We would like to share a recent interview with Walter Komarek, who is the CEO of Angel Investor, co-founder of INK, Bitcoinclean.org and also the former co-founder of Forbesfone.
Part 1 – Malta politician will not miss OKEx and Binance
Shelley: Malta takes the lead in the European Union region in building blockchain, known as “the paradise of crypto currency”, but has been repeatedly restrained by the European Union. So, what do you think Malta should do to continue to promote the financial liberalization of digital assets under the current stringent policy framework of European Central Bank? As companies such as Binance and OKEx are moving their headquarters to Malta, do you think the relationship between Malta and the European Union will again be influenced by this reason?
Walter: Malta has taken an initiative to regulate blockchain and cryptocurrency that were not regulated before. I think, Malta is doing something good in this industry. Also, I guess that EU restrains not only Malta but also other countries indifferent ways. It looks like regulations and laws are coming in. For Malta it is a really positive point and I don’t understand why everybody should be unhappy with this because we are making crypto illegible. Malta politicians also uses the big names of Okex and Binance to promote the island.The authorities should be faster.
Part 2 – STO is just an excuse
Shelley: STO is very popular recently, and this is not just hearsay, there are already some projects doing it in practice. The road of STO is still complicated, the future of which is also unknown, and the relevant policies of different countries are different. So, from your personal and national point of view, how do you think about STO projects? Would you like to give some suggestions to the projects and the investors? Does the Maltese government have any policy advantages in STO?
Walter: Today, we can actually observe a small number of upcoming STOs. At the moment, I see this more like a way out of the market crisis. Because the overall market is now volatile and people try to find different ways to collect money for their crowd funding, ICO. STO is still a problem, because it is rather difficult to find one or two exchanges for being listed and also trading volume is way down.So STO is still in the early stages. We can have good STO maybe in 2 years but let’s see how everything will develop.I’m sure that if the total market turns bullish again, nobody will speak about STO again. People will again find easier ways to get the investments. So, at the moment, STO is just an excuse because of the current market situation when you are in search of the investor for your project. Of course it’s better regulated but again it doesn’t guarantee a success of the project.Imagine the market would be like last year..nobody would speak about STO.
I am also in STO lottery.com involved. Therefore know the plus and minus well.No it will not it’s just an additional option.Other regions means Asia or Europe…Singapore,Gibraltar, also Cyprus speeding up lately. Russia continues to be in favor of Crypto but no specific regulations upcoming at the moment. Russia plans to implement Crypto in real life more.
Part 3 – Russia’s dream to become dominant in blockchain
Shelley: It is said that Telegram will launch a beta version of Blockchain Platform TON this autumn, claiming whose transaction processing speed will exceed Bitcoin and Ethereum. Pavel Durov and Vitalik can be considered as the top blockchain talents in Russia. Do you think that the emergence of talents in the Russia has something to do with its developing environment? What is the basic market situation in Russia? What is the Russian government’s attitude towards blockchain? Is the threshold for entering the Russian blockchain market higher than the European market?
Walter: It’s true that Russia abounds with programmers, mathematicians and new talents in the field of cryptography, knowledge of which are partly inherited from the Soviet era. According to the recent news, Russian officials acknowledged that the blockchain allows operations to be performed several times faster, and agreed that it gives additional reliability to the data storage. In March,Prime Minister Dmitry Medvedev even called it a “breakthrough technology.” But as the Russian authorities are interested in the blockchain principles themselves, the cryptocurrency usage and the related industry meets a much more critical attitude. As for the last question, of course, there will be pitfalls on the way to entering Russian blockchain market, but I don’t think the risks of doing so will be higher than the European one.Russian Banks invest to implement blockchain into the Banking sector. Further President advised to find ways how to use Crypto in daily life.Russia understands that they can take advantage on US with Crypto.In St.Petersburg is a Hotel in which you can pay in BTC, ETH already…that means daily life. I believe in freedom of people and people want to choose how they pay.I am sure that China finds its own good way forward too in the Crypto world.I have never seen more talents than in Asia.1000% China is the leader already.
Part 4 – Stablecoin is promising
Shelley: At the beginning of this week, the sharp decline in market value caused by USDT’s fluctuant prices has become a hot topic. How do you think about the concept of stable currency and USDT? Can stable currency still be the short warehouse for the individual investors in the future? What does the Malta government think of stabilizing currencies?
