Roger Benites

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Roger Benites is a Peruvian technology enthusiast with a special interest in blockchain technology. He is the co-founder and CEO of Bitinka, a popular exchange in Latin America. [1]


Education

Benites studied finance at the Universidad Científica del Sur and obtained his Associate's degree from University of Belgrano. He also received an Associates degree in International Business from Universidad Argentina de la Empresa.


Career

Benites started his career as an Analyst at IBM, moving into Asset Management shortly afterwards. After a total of 4 years at IBM Benites became Managing Partner of BQ Trading Corporation which has RGM Camera/Accessories as one of its holdings—a company that Benites founded in 2011. [2]


In 2013 Benites became the co-founder and CEO of one of the most popular exchanges in Latin America, Bitinka.


Benites envisions a not too distant future where blockchain technology is ubiquitous. In an interview with Occurrency he said: [3]


In the 1950s, Diners Club was one of the first credit cards issued on the market. People could pay for goods using a piece of plastic anywhere. At that time, the first people that heard about the new payment method couldn’t believe something like that was even possible. But it became reliable because increasingly more trustees were adopting credit cards. With Blockchain technology, the exact same thing happened; at its core lies a mix between credit card made by banks and the Internet revolution. History repeats itself, so I would say that in the future, Blockchain will be used for a lot more. It’s gonna be the next use case, just like the credit card case. At some point, everything will be based on the Blockchain, particularly as far as smart contract usage is concerned. Probably in 10-15 years, something newer will enter the scene to revolutionise the world even more than Blockchain, the Internet, AI, etc. Regardless, at that point, Blockchain will be a global standard.

While Benites has said that he believes most ICOs are scams, he suggests that regulations could help reduce negative public perception of ICOs: [3]


More than 95% of ICOs unfortunately are a fraud. Why? Because they’re easy to do. There’s no regulation and people can raise money and then disappear. Personally, I think we need some regulations where companies have legal jurisdiction and legal employees. It is the only way to prove that a company actually exists. But they have to do it in a way where it doesn’t affect the ecosystem and how everything is developing now. Governments need to work together. They need to see that ICOs are the future of raising money for a startup. I believe that proper regulations will bring certainty and stability to investors. Given that anyone can contribute to an ICO and become an investor, some of them are not properly educated.


Even in a world without regulations, Benites believes that ICOs can make a positive impact: [3]


If a guy is from India, he no longer has to move to Silicon Valley. He can just as easily stay in India, create an ICO to raise money, and develop a potentially successful startup. And that’s exactly what’s happening right now. Thanks to Blockchain, everything is changing in the startup scenario.



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