Can you describe yourself as a person in a few words?
I advocate for blockchain technology and believe that education is the only way to mass adoption. I have been a part of the European blockchain community since 2017, participating in several successful blockchain projects, and the president of the initiative called Blockchain Alliance Europe since 2018.
What are some potential problems/challenges with blockchain as it stands now?
The main challenges are the lack of a regulative framework and standardization for blockchain technology. We are dealing with distributed systems with no central authority, which is why we’ll also have to rethink the conventional ways of regulation. At the same time, we’ll have to be careful not to kill new, innovative blockchain technology-based products. Our motto should be not to over-regulate and over-standardize but to establish “smart regulation and standardization”. That means we should not act from fear but knowledge and professionalism.
Can you give an example of how can governments support blockchain innovation and adoption?
Governments that are proactive and see the added value for their citizens in innovative technologies will decide on pilot projects that incorporate blockchain technology. For example, Slovenia executed a tender worth 72 million euros in 2018, partially dedicated to blockchain technology projects. Georgia is working on a blockchain-based land registry; the Netherlands has been involved in blockchain-based projects since 2018. Governments need to support blockchain-technology innovation with sufficient funding, evoking interest and professionals in the field.
What impact can blockchain technology have on society?
I sincerely believe that blockchain technology can lead us to a fairer, more transparent society since it shifts the trust from central authorities to the technology itself. If I simplify with the example: If we all paid taxes through blockchain technology-based payment infrastructure, the possibility of committing fraud would be close to zero. That fact enhances equality in society, renews trust towards governments and amplifies positive ethical standards.
Can cryptocurrency help the country’s economic growth, and how?
We all read about the case of El Salvador, a country that declared Bitcoin as its official ledger and is also publicly announcing its investments in Bitcoin. It remains to be seen how the story unfolds and how it will impact their economic growth. We have a pilot project in this field, and we’ll have to wait for the results.
What advice would you like to give to people entering this professional field?
Most people are getting acquainted with blockchain technology through various crypto assets. My advice here is to invest in what you understand, do your research about the projects and invest only as much you can lose. People that gained substantial wealth through crypto assets, Defi or NFTs previously dedicated their lives to researching these use-cases. They are professionals that worked hard, and their hard work paid off. Luck never or rarely had any part of it.