Mavericks Interview with Top (CEO of bitkub)

Welcome to another episode of Mavericks, hosted by Joey Garcia. This episode features Top, a leading blockchain voice in Thailand, founder, and CEO of bitkub.

Early Life and Education

Educated in the UK (Economics)
Initial career path: Investment Banking/Consulting
Sought diverse experiences: high school in New Zealand, education in the UK, and work in China
Began career in a boutique investment firm in Shanghai

Introduction to Bitcoin and Blockchain

First encountered Bitcoin in 2013 after its price surged from $11 to $1150
Inspired by a blog written by Marc Andreessen titled "Why Bitcoin Matters"
Saw the potential for banking the unbanked and enabling micro-payments
Pivoted from a corporate career to focus on Bitcoin and blockchain

Founding the First Bitcoin Startup in Thailand

Returned to Thailand and founded coins.co.th, the first Bitcoin wallet company in the country
Started from humble beginnings: parents' clothing shop
Used local Bitcoin infrastructure to build the business
Encountered significant regulatory hurdles, including from the Bank of Thailand

Regulatory Challenges and Triumphs

Faced warnings and investigations from Thai authorities, including anti-money laundering officers
Despite challenges, worked to create new reporting standards for Bitcoin transactions
Industry perception of Bitcoin in early years: largely negative (money laundering, Ponzi scheme)
Had to rebrand to focus on 'blockchain' rather than 'Bitcoin'
Successfully navigated these challenges to grow the business

Key Influences and Partnerships

Met influential figures like Dan Schatt (ex-PayPal), who reinforced the transformative potential of Bitcoin
Participated in the Thai SEC's first FinTech challenge; developed a Stock Exchange 2.0 with instant settlement
Worked with Thai regulators to legitimize the industry; helped move towards digital asset exchange licenses

bitkub: Growth and Achievements

Raised $2.1 million at a $16 million valuation
Acquired an IT company to form bitkub
bitkub has grown 1000% annually for five years
bitkub is now the largest digital asset trading platform in Thailand

Industry Perspectives and Future Outlook

Argument for institutional adoption of blockchain technologies
Believes Southeast Asia is primed for the next wave of blockchain innovation due to several factors: young population, rich natural resources, and less entrenched legacy systems
Views on central banks and digital assets: central banks generally resistant, yet regulatory technology and governance are essential
Outlook on DEX vs. CEX: sees hybrid models gaining traction for their balance of regulation and innovation
Envisions more institutional and potentially even national-level adoption of Bitcoin in the future

Final Thoughts

Top's Vision: To leverage blockchain to promote economic freedom, bank the unbanked, and democratize value exchange
Plans for bitkub: Expanding regionally across Southeast Asia

Inspirational Quote from Top

"A voice is not a measurement of value beyond the goals we set. We'll make mistakes and fall short, put ourselves out in the battlefield, experience a thrill of victories, endure challenges, give our all for a noble cause, and learn from our failures."