Tech

Yasin Oral explained the innovations and agenda of Paribu, which is preparing to issue its own crypto currency.

The cryptocurrency industry, which has become one of the most popular topics in the last period, and its regulations in this area. Founder and CEO of Paribu Yasin Oral, Live Sacred Burninghe said.

Paribu creates its own file

Yasin Oral, in the coming months Paribuplan to create your own token; However, he said this process could change. Stating that coins will also be included in the next period, Oral did not share the information on what coins they are. Stressing that the announcement of these names in advance can cause price volatility even abroad, he said that we do not share them to protect our users.

Paribu takes care of reliable integrations. In such periods, the price movement of crypto money starts to become valuable. According to Yasin Oral, 3.5 million users in Paribu do not compare global prices and trust Paribu completely, they refrain from putting these cryptocurrencies in the system; He says that some crypto currencies are added to keep users safe. To sum up; It claims that they prevent users from trading on stock exchanges they don’t know about.

3.5 million users

Yasin Oral said that the crypto money industry is one of the fast integration sectors. Pariba, when it was established in 2017, said its different perspectives of users both in Turkey and in the world. Noting that they had a hard time finding a bank to work with when they were first established, Yasin Oral said they reached 30,000 members within 3 months of opening; Today, he announced that the number of members exceeds 30 thousand per day. Paribu currently has 3.5 million users.

Paribu’s trading volume currently averages $ 1 billion per day.

Saying that they had a daily transaction volume of 30 to 40 million dollars at the beginning of 2020, Yasin Oral stated that currently the volume of transactions is one billion dollars per day. He spoke of the importance of making a billion dollars an average volume for Paribu, which has reached a transaction volume of 2 billion dollars in some periods. Pariba from the last few weeks is among the most downloaded financial apps in Turkey.

There are global opening goals

From the day Paribu was founded, the goal has been to open up to the global; Yasin Oral said that the platform was not configured for local and that it would be a shame to leave it locally. However, he also underlines that Paribu, currently facing great intensity, is going beyond the roadmap. Paribu aims to open up to the global before it’s too late. Yasin Oral stated that it is not a coincidence that they have reached such a volume of users and such a volume of transactions; He said they will respond to the demands of users who expect a similar service around the world.

Explanations about problems experienced by the user.

There can be a lot of problems with Paribu, especially on the user side. Based on the questions sent, Arda Sacred asked that the money not be transferred to the account of the money that the user sent to Paribu and why there was such a problem even though there was no problem at the brokerage house, Yasin Oral said:

We are talking about 3.5 million members and hundreds of thousands of money transfers every day. Two minutes of interruption with the payment provider affects thousands of users. The users are right, but what appears on the screen is not the same as what Paribu sees when a user makes a transfer from the finance application. We rely on background web services, which can cause problems, especially since transactions are intensive. Banks do not find such a large amount of transfers in normal times. However, Paribu is trying to pass this money to the accounts one by one, which will scan the accounts in trouble.

Users say that they cannot trade the market in the hottest time and the application crashes. In response to some users who accuse Paribu of shutting down the system and operating in the background, Yasin Oral said that such a thing is by no means real, using the following statements:

We do not shut down the system in any way and do retroactive transactions, because the most active time of these transactions is when we will earn the most money. It is not correct to turn this off. Most of the 3.5 million users are operating in those periods, even users that are not constantly active are active during these periods. During this period, there may be problems in the matching mechanism that works behind them, these problems have been experienced in all the stock markets in the world and are still being experienced. In this context, we are carrying out hardware and software developments. However, at such a density, these improvements cannot be made quickly. I apologize for the inconvenience. We continue to make improvements.

Many users say that they cannot reach the customer representative by phone in Paribu due to a problem. Yasin Oral says this is true; because it says that problems are solved by leaving a record. It emphasizes that at least 40 thousand records are created in just two minutes of interruption.

The API will be implemented at the earliest opportunity.

Almost 100 people are currently working in Paribu, while the call center parts are being developed. Yasin Oral says that keeping users’ assets safe is the most important thing. This shows that updates will not happen overnight.

The API is also a topic on Paribu’s roadmap for a long time, and Yasin Oral said it will be implemented at the earliest opportunity. Too many users don’t know the API; He explained for a long time that they don’t want a small audience to have API privileges. Now many users can use it. To sum up; It was indicated that actions such as APIs that have not been taken until today are not for the benefit of the company, but for all users.

The regulations should not be confused with the concept of tax.

Yasin Oral also made statements about the regulations, saying:

When people think of regulation, the first issue of taxes comes to mind. However, this is not what regulation means. It is the last topic to be discussed in a market where taxes will be regulated. The main issue here is investor protection. In this direction, it protects investors from the platforms on which they operate and from social networks. Too many social media users make comments like “buy this, sell this” in various ways. This should be avoided.

There is also the platforms side of the problem. The mistakes that many newcomers will make will affect the entire ecosystem. Regulations will also prevent content intended to damage reputation.

When saying that it is necessary to evaluate well the commercial market and the platforms, Yasin Oral said that it is a regulatory institution that comes to Paribu; He stated that there is an expectation for 2021. However, he stressed that it is not yet known whether he will connect somewhere or not. In this context, he added that it is important to act quickly and without complaints.

Crypto money is taxed in many places around the world. In fact, the Ministry issued a statement on this issue and it was understood that the issue was not related to taxes. The topic is more about MASAK. MASAK is already big enough to request data from any platform. Yasin Oral also says that it is wrong for the industry and the ecosystem to come together with these concepts.

Additional services to Paribu

Speaking of additional services to Paribu, Oral said that Paribu is much more than a cryptocurrency trading platform; It says that they have developed many products in order to improve the ecosystem and offer more functions to users. For example; Paribu has a “Cold Wallet” service that will be launched in the next few months. All the projects produced from now on will be presented on Paribu’s own network. The card process, which was implemented as a result of the cooperation with Visa, will be launched soon. Many services that are not available on global competitor Coinbase will also be available by the end of the year.

Also, the motion graphics feature will be released shortly. Yasin Oral stressed once again that all the problems that users are facing so far will be solved. You can find all the details of the explanations and more in our video.

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