An interview with Lady Chi of the Crypto Race Track
HYPERBITCOINIZER: What is the Crypto Race Track?
LADY CHI: Crypto Race Track is like a Formula 1 race, but instead of physical race cars, you watch cryptocurrencies racing in real time, in the form of futuristic “Formula Crypto” speed racers. They move at the same speed as their price in real-time global markets. The crypto asset with the best performance wins – which means: the one that has the highest yield during the time of the race. Crypto enthusiasts can bet on which speed racer will win the race.
They can also own racing teams. For example, if you own Team Bitcoin, you will earn money every time Team Bitcoin wins a race. Fans can also acquire the CRT HOUZ token, and thus earn a slice of the betting profits.
How did the founders get the idea for it?
We began to trade stocks at a really young age. Before we started to make money, it took us many years of learning, analyzing charts, making mistakes and losing money. When we got into crypto, we wanted to make trading a fun experience, without so much pain and time invested.
On which cryptocurrencies can one bet?
When we launch you will be able to bet on the most well-known cryptocurrencies: Bitcoin, Ether, Binance, Cardano, Polka Dot, Solana, Doge and Shiba Inu. In the future we will include more cryptocurrencies, as well as other asset classes such as stocks, commodities, and indexes. We also plan to launch races with brands and social influencers, their racing speed will depend on how many real-time “likes” they get on their posts.
On which blockchain is the CryptoRaceTrack built? Why this one?
It is initially build on the Binance Smart Chain because it’s fast, cheap and supported by Binance, the leading global crypto retailer. We use several of their services to enable some of our backend functionality, like swaps and data feeds. In phase two we will become multi-chain to cater to our customers´ preferences, and to further decentralize and mitigate the risk of our operations.
What can be the impact of projects like CRT on crypto mass adoption?
People want to be entertained, they want to participate, and they want to connect. Web 3 and Blockchain technology can create a seamless backend to enable these aspirations. Crypto Race Track allows crypto enthusiasts to have a fun and exciting racing experience. It is a new way of looking at cryptos competing on the market, which makes it more accessible.
What does it take in general to reach crypto mass adoption?
Crypto adoption should be fun and easy. The main driver for adoption is education. When people understand the benefits of decentralization and learn about using cryptocurrencies and DeFi services, adoption will naturally happen, especially among the younger, more tech-savvy generation.
What are the biggest obstacles on the way?
I think that the road of adoption goes through the valley of co-existence between the fiat world and the crypto world. We can see banks going into the crypto business and crypto retailers getting banking licences. This road will be full of potholes, deviations, and setbacks. Of course the incumbents will resist to lose their power. But those are normal obstacles for any revolution.
A last, personal question: why do you have fur on your face?
I am a genetic cross-over between a human being and a cheetah, which is the fastest mammal on this planet. That is quite unique, so the founders of the Crypto Race Track invited me to join their team and become their furry spokesperson for the media.
Interview by Aaron Koenig
Disclaimer: the editor of this blog holds some CRT governance tokens which he received as payment for creating their explainer video.