Why an accountant holds CTSI
By: Nathalie Brahler
Tags: Cartesi, Accounting, Ctsi, Cryptocurrency, Staking

Why an accountant holds CTSI

When an accountant holds CTSI, it’s time for an interview. Accountants do finance reports, budgets, tax returns, and accounting records. They provide their clients with financial reports that feature present and prospective trends in their financial situation and they have the reputation of being risk-averse. So, I asked him: what is the main reason for an accountant to hold CTSI?

Joe Tang / @joecwtang is a Dutch chartered accountant, specializing in crypto. He started his career in a large and traditional accountancy office, before joining KPMG where he first heard about blockchain and how it potentially could make accounting more efficient. Flashforward to today, Joe is now the co-founder of NEO, a small accountancy firm that offers accountancy, fiscal advice, payroll accounting, and consulting. His business is going so well he’s not taking any new clients at the moment.

I asked Joe when he started venturing into the crypto space, finding he began his journey in 2017 — at the time only wanting to see if blockchain tech could increase efficiency in accounting. In the Netherlands, companies took a hard hit during the 2008 financial crisis and it was not until 2017 that things started to turn upwards. Joe: “During this time, companies were unwilling to invest in making their accounting more efficient through innovation — they were still recovering from the crisis.”

It was only recently that Joe began holding crypto of his own. Asking how he determines which projects to support, Joe replies, “When it comes to crypto, I never participate in meme coins or dump projects. There must be a strong product or community behind it.” If there isn’t? Joe shakes his head, then he simply isn’t interested. When he first heard about Cartesi, he thought: Linux with blockchain? Cool. “For me, Linux was the trigger to dive deep into researching Cartesi, CTSI, and getting to know the community supporting the project”.

“Connecting to Linux is potentially big: 99% of all our devices are (in)directly running on Linux. I realized what the future power of Cartesi is.” @joecwtang

From what he found, Joe is optimistic about Cartesi’s future, “winning Linux devs over to blockchain won’t happen overnight but I’m doing it for the long term.” Currently, Joe’s staking in a pool with Noether’s Delegated Staking to help secure the network and earn rewards on his CTSI. Having only recently launched staking on Mainnet at the time of this interview, it was great to hear him getting involved in staking CTSI with us.

He doesn’t use his CTSI for payment: “I didn’t realize you can pay with CTSI until I heard of Travala accepting CTSI. But I do prefer payments with fiat money because that loses value.”

In the Netherlands, lessons have been learned from the financial crisis and monetary policies are well-arranged, with built-in buffers overseeing the borrowing of money. But for Joe, it’s just another way to continue to print money. Global monetary policy, how money is being printed and inflation rates are subjects Joe thinks the government needs to take action against. Asking him for some final words to share with our community, or anyone who might be interested in venturing into crypto, Joe has this to say:

“I never give investment advice, but I do share sometimes my experience. I say to customers who keep their money in the bank: do something with your money, anything is better than a savings account.” @joecwtang

Want to hear more from Joe? Follow him on Twitter:

If you enjoyed getting to know why different people hold CTSI, stay tuned for more in our series! We’re shining the spotlight on our community, chatting to everyone from futurists to independent business owners on what attracted them to Cartesi and why they’re holding CTSI.