Tom Garber. Founder & CEO of COINDAQ

Speak to Tom Garber and you will quickly find out what he thinks of the current blockchain and cryptocurrency environment. The term wild west is his favorite way to describe it and that is why Garber has created COINDAQ. Garber’s blockchain based financial ecosystem was developed to take away the uncertainty in such an uncertain area.

COINDAQ is about to take cryptocurrency exchanges into a new generation. The biggest difference in COINDAQ and its competitors is its users must stay compliant with financial regulations. Garber believes this will put an end to the wild west days of cryptocurrencies and influence more people to invest, buy, sell and trade in them. COINDAQ also allows its users to trade international and it breaks down the barriers that traditionally exist in the financial world.

Totalprestige Magazine caught up with Garber to find out more about COINDAQ and how it will usher cryptocurrencies into a new, more transparent world.

Tom, can you please tell us about COINDAQ?

With COINDAQ we’ve created an international blockchain based financial ecosystem called “CDAQ”. It changes the way companies go public and investors invest in companies, offerings, financial instruments, stocks and other forms of securities. Through this compliant and regulatory based ecosystem we’re bringing companies and investors closer together and eliminating this current wild west experience which is occurring right now in the crypto world. We’re doing so by taking certain measures that enable us to bring transparency, compliance and security to this rapidly expanding IoT blockchain world through proof of identity, company profiles, certain mandated reporting obligations, and press release requirements, just to name a few.

Our aim is to launch the next age of the financial markets in the way we envision the future to be. Five to 10 years down the road, we picture a world where the traditional underlying technology for stock markets will be based on a blockchain international ecosystem. The last revolutionary boom in consumer technology was stemmed from the way we access information, the Internet. This paved the way for smartphones and some of the largest tech companies we have ever known. I believe that this new wave of blockchain based tech will eventually be even greater than that of the Internet boom, as it changes so many aspects of our lives and not just how we access information. Everyone who is apart of the CDAQ project all firmly believe in this and our plan is to stay ahead of this next major revolution in technology.

What have been some of the company’s highlights?

The CDAQ Ecosystem is still under development. However, I’d say some of my favorite company highlights to date have been the ability to bring together a great team who believe in the project, and seeing our idea become a reality as we enter the Beta stage of developments. It’s also exciting to hear the amount of positive enquiries, and feedback from companies and potential issuers who have taken interest in becoming listed on the CDAQ once we have reached the final launch phase.

Please tell us what led you to develop the COINDAQ Platform?

Two main factors led me to the original idea behind the creation of the CDAQ. The first was to address the wild west type of situation we’re currently experiencing in the blockchain world with cryptocurrencies. Investors need a safe avenue to start their due diligence from and legitimate issuers needed a way to separate themselves from all the fraud and chatter running around. The other major factor was to bring modern day stock markets up to speed with technology, and thus, allowing a safer environment that’s more transparent than the current technological framework in which the markets are currently built.

Why did we feel the need to step up? Well, recent developments in the digital currency market have been massive. A lot of investors, even those without knowledge about the market, want to be involved and harness the benefits that this asset group has. However, the lack of regulations in this new type of market has seen many suffer losses as their investment in crowd sales and ICOs are lost through hacking or fraud from the project developers. The lack of proper regulation means that these investors cannot make educated investment decisions regarding blockchain based issuers and projects. Therefore, there needed to be a way in which investors and other players in the market can verify the authenticity of an issuer and also track their operations.

Currently, in the realm of digital currency, complete lack of regulation make offerings and trading surrounding digital assets, tokens and ICOs resemble that of the wild, wild west. This leaves the ability for people to create “dark shadow offerings and companies” to essentially defraud the unbeknownst and unprepared investor. To date hundreds of millions of dollars have been stolen through various scams and fraud schemes which have taken place due to the major lack of regulation and transparency, which has been required by securities and IPOs to help investors make educated and informal decisions with their finances when it comes to investing and backing blockchain based tokens.

To date, there have been dozens of frauds, scams and ponzi schemes which could have been easily prevented if these offerings and tokens had been pre-screened, verified or audited by a certified group. Hacking events reported from various tokens and also scams where the founders disappeared with the raised funds further prove that there needed to be a compliant blockchain based ecosystem created to bring a level of transparency and security to this new wild west type of era. Such a move we believe will protect investors from loss of funds and also give them an assurance that their investment is in the right place, and not in the hands of some dark shadow company or crook out to make a quick buck.

