The Tangle, Peaq.io, the Future – Interview with Robert A. Küfner, CEO of Nakamo.to

The Tangle, Peaq.io, the Future – Interview with Robert A. Küfner, CEO of Nakamo.to

Today, I have the pleasure to present the interview I had with the creator and CEO of nakamo.to: Robert A. Küfner.

 

Nakamo.to is a Berlin-based company, that committed itself to innovation, business development and the creation of business models, using distributed systems -particularly the Tangle ledger of IOTA.

We have seen several livestreams, meetups, and articles about their work, that is giving us valuable information of what we can expect in the field of distributed ledger technologies and where we are heading.

Their latest meetup in Zug, with the Keynote-speaker Oliver Bussmann, President of the Cryptovalley in Zug, gave us a great overview of the status quo of cryptocurrencies and their impact.

Also interesting is their latest announcement: peaq.io -a project that will enable the tokenization of assets on the Tangle, which is comparable to the ERC20 layer on Ethereum.

Thank you, Robert, for the opportunity!

 

1. Can you tell us a little bit about yourself, like how did you slide into the realm of cryptocurrency?

I first got involved in crypto back in 2010. I came across an article about Bitcoin and it shook my world. I knew then as I know now that the idea behind it was revolutionary. Back then though, it wasn’t a movement, it was a bunch of computer geeks having fun.

The more I learned about it though, the more I wanted to be a part of it, and in 2013 I founded the first publicly listed company to be focused solely on Distributed Ledger Technology, Smart Equity AG, with my good friend and business partner, Michael Geike.

DLT became my life. I become more and more involved in the space and eventually wound up speaking to Dr.Gavin Wood in London. Dr.Wood introduced me to the idea of smart contracts and I was instantly hooked and invested in the Ethereum crowd-sale, which would then go on to provide a basis for a lot of what we’re doing now.

I’ve always understood myself as an evangelist for a decentralized world and after following the developments in the space for so long I was eager to have a solid impact on it. After being introduced to IOTA early on by Florian Reike, I felt I had the right background, knowledge, and network in the cryptospace, as well access to incredible technology in the Tangle, and possibly most importantly, the right timing.

It’s been almost ten years since the launch of Bitcoin, but the Distributed Ledger Technology movement is only really taking a firm hold now – it feels like we’re talking about the development of the Internet in the early 90s.

 

2. When you created nakamo.to, what was the business model, the focus and the problems you wanted to solve?

nakamo.to has always been about connecting the real-world with the huge potential of Distributed Ledger Technology – that’s our slogan, our motto – it’s what the team lives by.

Our business model has evolved over time as we’ve realized just how huge the market for what we can deliver is. Initially, we wanted to focus all our attention on the peaq project. While we’re still doing that, we’ll also be taking on clients looking for DLT based software solutions with the help of Advanced Blockchain AG – and there are plenty of opportunities out there.

We’ll be helping all kinds of businesses to make the leap into the DLT world, and take full advantage of the countless benefits that come with doing so. The more companies make the jump into DLT, the closer the world will move towards a token economy.

 

3. Your new project peaq.io, which is comparable to the ERC-20 standard in Ethereum enables the tokenization of almost every value asset in the real world. Can you give us a small introduction to what your vision of peaq.io is and what it can enable that is not yet created?

The ICO world went crazy after people realized how easy it was to create their own tokens, but a lot of people were eventually let down by the underlying technology – blockchain. A lot of projects never really took off because of inherent drawbacks with blockchain, like scalability, transaction fees, and high running costs.

peaq.io is picking up where the ERC 20 left off. peaq is a token creation framework built on the Tangle network, making it possible to tokenize virtually anything you perceive to have value and trade or send it around the world in seconds. With the Tangle technology at our fingertips, we’re opening up a whole new dimension to the token economy, limited only by the imagination of those who choose to build on peaq.

peaq will make it possible for startups to go public on the day they’re created, giving them access to the capital they need to develop fast. Banks and financial institutions will finally be able to benefit from DLT thanks to the scalable, zero-fee framework that the DAG provides. It’s also not currently economically viable to trade stocks and shares on the blockchain because of ‘Gas’ prices and scalability limits – peaq will change this too. This is by no means an exhaustive list, but it sheds light on the sort of potential we’re looking it. Many of the use cases for the platform are yet to be thought of.

 

4. During the presentation of peaq.io, a group of people in the IOTA slack were concerned that peaq.io would lead to a new ICO-storm, based on the Tangle. Can you give us your point of view about possible ICO’s and how we can ensure, that these kinds of crowdfundings are, not again, used in a bad way?

 

I think they make fair points, and to an extent I share their concerns – but one must keep in mind that it’s very difficult to weed out the bad projects from the good ones without imposing your views and opinions on them and therefore limiting the imagination of others – and ICOs are a great tool for financing start-ups.

As much as I’m against ICO scams and people using great technology for bad things – I feel as though this may be a necessary phase. In the same way, the internet was flooded with all sorts of good-for-nothing websites at the start, and the same way Bitcoin was used for all sorts of awful things during the first few years.

It will show that firstly, the framework works, and secondly, people are interested in it and know how to use it. The next step will be for the projects that are built for good and built to last to gain momentum and trust.

If a Tangle based ICO-storm does happen, it will be down to the people to weed out the good projects from the bad, and I’m confident that the good projects will be successful in the long-run and in a great position to make use of this cutting-edge technology to make the world a better, more efficient place.

Similar to the way Ethereum made blockchain technology widely-available and easily accessible, our goal is to bring the wonders of the Tangle Network to the people. We’re creating the tool, we’re not telling people how to use it.

 

5. What do you think will be the impact of blockchains in the next 5-10 years and especially IOTA which is already disrupting the “enterprise” blockchains of today?

 

I think it’s very important to distinguish between Distributed Ledger Technology and blockchain. Blockchain is a subcategory of DLT, as is the Tangle Network.

Many people like to refer to the crypto movement by calling it things like the ‘blockchain revolution’. Blockchain was a big step forward, there’s no doubt about it, but the technology has peaked young – blockchain is outdated. The Tangle network is the first example of a new breed of Distributed Ledger Technology that will pick up where blockchain left off and improve on it exponentially.

It’s obviously very difficult to predict precisely what will happen over the next few years in such a young, fast-moving industry – but I see DLT revolutionizing the way we do business. I see distributed ledgers bringing industries together and creating new applications, new markets, new economies. More and more real-world assets and ideas will be tokenized, and the token economy will begin to take hold of a more efficient, more inclusive world.

I’m a very firm believer in the IOTA project. I think it’s a great concept coming at a great time, and could have a really big impact on the machine-to-machine economies of the future, and beyond.

 


Thank you for your time and my best wishes for your efforts! We’re looking forward to your next projects and livestreams!

Limo

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