Romain Prevost AKA Monk, Founder Of Orbit, Shares His Top Challenges In The Industry
June 22 2022, Published 6:09 p.m. ET
No business ever grew without overcoming obstacles. While some challenges may dominate a specific industry, business rivals can create other hurdles. The journey of Romain Prevost, who became famous in the crypto and blockchain space as Monk, is a perfect example here.
Since the beginning of his career, he has overcome a sea of challenges to disrupt the industry with his company Orbit, which has introduced a secured decentralized trading system for small investors.
Prevost is a French-born entrepreneur and crypto expert who grew up in Berlin and pursued a master's degree in business management in Paris. In Paris, he was first introduced to the world of yoga and meditation, which had a profound impact on him.
Prevost returned to Berlin to work as a waiter but lost his job at the beginning of 2020 due to the pandemic-imposed shutdowns.
During this time, Prevost was in huge debt to four banks and going through a breakup.
Meditation helped him regain his confidence and find clarity in life.
After deciding to pivot his life, Prevost started his first business venture with an online coaching platform for yoga and meditation. He wanted to impact people's lives by taking them through the process of self-discovery.
The venture failed, but Prevost learned the lesson of his life. He realized that he was yet to achieve anything big in his life to influence people to follow him and impact them.
That's when Prevost decided to venture into the crypto and blockchain markets.
Within a few months, he became renowned as Monk in the crypto world, learning the ins and outs of trading in digital currency.
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To escalate his newfound success, Monk launched the BabyCake reflection coin.
It was the first CAKE reflection token on Binance Smart Chain with massive redistribution rewards for holding that made some people really rich, and Monk walked away from it after a couple of months as a multi-millionaire.
Following the success of his first venture, Monk prepared himself to introduce something big in the crypto world that would disrupt the market.
He then co-founded Orbit in December 2021, which he is currently heading as the CEO.
Andromeda was launched to fill a gap in the crypto industry.
While trading crypto, Monk realized that there was a lack of an independent "middleman" platform on the market.
Andromeda is closing the gap as a secure trading platform for crypto traders. Initially, Monk faced a series of challenges when launching Andromeda. His company became the target of bots, rival companies, and shark traders who wanted to make a quick buck out of this new coin.
Monk neutralized the attacks by imposing a tax on selling Andromeda before a certain period to protect customer investment and reduce volatility. He later used the tax to refund affected investors, becoming a trusted name in the space.
Monk feels he has a long way to go to fully explore the opportunities the crypto world offers.
He plans to introduce a secured trading platform in the crypto space without any currency.
This will be a launchpad for traders to launch their projects, connect with a huge community, and carry out safe transactions. Through such an initiative, Monk is hopeful to scale his company into a billion-dollar empire in the coming months.