James Toh, Coinstore’s head of business development, shares the journey and role of Coinstore as they continue to serve over 7 million registered users with 500 global projects. They aim to improve on their product and service to provide better user experience while maximizing user profit.

What made you interested in Web3?

Web3.0 is considered to be the inevitable trend of future development of the Internet, and its advancement is quite optimistic. Web3.0 can completely change the model and architecture of the Internet, and realize an intelligent, trustworthy, and decentralized Internet, thus bringing more new business models and applications. This is also why traditional internet giants are transforming to Web3.0.

In terms of cryptocurrency, Web3.0 will provide a decentralized transaction model, and can achieve seamless transactions. In terms of decentralized finance, Web3.0 brings more efficient, transparent, and fair financial services, giving customers a better financial experience. In terms of smart contracts, Web3.0 will automatically execute smart contracts, thereby improving the credibility and efficiency of contract execution. These are all what I am pursuing.

How is working/building in Web3 different from other industries?

A major feature of Web3 is its openness, many teams allow work from home. At the same time, under the characteristics of open source co-construction, everyone can become a contributor to the project.

Different from the standardized Web2 industry, Web3 belongs to a stage where everyone has to explore by themselves. Explore new ideas, new projects, and even the working flow. Many people find themselves clueless after joining and become mired in self-doubt.

Web3 has a lot of geeks and Crypto enthusiasts. With the joining of more and more people,the industry is destined to have a prosperous future and become a decentralized network.

What’s your proudest achievement in Web3?

I am glad to join Coinstore in its early development. I have been witnessing the growth of the huge organization. Coinstore is a rising star, always learning, reverent to the industry, and belongs to the role of challenger. For the past two years, Coinstore has been quietly working on its product and technology to provide users with a secure and fast trading platform.

Since our spot system was launched in 2021, it has served more than 500 global projects with more than 7 million registered users. Based on these figures, Coinstore has also become one of the fastest growing trading platforms in 2024.

I am so glad to grow together with Coinstore and build an outstanding global BD team.

‍If there’s something you would like to change in your Web3 journey, what would it be?

I hope that Web3 can derive various applications as soon as possible; break the monopoly of Internet giants and return information to users. Web3.0 will definitely not be dominated by a certain country or a few companies. Web3.0 should lead us back to the form that the Internet originally pursued, which is an open, inclusive, and decentralized network form without barriers. There is no monopoly and no one will be bullied by companies. It is the third technological revolution of the Internet that promotes human progress.

Crypto is a great invention of the 21st century, and I hope to join this wave earlier.

What’s the biggest problem that you think Web3 can solve?

I think it is a payment problem. Cryptocurrency payments have come a long way, which includes the creation of Bitcoin, altcoins, stablecoins, and eventually central bank digital currencies, which are now used as a means of payment. As of 2022, Bitcoin is the most popular cryptocurrency used for payments and transfers in the business environment. It is followed by the altcoins Ethereum and Doge.

Bitcoin payments are incredibly cheap. Depending on the blockchain used, the transaction fee can be less than one dollar, which is an important criterion for many companies for mutual settlements. While bank transfers can take days depending on the day of the week, Bitcoin payments are instant, and crypto transfers are much faster than bank transfers. This demonstrates the high technological base on which blockchain technology is built.

In addition, in countries where there are no credit card systems, crypto payment is becoming another choice.

What’s your BTC price prediction for 2030?

It’s hard to predict, but the price will be changing in a positive way. In retrospect, within half a year to one year after the halving, BTC is very likely to start a new bull cycle.

Another thing is, the expectation of a rate cut by the Federal Reserve is positive to Bitcoin. Since Bitcoin is a risky asset rather than a safe-haven asset like gold, expectations of a rate cut by the Federal Reserve usually increase investor interest in risky assets. This will be reflected on the price.

In a word, Bitcoin will never disappoint a long term holder.

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