On Thursday night, StiB Labs is holding the StiB Special Event 2019 in Saigon, Vietnam. Ben Le, Founder/CEO of StiB, has been around the local Bitcoin scene for several years now and can be considered one of the early participants in the market. Over the last couple of years, he sunk a lot of his focus and resources in building StiB Labs – which is getting ready for its public launch this week. Ben will answer a few questions on what to expect at this Thursday’s Special Event at Saigon Innovation Hub – as well as what his idea, motivation, and vision behind StiB Labs are.
Q1: Hi Ben! Thank you for taking the time today. You have been an active participant in this ecosystem for several years and can be considered one of the veterans in Vietnam and the United States in the sector. What was the moment in time you got involved in Bitcoin and what did attract you to the idea at the time?
A1: First I’d like to thank the team at BitcoinVN, especially Dominik and Phuong always great friends in the industry as we have known one another for so long. I heard of Bitcoin in late 2012 while browsing the Internet looking to build Clusters and I stumbled upon Bitcoin mining then gradually studied and researched the Blockchain that I found to be a great technology from my engineering perspective. I was lucky to get involved early when Bitcoin was less than $100 and that is the reason why we can bootstrap StiB Labs up until now.
Q2: How do you see the present situation and future opportunities for the “Blockchain industry” in Vietnam?
A2: The present is an issue since many exchanges are worse than banks. We have to be better in terms of fee structure, customer protection and ease of use plus many others to defeat the traditional methods of banking. This creates potential opportunities for other startups and entrepreneurs to solve those challenges. Vietnam is emerging as one of the great countries for Cryptos in general, all it needs at the moment is regulations with legal frameworks that could spur innovations of Blockchain + AI. The bottleneck is the regulatory bodies as they have to move so fast without deterring innovations. First they can simply adopt models from countries like Singapore or Malta since they are way ahead in the Blockchain that many countries will be playing catch-up in the next couple of years.
Q3: Your “baby” is StiB Labs for the past couple of years – on which you had been working on dedicatedly for several years now. Can you tell us how you came up with the idea for StiB Labs – and what is your idea and vision for the future?
A3: I have been trading for quite a while to know most if not all in the industry. I have traded from centralized exchanges to OTC with other Peers so the experience is good/bad then worst from time to time due to risks and regulations. We at StiB Labs can certainly create another chain, maybe StiBchain to compete with other copycat chains but we decided not to at the moment to focus our entire resources on developing the best runway for Cryptos to take off. So we build StiB Ecosystem from ground-up with Smart Contracts as secured Escrow/Collateral for both trading/lending P2P. To lower the learning curve we design simple and beautiful UI/UX so anyone with an Internet connection can access the financial world without expensive devices. We also offer Commissions Free on P2P trading/lending along with Legal Protection with StiB Legals where we partner with local lawyers to protect our end-users’/clients’ interests. Last but not least is the Profit Sharing since we would love to see all profitable. You profit then we profit and in any case if you post a loss due to market conditions or emergency we will credit back all the fees ever charge to your account. So there is no other reason why you should pay to trade while others make billions and you lose at the end.
Q4: You recently also launched a charity initiative called StiB Charity and are in the process to find local qualified Custodians for the donated funds, especially in the Blockchain industry primarily. Can you update us on the status of your efforts and what the vision for your charity arm in the future is?
A4: We want to build a self-sufficient and self-sustainable model so it can be replicated globally just like franchises in this emerging and share economy. We will dedicate $3M worth to help develop and deploy the model at the end of this year and will continue to spread of message to fight Hunger and Poverty in the next 5-10 years. The core focus of StiB Charity will be:
– Free lunches modeling Ubereat/Grab food
– Free night sleeps Homestays/Airbnb
– Network and (re)Train the workforce for the next digital revolution
– Backup public places when disasters strike
Plus StiB Universal will trial Basic Universal Income so we will select a pool of volunteers to offer them $100-$200 monthly in their StiB Pay (wallet will be limited to food and necessities spending) to take away the financial worries of putting food on the table so they can focus on building/helping/developing better StiB Charity models in their communities.
Eventually, we will develop StiBchain but with Quantum element when we are ready to revolutionize the industry. Our mission is mass adoption of Cryptos and we decentralize with everyone in mind!
The vision is within 5-10 years we should have a global Internet and anyone with an affordable smartphone/device can access the financial system globally. We are ready to bring Cryptos to everyone which is +3 billion and we will assist the other +3 billion to simply double what we all have at the moment.
Q5: On Thursday night StiB is hosting its annual special event in Saigon. Can you tell us more about what the attendees can expect?
A5: They will be blown away with surprises on what we have been working on, what we are capable of and what we will deliver in the future to reveal our secret plan on how to achieve the global reach of +1 billion end users between 2025-2030.
– The detailed Whitepaper is at https://charity.StiB.co
– The agenda of the Special Event is at https://www.facebook.com/events/2539832009627293
P.S: If you are looking to receive an invite for the StiB Special Event, please contact – Dominik or Ben