Kambiz Djafari, founder of the educational startup Edgecoin.io, believes that blockchain revolution is not far away. In the interview for Blockchain & Bitcoin Conference Cyprus, he told about the trends of the blockchain industry in Germany and the state regulation of ICOs in the country, as well as predicted the future of the technology. Furthermore, Kambiz Djafari touched the topic of blockchain development in Cyprus.
Q) Kambiz, you live and work in Germany. Please, tell us about the attitude of people to blockchain there. Are there any illustrative initiatives to integrate the technology in business, state administration?
KD) Yes. I live and work mostly in Germany. The awareness is increasing. Especially since the beginning of 2017. But the overall perception remains muted. Unfortunately the German society and also politics is always 1-2 years behind the rest of the world in terms of market adoption. The reason is that people in Germany are very cautious and embrace changes or / and new technologies only when all legal issues are resolved. And this is happening now.
Q) Research findings show that cards and e-wallets are replacing cash in developed countries. How common is this trend in Germany?
KD) The younger generations use cards and e-wallets. Older people still like to pay in cash. But the shift is inevitable.
Q) Do you believe that Europe will witness blockchain revolution soon? If yes, which industries will it change most of all?
KD) I think that blockchain has already widespread in Europe. Big companies are testing blockchain in and for their business cases. The noticeable revolution is not far away. Perhaps in 2 years everybody will have rolled out some blockchain based business. And I think the first movers will be financial services, automotives and education technologies.
Q) Are there any initiatives to regulate ICOs, cryptocurrencies, blockchain in Germany? Are there draft laws in this field?
KD) ICOs is not regulated yet in Germany. Just because of lack of ICOs in Germany until now. But since there are a lot of German ICOs coming up I think authorities soon will respond. I hope that they come up with regulations and no comprehensive bans as happend in China. This will endanger a new and very exciting ecosystem that can help economic growth. I do not believe that Europe wants to miss this one of a kind opportunity.
Q) Have you studied the experience of Cyprus in the field of blockchain implementation? If yes, what did you find to be interesting?
KD) I know Cyprus as an avantgarde market. And I know that Cyprus has advanced projects and companies in terms of blockchain technology. I know it is used in financial services and education is following soon in a joint venture with Malta. Since I am co-founding Edgecoin a start-up that wants to disrupt the education industry with blockchain technolgies I am very excited and thrilled about this development.
Q) Cyprus is a country that favors blockchain startups, many foreign companies work here. Would you like to relocate your business here? Why?
KD) My participation at the Bitcoin & Blockchain Conference Cyprus is also my first time in Cyprus. I hope to have the opportunity to speak with people and companies from Cyprus in order to obtain a better understanding of the economic pros and cons. If benefits are overwhelming I will consider a relocation.
Q) In the presentation for Blockchain & Bitcoin Conference Cyprus, you touch the topic of blockchain’s future. Will you tell us in short what should happen in the industry in 2018, in your opinion?
KD) I think that in 2018 politics will set up frameworks for the blockchain industry as whole. And this will bring certainty for the markets. This way last sceptics can and will see all of the benefits blockchain technology can provide. And how it is going to enrich our every day lives in terms of security and transparency. If this happens over the next 5-10 years we will see a paradigm shift that last was seen as the agriculture society transformed to the industrial society. The so called big transformation. 2018 and 2019 will be crucial years towards this development.