FintekNews is pleased to bring you #BlockchainProfiles – featuring thought leaders within the blockchain and digital currency space. For the next feature in this series, we’d like you to meet Tomislav Matic of Crypto Future, as Vienna based Blockchain IT solutions provider.
- How did you personally become involved in blockchain?
My career began in IT; I have 20 years of experience in information technologies, working my way through the industry taking on various project management and consultant roles. I personally became very interested in blockchain when it first got introduced. In early 2017 before the hype started, I switched to software engineering based on blockchain, and founded Crypto Future. We started simple, with a data mining centre, but soon began to build a blockchain platform.
- What does your firm do/offer within the blockchain sector?
Our Rotharium platform offers a system on which blockchain based applications can be built. We’re currently working on a food tracing app, which would grant access to the sourcing of produce in supermarkets via a mobile phone app.
The brilliant thing about our blockchain platform is that the opportunities are limitless. From the implementation of smart contracts and automatic booking, all the way to blockchain based voting apps – removing the opportunity for fixed elections with immediate results; once blockchain is properly developed, its eventual impact on the world will be similar to – if not bigger than – that of the internet. It’s for that reason why we also invite app developers to use Rotharium to develop their own ideas – Crypto Future is open to anyone, and we want to facilitate as many creative ideas as we can.
- What is your role within your firm and what do you do there on any given day?
My role as CEO of Crypto Future is to conduct the general management of the company – making corporate decisions and managing the overall operations at Crypto Future to ensure that business runs smoothly in what is a critical time in our existence.
- What area/s of blockchain do you believe will grow the most in the coming 5 years?
The potential of smart contracts is huge, and with a higher demand for convenience than ever before, the implementation of these on a global scale could play a massive role as blockchain develops. The transparency aspect of blockchain is another area that is already hugely popular, and will contribute strongly to the development of the technology within the supply chain.
- What do you believe the next major innovation in financial technology will be and why?
The next major innovation in financial technology is already here – it’s blockchain! We have not even begun to understand how much blockchain will disrupt financial technology – and even more than financial technology, it will revolutionise the world we live in.
- What are the biggest problems facing the blockchain industry in the future?
One of the more obvious problems surrounding blockchain is the lack of understanding of the technology. Not only on a consumer level, but within business too. Many hear the word and immediately associate it with cryptocurrency, but few actually realise that it could soon have so many wider applications.
Right now, the biggest problem is the scalability of the technology. If we want a mass take up of blockchain, it would have to handle the same demand as Visa – which can handle over 50,000 transactions per second. For reference, the blockchain on which Bitcoin operates can handle 7, and Ripple manages 1500. We’re heading in the right direction, but still have some way to go.
- What has been the biggest success in your firm to date?
Though we’re still a new business in comparison to many, we have gained some very prominent distribution partners such as Microsoft and have launched several new applications. But our biggest success would probably be that we became Austria’s most successful ICO at the start of 2018, and many more successes are certainly on the horizon.
- What has been the biggest failure in your firm and how did you adapt?
Fortunately, we’re yet to see any real failures in our short history, but strangely, we look forward to any future ones. Failures mean that you’re pushing the boundaries of your ability, and with each hurdle we fall at, we’ll pick ourselves up and learn something new from it. It’s an awful cliche, but it’s true – to make an omelette, you have to break a few eggs.
- What blockchain leader do you admire the most and why?
It has to be Vitalik Buterin, the creator of Ethereum. His contribution to blockchain cannot be disputed. Though he’s received a lot of criticism recently, he has opened huge opportunities for the technology at such a young age and deserves a huge amount of credit.
- How do you feel consumers (or if more relevant for your firm – businesses) are adapting to the facet of blockchain that your company operates within?
From a consumer perspective, the beauty is that they won’t have to adapt. Our goal is to create blockchain based applications that the end user can use with complete ease. Ease of use is key at a point in time where very few actually understand the deep complexities of blockchain – so we are working to deliver this to the masses through easy to use applications such as booking reservations at hotels or restaurants or sports betting.
- If you were to personally invest in just one blockchain firm (other than yours), which one would it be and why?
The company isn’t specifically blockchain, but Microsoft is doing some brilliant work in this space at the moment. The company have taken some huge steps in the advancement of blockchain, and its Azure workbench is making the development of blockchain based applications a lot easier for developers. It’s got some really exciting movements on the way which could be huge for the eventual mass take up of the technology.