01 Nov 2021 · 4 min read

Alexander Mamasidikov on MinePlex’s First Year and MinePlex 2.0

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Alexander Mamasidikov has certainly had his hands full over the last year. The company he co-founded, MinePlex, took off a year ago, right in the middle of the COVID-19 pandemic as the crypto industry was seeing a wave of new users as well as institutional support from firms like PayPal and Cashapp. Needless to say, it was a good time to get into the crypto business.

Even with all of this, many underestimated just how successful MinePlex would be in its first year. In that time, MinePlex has amassed thousands of users worldwide and has successfully launched a number of features including a wallet, commodity staking, and so on.

A quick look at MinePlex’s services roster shows that the company is working towards greater access and inclusivity for crypto users, allowing them to do it all from one place. Mamasidikov, who is an advocate for greater financial inclusion, agrees with this.

“We create options for competition in the crypto market and opportunities for crypto users. So, the MinePlex team has developed its own LPoS consensus blockchain. It gives access to tokens, profitability and, for the first time, victory over cryptocurrency volatility. The user sees the PLEX token rate for 7 days ahead. And returning to routine cryptocurrencies, he will begin to think about the possibilities. Thanks to the blockchain, we have created an ecosystem that provides completely new financial instruments, for example, commodity staking,” he says. 

MinePlex’s first conference was recently held in Dubai and saw over 150 attendees. Among these were industry leaders and it featured an afterparty to celebrate this milestone.

The event wasn’t just to celebrate the first year of MinePlex’s existence but also to discuss the general state of the industry and how it can continue its current growth trend, especially in a post-pandemic world.

On the importance of this conference, Mamasidikov says, “ Time sets its priorities. No one guessed about such a breakthrough in digital payments. And the fact that cryptocurrencies will become mainstream so quickly? Or is the e-commerce market like the new norm? All this makes trends. It's all working right now. The main thing for us as a company is to create layers of educated users who will competently manage finances, not only know the theory, but also be able to assess risks in practice. This is our priority.”

A huge part of the future of the crypto industry will be the education of new and incoming crypto users, as was discussed by Rico Pang, the Co-founder and Global Managing Partner of Sanctum Global Ventures, during the conference. 

For the widespread adoption of cryptocurrency to take place, adaptation and user education is needed. We need to work with this, then it will become possible,” he said.

A New Phase for MinePlex

With all the discussions and celebrations at the recent Dubai conference, the biggest focus was on MinePlex 2.0, the new version of MinePlex that will see all its applications accessible from a single place as well as a corporate style offering for users.

The first version of MinePlex was made available in its first year and as such, it is fitting that MinePlex 2.0 be unveiled as the company enters its second.

MinePlex 2.0 is scaling the project and solving problems of a completely different level. Work for all crypto users become attractive to all financially literate people,” Mamasidikov says about this new version.

During the conference, attendees also got to see a demonstration of the new MinePlex crypto card that will be integrated into the Mastercard payment system by Dzing Finance Ltd. This means that MinePlex users will have even more opportunities to spend their cryptocurrency around the world, which has always been a priority for MinePlex. Given the fact that more people are using cryptocurrency as a medium of exchange, this is an important move.

Cryptocurrency must become available in order to fundamentally change the financial system. One of the main stops for mass acceptance and trust is a gap in people's knowledge about its capabilities. There are risks in any system, but when you are aware of them, and even more so when you are the sole owner of the currency, it opens up new horizons of your possibilities,” Mamasidikov adds on the importance of crypto-related knowledge.

The goal of all of these, ultimately, is to push the crypto industry forward. During the pandemic, many consumers found solace within the crypto industry and it is not being seen as a worthy competitor to the mainstream financial world, and for good reason. From greater accessibility for the underbanked to the ability to earn money, crypto's popularity was inevitable.

As Rico Pang, Co-founder and Global Managing Partner of Sanctum Global Ventures puts it, “There are two reasons why cryptocurrency is ubiquitous and why it is so popular. The first thing that is needed is faith in cryptocurrency. In any product, it is always about the user's belief in it. If it is, then the product lives. Second, cryptocurrency gives users a choice. It is the main competitor to the financial system ”.