What is Genesis Vision?
The projects vision is for investors, traders, brokers and exchanges to all be on the same platform, which will result in easy accessibility and extremely rapid and safe money and fund transfers. They utilize smart contracts and Blockchain technology to connect the users and ensure a transparent and safe technology.
Team behind the Genesis Vision project
The leaders and founders of this Russian project are Ruslan Kamensky, Dmitry Nazarov and Alexey Kutsenko. Together, they bring a lot of experience that they gathered by working in the FinTech and Crypto space to this project.
Ruslan Kamensky is the CEO of Genesis Vision, and has worked as a developer for many companies since 2010, and has mostly developed financial software. He worked on many projects, including the QuantBrothers project based on the Ethereum blockchain.
Dmitry Nazarov is the COO of Genesis Vision, and worked as a software developer as well, but without any experience on major projects. He is a nominee winner at the Russian hackathon with the project Genesis Vision, in the year 2016.
Alexey Kutsenko is the CBDO and co-founder of the Genesis Vision project. He is working on the project part time since he is also a CEO and an owner of the Tools for Brokers firm since 2008. His experience in the financial and software development field certainly helped.
Besides the trio that co-founded the project, there are many more people working on this project, ranging from full time employees to brilliant advisors with great reputation.
What problems does it solve?
As Genesis themselves describe it, the project is a platform for the private trust management market, built on Blockchain and smart contracts. What that means is that, in the rapidly growing trust management market (trust management is nothing more than assets traded by or managed by major funds, for the people), Genesis Vision tries to stay ahead by using the crypto technology. They try to make up for the lack of transparency, as well as availability to statistics (and therefor free choice) for investors. They also try to make their system safe so Ponzi schemes do not affect their users.
The connection that this project makes between exchanges, brokers, traders and investors via smart contracts is amazing, since it benefits all of them in some way:
Managers (traders) will benefit by:
· The ability to acquire customers from any country
· Transparency guarantees between managers
· Having additional ways of promoting their fund
· Issuing their own CryptoCurrency, which can be then traded by everyone on the platform
Investors would benefit by:
· Having fund managers from all around the world,
· Ability to invest in both crypto and fiat currencies
· Transparency that will be on a high level
· Ability to choose any risk level portfolio (low-medium-high)
· They will have additional layer of protection as managers’ trading logs will be presented to them
Brokers would benefit by:
· Attracting investors from all around the world
· Everyone having same terms of conduct on the platform
· Not paying for the software, which is completely free
· Having an additional safety measure in terms of their data safety from being disclosed or compromised.
ICO (then and now)
Genesis Vision project was funded by an ICO, which started on the 15th of October 2017, and it ended one month later, on the 15th of November 2017. Each GVT tokens’ value was 1$, with a total of 44,000,000 GVT tokens. Out of that amount, only 33,000,000 was for sale, while the rest was divided and spent on marketing, advisors, bounties, team and on the Genesis Vision fund.
As far as the bonuses go, early investors were getting up to 30% bonus on their investments.
Even with decent ratings on ICO websites, and a good vision, the ICO sold only $2,836,732 worth of tokens, which is far from satisfying.
After overcoming the lack of interest in the ICO, the project began developing the platform, and from an investors’ perspective, this project has succeeded, netting their investors 15x, and up to 21x on their investments, depending on what they invested with (ETH or BTC). In this bear market we are in right now, the tokens’ price is hovering around $20.
Genesis Vision project did not have many problems besides the initial ICO crowd funding that did not go as planned. We will see what the future holds, but the major problem to look out would be acceptance of the platform. Genesis does offer some convenient options for every user of the platform; no matter if they are a broker, trader or an investor, but it all boils down to how many people use it ultimately. As far as token price goes, the bear market that hit the crypto space is definitely not excluding GVT token. Since all the “altcoins” are pegged to Bitcoins’ price, the lower Bitcoin goes, the lower they go as well. Not only that, but altcoins usually drop lower then Bitcoin because people try to liquidate their investments so they move them to BTC to maneuver them more easily. Also, the demand for CryptoCurrencies is certainly lower in the bear markets.
How to buy GVT token
With only 4,436,644 GVT tokens in total supply, the price of it skyrocketed to more than $20. As far as investing in the token, it is an ERC-20 token built on an Ethereum blockchain, that can be stored on any ERC-20 compatible wallet, like MyEtherWallet, Mist, Parity, MetaMask, Trust, Cipher…
In order to buy the GVT token, you will need Ethereum or Bitcoin to trade it for the token and, of course, an account on one of the exchanges offering GVT, such as Binance, KuCoin and HitBTC. Buying GVT token would look like:
1. Make an account with Binance, KuCoin or HitBTC.
2. Transfer the desired BTC or ETH to the exchange of choice (note that HitBTC will only trade ETH for GVT tokens).
3. Exchange (trade) the transferred ETH or BTC for the GVT tokens.
4. Either keep your newly acquired GVT tokens on the exchange, or transfer them to any of the ERC-20 compliant wallets mentioned above.
After a bad ending of an ICO, no one has expected this coin to rise up as such a winner. It made many early investors money many times over, but the question is: Will it keep making money for the users of the platform? Only time will tell.
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