We asked blockchain and cryptocurrency industry builders what they think of the industry…and threw in some random jokes to keep them on their toes!
This week, our 6 Questions are going to Dominik Schiener, co-founder of the Iota Foundation, a non-profit organization, and creator of the Tangle, a multidimensional permissionless distributed ledger designed as the basis of a global protocol for all connected things.
Dominik Schiener is co-founder and chairman of the Iota Foundation, one of the largest and greenest cryptocurrency ecosystems in the world. The Iota Foundation’s mission is to support research and development of new distributed ledger technologies, including the Iota Tangle. Raised in Italy, Dominik oversees the partnerships and the overall realization of the project’s vision towards the machine economy. He is a strong advocate for transparent, research-based and community-vetted developments in the cryptocurrency sector.
1. If you were investing in startups right now, what kind of blockchain-based business opportunity would catch your eye?
I would go all out for startups focused on the intersection of Web2 and Web3. We are in a transition period that is going to last a long time, and accepting this ongoing transition is both financially and technically smart. The companies that help the centralized world move to the decentralized one, and vice versa, are the present and the future. This includes crypto banking, fiat gateways, NFT markets, etc. The biggest barriers to adoption are user experience, not scalability. Focusing and investing in UX is the path to mass adoption and into the new world of Web3.
2 — Which people do you find most inspiring, most interesting and most fun in this space?
I am drawn to people who have endured and overcome hardships in their personal and professional lives and have become more capable leaders as a result. Naturally, I am inspired by people like Vitalik Buterin within the crypto space, but I also admire Ray Dalio, whose innovations (and thinking) transformed traditional finance long before crypto existed.
3. What is the most innovative blockchain use case you have ever seen? It may not be the most likely to succeed!
I am getting more and more excited about algorithmic stablecoins. I am fascinated by its mechanics and its possibilities. They are, of course, highly experimental, and some may fail, causing investors to lose millions. Still, these stablecoins have huge potential to bring in retail investors and offer a new way to transact. I think they’re crucial for widespread adoption, so I certainly hope they’ll be successful.
4 — What is the most interesting place you have visited and why?
I’m a mountain guy. I grew up in the Alps so I’m probably a bit biased. My favorite places are remote areas in the mountains, where you are away from civilization and can really take a moment to step back, reflect and appreciate the beauty of our world. That kind of peace of mind is the best way to take a break from the crypto madness. I love being in a place where the only reminder of the modern world is the occasional flight of an airplane. I love South Tyrol [in northern Italy] in particular.
5 — What alternate movie universe would you like to live in and why?
I’m going with Avatar. It is such a staggeringly beautiful and fully realized world. I love the look of that film and the profound importance it places on the interconnectedness of nature. If I am a nature man on Earth, I imagine that I am also a nature man on other planets. Living in an alternate reality and becoming part of the Na’vi tribe sounds like an amazing adventure of exploration.
6 — What should we be teaching our children?
Financial education is not yet the priority, it should be within education, and the sooner it changes, the better. I also think there needs to be a greater emphasis on philosophy and, more specifically, ethics. Science and technology are developing faster than ever before in human history, and we simply cannot have a generation that is unable to think critically about the human element of these developments. We know the dangers of technical advancement without ethical boundaries – there are countless dystopian movies about exactly this! – and its importance cannot be underestimated.
A wish for the young and ambitious blockchain community:
May we never forget why we are here. It’s not about getting rich quick. It is about eliminating centralization and abuses of power to lead billions of people to prosperity and abundance through decentralized technologies.
This post 6 Questions for Dominik Schiener of the Iota Foundation – Cointelegraph Magazine
was published first on https://cointelegraph.com/magazine/2022/05/15/6-questions-for-dominik-schiener-of-the-iota-foundation