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After a career in financial technology and cryptocurrency, Miroslav Vegh is an expert in both parts of the industry.
He was first involved in cryptocurrency about five years ago and had previously worked in the IT industry for two decades, with about seven years in advanced technology.
He describes himself as a "tech-freak, free thinker, eternal tramp for the best and blockchain-dependent". It's a good summary that shows a lot of self-awareness.
Visionaries
"I've seen both sides of the financial sector," he tells me. "Where there is a problem is in the beginning most of the people involved were visionary but since then it has only grown out of people who want to change the world."
Unfortunately in the last three or four years, cryptocurrency has been targeted by those who describe themselves as "criminals, scammers and scammers", as the price has gained traction and more and more people have begun to take an interest in cryptography.
Many Ico have disappeared with people's money for a variety of reasons, not all of them nefarious. "When the criminals realized they could make a lot of money, everyone jumped in," he says.
Wild West
"The regulators were not able to catch up and became a lawless space, like the Wild West crypt."
Now, while cryptocurrency prices continue to fall, despite the weakest of rebounds, it says that only "early adapters and people who believe in cryptography will follow it".
The sniffer element of the currency of your Dilig.io website is already live, with the rest of the site being launched. It will provide an international database of ICO cryptographic frauds and a bitcoin transaction tracker, for the benefit of those who have been previously cheated.
The data on the site can finally be used to recover the money. With the sniffer element of the coin, he can literally smell rigged coins.
"One of the most important laws is that you can capture scammers retroactively," he points out. "Even five or ten years along the line, because the blockchain can not erase that information, ever."
Too expensive
The problem at the moment, says that no law firm will take action against someone who has stolen, say the equivalent of $ 10,000 because the criminals work internationally and "it is too expensive for them to pursue."
The ICO fraud database that it is establishing will be free to use and is there for people to report fraudulent activity. If a large number of investors make claims against the same company, it will eventually become "economically viable to prosecute the perpetrators," he says that the sums involved will increase considerably to several million dollars.
Realistically it does not expect it to be an instant and night-time success and says it will take time to build the site. Eventually he provides a subscription service with a modest payment of around £ 10 a month to access the reports.
It is likely to appeal to both small and medium-sized businesses and investors.
Vegh says that at the moment there is only one company that does something similar at the moment, but on "a much smaller scale in France and only deals with fraud in France – while it is an international problem".
Paranoid
"Investing in cryptocurrency can make you rather paranoid about investment security," he admits. "I was scammed – and some of the scammers are extremely good at what they do."
It gets rather annoyed that "the people who work hard in jobs 9 to 5 who are doing their job to get something and make the world a better place are being targeted by these cheaters who do not care about anyone".
Their only goal, he adds, is "to take money". They would do it from a dying child – they would do anything. "
By creating his site, he is making "a little harder for bad people" to operate in space.
The long-term goal of Dilig.io is to create a system that governments and regulators will find useful and will help to encourage them to act when they encounter problems with fraud.
"Overwhelming Trial & # 39;
It should provide "concrete evidence" for the law firms that prosecute fraudsters, is the maximum ambition. It wants to be live by the end of the year.
Vegh wants to make blockchains and ICO simple and transparent and hopes to help "shape the future of cryptographic technology and fins".
The current state of cryptocurrency markets is a cyclical pattern that repeats every two or three years. Emphasize that: "Bitcoin has already died 200 or 300 times already.
"The people who scream and shout that the crypt is dead are not investors and they are not educated".
