Igor Perepelychnyy is a serial enterpreneur with 7+ years experience in IT industry and 5+ experience in finance industry. With the collaboration of his wife/partner Elena Perepelychnaya (Chief Creative Officer Inserviss/Setcoin) and their lovely children 🙂 , they have successfully created from scratch, a successful ecommerce startup with 12,500% annual growth per year. In this interview, Igor shares their success stories and inspirations on the latest Setcoin project. This is interesting, please take your time to go through it, you will love them;
1) What is the Meaning of Setcoin?
Setcoin is a Service Exchange Token that was created for payments between service providers and customers
2) What inspired you to launch a Blockchain and Cryptocurrency business with Inserviss?
Idea was coming to us in 2016 when we start thinking to create some modern solution for everyday interactions between service providers and customers as we waste a lot of time for services local searching, analysing, booking when we needed to have some services like nail care, hair care, dentists, doctors and so on. At that moment we think to create some convenient solution like mobile app for fast searching (by using geolocation), analyzing profiles, viewing available free time for booking, pricing and payments with traditional peer-to-peer business model and charge 10-15% commission for each transactions between service providers and customers like it good recommends as working business model in such marketplaces like Uber, AirBnB and others.
But in 2017 blockchain industry start to booming
and we begin to think about business model transformation that allow to achieve win-win-win-win collaboration opportunity between service providers, customers, investors and Inserviss platform with new technology. And we find that Blockchain allow to reduce commissions to zero between service providers and customers and still derive the value for investors and Inserviss platform.
So, Blockchain was perfectly integrated into our idea and complemented it with innovation and new benefits for all members of platform.
3) What is the market size of the Global Services market and what percentage is Inserviss aiming to occupy with Setcoin?
According to analytics companies like PWC, Deloitte, KPMG, E&Y, Statista estimate global services spending in 2025 can be 10.435 Tr USD YTD.
Main goal of Inserviss and Setcoin is not to take market share of some markets but to create some solution that inspire people to use modern convenience tech marketplace to offer their services for customers and grow in quality of this services. If we achieve this goal it will contribute to use Inserviss marketplace and Setcoin not only traditional service providers that are now on the market but also inspire new members to come and become sole-entrepreneurs or SMB and start to offer some new services or grow in quality existens. So, we expected to see much higher numbers in spending for services per year by population after Inserviss and Setcoin will be launched.
4) What makes Setcoin crypto ICO different from the others?
As we need to have for our marketplace tech solution that will be able to make high frequency transactions with average check $30-100 we decided to build Setcoin Blockchain core with Red Belly Blockchain Consensus (RBBC) that is faster 11.5x of Visa and 94,000x of Bitcoin. Red Belly Blockchain can process more than 660,000 transactions per second.
In comparison, VISA’s network has a peak capacity of around 56,000 transactions per second, and the Bitcoin network is limited to around seven transactions per second.
I think RBBC will allow us to create fundament for growing something global and frequently usable like Inserviss and Setcoin.
5) How much do you intend to raise in the Setcoin Token Sale?
It will depend how much we raise on Pre-Sale. But we have goal for Soft Cap 10M in USD or crypto equivalent and Hard Cap 100M in USD.
6) Why would Setcoin increase in Equity and Value and how can Setcoin holders Profit if they invest now?
Setcoin will be main solution for services payments Inserviss platform. Every customers will need to buy it if he want to have a service that is offered inside platform. Also we are planning to sign agreement with main suppliers of service providers to accept Setcoins payments for goods and services that they offer. So, Setcoin ecosystem will grow not only Inserviss platform but also outside of it.
Setcoin is now on early stage with average value near 0.2$ in USD equivalent on pre-sale . As all early stage cryptocurrencies, Setcoin have much higher potential for ROI rather than other major digital and traditional assets.
7) What are the steps for investing in Setcoin ?
At now you can download Guide How to Buy Setcoin on our official Setcoin Sale website: http://www.setcoins.io/
It have step by step instruction how you can participate in Setcoin Sale and become early investor in new ecosystem.
In further, will be available solution to Buy Setcoins directly from Setcoin Sale Website.
8) Would you like to share the exchanges where Setcoin will be traded?
At this moment Setcoins have listing on cryptoexchange and are available on Waves Decentralized Exchange, so all retail Setcoin deals are clear and transparent. In further, we are planning to have a listing on major cryptoexchanges like: Bitfinex, bitFlyer, Bithumb, Bittrex, Binance, Poloniex, GDAX, OKEx, HitBTC, Bitstamp, Huobi and others.