Tom, how does the COINDAQ platform benefits its users?

The CDAQ ecosystem benefits two main parties: the investor and the issuer. COINDAQ enables issuers to separate and distance themselves from illegitimate offerings and fraudulent blockchain projects. It instantly brings a level of trust to the investor communities. In a very similar structure as to how the largest stock indices like the NASDAQ work in today’s financial markets compared the non-reporting smaller markets such as the grey sheets. After all, how can one make an informed decision with their investments if the project or issuer they’re wishing to invest in is not transparent? Also, if you do have a viable project and legitimate company, would you really want to stay mixed with all of the chatter when there is now a way to separate yourself? I think not. Traditional financial markets already prove that.

On the other side of things, issuers and projects listed on the CDAQ must adhere to an approval process and are mandated to comply with certain reporting obligations. COINDAQ creates a safe environment for investors and traders of ICOs, IPOs, utility tokens, blockchain based assets and equity tokens. In turn, it allows investors to have a sound platform to begin their due diligence, and make informed and educated decisions with their finances.

The platform itself has a lot of really cool features that technology surrounding the current stock markets are not really capable of incorporating. For example, real-time large account holder tracking and reporting, fractional buying of securities, completely preventing and eliminating naked short selling, decentralized shareholder ledgers which can never be cheated, 24-hour trading without the current time constraint of the operating hours of Wall Street. The CDAQ allows for international trading of securities, so no more complicated geographical barriers.

Tell us about the COINDAQ CDQ Token?

We recently announced that we’ll be engaging in a token offering soon. The CDQ is not just some useless token. It offers value on a number of levels. The CDQ will be freely tradable on CDAQ’s regulated exchange and used as the primary currency of the trading and smart contract platform. Token holders will be able to use CDQ to purchase new issues of IPOs and ICOs on our exchange platform. Issuers can also easily create many forms of financial instruments, options, and rewards off the CDQ smart contract. These include investment funds, digital assets, securities, employee stock options, rewards and more all on the COINDAQ platform.

The CDQ also has a very neat profit sharing bonus incentive. To improve user involvement and exchange vitality, we’re going to implement a profit sharing incentive bonus which equals 50% of the total trading fees charged by the platform to users who hold CDQ in their accounts. Did I mention our planned buyback program? Ten percent of exchange profits will be used in a monthly token buyback program, and tokens which are bought back will be burned until the total supply is only 50 million tokens. Users can also earn profit on the trades of everyone they refer. Users can invite others via their invitation code. Those who have successfully invited others to trade on CDAQ can share the invited person’s trading service fee as a bonus.

Please tell us how companies can get listed and who qualifies?

Firstly, a company must contact us for an application. From there, we began initial due diligence and ask them to include in their application a proof of identity, a complete company overview of the business and history, and certain financial reporting obligations. We even require a token audit report, so that we can be sure the token smart contract itself is in fact secure. Both utility tokens and security backed assets and issuers can apply to be listed. Utility tokens must not only meet certain transparency and reporting requirements, but they must also have a viable product that brings real use to the world. Security tokens must conform to the standards laid out by the SEC in regards to traditional security based offerings in both the initial and ongoing since. The majority of the major stock exchanges around the world automatically accept dual listings of issuers who have already been approved and vetted by the SEC for an offering and have met SEC standards and reporting obligations. We decided since our aim is toward creating an international financial ecosystem, that to satisfy the various government regulations surrounding securities, it would be best to have security based issuers conform to the standards of the SEC in every way that a traditional issuers on the NASDAQ is required to do.

Tom, what have you learned about yourself while running your business?

Throughout the years, I have learned one main thing through the ups and downs. Your biggest hurdle is your own mind and once you let your worries go and push through the uncertainty, you’ll eventually come to the reality that if you believe, than anything is possible. When you finally realize, it’s one of the greatest feelings in the world.

What is the most challenging part of your work?

