Bitclear Co-Founder Envisions Bitcoin as Global Reserve Currency

Bitclear’s co-founder Evgeny Skigin shared his insights on the evolving landscape of decentralized finance (DeFi), regulation, and innovation. Skigin, who has been a pioneer in the crypto space since 2014, discussed the rapid development of the crypto market and the potential for Bitcoin to become a global reserve currency.

Skigin’s journey began with the launch of Bitclear, a software solution for payment systems that allowed Bitcoin to function as an independent payment option. Initially, the product was experimental, with users unfamiliar with crypto payments and the technology in its infancy. However, Bitclear has since evolved to support virtually any cryptocurrency requested by clients, integrating with payment service providers to offer crypto payment options to businesses.

Navigating the complexities of licensing and legal setup, Bitclear started in Denmark, moved to Malta, and eventually settled in Liechtenstein, which has some of the most advanced crypto regulations. Skigin emphasized the importance of a well-defined regulatory framework for the market to mature and avoid speculation. He has been actively involved in shaping crypto regulations by working with experts on regulatory committees, helping lawmakers understand blockchain technology and its implications.

Skigin acknowledged the strengths and limitations of crypto, noting that while Bitcoin is technologically superior for storing and transferring value, its volatility makes it unsuitable as a stable currency. He sees stablecoins, which are tied to fiat currencies or backed by physical assets like gold, as a step forward in creating a more predictable financial ecosystem. Skigin believes that crypto is forming its own financial system, driven by the need for individual financial freedom and lower-risk global trade.

Looking ahead, Skigin envisions Bitclear expanding its product functionality to cater to the B2C market in Central America. The company is developing a white-label infrastructure solution that allows businesses to use their technology under their own brand, with a mobile app for real-time monitoring and transactions. Additionally, Bitclear is working on a payment card that will enable users to pay with crypto anywhere, addressing the current limitations of existing crypto cards.

Skigin’s approach to team management reflects his preference for a lean, international team of developers, legal experts, and operations personnel. He values talent from diverse backgrounds, with developers working remotely from Poland and Spain. The demand for blockchain talent has driven up salaries, rivaling those of AI specialists, as tech giants invest heavily in launching their own cryptocurrencies.

Skigin’s vision for the future of the crypto market is one of increased regulation, transparency, and security. He believes that more individuals will seek professional management of their crypto assets without giving up custody, making trustworthy and competent companies like Bitclear essential to the market’s growth. Skigin’s insights highlight the critical role of innovation and regulation in shaping the future of DeFi, as the market continues to evolve and attract corporate interest.