We asked builders in the blockchain and cryptocurrency space what they thought about the industry…and added some random zingers to keep them on their toes!
This week, our 6 questions are addressed to Dominik Schiener, co-founder of the nonprofit Iota Foundation and creator of the Tangle, a permissionless multidimensional distributed ledger designed to provide a global protocol for everything Laying the groundwork for connections.
Dominik Schiener is the co-founder and chairman of the Iota Foundation, one of the largest and greenest cryptocurrency ecosystems in the world. The mission of the Iota Foundation is to support the research and development of new distributed ledger technologies, including the Iota Tangle. Dominik grew up in Italy and oversees partnerships and projects for the overall realization of the machine economy vision. He is a strong advocate for the research-based, community-vetted, and transparent development of the cryptocurrency space.
1 — If you are investing in startups right now, what blockchain-based business opportunities would catch your eye?
I would fully invest in startups that focus on the intersection of Web2 and Web3. We are in a period of transition that will last for a long time, and from a financial and technical standpoint, it is wise to embrace this ongoing transition. The companies helping the centralized world into the decentralized world — and vice versa — are both present and future. This includes crypto banks, fiat gateways, NFT marketplaces, and more. The biggest barrier to adoption is user experience, not scaling. Focusing on and investing in UX is the path to mass adoption and the new world of Web3.
2 — Who do you find the most inspiring, interesting, and entertaining in this field?
I am drawn to people who endure and overcome difficulties in their personal and professional lives and become more capable leaders as a result.Naturally, I am inspired by people like this Vitalik Buterin In crypto, but I also admire Ray Dalio, whose innovations and ideas changed traditional finance long before cryptocurrencies.
3 — What is the most innovative blockchain use case you have seen? It may not be the most likely to succeed!
I’m getting more and more interested in algorithmic stablecoins. I’m fascinated by their mechanics and their possibilities. Of course, they are highly experimental, and some can fail, costing investors millions of dollars. Even so, these stablecoins have great potential to attract retail investors and offer a new way of trading. I believe they are critical to mainstream adoption, so I certainly hope they will be successful.
4 — What is the most interesting place you have been to and why?
I’m a mountain guy and I grew up in the Alps, so I may be a little biased. My favorite places are remote areas in the mountains, where far from civilization, it’s really possible to take a moment to step back and reflect and appreciate the beauty of our world. This serenity is the best way to escape the madness of cryptocurrency. I love being in a place where the only reminder of the modern world is the occasional airplane overhead.i love sutirol [in northern Italy] especially.
5 — Which movie parallel universe would you most like to live in and why?
I’m going with Avatar. It’s a stunningly gorgeous and fully realized world. I love the look of that film and its deep emphasis on the interconnectedness of nature. If I’m a natural person on Earth, I guess I’m a natural person on other planets too. Living in an alternate reality and being part of the Na’vi tribe sounds like an amazing exploration adventure.
6 – What should we teach our children?
Financial literacy is still not a priority – it should be in 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 advancing faster than ever before in human history, and we simply cannot have a generation that has not been able to think critically about the human elements of these developments. We know the dangers of technological progress without moral boundaries – there are countless dystopian movies about that! – Its importance cannot be underestimated.
A wish for the young, ambitious blockchain community:
We will never forget why we are here. It’s not about getting rich quick. It is about eliminating centralization and abuse of power and guiding billions of people to prosperity and abundance through decentralized technology.