Completing one year on May 24th, FCoin is a popular digital asset trading platform pioneering the Trans-Fee Mining model to reward its users. The model was further revamped and a Sustainable Mining model has been created.
It was during this period, FCoinJP was born. As a sub-brand of FCoin, FCoinJP adopted the Trans-Fee Mining model distributing 80% of the fees back to the users. Growing steadily, FCoinJP is first-of-its-kind platform that may very well be two steps ahead in the game!
Now that the total supply (10 billion) has been reached, we got in touch with Kim Young Soo to learn more. He heads FCoinJP and is actively involved in the crypto space. In this exclusive interview, we discuss the past, present, and the future of FCoinJP, its FJ token, along with its current growth plans.
Here is the entire interview:
1. Can you explain FCoinJP in a simple language?
FCoinJP is a platform for digital assets including digital currencies. Unlike other traditional exchanges, FCoinJP aims to become the world's first transparent digital asset trading platform with community autonomously operating and taking ownership of the platform.
Traders and investors do not have to worry about the fairness and transparency. The safety of the digital transaction at FCoinJP can be ensured by through data security, privacy protection, and the and robustness of our trading system. A lot of time and energy has been spent in building the platform.
With our unique model, we have been distributing rewards back to the users to create a community-based platform.
2. What is so exciting about FCoinJP that
everyone should know about?
As the leader of the exchange space, FCoinJP intends to lead the future of the economy and promote a worldwide economic model. We are never calling ourselves as a company. This is incredibly important.
In fact, FCoinJP is evolving from a simple exchange to a "community-based" exchange.
As mentioned earlier, the FCoinJP community is an open and transparent organization. The FJ issued through the Trans-fee Mining (Trade Mining) model represents all the interests of the FCoinJP platform.
Our mission from day one has been to make continuous efforts to become a community-based platform, with the major decision-making and operation revolved around the community.
3. Where is the FCoinJP (FJ) token used for?
What are its advantages?
All FJ holders are the owners of FCoinJP.
As an FJ holder, you have the right to participate in community building and can express your thoughts to the growth and betterment of the platform. This is a brand-new structure of community that conforms to the future economic structure.
In addition, FJ holders create the value for FCoinJP. For such value-creating traders, FCoinJP will return the FJ according to the proportion of their contribution to the transaction, and give holders the daily dividend rights exclusively enjoyed by shareholders of large enterprises previously. We are really giving the power back to the community.
As per our white paper (link), these are the current benefits structured for the FJ holders:
4. What is the ONE biggest challenge FCoinJP
is facing and solving right now?
From day one, our goal was to be a community-based platform making our users the real owners of the platform. This is a challenge we have been facing and solving right now.
In addition to this, we are constantly trying to evolve and spread the word about FCoinJP not just in Japan but also globally.
5. What led to the foundation of FCoinJP?
In the past era, human beings were divided into consumers, producers and owners by the relationship between labor and production. Owners always think blindly about how to take advantage of consumers. And consumers are only the consumers of value.
With the birth of blockchain, FCoinJP is thinking about integrating the interests of the three parties. If you think about it, you can see how the relationship between consumers, producers and owners were fragmented. This is the past economic model.
In the future economic model, these three parties will work together to create value. Consumers are not only the consumers of value but also the owners. This connection gives a huge advantage to the liquidity of the economy.
6. What barriers of entry have you identified during the process of launching FCoinJP?
Like any other exchange, we faced our challenges. From technology to marketing, every challenges were conquered with time. Interestingly, right now our biggest mission is our biggest challenge.
As we are not a company, we were always striving towards a community-based platform. We wanted to know if people will welcome our idea or not. And now more and more people welcome our idea!
7. Can you please tell us about your
background and your team?
My name is Kim, and I was born in Japan. To pursue graduation, I moved to China. Right after this, I started international trading (export). Here is where my interest for cryptocurrency reached its peak.
It is interesting how I found FCoin. I have been an ASIC miner, and I read an article in Chinese discussing Mr Zhang Jian’s vision around FCoin. I was surprised and shocked to learn more about this new space. I believed in the vision and future of blockchain.
Then last year, I joined the FCoinJP team involving in volunteering activities. It has been six months since I have been handling FCoinJP and I love every second of it. As FCoin handles the technical part, the FCoinJP team is relatively small. We have plenty of volunteers supporting and spreading the word about the platform. After all, we are a community-based platform! 🙂
8. How do you perceive blockchain technology?
Where do you think it is it heading in the next five years?
I want to keep this simple: I see blockchain as a value layer. It connects by creating value to the people. We are personally trying to use blockchain to create a true token-economy.
9. What is keeping FCoinJP busy these days?
The future update is in sharing the order book, in which FCoin and FCoinJP will have the same order book to increase the liquidity.
We are still young platform. We are constantly evolving, adding more features, and creating a better trading experience. Again, our community user they have more idea how to improve the platform. One step at a time!
10. What is your expansion strategy?
The idea is always simple: let the community takeover while the tech part is handled by us. As mentioned, we will share the order book with FCoin.
Then, as we have completed Trans-fee Mining, we will introduce a new way to benefit the holders of the FJ token (differentiation transaction fee).
We will also co-operate with Japanese enterprises and tokenize them.
We will circulate the funds in the cryptocurrency market and will activate economy in Japan. Overall, with the Fractal public chain coming soon (before July), we are determined to grow quickly and make users the real owners of the platform!