The Big Picture

The Big Picture

Ceybit is on a mission to create a set of essential applications to help grow the use and adoption of cryptocurrency digital assets.

Our efforts will begin in Sri Lanka since it has yet to participate in the blockchain industry. We believe our platforms will have the highest adoption rate and utility in countries where cryptocurrency has yet to make an impact. As such, we are designing our products to promote maximum effect, adoption and use in the developing economies.

To better understand the needs of our users, we are implementing a ‘go-to- market’ (GTM) approach, which involves engaging with our audience personally to obtain a competitive advantage.Research suggest that in developing economies, having a physical presence is important to educate, demonstrate and connect with people since blockchain is still a difficult concept to understand. By placing ourselves in the shoes of our users and engaging with them in a grassroot level; we are able to design user friendly and effective platforms consistent with our vision & mission.

Ceybit understands that the purchase of certain digital assets such as Bitcoin and Ethereum might be too expensive for many people in emerging economies. With this in mind, we are creating a new token economy and model embedded in our platforms which makes it possible for anyone to earn and benefit from the Ceybit ecosystem. We personally believe that we are starting a financial revolution of our own with the tremendous power and potential of the blockchain backing us.

The Market is Just Starting

The Market is Just Starting

The number of Bitcoin and digital asset users globally have been projected to grow exponentially to reach a staggering 200 million by 2024. With that being said, the number of active Bitcoin wallets are sitting at an estimate of 6 million. Cryptocurrency is also predicted to make the biggest impact on the middle income and developing countries. Issues such as inflation, currency volatility, high transaction costs, limited access to secure banking, capital controls, corruption, and government instability has lead the people in developing nations to turn towards cryptocurrency as an alternative safe asset.

We are beginning to see these effects in countries such as Nigeria, Zimbabwe, Venezuela, Mexico, Argentina, Philippines and India as the people have been quick to accept and utilize Bitcoin and other digital assets. The blockchain is allowing these countries to skip a few financial steps ahead, limit financial fraud and get access to safe and modern banking solutions.

Sri Lanka being a middle income developing country is experiencing similar challenges and the residents have started to show eagerness to learn and utilise cryptocurrency. However, it is desperately lacking the tools to understand, acquire and use digital assets. Essential services and applications such as fiat exchanges and mobile wallets are acting as the gatekeepers to mass cryptocurrency adoption.

Challenges Around Corners

Challenges Around Corners

Cash is still the dominant medium of exchange in many developing countries and Sri Lanka is no exception (roughly 50% of all transactions are conducted in cash). The lack of banking and the existence of ‘banking desserts’ in many rural areas makes it particularly difficult to access a fiat cryptocurrency exchange which are reliant on bank transfers.

Surprisingly, lacking access to banking has not prevented people adopting cryptocurrency. This has largely been made possible through mobile applications (with limited functionality), which have been specifically catered for local users and currency. The growth and adoption of smartphones will continue to facilitate people in acquiring digital assets provided they have access to a mobile broadband connection.

A majority of people are yet to discover the existence of digital assets and cryptocurrencies. Even so, grasping the concept of a blockchain is not an easy one due to its highly technical nature. This, becomes especially challenging in developing countries where a large proportion of the population is not ‘tech savvy’ which could leave them confused, uncertain and doubtful.

Bitcoin and cryptocurrencies are highly volatile making it rather unstable as a safe asset in the short term. People are generally more comfortable with assets whose value grow consistently overtime (an important factor for consideration in developing economies). Furthermore, sentiment is still present in the market about Bitcoin and other cryptocurrency being a ‘bubble’ adding to the challenge of introducing people to its uses and benefits.

Where We See Ceybit Going

Ceybit’s vision is to be a leading cryptocurrency and digital asset solutions provider.

We envision the Ceybit Exchange, Mobile Wallet and Token (CYBT) becoming leading platforms and digital asset allowing people to enter a new era of financial possibilities, innovation and efficiency. With the help of our applications we will aim to enrich lives by introducing people to our token economy and cryptocurrency as a whole.

We envision the Ceybit token economy; equipped with a unique token model, to be a valued entity in the blockchain ecosystem. With an active, diverse and dynamic community from various parts of the planet utilizing our solutions we aim to add value to the platform and token consistently overtime.

By endeavouring to becoming a dynamic, effective organization, Ceybit aims to expand its presence globally, educating and facilitating people to get connected to cryptocurrencies and the blockchain.

Ceybit is a strong advocate for the public permission-less use of blockchains and will be actively working towards promoting an open financial network for the greater social good.

Ceybit’s Mission Statement

‘ To provide greater accessibility to cryptocurrency digital assets through definitive platforms. ’

We are working hard everyday to make our vision a reality. By utilizing our expertise and knowledge, we will strive to develop efficient tools to help people overcome the challenges faced with existing financial systems and infrastructure. We are aiming to provide greater financial inclusivity and opportunity through blockchain technology to people who will stand to benefit highly by using our platforms and services.

Providing superior quality products that: users can trust, easily use & recommend will be key areas Ceybit will focus on for continuous growth and development. Implementing a token model where holders are incentivized and rewarded for participation is of paramount importance to Ceybit in order to strengthen the network and the community. We will remain committed to giving back in meaningful ways in the token economy we aim to serve.

Creating a unified and diverse community is also of importance to us. We recognize the need to build a large group of stakeholders to increase the probability of success for our token model and holders in the long term. Ceybit will be actively engaging with its community and will work towards building vital partnership and alliances starting locally and expanding globally.

The Principles We Will Uphold

Our values will define the way Ceybit operates as a company and tells the world what we stand for. We have four core values governing Ceybit.

Innovation

Ceybit is committed to foster a company environment that encourages innovation, creativity and progression from our employees.

Participation

Ceybit promotes participation as employees are encouraged to speak freely and assist in building a collaborative environment. We believe that active engagement and contribution from employees is the cornerstone to a successful business.

Integrity

Integrity is fundamental to Ceybit’s values, we endeavour to maintain fairness and honesty in all aspects of our business operations and practices. We believe that in a financial environment it is imperative to act ethically to establish trust, confidence and commitment for our stakeholders and customers.

Customer Commitment

Ceybit is dedicated to customer commitment. We aim to positively engage with our customers and work towards building a dynamic symbiotic relationship. We aim to connect with our customers promptly and build a customer service interface that will solidify and illustrate our value and commitment to maintaining successful long-term relationships with our customers.

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