This is an article transcribed from a podcast recorded by Crypto Current. You can also listen to the below YouTube video which was converted from the podcast.
[Richard] Hello everyone. Welcome to another episode of Crypto Current. Your host here, Richard Carthon, and I got a special guest with you all the way from Singapore, working on a extremely cool project. We have Mr. Yu Yamanaka. Thank you so much for joining us today.
[Yu] Thank you for the introduction, Richard.
[Richard] Of course, I'm glad you could join us. But I mean, you're working on a really cool project, Libertypool. But before we jump into that, can you just give us a little bit more information about yourself and give us some background?
[Yu] Okay, I am from Japan, now I live in Singapore. I just moved to Singapore from Japan a year and a half ago to start this business. I started my business career in 2009 as a software developer. My first company was a enterprise security company. I worked for them for six years. Then I worked for one of the largest media for women in Japan. Then I worked for an AI startup specialized at deep learning. Then in 2016 I entered the blockchain market, blockchain industry, as the CTO for a company that's called Starbase.
Starbase, okay, cool.
Yes, it's Starbase, yeah.
Well, actually, so let's stay there real quick. So you have a lot of experience with working on startups and kind of like the entrepreneurial scene. So now we're in 2016, just like you said, and so 2016, this was your introduction into the cryptocurrency and blockchain space. So you said you started your company, Starbase?
[Yu] Yes, Starbase. I co-founded Starbase with CEO Tomoaki, and I was the CTO. It's a kind of ICO platform that helps blockchain startups to raise funds from ICO, a token sale.
[Richard] Gotcha, okay, cool. Okay, so you started that back in 2016, and then you worked on that for a while. So what happened after you started that company? And how did you get into your current company, which is Libertypool?
[Yu] Starbase has raised at least $9 million by ICO in 2017, and the experience was very exciting. So I, as a blockchain developer, I wrote smart contract on the Ethereum blockchain, and I made their ICO successful. At the same time I saw many problems in the crypto investment field. For example, there are many scams.
So as an ICO insider, we've fought against many scammers. And also, and people are not so much educated in the crypto and the blockchain field.
[Yu] So it's more than scammers, there are many faulty information, incorrect information on the internet, so people often who are influenced with such false information, then put their money into many projects and eventually they lost money. I saw those circumstances, you know, that's why that partly motivated me to launch, found, this company, Libertypool.
[Richard] Gotcha, so the main purpose of Libertypool, as you were going through Starbase and all the ICOs and all the scammers that were going on, you were like, there needs to be a more secure way and a better way to help,
not, to help prevent people from getting scammed.
And so, and so you create Libertypool, okay. So that's how you came up with the concept. But, you know, what is a problem that Libertypool is solving, and it is super needed in the future, outside of just making sure that scammers aren't coming to the platform to try to get people out of their money?
[Yu] In my Libertypool career, I interviewed over 50 crypto investors. So I try to understand their needs and their problems, and we help with some of the problems, that is, they understand spending time to learn and leverage crypto and blockchain investment. But there are a few who too busy to do so. So I just came up with an idea to solve the problems, that is we, Libertypool, can do researchs on behalf of them, and we can provide a solution for them to invest in the right, in the right crypt assets. So shall I speak about our solution?
[Richard] Yeah, so if I'm not mistaken, like the way that the pool works, and then just looking at your website, so you basically put in a certain amount of money, and then based on you and some of the mathematicians that are in the group, you invest in over 20-plus cryptos, and over time that portfolio makes money, and then they can cash out their portfolio over time, and that's how they get their money back.
[Yu] Yes, we have found a good partner. It's an independent team of mathematicians, quants, and experts in the crypto investment financial field, So they invented a formula that reflects the entire blockchain market capitalization, I'm sorry, the entire crypto market capitalization. So they have the data, and they have a portfolio, nice portfolio, backed by research since 2016. But there was no way to invest in their portfolio, invest in their formula. So we have built this platform for every busy investors to invest in their portfolio designed by the experts.
[Richard] Gotcha, okay. Well, cool, man, that sounds like a really cool project, and it sounds like you've already had some really good success with it so far. But I know that you've, you know, you've now been in the cryptocurrency and blockchain space for several years. What are some other different cryptocurrency and blockchain projects that are on your radar?
[Yu] Definitely, one was the promising project, is Ethereum, you know, it's a popular project, because many projects issue their tokens, blockchain tokens, but most of them haven't provided a use case to consume their token. But for Ethereum, yeah, so Ethereum blockchain, it's already operating, the users of the Ethereum blockchain need to spend some Ether for deploying their program, decentralized program, or they can, they need to spend Ether, to use the DApps, decentralized application deployed on the blockchain, yeah, so that they already, so it's the demand.
