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It has been repeatedly proven that the crisis acts as a catalyzer when it comes to technological progress. The recent worldwide incident of the pandemic had sufficient ground to demonstrate that. And, while the tech advancements may be an essential way to tackle the health crisis, their benefits will have a long-lasting influence going far beyond the scope of Covid-19.
Blockchain has demonstrated its outstanding potential long before the drama of SARS-CoV embraced the whole known world. Not only blockchain may become a leading power of eCommerce, but it may also completely transform the way how the exchange of valuable goods is enacted – and the growing number of NFT auctions is living proof of that. Eventually, if all goes well, the blockchain-based digital currencies may go as far as to claim a place on one rank with fiat. Taken that all into account, it’s anticipated to take a vivid place in the monetary system and potentially, be one of the causes behind the quick recovery of the economic machine.
These are only a few reasons why the knowledge of blockchain is so indispensable in the modern business world. To everyone’s luck, it is not restricted or exclusive, but rather can be acquired in a simple manner at a minimum cost. Limytd took care of implementing the vision of the first Blockchain Academy in the German-speaking region that aims to provide an easy, straightforward explanation of the basic as well as more advanced concepts for all types of investors – from beginners to experienced professionals. Aiming to build an education platform that provides key pieces of knowledge on blockchain combined with insights on their successful expert strategy, Limytd may become an essential starting point for everyone who strives to enter the world of blockchain but doesn’t know how.
I prepared a few questions for the CEO of Limytd. I tried to find out what moves the current cryptocurrency market, how blockchain may solve some of the fundamental global problems, and why it’s so essential to start building up the knowledge base on this technology already now.
First question – would you like to share your outlook on the dynamics of the current crypto market? There have been quite a few ‘pits’ caused by the asset volatility; what explanation would you find for this?
As for today the biggest problem with the crypto market is the lack of usability for users. If the usability reaches a certain level, the blockchain and crypto market will reach massive dimensions which at the moment we can only dream of. Currently many companies, investors and big players in the market are working on and developing solutions for applications with high usability which will then have an easy way into mass adoption. For the long run we?re expecting a really profitable market here.
The assets experience high volatility due to the still minimal capital being in this market compared to the capital in the entire world. Big investors are joining the market at the moment as well as many people start to research and invest in this market as well causing peaks. Corrections happen because of big investors paying out their profit as well as global economic influences. These aspects influence the crypto market more than for example the shares or forex market because compared to them it has still got way less capital in it. With the rising capital flow into the crypto market though, the volatility will drop and even more and more investors will join the market.
If you were to compare cryptocurrency with its underlying technological basis – blockchain, which one would you give a preference on a span of 10 years, let’s say?
I can see high potential in Ethereum, Polkadot, Cardano ad BINANCE chain for example. These projects all have got some aspects in common, A strong community backing them, many regular updates and a good variety of possible applications making them very good candidates for a bright future in my opinion.
Ethereum for instance, has many different use cases and completely new applications like NFT?s, tokenization, DeFi and many more. If Ethereum can solve their problems with gas prices, it can rise to one of the biggest and strongest cryptocurrencies on the market. Binance chain on the other hand has a gigantic community, both centralized and decentralized applications as well as low gas prices which currently leads many users to switch over from Ethereum to binance chain, as seen on prices and market cap.
Blockchain has arrived as a trailblazer in numerous fields of human activity – from data records to automation of tedious manual tasks – but it has up to now not gained a widespread adoption. What’s the reason behind that?
In one word, usability. Usability, or the lack of it in this case combined with the users own responsibility and a high volatility are the reason why this market hasn?t seen the mass adoption yet. That is why Limytd exists, we?re aiming to educate our users on the essential blockchain and crypto topics. When Facebook launches their Diem coin, huge sums will flow into the crypto market, making this a big and important event for mass adoption as well. Compared to the internet, the blockchain market has a way faster mass adoption and acceptance process running because of the possibility to use the internet as distribution media which the internet itself obviously didn?t have.
How can blockchain solve the fundamental faults in the current banking system? In which way this technology will revolutionize the activities of our daily life?
Blockchain basically get?s rid of third parties like banks. It is a hundred percent transparent and fair to every of it?s users and everyone gets to enjoy being responsible for their own finances. On top oft hat, it is a decentralized ecosystem which allows faster bigger transactions to lower fees worldwide and at every point of time. Using crypto credit cards you can even already pay in stores and it is possible for you to send money via SMS over your mobile number. These aspects are why blockchain will revolutionize many of our daily life sectors.
There are various types of blockchains existing now on the market. Which ones, in your opinion, hold the highest potential for the future – especially, taking into account the needs of the modern economic system?
As stated before I see a high potential yet to come in Ethereum, but it really depends on the use case or application we?re talking about. There?s a variety of different use cases and blockchain isn?t really a question of competition but rather more about solving problems in different scenarios together. For instance Polkadot solves some problems Ethereum suffers from, facing their own problems as well. What I mean by that is, that you can?t really compare crypto projects because many of them aim to tackle different problems. It would be like comparing the gaming industry to the real estate sector, both have their uses and target a different group. Ethereum has many use cases and applications basing on it so far, making it a really important player for the future.
What’s the most effective way to quickly build up knowledge on this technology, especially if you are completely new to the field? What return will this knowledge bring you, in case you start working on it already now?
Limytd. As we all know, knowledge creates possibilities for people to position themselves in a new growing market before everyone else does, thus profiting from the upcoming mass adoption. This is why big profits are currently possible in this market. Limytd offers the essential knowledge, based on experience of many years carefully composed together in a blockchain academy with video courses enabling people to profit before the masses get mobilized on this topic.
How will the trend of blockchain education continue evolving in the future? Do you see the possibility of blockchain being introduced as a compulsory unit at schools or in any other institutions of the public education system? And what role has Limytd already played in revolutionizing the way blockchain is taught about?
I wouldn?t say that this is a question about the future as the time of speaking, there?s already even universities offering degree courses on these topics which means it is no longer a vision of the future rather more already quite present gaining on importance and demand of people wanting to learn about them.
That?s why Limytd offers and provides these people with the perfect education courses covering these topics to safely guide the masses and help them preventing possible mistakes and failure. We don?t differ between our users, everyone having access to internet connection is able to benefit from our academies, while universities require a prior degree of knowledge having access restrictions basically cutting many people away from this important knowledge. As we like to say, not everyone is lucky enough to have access to a good education system but everyone with an internet connection is lucky enough to have access to Limytd.
Now talking about your project - what are the aspects you are most proud of, and what the customers who never heard of you should know about Limytd?
I am most proud of the fact, that our company Limytd wasn?t founded out of an idea of one of us but because of the high demand on our knowledge and services. The amount of people demanding and asking for our knowledge in this sector basically forced us into founding Limytd to be able to educate everyone.
Could you elaborate more on who your team members are? What is their past experience, and what made them cross paths in the modern domain of crypto?
The Limytd Team is a combination of the competences and skills needed to build up this company. They are specialists in their own areas of expertise sharing the same vision bringing their skills into the company and working on this vision and goal together. Working on Limytd together enabled them to really finetune their skills and progress in their fields as well. Our ways crossed through contacts, networking and sharing knowledge, eventually leading us to see the benefits from the variety of skillsets everyone had to offer to this team.
What is your ambition when you look into the future? What place would you like your Blockchain Academy to take in the public mind?
People should see Limytd as a reliable source of information and knowledge when it comes to crypto and blockchain related topics. Limytd aims to be the global player number one in this sector building up a community which educates and supports each other.
