Short bio: I’m an enterpreneur since 1996, work as co-founder and marketing leader of IT development companies (Erba Ltd., Flexsys Ltd.). I have 21 years of marketing, sales and project management experience.
When did you first hear about Bitcoin/blockchain and how? We started TE-FOOD as a centralized food traceability solution. But the incredible distrust in the food industry, as well as the theoretical possibility of changing critical data (e.g. expiration date) in a centralized database drove us to seek for solutions to prove that the data entered into our systems is intact. This brought us to blockchain in early 2017, which led to the decision to utilize blockchain as traceability transaction ledger.
What was the first crypto-related activity you did? I personally don’t trade, trading was never my world.
What was the last non-blockchain related job/occupation you had? I’m in the corporate IT industry since 1996 as co-founder of hardware and software development companies. We developed mission critical systems like the Hungarian Road Tolling System, or SPAR’s SuperShop loyalty card system, which serve millions of transactions each day.
What made you migrate to the blockchain professional environment? While blockchain and crypto can revolutionize a lot of industries in the long term, they have several medium term advantages as well, which make them a compelling choice, especially in the field of food traceability.
How do you see your role in blockchain and crypto? How do you think you can influence the industry? We are advocates of fundamentals, this is what blockchain and crypto desperately needs. An industry with over 250 billion USD market capitalization can not appreciate hype or pyramid schemes. Pyramid schemes are illegal, and hype is not sustainable, it works only for short-term manipulations.
Another point: Criminals created a fake TFD token on the TRON network, impersonating TE-FOOD. We contacted TRON support weeks ago to remove it, but they have never answered, and the fake token is there. Until a company with the 12th biggest market cap allows criminal activity on its network, the business world will not take crypto seriously.
What we can do in this environment is to realize what we undertook in our roadmap, and follow our overall goal of international adoption. Sooner or later people will appreciate fundamentals, there is no other way.
How do you see the actual situation with ICOs? Do you believe they should be regulated? We think the current wild west of crypto needs to end, and cryptos need regulation. It needs time though, as the current sentiment in crypto is not exactly regulation friendly.
Recently in an interview we told that we have been working with the securities commission of Germany to make the token economics of TFD compliant. The result is, that TFD is the first and only token on the world which received a positive opinion by a major securities commission about not to be a security.
Since the whole crypto industry is working right now in a regulatory gray area, we believe this is one of the biggest news of the last several months in this space. But despite the interview was made by a well known crypto influencer, there was little to no reaction by the crypto community to this information. To tell the truth we were a bit disappointed that no one really cared, but we are sure it will be appreciated in time.
From your point of view, what are the main challenges of blockchain at the moment? We think three points are the most important:
1. Recognition of blockchain by the leading organizations of the world. We addressed it by partnering with FAO, the Food and Agriculture Organization of the United Nations.
2. Compliance of crypto by governments. We addressed it by the official opinion by the authority of our jurisdiction.
3. Adoption by users. We will address it by migrating the world’s largest farm-to-table fresh food traceability system to blockchain.
How do you see the future of blockchain? How will it evolve? Where do you think we will be in ten years’ time? Do you see crypto as some kind of universal payment system? Do you think that bitcoin will still be king, etc? Blockchain has incredible advantages to revolutionize a lot of areas from banking to contracting to clearing. But I think blockchain and crypto together are the real disruptive combination.
Maybe they are “too disruptive” now, making a lot of powerful market participants feel threatened by them. But if you look at the trustless, peer-to-peer possibilities they provide, these are so logical steps, that in the long term they will be hard to avoid.
Disclaimer: for the “People of Blockchain” section we have developed a short Q&A with relevant people of the industry. All answers are presented exactly as offered. The content of the answers is not altered in any way and is the sole responsibility of the respondent.