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Blockchain offers a solution to spiky problems such as false news

Here, Robert Etches, CEO of Exfluency, explains how he found his journey into the hilarious blockchain as it offers so many opportunities.

In an interview with Coin Rivet, he states that the technology has been on his radar for about three years and "in 2016 it was obvious that here was a technology that offered a solution to many thorny questions ranging from news false through digital dictatorships and environmental challenges to unethical banking practices. "

But at the moment he says he was bogged down to run his business and thought, "Why change something when it's not broken?"

Exhilarating

A year ago he found himself free to start over and was "exhilarating".

"Blockchain must be at the base of a company, a platform, a business model – it's not a plug-in – so starting from a white sheet is almost a pre-requisite," he says.

Good partners are the other key component. He met Krzysztof Zdanowski in an innovation workshop in late 2017.

"Krzysztof is a born entrepreneur, not afraid and, like few others I have met, the courage to challenge the status quo", he adds.

"He also introduced me to an eccentric blockchain programmer network in his hometown of Krakow, and voila: we were up and running!"

Gene of truth

Find the transparency that inspires. "A central principle of blockchain is the gene of truth: in a world where even the most reliable sources of information are labeled as false, the traceability of blockchain – its judgment in terms of who did what, when and for whom – it makes it a beacon of light, "he explains.

He was inspired to read The machine of truth, by Paul Vigna and Michael J Casey.

"I read it, I listened to it, I took notes, I was elated and inspired, and what they do is illustrate how the blockchain is relevant far beyond the realms of the financial world and Bitcoin.

Perfect balance

"I believe that true success discoveries will find the perfect balance between the token economy and the blockchain's ability to provide irrefutable registries, smart contracts and peer-to-peer transactions."

In his more than 30 years of activity, he claims to have "made a conscious effort to do the right thing".

"Of course, sometimes I miss my standards, but they've always been there," he says.

"Blockchain is the perfect tool for doing better business!" Exfluency believes that by empowering people to communicate their stories with their words and in many different languages, we can help make this world better. "

Multilingual entry

Try to help those who do not have a multilingual voice to earn one and make more information available in languages ​​understood by local populations.

He draws on the words of his multilingual rights director, Madhuri Hegde, who states: "Every linguistic resource owned by the community is assigned the same value: every word in all 6,900 languages ​​of the world is equally valuable."

Turning to gender imbalance in space, he states that the lack of women working in blockchain is unfortunately not only limited to blockchain.

"I enjoyed the fortune of living and working for many years in Scandinavia, a part of the world where the percentage of women, even in management positions, is relatively high," he observes.

"Likewise, the linguistic industry traditionally employs many women, which means that I have been doubly fortunate and have had the privilege of working with a truly balanced workforce at all levels".

Key women

At Exfluency, even in this formative phase, they have women in key positions.

Companies with better balance between women and men "make better decisions and earn more", he says. "All those old conservatives in suits and ties have to wake up to this reality before their shareholders show them the door."

With the fluctuations in the price of cryptocurrency, it is important to keep the perspective as "2018 was a bear year for everything, not just for cryptocurrencies".

It is easy to forget sometimes just how much new crypto is for the world at large.

"In this first phase it is natural that these token-based currencies are volatile," he adds.

Trend towards the top

"Thirdly, the sector is also growing, and it is hoped that crazy speculation will end and we can start doing serious business." He believes the long-term trend will be "growing".

He predicts: "The pace of change will continue to accelerate exponentially over the next 30 years, and I think blockchain will be one of the main drivers."

Looking ahead, he continues: "Within 10-15 years there will be some company names and technologies that do not exist or have just begun today, and by 2050 the entire financial, food and transport sectors will be" chained "to the beyond recognition.

"In Exfluency, we see multilingual communication as an obvious area where a symbolic economy and blockchain will emerge, I'm sure other entrepreneurs in myriad other industries are coming to similar conclusions.

Recovery phase

Inevitably, innovation is a step ahead of legislation and "we are now in a recovery phase where legislators are taking one of two ways: protectionism or change".

For example, the United States and China "fear a new mentality and a loss of control". The technology of the irrefutable peer-to-peer register gives power to the individual, perhaps for the first time in the history of mankind, "and national governments do not like this, so they build walls".

"On the other hand, not even digital dictatorships like Google and Facebook when someone presents themselves with a search engine or a SoMo platform owned by a community and not by a company", he concludes.

Exceptional potential

In his native Switzerland: "The Swiss have recognized the fantastic (and I do not use this word lightly) the potential of the blockchain and are working hard to provide banks and companies with a business framework in which to operate," he says.

Despite the controversy over Ico, he says that they remain "more than valid." People just have to stop being greedy and do some homework, if, for example, the project is backed by a 12-page whitepaper and a team of two, then treat it like the false news it is. "

It is also worth asking that the project solve a problem in real life, that they are good people involved and we are looking at "a real break for a dying sector and mentality", he adds.

"If so, well, then everyone, from heavy investors to someone with 100 euros in their pockets, might want to take a second look".

Eliminate rogue counters

Currently, there is a mix of equity and token, which "appreciates a lot" because it "helps to select rogue projects and allows smaller, major investors to follow professionals who have already done a complete overhaul of the project in question ".

Venture capital and equity funds will take this mix as they get a share of equity and a percentage of tokens, which could be worth much more in the long run.

"Authentic blockchain projects change human behavior and place their tokens potentially higher up the scale of value than legal currencies, the token is, by its very nature, global, nor is it subject to the whims of national politicians with short-sighted programs" , he says.

"Satoshi's vision, fueled by the 2007-8 financial crisis, was to provide a technology that would prevent people in power from abusing that power, it was not allowing a new group of people to take our money and run for the hills, laughing all the way down.

"If I'm right and the blockchain technology is incorporated in 101 different sectors in 10-15 years, then we'll be well on our way to achieving that original vision – and the (right) rules will have played their part."

Technological lighthouse

Describes the blockchain as "a technological beacon that will help make this world better".

"If I can use my experience in the € 50 billion linguistic industry to help generate more communications around the world, pioneering a symbolic economy and blockchain technology, then it will be time well spent.

To sum up, he adds: "Blockchain is and can already do so much, for example, over 25 national banks are already investing time and resources to see how they can raise their currencies to the blockchain, testifying to a mature technology platform that is getting better and better . "

By Emma Thompson – January 19, 2019

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