Sometimes having everyone look at you for direction, knowing yourself that you may not have all the right answers. But if you are in a position of leaderships, it’s not about knowing all the right answers. That would be impossible. It’s about making educated decisions and pushing forward without doubt. When people look up to you, you have no room for self doubt, make a decision and push forward with confidence. You’re own demeanor is absorbed by those around you, so if you ever doubt yourself than others will too.

Tom, were you ever influenced by other entrepreneurs?

Yes, Elon Musk and Steve Jobs. Both may have been from slightly different times of opportunity, but both had dreams, saw a vision and pushed for their dreams, in turn molding the world around them. Anyone who dares to believe and pushes for those beliefs is always admirable to me. It’s only the disruptors and the dreamers who have the power to change the world and these two individuals have always inspired me because of it.

How is a day in your life?

A single day is never boring. I wake up before dawn at usually 5 a.m. and start working right away. There’s always work that needs to be done and I’m there to make sure it does. Typically, I start my morning with a cup of coffee as I began responding to emails, overseeing our development team making sure the milestones are properly met, and handling conference calls as I also juggle the day-to-day operations of my advisory firm. As you can imagine, I stay pretty busy and not a single day goes by that I feel is ever wasted

What makes you smile?

Seeing those around me happy, in good health and doing well.

What scares you?

For the most part, there’s nothing in this world that scares me. I’ve been through and seen a lot already. The only thing that scares me is God.

What has been your greatest achievement?

Achieving a sense of financial freedom in my late twenties via the success of my advisory firm. It allowed me to travel, meet amazing and inspirational people. It took me to levels I had only previously imagined.

What is your secret talent?

I’d say if I were to label myself with a secret talent, it would have to be the ability to motivate and push those around me to reach their full potential and climb ladders which they never thought possible.

Which historical figure do you most admire?

The person who I admire the most and always looked up to was my grandfather. He was a truly amazing man. He traveled the world for the US State Department and did things you only read about in story books. He was a very admirable man who was respected by many several royal families and political figures. I try each and everyday to live up to his standards.

Do you have any hobbies?

I enjoy helping people. I love to rock climb, traveling and meet new faces. The world is a very interesting and exciting place, and there are a lot of interesting stories out there if you just take the time to listen. Offshore fishing has to be one of my more favorite hobbies. The one thing that I consider a hobby that I enjoy the absolute most out of everything else is starting new businesses, engaging in ventures and watching the seed of an idea bloom from just a vision into a fruitful and successful reality.

What are you never without?

I’m never without close family and friends. I feel having a strong network of support and love around you is one of the more enjoyable aspects of life. Because of it, I try to never take life and those I love around me for granted.

Can you share two of your favorite quotes with us?

“Only those who dare to fail greatly can ever achieve greatly.” – Robert F. Kennedy

“Only put off until tomorrow what you are willing to die having left undone.” – Pablo Picasso

What have you sacrificed for success?

At times, I have sacrificed and risked more than I realized. Starting a business is not an easy thing to do. Focusing on a set path and never steering from it will drive some of those around you crazy. Perhaps over the years, I have missed out on good relationships and most certainly a lot of fun in which it seemed my friends were having while I was working late nights and focused on building my business. I’m single, so perhaps I missed out on the love of my life? Are you out there somewhere? If so, I apologize if I ever overlooked you by not going to a certain event where we may have met. I apologize.

What advice would you give to anyone starting a new business?

Dream big and go after your dreams. Never let the side chatter or doubt weigh you down. If someone tells you that you can’t do something it’s because more than likely they feel can’t do it. You may reach hurdles as you progress toward success and your dreams. But along the way, the biggest enemy will be yourself. Never doubt yourself for one second. There’s no such things as failure, only lessons. It’s no coincidence that the most successful of us will circulate one main seemly redundant opinion. Although as redundant as it may be, it’s also equivalently valuable and that is to never give up, never stop pushing and never perceive a hurdle as failure, only a lesson. Just keep pushing, keep reaching, keep learning and one day everything you envisioned will come true. Intelligence and wealth isn’t the main factor for success. The main factor is sure will and belief in yourself. The belief that one day everything you envisioned can and will become a reality. The road to success is never straight and always jagged, expect a wild ride.

For more information on Tom Garber, please visit https://coindaq.co/.

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