Vadim Grusha, Blocksof: new generation of tokens is inevitable
In the future, there will be a new generation of tokens along with a number of technical innovations and changes in financial institutions. Such an opinion was presented by the CEO of blockchain company Blocksoft, Vadim Grusha. We discussed with him the advantages of ICO, as well as challenges of companies when carrying out crowdsales.
Interviewer: Blockchain & Bitcoin Conference Kiev (BCK)
Speaker: Vadim Grusha (V.G.)
BCK: What are the advantages and disadvantages of tokens if compared to the fiat currency?
V.G.: Cryptocurrency tokens have more benefits in comparison with the assets issued in the traditional way, including the absence of intermediaries and a single center for system crash, transparency of circulation, actual possession, controlled and transparent emission, high reliability, cheapness, etc. In other words, it is an innovative tool that has strong advantages. It irrevocably takes over the most innovative and promising economic environment.
BCK: How will tokenization affect the finance sector?
V.G.: Currently, tokenization already has a strong impact on the finance industry. There are many players who are trying to conquer markets where there are still no institutional financial structures. Of course, financial structures are going to react actively.
BCK: What are the challenges faced by companies when issuing their own tokens?
V.G.: There are a lot of difficulties: weak expertise, lack of legislative base, shortage of personnel in all sectors, shortage of training facilities and so on. Today, blockchain is just a technology, which went through a number of tests and demonstrated its potential. The community of technical specialists is not too large, however, it already has many investors and traders.
BCK: Which areas will get more benefits from tokenization and why?
V.G.: I believe that it is the companies that are on the threshold of modernization will get the most of the benefits; they are different state authorities or emerging companies. By carrying out ICO, they can greatly reduce costs for the infrastructure development.
BCK: Why are the concepts of a token and a cryptocurrency differentiated?
V.G.: Cryptocurrency is an underlying asset. A token is a derivative tool, which is issued on the basis of a cryptocurrency.
BCK: Can a new generation of tokens appear in the future?
V.G.: The advent of new generation of tokens is inevitable. We are at an early stage of the distributed systems development, and we’ll see a lot of new solutions and technological innovations in the future.
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