If you didn’t read part 1 of this Blockchain interview, then click here to read it. We interviewed Pascal Tallarida and Orlin Benov, and their answers was very interesting to say the least. All of the answers that the experts gave on the blockchain interview are different, so you can learn from these experts’ experience and see multiple points of view. 

Alex Bozhinov

Born in Saint Petersburg, Russia. He graduated BSc International Business & Management from Hanze University (The Netherlands) and then joined the CEMS Dual Master from University of Prague & London School of Economics. After his Masters degree, he joined Google as a Sales Manager for AdWords. He is a veteran of business development, growth hacking and zero-cost marketing (organic marketing).

1. What are your thoughts on the Internet of Things? Do you think that it will revolutionize a lot of industries and what is the role of IOTA in it?

Alex Bozhinov: I believe the crypto-craze is one of the reasons for IOTA to be so popular and as the hype decreases, IOTA will become less and less publicly visible. There are constant talks about a revolution in the news and on social media, however it’s similar to how Linux created a buzz 20 years ago. The general public might never get to know about this technology as it’s not really televised. Linux (and Stallman) built a framework. An open, free, flexible platform that anyone could build on top of. I think IOTA is as well. My guess is that in 20 years 90% of what IOTA is and does will be invisible to the general public, except for those in specific industries.

2. For now, cryptocurrencies are too volatile to be used as currencies and are functioning more as securities. Is stability the missing factor on the road to mass adoption, is it something else or they will never be viable as currency?

Alex Bozhinov: Banks are adopting blockchain as quick as they will, however they see suburbanized cryptocurrency as threat. All third parties (banks, credit cards, lenders, etc) are vulnerable by the likelihood of users not needing them in an exceedingly peer-to-peer world. They are clinging to the centralized system to retain power.

Countries that retain power through cash, cryptocurrencies are a threat to the present centralization of power. We tend to seeing some countries’ (like Russia) interference with currencies like bitcoin, whereas adopting a national cryptocurrency (cryptoruble). China seems to be following suit. Japan already proclaimed the “jcoin” as their national cryptocurrency.

Usability isn’t there (yet). It’s sophisticated to shop for cryptocurrencies, move it around, exchange it and store it firmly. The typical person doesn’t need to travel to AN interface and appearance at securities market mercantilism to maneuver their cash around. Taxation are some things that must be thought about. Cryptocurrencies within America don’t seem to be thought-about cash, they’re thought-about AN plus.

Therefore, taxes get pretty complicated once you create a great deal of trades. (i.e. each sale may be a nonexempt event, you would like to possess a USD conversion for the worth of the profit/loss for every sale, etc.). Corruption is a key factor too. The system is rigged within the favor of the made and powerful. A suburbanized system takes away that power and shifts it to the lots.

3. In your opinion, which two cryptocurrency projects are underrated and which two are overrated?

Alex Bozhinov: Stellar, Cardano & YUP are the quietly waiting giants. Tron is in my opinion overrated.

4. More and more financial institutions are entering and investing in the cryptocurrency industry and blockchain technology. Will the banks ever endorse cryptocurrencies like Ripple for their financial operations?

Alex Bozhinov: Banks see worth in Ripple’s resolution thanks to two reasons. Firstly, the cash saved by exploiting XRP and Ripple will drastically increase the bank’s profits. Second, Ripple’s wonderful technology allows banks to supply their increased payments services to their purchasers, serving to banks releasing capital for different business activities and growing larger. Adopting the app on your phone or employing a card or the crypto automobile exchanges within the background.

Therefore, all the users must do is “spend” it, it will be additional wide adopted. Each country has their own rules, creating access to numerous exchanges and currencies tough or not possible. Nevertheless, there is not an honest “currency” within the crypto world. Yes, Bitcoin and plenty of others are a currency, however the fees and transaction times are not ideal to be a real currency. Get a cup of low with Bitcoin, the dealings fee is adequate to 15$. Bitcoin creates an important store of value, like Gold that is for every day purchases. Metal and a few others are presently cathartic solutions that will make crypto a viable currency.

Blockchain interview: My final thoughts

This Blockchain interview was so interesting, because all of the speakers have different backgrounds and experiences, but all of them are educated experts on cryptocurrencies and blockchain technology. The best part is that all of them gave different opinions on the subject, so we could see different points of view. The development of blockchain technology and the cryptocurrency industry are fascinating and exciting.

I personally think that blockchain technology will be part of our everyday lives and will affect a lot of industries. The transformation has begun and many businesses feel that they have to adapt so they do not fall behind. Of course, there is a lot of speculation, as we are a part of the revolution and many people don’t understand this. It’s like the early days of the Internet bubble. Weak regulations, a lot of things happening at once and a lot of misinformation.

That’s why, it is best to have your own opinion on the subject, but learn from people’s experiences. We, from team Coinstaker, are always striving to bring you current information, educational but simplified guides, expert interviews, blockchain and cryptocurrency related news. We are grateful for you, and will keep providing the best quality content, news and blockchain interview for you, our readers!

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