This is a new cool series of articles coming up on our blog. We interviewed our team members, advisors and special guests on some of the hottest topics in the blockchain. Let’s see together what they have answered to our tricky questions.
The opening guest of our new series is Tito Titov — the CEO of weiDex.
Tito Titov has extensive experience as a full stack developer. He has always been enthusiastic about technology and innovation and took a bachelor’s degree in Computer Science. Driven by the communication and cooperation with bright and open-minded people, he became an assistant professor in Technical University Sofia teaching Database Fundamentals. After 4 years at the university and plenty of experience in different software companies, he rediscovered the blockchain and its full potential. Since the beginning of 2017, he has been actively reading, learning, coding and playing around in the blockchainverse. In 2018 he became a co-founder and CEO of weiDex with the aim to provide the most advanced decentralized exchange for the community. Since then he is constantly participating as a speaker and blockchain expert in different forums, conferences, and events connected with blockchain and tech innovation.
You are deeply involved in the blockchain industry. What are the benefits of the Blockchain that you most admire?
- Yes, I am into the sphere since early 2017. I fell in love with the blockchain once I started using it. The top three benefits that I highly appreciate are:
- You have your own bank and financial freedom in your pocket
- You can interact with anyone in a transparent, secure and deterministic manner
- Blockchain is a better and more security-focused internet with built-in payment functionalities
How would you explain to your grandma what blockchain is?
- Blockchain is like a recipe book. You could add new recipes, but you cannot remove the previous ones, because they are written with a pen. If you lose your recipe book, you could take one from your neighbors, who has exactly the same recipe book, because you watch the same cooking show, therefore you have the same recipes in your books.
We are still waiting for user-friendly and engaging apps built on the blockchain. When are we going to see the mass adoption of blockchain and how?
- The mass adoption goes hand in hand with education and support from the government.
Another thing that is required is big tech companies with millions of active users to jump into the blockchain. I, personally, do not like Libra, but they could help us with the second problem.
What do you think is the biggest challenge for blockchain at the moment?
- Scalability and interoperability are definitely the hardest technical challenges in the current blockchain ecosystem. The other problems are user adoption and go-to-market strategy of the existing DApps.
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 truly believe in decentralization and in my opinion, this is the only way for us to keep our privacy, digital identity and to rebel against the tech monopoly giants.
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?
- I think we need some general rules and legal frameworks but we have to take in mind the technical nature of the blockchain as well. You cannot put KYC on any Bitcoin or Ethereum address — it is like giving public access to my bank account to anyone in the world. At the same time, we should not tolerate drug markets or any other illegal dark markets.
We should find the balance somewhere in-between.
Why do the world need crypto (or why not?)
- We definitely need crypto in order to lower the taxes and to improve the value transfer speed together with the user experience. We also need blockchain in order to rebuild the broken internet.
What do you think will finally stabilize the crypto market (make it less volatile)?
- I think the answer is mass adoption and as many cryptocurrency owners as possible. The more users and value we have in the blockchain ecosystem, the more stable the market will be.
Do you use DEXes (decentralized exchanges) to trade your assets and what is your opinion about them?
- I use only one and it is called weiDex :)
I am a big fan of Uniswap and Kyber Network as well. I believe that in the next 2–3 years, DEXes will be the mainstream.
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?
- To me, BitTorrent and Enjin both look promising.
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?
- Keep building and follow your vision and ideas!
If you need more information you can find us on:
Website: https://weidex.market
Exchange: https://app.weidex.market/
Discord: https://discord.gg/wsytkas
Twitter: https://twitter.com/weiDexExchange
Facebook: https://www.facebook.com/weiDexExchange/
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