9) We could see you have a team of amazing industry Experts, can Inserviss be seen as a big player in the Crypto market?
Yes, they are very active in our ICO campaign. Derive a lot of value. Some of them have tight relationships with Ultra High Net Individuals investors from China with investments sweet spot from 2000 ETH to 10000 ETH. Some of them have tight relationships with UHWI and billionaires from United States which sweet spot to invest in ICO is 40-100M USD. Also we are now in process of starting preparing marketing campaign to general public with one of our advisor from Los Angeles that have tight partnerships with celebrities. So we would like to create marketing campaigns for general public in US and worldwide with celebrities support. I have feeling that we will reach Hard Cap and be able to start fill 5-Years Growth Fund as demand will be strong for Setcoin.
9) What were some of the biggest challenges you encountered while working to launch your ICO?
Most big challenge was to start preparing to ICO only with 2 people (I and Elena) in team as we early don’t raise money in traditional equity Venture funding, so we were need to be able for starting to preparing for ICO campaign with only 2 people on board (usually it do 5-6 or 10 people). Now we have Advisors, partners and tech team that help us to prepare for this event and work is going faster and faster each next day. But as you probably know the most difficult challenges in your life give you greatest unique experience. As we have experience to create something from scratch in local region like (ecommerce business in CIS) we believe that we can create something worldwide in global world. Teamwork create wonder that can’t be achieved singly. It applies to both work and family life.
10) Where do you see Setcoin after ICO and in the next 5 years?
I think we will have some rushing in first year after ICO to achieve some convenient value in $30-50 for services payments. We want that Setcoin become gold standard for high frequently services payments as in cryptoworld and in traditional world. And everybody from customers and service providers have understanding how much services and what services they can buy for 1 or 2 SET.
After rushing, we will take Setcoin for some little control to cool speculative behavior and forward it to stable 50-100% growth per year.
We are planning to create Setcoin Reserve Fund (“SRF”) with up to 20% of funding’s come from ICO to use it for increase liquidity and decrease drop down volatility after rushing to convenient value until Setcoins get more usable and traditional Institutional Investors (Endowment Funds, Commercial Banks, Mutual Funds, Hedge Funds, Pension Funds and Life Insurance Companies) take Setcoins in their investment portfolio and Setcoins become stable investment digital asset and gold standard in crypto and traditional worlds. Also as we need in further to have setcoin as a payment solution between service providers and customers, SRF will be using for supporting unstable periods when many retail investors sell assets on panics.
11) What are your marketing and sales strategies to achieve that?
We are now on Pre-sale stage and working to finish all marketing materials for investors. After ICO we will start for preparing creating Inserviss platform, Setcoin Blockchain and marketing campaigns for Service Providers and Customers which explain in details the roles of each of the members Inserviss platform and the value that everyone receive from collaboration Inserviss platform and using Setcoin.
12) Facebook has banned cryptocurrency and ICO adverts on its platform to prevent advertising of what it calls ‘products and services frequently associated with misleading or deceptive promotional practices’. Will this move affect future ICOs and how?
I think now is the time of market redistribution. For example, yesterday I receive an offer from a Fashion TV that announced about entering in the new world of Crypto. It is a Big Media channel with 1.5 billion potential clients and they are ready to have discussions with payment in tokens, which is giving much easier access for ICO and early stage Blockchain companies to Big Media. Maybe in the future, other Big Media will open their doors to the Crypto World and will be ready to accept tokens as payments for their services which will lead the crypto market and companies to a new high level.
13) Could you tell us a little about your customer support?
We are open for question in all major channels like social media but for better security we prefer to use our Telegram Community channel https://t.me/setcoin for secure way chat with participants.
Also I am always available in any convenient to customers and investors channels like:
or Schedule a call meeting
If any customer or investor would like to participate in Setcoin ICO from $50 000 and higher he can contact directly to me. We have ability to make OTC deals with additional bonuses for such kind deals.
14) Would you like to talk about your legal and security measures?
Also we are now in process of creating legal and tech solutions with AML and KYC standards according to SEC requirement. We have great partners and consultants that have tight collaboration with SEC members and create legal and tech solutions directly from SEC and other countries regulators requirements.
15) Do you have more information for our readers?
I would like to thank the reader for his time and attention that he find to review our interview and wish everybody great and successful investments deals. Good luck!