We introduce today the next guest of the column “Questioned by weiDex” — Nikolay Angelov.
Nikolay got into coding in early 2007 when he wrote his first mIRC script. Then he continued with Web Programming, PHP, JavaScript, and MySQL. A few years later Nikolay took a course about Blockchain and got really passionate about it. Since then he became both a Blockchain Trainer and a Blockchain Developer. His passions are Blockchain, Solidity, C++, Vim, and Blogging. We definitely recommend you to visit his blog in order to stay updated with the hottest topics in the blockchain world.
Currently, Nikolay works on different blockchain projects at Motion Software.
1. You are deeply involved in the blockchain industry. What are the benefits of the Blockchain that you most admire?
- The trust that is being enforced between entities while maintaining everyone’s freedom and the possibility that it brings to remove middlemen in various cases
2. How would you explain to your grandma what blockchain is?
- It is a distributed Book in which you can store any kind of information, but it has size limits on what you are storing and it is secured by Knitting of the information, which makes the information harder to be changed as you need to re-knit everything from the point of change while others will keep Knitting, which makes the process very hard and expensive.
3. We are still waiting for user-friendly and engaging apps built on a blockchain. When are we going to see the mass adoption of blockchain and how?
- It will take a long time. Most of the users are very spoiled. They are used to have Recover mechanics in everything…. From Recovering their Simple Password to Recovering their Documents and money. And as we are aware in the Blockchain we cannot really offer that which makes Blockchain adoption very hard.
4. What do you think is the biggest challenge for blockchain at the moment?
- Getting rid out of people that are hungry for easy money which is poisoning everything good around the Blockchain. After we get rid of them the Blockchain will be able to grow faster and healthier.
5. There is one keyword connected with blockchain and it is “decentralization”. Do you truly believe in the decentralization and to what extent you think it can be achieved?
- I am actually part of the people that don’t think that we need Full decentralization and I think that there is the reason that the humanity moved to Centralized types of structures while growing, so I would love to see some parts getting decentralized, but others remain the same
6. Despite talking about decentralization, we are currently going through a process of shaping up the regulations in the industry. Do you agree that we really need regulations and, if yes, to what extent?
- As I already mentioned I think there is the reason that Humanity grew and in most cases, regulations are good to think as long as they cover reasonable stuff. Most people don’t like them and other rules, but there many Countries with brutal Laws and punishments and are great places to live for example Singapore, in which you have death punishments, but does this make it a bad place to live? — Definitely No…
7. Why do the world need crypto (or why not?)
- It is a way too early to answer this question… We still don’t know what crypto really is… In my opinion, the entire thing is a little Baby… Many people think that it will grow up and become Policeman others says it will become Firefighter or a Nurse…. But in reality, it might just become Conman…. Let’s give the Crypto some time and guide it in what we consider the right direction and hopefully it will grow and become something we need.
8. What do you think will finally stabilize the crypto market (make it less volatile)?
- Repeating my self but definitely getting rid of the money hungry people who are doing everything in their power to manipulate and keep the market volatile for their winnings
9. Do you use DEXes (decentralized exchanges) to trade your assets and what is your opinion about them?
- Personally, I don’t trade, but in the rare cases that I need to exchange crypto, I definitely look if such trade is possible in Dex and if yes, I execute it there.
DEXes are a good thing but we need easier adoption for users in order to see them replacing CEXes. It seems that for normal users it is easier to just send their document ID and pass some KYC rather than actually learn how to use a DEX.
10. The community has recently come out of the crypto winter with great disappointment and doubt about the efficiency and the real purpose of most ICOs. What is the last promising and innovative ICO that you’ve come across?
- Sorry, but I don’t follow that kind of stuff and to be honest I am not aware of even a Single ICO happening right now… Let’s not mention a “good” one.
11. What advice would you give to the blockchain startups which have just begun their journey with great enthusiasm but a relatively small amount of experience?
1. Don’t rush it. Take your time, do an MVP and try to verify your idea.
2. Don’t be afraid of talking about your idea. Go out on and connect with
different communities and people and listen to what they have to say even if it
is against what you think… Consider everything with a clear mind.
3. Value the opinion of people that you don’t know, they will tend to tell the truth to your eyes more than your friends as your friends will just want to be
supportive and that might not be the best for you.
4. Don’t mindlessly thing that Blockchain will solve everything. Make sure that you need Blockchain and in case you don’t just consider continuing your
startup without Blockchain!
Thank you for your time!
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