# TOKEN2049 - Prioritizing Traders on Exchanges: Security, Partnerships and Retention - Marc Bell

- Channel: [TOKEN2049](https://streameth.org/token2049)
- Date: 2019-10-09
- Watch: https://streameth.org/watch/yt-XcOlV4Ceank
- YouTube: https://www.youtube.com/watch?v=XcOlV4Ceank

## Transcript

good afternoon thanks for sticking around we're a little bit behind schedule so I'll try to move quickly through so the next speaker has plenty of time to chats just give you a little bit of background about me I've been working in the digital media space and online Global Payments alternative payments for the past 20 years throughout Europe Latin America and Southeast Asia for the past 10 years I've been focusing in the video gaming industry working with various platforms and last 5 years really developing the eSports scene in Southeast Asia working with various partners the last company I founded was eSports mogul based in Melbourne we did a IPO for the ASX and I was able to successfully move move on and I joined wow X as the CEO and started the project last year and we're currently in the alpha stage of the project and we're based in Singapore we're heavily regulated by the Monetary Authority Board of Singapore and we have a multi trading license kind of just like to do a little bit of a mash up today I'm going to talk a little bit about security of different platforms not only exchanges but also for any type of like e-commerce platform or a payment platform so one of the main things that a lot of the exchanges face today is liquidity issues with only with protecting the traders with having different successful I SEOs and different coins that come on so we we have a compliance a legal team will work with Denton's and we basically have a pretty strict due diligence policy where we go through check out all of the founders that the teams that we have that make sure that the coin is a legitimate project so we're not having dodgy trading happening on the plate on the platform we also offer different alt coin pairings so we can do very easy fast pairings and that will allow us to offer lower fees in regards to some of the strategic partnerships we're working on we've got a ecommerce platforms that we're working on we want to be able to basically bring out the the WoW X token out of the exchange and have a direct API integration with different ecommerce platforms for X platforms as well as payment service providers we want to be able to accept all different types of alternative payments onto the platform and then be able to cash out with fiat or as well as the WoW X token so talking about a little bit about the the traders within our community we rewards different token holders with the WoW X with the WoW X token we obviously do air drops for the different projects that we're listing we do incentivize trading and different reward and tiered tiered membership programs and then we do also community outreach where in some of the countries that we have offices we're doing local meetups and influencers so it's kind of wrap up this slide are our main value is really to tie in security and value over over profit so kind of moving into some of the security issues that we all face in the industry the more complex a platform any type of platform it is the more vulnerable it is 99% of all cyber attacks are happening through an end users PC or smartphone so really need to be able to give some type of control and security for your end-users it's obvious the banking financial and crypto exchanges are the the main ones that the hackers are attacking and they're easily doing that by just redirecting sensitive data keys and wallet information so at the core of any type of platform you really never want to have a single point of failure it's easy to go in with dirty browsers via JavaScript like Sam just talked about before my my presentation non malware with legitimate updates it's really hard to see those I mean they're unstoppable if you can't if you can't see them so we've got a three a three level or three layer strategy approach one is the secured platform itself and then assurances and various monitoring solutions so with some of the secure layer and we've had physical network application data traffic two-factor authentication cold wallets and hard wallet protection with various signatures and approvals and we also use hardware security modules and white box cryptography so this protects our database as well as tries to protect some of the the end-users PCs or their smartphones in terms of assurances we do external audits any type of platform needs to run external security audits obviously need to have insurance on your exchange or any type of platform you might be running and then have a good disaster recovery plan we want to be able to know when there is a human error that's that's at fault what's what are you gonna do and how are you going to be able to to be transparent with the community and come out with PR in terms of monitoring always you want to have internal audit compliance you you want to be able to watch all types of trading any information any type of trades any type of velocity trades that are taking place you want to be able to see what those are in work it's so you need to do your do your duty on your your kyc in your AML and be able to detect if there is any type of pump and dump perhaps happening on your platform so while X what we've done to try to minimize the external customers hacking potential is in the middle of our web server we send a pixel stream to from the browser what that does is that creates a hidden IP address so this is hidden and what it does is basically it creates a virtual machine really quickly it's almost instantly that comes back out and then it's it sends from the the new virtual machine that is built it fakes out the IP address and from there we have we send a QR code and with the QR code there's a a new keyboard that basically when you type it in it's seamless but it's undetectable for a potential hacker to be able to see what's the password or any of the codes or keys that you're typing in so this is our way to try to help all of our end users and so far it seems to be a solid solution kind of moving into some of the issues we're all facing as traders high trading fees upwards of two percent withdrawal fees or sometimes at one percent plus hidden admin fees so we want to be able with Wow X we want to be able to bring those down quite a bit a lot of the exchanges that I mean there are numerous exchanges out there these days so they have low low liquidity which leads to bigger spreads as well as a low pricing for the I SEOs that are on the on the platform's so with the with the trading feast there was almost a billion dollars spent last year alone with trading fees and there's also a billion dollars that was hacked last year across all exchanges throughout security we want to be able to with our merchants spinning we want to be able to have deposits to go through e-commerce platforms so they can so people can use buy products and services with the WoW X token in regards to some of the things that we're working on we've got a tiered membership program which is a game of fide type of trading platform it rewards traders and encourage different traders to bring people on to the platform as a referral program we there's it's two stages so the first stage is when a trader brings one of his trading friends on he gets 20% of all the the trading activity on the platform for six months and then when his friend brings another another person onto the platform he receives another 10% so he's got 30% to make on all types of trades that's this taking place and in regards to our smart card that's a bank grade security smart card that's used for payments as well as to be able to trade any type of the currency that it supports and access to all of our wax ecommerce partners sorry guys this is pretty a pretty basic slide just in regards to different types of communities that we're working with so basically you want to have transparency across all your social media activities to build a solid community with with Facebook and Twitter Instagram we're using that for any types of contests prizes giveaways - in courage stickiness on the platform with Google we're using Google for all of our SEO to drive organic traffic in regards to PR activities any type of news that we have on the platform LinkedIn is our corporate information with YouTube Vimeo and Instagram stories we're using that for any type of meetups that we have locally so we're doing a lot of media with that so we have fresh content coming out weekly with how to use the platform any type of testimonials any type of trading information that we want to share there and then with telegram we're using that for all of our air drops and community chatter it's a little bit slow so kind of just to wrap it all up so it with the single point of failure that's basically where 99% of all of hacking is taking place that's through your smartphone that's your PC so we really want to make sure that we give our our traders the most secure platform we can and also be looking out for them with with the secure strategy for data encryption which is secured layer occurrences and different monitoring solutions in terms of risk management we want to we monitor all of our transactions all of our trades it's a constant constant gardening there and with the with trading assets we also have community partnerships and scalability that builds out the the platform in terms of our reach working with various ecommerce platforms for ex-partners the quiddity partners and makers so hope you enjoy that and enjoy the next presentation thank you [Applause] you