My name is Harutoshi Tsuji and I am the CEO of BtcBox co.,Ltd. I entered the company last year in August, and was appointed the position as the CEO as of May, 2019.
Thus far, I have worked in the banking industry for 22 years, and 15 years in investment securities. I have experience as a derivatives dealer, foreign exchange dealer etc.
When did you know about Cryptocurrency?
The first time I heard about it was in 2014 when the news about Mt. Got was released, however, I did not fully understand it as a professional occupation until the establishment of a second type securities business company in which I took part in it as the internal supervisor.
At that time, issuing cryptocurrency and conduct fundraising, and also raise money easily with ICO was popular. No one was questioning the white paper content, and to tell the truth I had the impression of it being very suspicious. However, I thought that it was ground-breaking how it had gathered a great sum of profits on the internet in no time , and I understood that a lot of people thought of it as convenient. For the someone who has been in the financial industry for a long time, it felt like rivalry to me.
How do Cryptocurrency and Foreign exchange rates differ?
What I actually did feel at the time when I was a foreign exchange dealer was that, currency in itself is a very ambiguous thing. Its increasing or decreasing value is decided by its demand balance, where only one part of demand can be confirmed by statistics acquired by real economy.
However, when that number becomes ten times more hot money (capital working on speculation) and enters the market, it will be extremely difficult to comprehend the whole of it accurately.
What is money to you as the CEO?
There is the concept of Purchasing Power Parity (PPP) theory, however I feel like evaluating is an irresponsible utterance. For me money is “the Value for Living”. If we take the Big Mac index as an example, when it comes to actually purchasing something abroad, “carried value” of the item is being thought of as money being the items essence. Therefore, when I heard the news about being able to use cryptocurrency at Big Camera, I became very interested.
Nevertheless, since a big economical system is necessary between a currency and an item, using cryptocurrency exchange many problems have increased. Currently, I am constantly thinking about how to distribute and use cryptocurrency that is nothing more than a speculation target.
Thinking in a simple manner, by conducting peer to peer settlements, it will reduce costs. Concurrently, many people using the so called Cashless are able to do settlements first after institution starts existing like a bank. Cash from banks have become a support backbone structure, and does not really mean “Cashless” as it says. In contrast to this, as cryptocurrency does not necessarily need a legal currency for exchange, and if we could use it as an intermediate by global distribution, we could complete a world peer to peer settlement.
In order to make this dream of global cryptocurrency distribution a reality, especially if we pursuit how settlement networks are going to be constructed, I feel like cryptocurrency will become a very valuable.
It has only been less than a year since I entered the cryptocurrency industry. Until now, I have been working in the maintenance of internal control management. From now on, if I cannot work on promoting the internal control functions, and if I do not acquire new knowledge of earning power as a general corporation, the corporation will not be able continue to exists and its circumstances will become severe. Now, in this industry, where handling fee is 0% has become the ordinary, a new generations business model is demanded and necessary for financial institutes to exist. I think that in a place where we are not finding a new advanced model, all of us as the staff have to combine our strength and intelligence in order to create the next generations model.
【The Sanwa Bank, Limited】
1979 International Market and Exchange dept.
1983 London branch Section chief of dealing room
1989 General Manager of International Market and Exchange dept.
1993 COO and Deputy President of Sanwa Financial Products Ltd. (UK)
1997 Capital markets department Senior Investigator
1999 International Market Department System Planning Office Manager
【Mitsubishi UFJ Morgan Stanlay Securities Corp.,Ltd. MUMSS】
2002 UFJ Tsubasa Securities General Manager of Compliance Department
2002 UFJ Tsubasa Securities General Manager of Risk management and Compliance
2005 Mitsubishi UFJ Securities General Manager for Accounts and Finance Devision
2008 Mitsubishi UFJ Securities General Manager of Financial Planning Division
2010 Mitsubishi UFJ Securities Holdings Genral Manager for IFRS Project Management Office
【Big Fund Inc.】
2018 Director and General Manager of Internal Control and General affairs
2018 General Manager of Compliance Department
2019 Chief Executive Officer