“The regulations will prevent the contents intended to taint the prestige of others”

Yasin Oral, CEO of Paribu, has answered the questions of Arda Kutsal, CEO of Webrazzi. In the program broadcasted live on the YouTube channel of Webrazzi, the efforts of Paribu and the future of the cryptocurrencyindustry have been discussed.

Stating that Paribu offers service to 3.5 million users, Yasin Oral mentioned that its daily trading volume was $30-40 million in the first months of 2020 and by now it has reached $1 billion. “Our daily trading volume reached $2 billion in some days,” added Oral.

Reminding that Paribu has been among the most downloaded finance applications in Turkey in recent weeks, Oral highlighted that they did not reach the mentioned number of users and amount of trading volume by chance.

“We perform hardware and software improvements”

On the live broadcast, Arda Kutsal also asked about user demands. Oral responded as follows:

“We are talking about 3.5 million users and thousands of currency transfers daily. A 2-minute disruption between Paribu and the payment service provider affects thousands of users. The users are right; however, the perspective of Paribu and an individual are not the same when they transfer money on a finance application. In the background, we are dependent on web services, and this may cause problems, especially when the transactions are intensive. Normally, banks do not need to deal with such transfer numbers. But Paribu scans the accounts experiencing issues and tries to direct the missing sums one by one to the relevant accounts.”

Yasin Oral, CEO of Paribu, was also asked about the groundless posts about “turning off the system”.

Oral emphasized it is not even a matter of discussion and continued:

“We do not turn off the system in any way and execute transactions in the background since the most active times in terms of transactions are also the times we would earn the most. It is not logical to turn it off. The vast majority of 3.5 million users perform transactions in such a period, even the users who are mostly inactive become active in these periods. In the meantime, the issues may arise in the pairing mechanism operating in the background; however, such problems have been experienced in all global markets and it is still being experienced. In this context, we perform hardware and software developments. Yet, such improvements cannot be completed rapidly in such busy times. I apologize for the troubles experienced. We continue performing improvements.”

Expressing that even during an outage of two minutes they may receive 40 thousand support requests, Oral stated that Paribu Support Unit responds to all demands.

“We should not confuse the regulations with the concept of tax”

Touching upon the regulation issue, one of the most popular topics of recent times, Oral said: “When we say regulation, tax is the first topic that comes to the mind. However, it is not the point of the regulation. Tax is the last subject to talk about when it comes to a market to be regulated. The core of the matter is the protection of the investor. In line with this, we can think about protecting the investor from the platforms where they execute transactions and social media. A great deal of social media users make comments in various ways by telling them what to sell and what to buy. This should be prevented.”

Remarking that there are many platforms included in the ecosystem, “The mistakes to be made by these platforms will affect the whole ecosystem. The regulations will prevent the contents intended to stain the prestige of others as well,” said Oral.

Oral emphasized that it is of vital importance to finalize the regulations as soon as possible so that there will be no one victimized.

The new projects of Paribu

On the new projects and improvements of Paribu, Oral stated that Paribu is a lot more than being only a cryptocurrency platform, and they exert efforts for the development of the ecosystem.

Oral informed us that Paribu will provide cold wallet service and he also gave the good news that “Paribu Card”, the cryptocurrency payment card by Paribu, will soon be available. Oral also declared that Paribu is working on launching their token, and a sprite graphic feature will be available on the website for viewing price fluctuations.

Lastly, Oral underlined that a large mass is now familiarized with API, therefore API will be realized.

You can watch the full broadcast from the link below of Webrazzi where Yasin Oral, CEO of Paribu, was hosted. 

Bu içerik en son 26 October 2022 tarihinde güncellenmiştir.


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