The Blockchain space is a new emerging technology that has grown rapidly within a decade. Prior to this, different start-ups have been trying to explore the space hoping that the Blockchain space would have a better future.
Concerned about the future, Lee Ucheoma – CEO at Coinnewsextra held a panel discussion with William szamosszegi, CEO and Founder at sazmining Inc.
Sazmining is the leading US-based operation that offers a 360 approach to cryptocurrency through joint venture crypto mining projects, consulting services, and treasury management to help our partners and investors navigate the financial aspects of cryptocurrency management
What was discussed…
Just like other sectors, Crypto start-ups are faced by different challenges. But, are these challenges similar to the challenges that are facing other sectors?
When asked, William said: ” There are a lot of Challenges from trying to adapt other industries with the Blockchain type of industries.”
The Blockchain is a new ecosystem with a different setup.
How can start-ups be encouraged?
“Start-ups can be encouraged in so many ways”, said William. The first thing they need is Capital.
In addition to that, they need to collaborate and work together with other people and companies in the crypto space for them to see good results. “… people and companies in the space are very supportive…”, William added.
Is the space a friendly one?
In terms of how the Blockchain system looks like, the space is very friendly and accessible.
Can Blockchain start-ups survive during this pandemic period?
Surviving during this pandemic depends on some factors which are not limited to:
- Understanding how to manage the cost of a project to minimize spending and maximize the result.
- Connecting to other players in the space.
Just like the global recession in 2009, ( major tech like Twitter, Slack, e.t.c present today went into full operation during that period) start-ups should make good use of the opportunities present during this period.
Looking deeper into the recession in 2009, one of the factors that helped the tech companies to survive was that the tech space had clarity and strong regulation opposite to what we have in the Blockchain presently.
Will proper regulation and clarity help start-ups to survive?
Yes, I think having a regulatory framework would be very important and that would govern what an entrepreneur is going to build and end up building.
The Future of Blockchain and Crypto
William believes that the future holds a positive result with a lot of education from Blockchain influencers like Coinnewsextra and results from start-ups.
Click to watch the discussion