Interview/Taisia ​​Kudashkina. ‘Websarafan.ru’ Ceo

 

Taisia ​​Kudashkina is a moderator of the Russian small business website. Recently she started another business. Finolog ICO, a blockchain financial platform for loans and cane to Korea. Although she never has time, She visited the Daily Coin News office on the evening of July 17th and met up with he publisher Yun Keun Lee. This very evening, they decided on a partnership and cooperate in the future.

 

What is a Websarafan?

It is a representative media for small and medium-sized companies in Russia, and it has been opened for three years. It is very popular among the start-up community, has about 90 000 subscribers, and its podcast ranks in the top 5 amongst businesses podcasts in russia. It educates  small to medium-sized companies on marketing, sales and business.  We train a lot of companies (about a 1000 a year) and organised about 25 educational  events last year.. In detail, we have more than 40 000 subscribers in websarafan.ru client base and more than 700 000 people as our information partners.

What is the purpose of your visit to Korea?

I came as a Finolog’s communication director rather han as a operator of Websarafan. Finolog is a financial platform for cash accounting services. We have developed this platform as a blockchain. As a result, we are building a decentralized financial ecosystem. Now, we are working on the ICO and active promotion.

 

Could you explain Finolog in more detail?

To explain further, everyone needs money for a number of reasons, but there are not many places where you can borrow money. Approximately 70% of all micro, small and medium-sized enterprises in emerging markets lack access to credit. To borrow money, it requires a lot of paperwork to be prepared to submit to bank. Banks personally advise SMB to expect the application process to take a minimum of 60 to 90 days, while the whole process can take more than six months. Not to mention, six to seven out of the ten applicants are rejected. In order to expand business, you need money but it is difficult to receive a loan from the bank. Even in USA 45% of small business owners who are denied financing get turned down more than once, 23% don’t know why their applications were denied. Speaking of Asia, only in several countries like China, South Korea, Solomon Islands and Thailand the availability of loan for SMEs equals 30-40% - that’s the highest index in Asia! Moreover, only 1 of 7 Asian SMEs even apply for a loan.

In order to solve this problem, our company thought of a way. If you can’t borrow money from the bank, you need to borrow from someone who you can trust. You cannot ask someone who does trust you. We focused on this and found a solution. If business A wants to borrow money from the business C, we need to find the business B in the middle who knows the both parties and play the role of intermediary.

Karma coin also has the similar concept. Do you know about it?

Of course, in the case of Karma coin, it is a P2P is done by individuals. In this case, lending money to strangers may bring too much uncertainty and risk cannot be predicted. of the person who does not know, and the risk can not be predicted. This means even if Person A wants to borrow money from person B, the person B will more likely to not want to give his money since there is no trust there. However, if we can find the middlemen C and D who can create trust, we can connect them. In this case, the intermediary also earns commissions from the transaction. Also, it’s easier for B to lend money to A because C and D not only had histories of working with A but also will guarantee that A will pay back the loan to B.

How do you find the middle person?

The financial platform Finolog is an exclusive cash accounting service. It can download bank data and have a powerful API. Utilizing such a system, companies can ask to enter the system by submitting necessary information which will be analyzed and entered into the system. In Russia, there are many places like Alfa-Bank, Promsvyazbank, Raiffeisenbank, Tinkoff Bank, Otkrytiye Bank where information is disclosed by banks. Japan has already disclosed information at 12 banks and by 2020, more than 100 banks will have done so. In the case of Korea, it is still difficult for the bank to disclose the information, but it will eventually become possible:  JB FINANCIAL GROUP had made a first step. For Karma, individuals need to be responsible for analyzing whether the person A will pay back the loan but we have enough documents to analyze whether there is a relationship between the two. We are currently working with four of the largest banks in Russia. More than 5,000 customers are already known. Our co-founder has worked in AG fields for three years at Cashfloor. Our headquarter is located in Russia but I want to use blockchain to make it a global business. I am looking for a Korean partner.

How is the system utilized?

Once we get documents in the system, they are analyzed and rated. We analyze financial performance, credit guarantee ratings, loan details, how well investors manage their finances. This analysis can reduce the risk and increase trust. In our own rating we don’t take into consideration an entrepreneur’s personal credit rating, but in the realized ecosystem any developer can write the connector to the personal credit rating (thus enriching the data of our rating and starting to receive a commission for the sale of this data).

It seems like everyone can use this platform to their advantage.

Yes, I am trying to build a financial ecosystem where people don’t need to worry about lending money and the intermediary can earn commission. The person who is borrowing can connect to the, provide rich data, and receive the loan he needs.

How is this related to blockchain?

There is no single source in a distributed blockchain network. Replacing data requires changing data at multiple nodes in the network. For example, a bank may be hacked and a bank’s customer data may be exposed randomly. Our system is protected against such problems.

How do you like Korea?

Korea is awesome. There are so many events and sometimes there are 5 parties a day, I don’t even know where to go! Korea as a whole is very interested in the blockchain. In Russia and the United States, usually young people in the 20s-30s usually go to these conferences. However, in Korea, I personally know a lot of experts such as developers from Samsung and other major companies as well who are older, have more insights and financial ability to invest. It is a big difference because there are a lot of interest, a lot of skills and experiences. So, there is a great potential. Consequently, Korea is on the lead. Yet, everyone should always be weary of whether a business is scam or not. Korean investors, however, seem to confident in thorough analysis. I think this is good but unfortunately, according to the latest report of ICS Statis Group consulting company, eight out of ten projects are scams.

Therefore, media such as the Daily Coin News are necessary to analyze and share the results with other people. It is important to have a verification and evaluation system to determine whether a business is good. We'll open YouTube next week called scam or not. I will make it more transparent to the investors and make it easier to discern whether it is a scam or not. We are also building a Korean community and gain more popularity.

Taisia Kudashkina, who also wants to cooperate with Daily Coin News, says she wants to stay in Korea for more than a month and to find a Korean partner and build a community. She finished the interview by mentioning she would like to cooperate with the Daily Coin News.

 

 

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