exchange. I think Cryptocurrency is an idea rooted in freedom. It’s had a bad reputation from the beginning when people thought of it as a “secret money” to buy illegal things. After a few years, though, it seems like more and more people are starting to notice its utility. In fact, all of the media noise that has appeared recently, be it positive or negative, might just be a telltale sign that the rise of cryptocurrency is inevitable.
The great economist and Nobel Prize winner Milton Friedman, speaking many years before Bitcoin appeared, said these prophetic words: “I think the internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing but that will soon be developed is a reliable e-cash.” At the moment it seems popular belief is that Bitcoin is in late stage of a tragic downfall, but my opinion is opposite. On the contrary, it seems to be in a very early stage of inception and yet only a few choose to acknowledge this. For example, BTC.sx is expanding rapidly and an Australian Bitcoin company is launching a project to deploy hundreds of Bitcoin ATMs. Sure there have been a few industry problems, but with the amount of expansion that is going on simultaneously it doesn’t sound like a downfall.
In a world of lost confidence, persistent money printing and progressing devaluation, the idea of cryptologically secure currency with limited supply is very tempting for the masses who have lost faith in the traditional banking system. As other Noble Prize winner, Al Gore said: “Regulation of money supply needs to be de-politicized”. Every time you open your morning newspaper it becomes clearer that when bankers play with money, guy getting hurt in the end is always the “Average Joe.” Let’s not forget that even in the age of internet and fiber optics our banks somehow still manage to maintain horrible charges on international money transfers that still take several days to be proceeded. BTC is a lot easier and cheaper to move, creating the impression of the perfect medium of value.
Throughout history we can see many examples of inventions that haven’t had the warm welcome they so much deserved. For example, Western Union rejected the telephone in 1878 as having “too many shortcomings to be seriously considered as a means of communication.” – said company in its memo. In 1977, chairman of Digital Equipment Corp., Ken Olsen, stated: “There is no reason anyone would want a computer in their home”, but 30 years later it was hard to find home without one.
But what if Bitcoin were to really collapse? What would happen to the whole idea of cryptocurrency? My guess is ‘nothing’. The idea is about survival as Auroracoin proves. This probably is a next step in cryptocurrency world – a government using it for sake of its own people. Personally, I have no doubts that we’ll see many (positive) surprises with cryptocurrency and that the inception process is going on now.
- Denis Borisovsky, PFSOFT CEO
When I started PFSOFT 10 years ago I had some IT knowledge, a few friends, and head full of dreams. I didn’t think that after 10 years my company would have such a high ranking in the financial software industry,…
When I started PFSOFT 10 years ago I had some IT knowledge, a few friends, and head full of dreams. I didn’t think that after 10 years my company would have such a high ranking in the financial software industry, occupying 3 offices on 2 floors of a beautiful building, employing almost 50 people and dealing with big financial institutions. During this time we have reached clients from all regions in the world. We’ve expanded and opened a small office in Hong Kong to better support our Asian clients. In addition to the Hong Kong office, we have specialists working with us in Turkey, Poland, USA.
Last year was the best year in PFSOFT history. We introduced our platform to several promising clients and successfully organized a trading championship with one of them. We gained great experience in dealing with our partners, customizing our software for them, and listening to their needs. We do not just sell a box solution. Establishing good, constant contact helps us create a relationship based on reliance. Mutual support is the essence of our business approach and integrity also proves to be indispensable.
I believe one of the most important keys to our success is taking care of the team. My team consists of around 50 people and was carefully selected over the last 10 years. I am proud to introduce Western corporate standards in PFSOFT. We are one of the few employers in Ukraine who offer free medical support to employees and their families. Our offices are designed to be friendly since we spend lot of time there. We provide our employees with professional literature, family atmosphere or places to rest – play, workout, have a massage, drink or eat. Our team is 3rd place among IT Companies in employee satisfaction ranking for Dnipropetrovsk. Moreover, we have a sense of social responsibility which allows us to fund awards in sports competitions and sponsor IT Conferences in Dnepropetrovsk like ITEM 2013.
Having accomplished so much I am still looking for more, feeling that we are a fully grown-up business ready for the greatest challenges. Although we need to cultivate our existing successes, there is still a lot more to achieve. Just a couple months ago we released our newest product – an advanced trading platform designed for professional use. But it’s not like it appeared out of nowhere. Protrader 3 is a result of 10 years experience in trading software development and cooperation with dozens of clients on a regular basis. We’ve been working very hard, learning, and improving at the same time.
We have very ambitious plans for 2014. Several institutions have already inquired about the possibility of implementing our software into their businesses. There were both big and small players from financial industry. It looks like our journey is just beginning. We would also like to open several new offices across the globe – especially UK and India – to stay in better contact with the constantly growing number of institutions that put trust in us. Year 2013 was also the beginning of our B2C project – Protrader.com – which is aimed at building a community for traders focused on our products where they can describe their experience and discuss their ideas.
2014 will be even better. I’m confident because I know that we’ve got everything that’s needed to succeed.
- Denis Borisovsky, PFSOFT CEO
Here’s a view of how 80 people in 3 offices at PFSOFT headquarters work on a normal day. For them it’s all about having new ideas and having fun accomplishing them. It’s also good to play table tennis or football…