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29 марта 2018

No time to wait – just act: an interview with Dmitry Machikhin

Nowadays “to lend a helping hand” is a baffling problem because this expression refers more to mental than physical work. New technologies, the introduction of quite new previously unknown elements into the system, no less, or even more complex than the old ones - all this makes a person not only reflect, but act strong. This is a difficult task even for Z-generations let alone X-ones.

There are always people who can help not to get lost or get off the right path, who know their business, who can explain and give advice to everyone, regardless of the age and experience.

Cryptocurrencies have won a place next to fiat money and already been accepted in several countries around the world. That's why we appeal to experts in this field and tell our readers how to succeed in the cryptocurrency area.

This is our project "No time to wait – just act!" And today our guest is Dmitry Machikhin, Executive Director of Midex IT, a counselor at GMT Legal.


- Hello, Dmitry. Tell us about your acquaintance with cryptocurrencies, how did you discover this area for yourself?

- I learned about them long ago, at the end of 2014. At that time I already knew about the existence of Bitcoin and considered it illegal. Then I realized what a blockchain was, and understood that cryptocurrencies are just drops in the ocean,it's the blockchain that should be treated with care. I began to read and study more about it, decided to turn to specialists.

As I remember, in 2015 I already wrote an analytical article on the use of blockchain in law, and how to change the scope of law. It turned out such a fantasy, reasoning on the topic. After 3 years, many services from my those fantasies are already embodied in real life. I then realized that that was my sphere. In fact, I was brought there simply by the hand like many others and now I am professionally and seriously engaged in it. 

- You consult start-ups around the world, tell us about the most interesting case in your practice.

- I dealt with many interesting companies. I do not know what companies are talking about now, cryptocurrency ones or others, but I always like working with the world's first "TrueFlip" blockchain-lottery. I had an idea to launch my own lottery with partners. The idea came to me the day before I was invited to advise "TrueFlip", the world's first online lottery. I do not believe in such coincidences, that's why I naturally agreed, and since that time my company has been cooperating with "TrueFlip". From the very beginning I help the guys to solve legal problems. Now they really are one of the brightest representatives of "gembling" with the use of a blockchain. I think that they still have everything to live for.

- You also give advice on blockchain projects, which, in your opinion, is the most successful for all time?

- Midex, perhaps, is one of the most successful blockchain projects which I have ever worked with. This is because I am not only an Executive Director, but somehow a consultant during a token-session. In addition, my company solves all legal issues in Midex. I have not had such a big project yet, Midex is really very big. This is probably the project that can be called an "example" of consulting.

- Except mentioned above you have several projects of your own. Tell us about them.

- Probably, the law firm is to be noted. All other services I have now closed or sold to concentrate on the blockchain sphere. I once had my own taxi company and startup associated with dietetics, a number of IT projects, online parking services. I am still investing, but we will not talk about them now. Anyway, they are all connected with cryptocurrencies, with investments in ICO.

- For a while you worked in France and Luxembourg, I think, now you also travel a lot for work or for leisure. Have you ever paid for services or goods in digital currencies in other countries?

- I really have a dream to pay fully for my trip in cryptocurrency, let's say, completely pay for the hotel, food, transportation. I think that today it is possible to do this only in Japan or the USA. Still you can pay for some activities in other countries, but in Russia, where I now live, it is still impossible. Nevertheless, such an experience would be interesting.

- What cryptocurrencies do you invest in and why in them?

- I really do not like this question, because it can be provocative for someone. To ensure that these things are not unnerving and do not distract me, I transferred all questions on managing crypto assets to the fund. I practically do not make decisions, only sometimes I offer advice according to my analytics. I will not name certain cryptocurrencies, because this is rather catch all portfolio, and it is constantly changing in accordance with the dynamics of the market. I would like to learn the method of dealing for a fall, to earn not only on growth, but also on the fall that we can just observe in the market. However, in the short term, we are expecting a reverse trend.

- Having the opportunity to work in Europe, you have still become a partner of a law firm in Moscow. Tell me, what do you think are the prospects for the development of cryptocurrencies in Russia?

- Indeed, after returning from Europe, I opened my own practice together with several partners in Moscow and became a partner at once. Nevertheless, for a time until 2016, we did not engage in consulting in the field of cryptocurrency. This was only my personal deal.

It seems to me that with negative dynamics of regulation, set by the Central Bank and the Ministry of Finance, in the near future we will not see an intelligible bill capable of fully reflecting the interests of all market participants and endowed with normal law enforcement. However, I want to refresh youк memory - blockchain and cryptocurrencies are not the only spheres without normal regulation. In Russia there are quite a lot of such legal relations that do not have a special law and normal law enforcement practice.

I should just express our "ew" to the system and direct your attention to the industry, which is developing well. All over the world, experts in cryptocurrencies and blockchain are very much in demand, and they are mainly from China, India and Russia. This is rather remarkable fact. Ignore it means repeating the same historical mistake: letting professionals and capital escape from the country and work outside the tax and legal framework of Russia. This is a big mistake.


- Do you attend events dedicated to digital currencies and, in particular, Dash?

- I often crossed with the Dash team at various conferences, in particular in Moscow, but did not attend their special events. I've heard that Ethereum conducts its own conferences. I want to get into it somehow, but all the time we were in different time zones. Now the last Ethereum CC conference is going in Paris. It would be nice to come there, but now I'm busy with other things, especially since Midex has had Road Show and the planning horizon does not allow me to visit everything that I would like. There are a lot of activities. The place where I keep my badges is already suffering from a excess weight and I need to create one more.

- What can you say about the prospects for Dash in the next five years because there's plenty of cryptocurrencies would envy the speed of its development?

- I'm skeptical of any fork, but Dash is attractive enough for investment." It’s mined well. I heard positive feedback from the miners.

I will not predict for 5 years, because it will be the veriest nonsense. Taking into account that Dash is already in the top-10 according to its capitalization, it has all the chances to occupy rightful place among the main cryptocurrencies which will form portfolios of users in the future. And many of the thousands of existing cryptocurrencies simply go into oblivion, it's obvious. Many of them are already starting to pass into nothingness.

- How to become successful in this area? Share the secret with our readers, please. What should be taken into account at the beginning of the way? What did you pay special attention to? Perhaps it is necessary to get a mentor?

- It is very good to acquire not even one mentor, but several ones, that is, you must rely on the opinion of a knowledgeable person, be sure to make friends with people who have proven themselves in this field. As for personal success, the main thing is that your goals coincide with your opportunities.

If, for example, you set a goal to become an expert and a successful or well-off person, with help of cryptocurrencies, it should be your own desire. The goal can not be imposed by friends, parents, that is, you must "sweep before your own door".

You should decide for yourself, you should make mistakes and win yourself, and Fortune favors the brave.


- Thank you, Dmitry, for your answers.


A link to our guest's project you can find here. Learn more and become successful!

Find out more about Dash - here

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