Global Blockchain Congress: Interview with Lutfi Qarajah, Petracoins

Tell us about Petracoins.
We are a digital asset management platform that helps individuals and businesses in purchasing, trading, storing, and using digital assets such as bitcoin and other currencies. Our goal is to provide businesses with comprehensive access to the crypto ecosystem.

So how do you keep up with the changing regulatory risks?
We work with multiple jurisdictions. Dubai is one of the most crypto-friendly cities in the Middle East and North Africa. Despite the fact that they have regulations in place for crypto exchanges and crypto-based firms, they are cordial and willing to assist us and other large crypto businesses in obtaining a licence and overcoming the regulatory barriers that blockchain-based enterprises often face.

Talking about digital assets, how hard is it to maintain the cybersecurity part of it?
Each company has its own strategy regarding cybersecurity. We have partnered with multiple security providers. One of our partners is providing us with the matching engine for a platform that is scalable and can handle up to 17 million transactions per second, secured by multiple security features on layers. On the custody side, we have partnered with a leading custody software service provider, Firefox to offer our customers assess custody solutions. And we also have insurance policies for the funds on their custody.

What are your plans for the year ahead?
We plan to launch and obtain complete licencing by the end of the year. It won’t be simple, but we’ll do everything we can to make it happen. Our long-term objective is to become the region’s leading crypto exchange and platform, competing with worldwide platforms.

What sets your company apart from the rest?
It’s not a question that can be answered in a single sentence. It’s all about the success elements. We have four success criteria. The first one is a strong team, the vision, innovation, and the solution that have the performance and the security. Once we provide these four factors, I’m sure we can be successful in gaining our customer’s confidence.

Lutfi Qarajah is the co-founder and SEO at Petracoins