Have a use case, it's--
Yeah, yeah, a use case.
There's a demand.
Exactly, it's very practical, I'm actually, I'm a pretty big Ethereum fan myself. And a lot of these cryptocurrencies, they just, as much as they're trying to make a cool thing, if people aren't gonna use it every day, like how powerful really is it? So I also think that that is a very good one for people to be looking out for, so thank you for that.
[Yu] Can I speak about another project?
[Richard] Absolutely, absolutely.
[Yu] So recently, for several months, I knew some project, it's called Anchor, Anchor token. Anchor token is listed on an exchange. It's a project to issue a stablecoin that reflects the global economic market. So, you know, there are, so for now there are many stablecoins pegged to some currency, like pegged to the US dollar, but the uniqueness of Anchor coin is it's pegged to the global economic market. I feel it's more, it has a potential to become a stablecoin, it's like borderless stablecoin.
[Richard] Right, it has the potential to potentially become like the standard stablecoin that everyone
could peg against. So, and it's called Anchor.
It's called Anchor.
Good name. Okay, so I'll definitely go check that out, and everyone else should probably go check that out as well. Yeah, go ahead.
Yeah, it's like Libra by Facebook, but, you know, Libra by Facebook is a permission-based blockchain initially, but Anchor is based on Ethereum blockchain, and so it's on a public blockchain, that's the difference,
[Richard] All right, and not to go back to Ethereum again, but there is just so much being built on top of Ethereum, it's just, there's just so much use case for it. And going back to Libra coin for a second, just that is a centralized, Libra is a centralized platform, period.
[Yu] Yes, yes.
[Richard] And with Anchor it sounds like, because it will be built off of the Ethereum blockchain, that sounds a little bit more promising to me. So I like that, I like the sound of that.
Well, good deal, and so thank you for sharing two of those projects with us. But what are some other things that are in the crypto space that you think are gonna happen somewhere between the next three, six, or three to six months, or up to a year? Like what do you think are some really important things that are gonna to happen in the space, that are about to come up?
[Yu] I believe in the blockchain as an infrastructure for various kinds of assets, means there are already some cryptocurrency assets working on the blockchain like Bitcoin is currency. Ethereum, is utility token, and there is STO security token offering, securities issued on blockchain. And so Anchor, it's a backed by bonds. I believe various kind of, many kind of assets, including traditional assets, will be available for trading on the blockchains.
[Richard] And I could see that as well, and I believe that the world is definitely moving towards blockchain. and there's, from a database standpoint and just from a security and being able to follow securely how transactions have happened, blockchain just solves those problems. So it's very practical.
Yeah, yes. It's lower cost and transparent and fast, yeah. I see many currencies larger than ours, and it's all small important returns, and more is most important factor blockchain can provide, it's open like the internet.
[Yu] Yeah, every company can, interact with blockchain to build a new service.
[Richard] Absolutely, and just like you said, the open availability and the transparency, that is so key, 'cause companies aren't gonna be able to just try to push things under the rug, and not, there'll be a larger light on all the things that they're doing because people can truly follow the transactions, which is great.
Okay, deal. Well, Yu, thank you so much for being on the show today, and for dropping all the knowledge that you have. But before you leave, I will ask that if you can leave a final thought with all of our listeners today, what would that be?
[Yu] I recommend listeners to try using services in the blockchain sectors. So for example, I see many people have already bought Bitcoin, and have some balances on their exchange account. But also many of them haven't used a Bitcoin wallet. So one of the interesting stuff for Bitcoin is they can send Bitcoin to others through the blockchain wallet. Yeah, so I strongly recommend listeners to try using crypto and blockchain their services to understand them better.
[Richard] Gotcha, so just making sure, like, yeah, Bitcoin's the biggest one and everyone knows about it, but try some of the other cryptocurrencies, try send to it to each other, try to set up different wallets, and just see how you can use it in your everyday life.
Yes, yes, yes.
There's a pretty good deal. Yeah, oh, absolutely, and thank you for that final thought. But again, Yu Yamanaka, thank you so much for joining us. And what are some different ways that people can connect with you and learn more about Libertypool?
[Yu] Yes, simply people can visit our website, libertypool.com Then the Twitter account, Facebook page, Telegram channel, So yeah, I am very much welcome to, help people interested in Libertypool.
[Richard] Perfect, well, again Yu, thank you so much for joining us today. And for everyone listening, stay Crypto Current.