It was an absolute pleasure speaking with Stoyan Angelov. Mr. Angelov is the founder and CEO at Evedo. The Bulgarian based platform aims to place the entire event industry on blockchain while eliminating middlemen. Evedo will be launching its IEO on April 16, majorly targetting Asia. Evedo has officially joined hands with BitForex exchange and hopes to raise $2.5 million to further develop their product. Stoyan Angelov spoke about Evedo and how he came up with the idea of placing the entire event industry on a blockchain in his interview.
What inspired you to bring the events industry on a blockchain?
All my life I was in the events and entertainment industry. I’ve always been passionate about technology and innovation. The thing that inspired me the most about to work on Evedo was an amazing opportunity where I could combine both my passions.
How did you get involved in the blockchain space?
My friends from another blockchain project – Aeternity inspired me. They introduced me to the field 3 years ago. I also became a part of another successful blockchain project called LockTrip, and with this project, I got really into the field. I became a true blockchain believer. Now I am 100% convinced that every industry will change inevitably with the help of blockchain technology.
What are the obstacles you think Evedo is going to solve when we talk about the events industry?
Evedo consists of B2B & B2C Marketplaces. They unify all businesses and participants involved in organizing and conducting an event of any size and sort. Leading players in the B2C Marketplace will be Organizers, Promoters and Attendees. The main functions will be to Buy/Sell tickets and market events to new or existing audiences
Our platform is an easier way to find new upcoming artists and talents. Evedo provides an easier way to book a venue straight away. Less stress when dealing with rentals and rental companies which are involved in the process. We believe that everyone has the right of one transparent process from both sides of this industry and evedo is the very one-stop-shop that can help.
To sum up, we are building the one and only solution — a unified platform that will structure all related parties into one decentralized ecosystem in a reliable, protected way via smart contracts.
Do you think that blockchain can actually streamline the events industry eliminating middlemen?
I think blockchain will be the technology that will help the entire industry to be more transparent and secure using smart contracts technology. With this being said, I genuinely believe that all middlemen will be easily eliminated. We will protect all the parties in the events ecosystem.
With the scheduled IEO of Evedo (April 16), What are your expectations from it?
At the current market situation, an Initial Exchange Offering simply makes sense, and our expectations are high but reasonable. IEO adds some protection for the investors who participate, as the token is already listed on an exchange and the exchange is somehow the middleman who ensures credibility and trust.
Most of the exchanges do heavy due diligence on the projects before they even consider their application for IEO. This is precisely what happened to us! We waited for more than 3 weeks just for the internal teams of BitForex to do due diligence on our papers, company incorporation, team, token, token economics, business model, etc. Right after that our application was processed and we started structuring when and how we are going to make it.
Are there any benefits that you are offering to early investors?
During the past months, we had an ongoing private sale which will end on the day of the Initial Exchange Offering. We are happy that so many people supported our project on such an early stage.
Why did you choose to do an IEO and not an ICO or an STO?
We can say that projects that issue an IEO have increased credibility, because of the Exchange that has their backs, so to speak. We believe the IEO model assures fewer scams.
What made you choose Thailand as the best place for you to work?
Our company is incorporated in Estonia, but our headquarters are in Sofia. Thailand has been a massive adventure for us and quite a challenging one! So far we have spent our time between Bangkok and the islands of Koh Samui and Koh-Phangan, and we literally skipped half of the European winter.
The reason for our journey was the acceleration program that we’ve become a part of. Back in November, during Blockchain Venture Forum in Belgrade, we met one of our early investors who loved and understood our project and decided to support us. He is hugely known in the blockchain space and has been working and investing in the field for the past 6 years.
Master Venture’s accelerator and VC are both based in Asia – Hong Kong and Thailand. The reason for our journey in Thailand was actually to work from here with no distractions, to shift our project and gain further connections and reputation in the blockchain community in Asia.
Why did you choose to name your product Evedo’? Does it have a story behind it?
Nice question! The truth is, we had 3 days of productive brainstorming on the subject with all the co-founders of the team. We decided on the name together. It just clicked.
Out of so many exchanges, what made you choose BitForex for listing your IEO?
Our CMO Elena Kalpakchieva and I were together on a couple of conferences in Asia. Through mutual contacts, we got introduced to the team of BitForex. We arranged a call quite quickly, and we decided to work together. Keep in mind, every credible exchange does due diligence on the projects that they work with. It was a long process before they finally approved Evedo.
How big do you think the IEO market as a whole could get?
It can get even bigger than the ICO market back in 2017. There will be one main difference though. When we think of the ICO wave from 2017 and 2018 we normally recall all the projects that were somehow fraudulent which led to a certain disappointment in the blockchain space in general. This will not happen now, at least not at a certain level.
Was there a criterion for selecting the core members of Evedo?
As every project normally starts, Evedo was found exactly one year ago following a magical idea and a cool concept. A true desire for better events and event organizing.
The whole team gathered very quickly and what was vital at that stage was that everybody possessed an entrepreneurial spirit to be proactive. Actually, it took us not more than a week to organize around the same idea and vision and gather “on the same page.” All of us wanted to explore and work closely in the blockchain field, as we are firm believers in the decentralized tech.
What are your future plans for the project?
We already released the Alpha version of our B2C marketplace. Our plan initially is to develop it worldwide using our early adopters. From a marketing perspective, as our CMO Elena says “the more, the merrier,” we will start tackling the US and Asian markets.
There is a chance that Evedo will be incubated in Asia for a certain amount of time this year. In Q4 we will implement the blockchain part of the project. In Q1 of next year, we will prepare global scalability.
Evedo is a world-changing idea. Evedo sure has big plans of revolutionizing the event industry by placing it on a blockchain. However, we will have to wait and watch as to what Evedo has in store and to what extent the project actually transforms the event industry.