BT Money Hacks Ep 98: How to start a crypto or blockchain-based business
Synopsis: Every first and third Monday of the month, The Business Times breaks down useful financial tips.
This week’s episode looks at what it takes to start a crypto or blockchain-based business. Understand the foundational technology of crypto in this episode, which is brought to you by Withers KhattarWong.
BT’s digital editor Chris Lim hosts Pang Xue Kai, co-founder of Tokocrypto, a cryptocurrency exchange based in Indonesia.
He explains the following:
- What were the key challenges when starting a cryptocurrency exchange? (1:12)
- Key challenges faced when starting Tokocrypto in Indonesia, and common challenges overseas (2:10)
- Being compliant or even overly compliant, to legitimise a crypto exchange and make it mainstream with formative legal regulations (2:42)
- Key factors you need to know to start a crypto or blockchain-based business in emerging markets (5:05)
- Relating better to the local people of that market: In Indonesia, how showing that cryptocurrencies has characteristics similar to “digital gold” worked (5:38)
- Six steps of advice for listeners looking to start a cryptocurrency exchange or crypto-based business (7:35)
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