DISCLAIMER: THE BELOW REFERENCES AN OPINION, AND IS FOR INFORMATION PURPOSES ONLY. IT IS NOT INTENDED TO BE INVESTMENT ADVICE.
Ternion is a licensed trading platform with a payment gateway whose aim is to bridge traditional finance with the world of cryptocurrencies. With an MVP already developed and accessible on the company site, Ternion is ready to deliver. Ternion’s push to collaborate with traditional financials, while enmeshing the platform with cutting edge blockchain and crypto trading technologies, sets it apart as a disruptor and trailblazer, while remaining a leader in secure, reliable, and stable fiat to crypto exchanges.
What does your company do?
Ternion’s focus is to make cryptocurrency usable in the real world for real people. Traders, customers, and vendors can all benefit from the Ternion Ecosystem. Our exchange allows crypto to fiat trading and is regulated and licensed by the EU, which allows the platform to operate globally.
The payment processor lets customers pay with cryptocurrencies for services and goods, and it allows vendors to receive fiat currency, if they choose to do so. We are positioning ourselves as a top market player and frontrunner.
What problems are you solving?
One of the biggest problems that have been plaguing cryptos has been a lack of regulation and licensing. This has led to the current instability and price volatility in cryptocurrencies, which has sidelined institutional money and retail investors. By building a regulated and licensed exchange we are already starting off with in built solutions to many problems that exchanges are facing today.
Getting a license for the Ternion Exchange not only gives us the ability to integrate institutional players within our ecosystem, but also retail clients who want to use a reliable and secure platform.
Another problem we are tackling is poor customer service. How many platforms have come under intense scrutiny due to customer service issues? To deal with this, we have built a customer tailored support system that handles the needs of each customer differently.
In regards to AML and KYC policies, we recognize that traditional approaches take a long time to pass, that is why Ternion will follow European guidelines of onboarding for a fast verification speed.
We also solving the problem of lack of transparency by conducting yearly audits. Other ICOs do not have clear guidelines about the post ICO business, but we established the Ternion Liquidity Fund to oversee the accomplishment of goals set during the ICO stage. This is being supervised by our advisors, who are some of the biggest influencers and thought leaders in the industry.
What are the major challenges for your business?
People often ask us: How is Ternion different? We overcome this challenge by not only highlighting our aspirations, but actually offering things in the here and now. One example of this is a demo version of the Ternion Exchange, which is already available.
We truly want to earn people’s trust by being committed to transparency all the way – starting from a team of adept professionals and advisors, to conducting annual audits and expensing our community.
How are you changing the world?
We are bringing a Licensed Exchange to life and making it accessible to traditional investors. As we’ve been in the industry since its nascent stages, we see the demand and understand the needs of our clients and interested parties. We aren’t doing something completely new and unique, that is clear, yet we are improving the way its executed in order to actually ensure the industry changes for the better.
We have a strategy to incorporate behavioral economics and multiple signal offerings into the exchange. We are working on an education center as well. Once the exchange is fully loaded, any interested party will see how to benefit from trading or investing.
We offer the average person a path to experience all the benefits of trading and utilising cryptocurrency, without having to worry about being cheated. Ternion provides guidance, and we are regulated and licensed. Putting it simply, we utilise knowledge from areas of traditional finance and law, and we apply it to the technological reality and potential that the cryptofinance world holds.
What is the major social impact your business has delivered so far, as you see it?
By getting licensed and launching a demo version of the Ternion Exchange before the commencement of the pre-ICO stage, we have positioned ourselves as transparent and reliable players. We are setting the right course in the rough waters of the crypto world. A course that we are willing to see through and to remain committed to by keeping our promises and delivering viable results.
Do you see your company as a disruptor or a collaborator?
We believe in a synergy of approaches. In a sense we are disrupting the main assumption that technological advancement can flourish without the base that traditional financial system and legal regulations bring to the table. So we are actually disrupting by collaborating with the very people the crypto world initially set out to ignore.
To push this forward, Ternion has been working with traditional structures and business models to advance the future of cryptocurrency and to make it accessible and safe for everyone. But at the same time, we are looking at multiple parties to join our cause.
How do you see collaboration within the industry?
We learn from the mistakes of others, but we have a deep respect for other exchanges and businesses. We are always looking for collaboration opportunities and we not only want to be the top players in the industry, but also experts that emerging startups can learn from and collaborate with. For example, we look at Binance as our big brother. We believe their strategy is the correct one for the ICO and post ICO stages, so we are learning the best practices that they can provide us.
Blockchain is called by some a ‘platform for truth and trust.’ It is decentralized, and it protects users’ data. It is democratic in nature and it can be successfully implemented to make the future more innovative and liberating for everyone: from smart contracts to digital voting.
Where do you see yourself in 3 years? And where do you see blockchain tech in 3 years?
In three years we see Ternion with working products that are the destination for millions of satisfied users. We see ourselves as industry leaders, innovators and experts. The future of blockchain depends on what steps are going to be taken in the coming year. If the steps are correct, blockchain will be widely used.
Is the blockchain industry a maturing one? If not, what more does it need?
The Blockchain industry is one of the fastest growing ecosystems out there. The saying that humanity has developed in the last 10 years more than it did in the last 100 can be fully seen by blockchain. Anyone who reads a book about blockchain has already changed, and you need a new one to learn the newest updates.
Like many blockchain startups, you have turned to an ICO as a way of raising funds for your company. How are you finding the process so far?
The ICO process is 24/7, with no weekends – all work. The huge benefit of it is the people that are met on the way, and the amount of fresh information gathered with each meeting. It’s already not just about the ICO – it’s more about finding allies along the way and connecting all the puzzle pieces.
All of our goals will be completed in the fastest time span if trust is put upon us. The ICO process is challenging, but also enormously rewarding, not only for us, but for the community and our future.
To find out more about Ternion, make sure to check out our interview with Rudolf Medvedev, Founder & CEO of Ternion.