Walter: It’s good for all of us to have something stable in our lives, but actually with the USDT the whole idea of a decentralized system and blockchain goes away as USDT is pegged to US dollars which are fully centralized and controlled by the US banks and other intermediaries. Dollar is stable enough in the short term for people to feel comfortable exchanging it for goods and services. However, everyone knows that 100 years ago the dollar was worth far more than it is today.What does stable coin mean? A stable coin which we see today is more based on the algorithm. Actually, stablecoins are promising a lot now but all of them do not prove how really stable they are. Of course, they are used and they will be used in future as areal house as they have been used before in order to balance trade between Bitcoin or other crypto currencies and stable coin. You can say a lot about it –I bought a house with my credit or with my own asset – nobody knows except the bank. However, that is the thing that everybody is missing at the moment –stable coin is issuing something but you have to be developed further. A real stable coin has to prove how it is backed and how well it is backed. And I don’t think that any of these so called creators of stable coins are able to do so. I think only large institutional players will be able to put the trust to the stable coin. So let’s see if that happens. Trust is not enough for a stable coin.Whoever creates a respected stable coin needs to proof the value of the underlying assets.Until today all stable coins failed to proof that the are really backed.
Part 5 – The storm will bury all people who do not belong to this industry
Shelley: What do you think of the current theory of ‘blockchain winter’? During the bear market, what are the similarities and differences among Europe, the United States and China? With the globalization of blockchains, what are the opportunities and challenges of Malta?
Walter: Now we are observing a real winter after an extremely hot summer which we had last year. And the big advantage of such winter is that it wipes out so called“fairy tales”, game players and not serious people in the industry. They can’t leave in such time. So what people should actually do in a bear market? People should get themselves ready, prepare their projects, develop products better –all the things that we do in Betmatch. All the hard things should be done in this winter. It doesn’t matter where you are – Europe, China or USA. Everybody is facing the same issue in the winter time. All the things should be done in winter, because it is all about blockchain. Now winter affects Malta – people are not easily spending money on lawyers or on setting up companies, all of them are waiting to see how the market develops further.And the good thing is that all the real believes and lovers and talents will survive!
Shelley: Winter comes, it can give us more time to do actual work, to think what we can do, what we can’t do.
Walter: I have talked to you before, I think this blizzard will bury all people who do not belong to this industry.
Part 1 – The down to earth industry will succeed at last
Shelley: You’ve been to Germany, Russia, the United States and Malta. You’ve been halfway around the world, and you’ve worked in different industries. What do you think is the most important business thinking model you’ve learned from different countries? Rich experience makes people attractive, which part of you do you think is the most special and attractive part? Looking ahead, what do you think the future world will look like? What role does the blockchain play in it?
Walter: Yes,I travelled around the world and I saw a lot of things. My conclusion – things that are down to earth are the most successful industries! Of course, blockchain is not down to earth – it is still flying in the cosmos. That is the reason why majority of people doesn’t take it seriously. I think that blockchain has to settle down the earth. To my mind, it can be settled with the help of the youngest since when they become mature – blockchain will be the best thing the world has ever seen in the last few decades. Blockchain will play one of the biggest roles in our life like the Internet does it now! But the main mission of it right now is to get down to earth!
Part 2 – Learning language must be self-disciplined
Shelley: I’ve heard that you graduated from the University of Salzburg, the oldest and largest university in the state of Salzburg, Austria with nearly 400 years of history and many linguistic disciplines. And you have shown great language talent by being proficient in three languages, German, English and Russian. I wonder if there are any tips or suggestions of learning languages that you would like to share with us? It is said that ‘mastering a language is the key to a country’s culture.’ What is the greatest cultural connotation that each language gives you? Do they have an impact on your beliefs in life?
Walter: Yes, I’ve graduated from the Universities, not only this one, but also got my master’s degree from the American university. Language is like a weapon which makes you very strong and powerful. If you are just a passenger you can only listen to what you’ve been told and not catch a word. I grew up in Austria, the place very close to politicians. And when Turkish and Arab people came to Austria in the early 1980 it was actually one of our missions to make those people speak our language, but Austrians failed to do this. Most of them who came after 10 years didn’t speak one word of Austrian language. So if you want to really comprehend the culture of different country and be respected, you should possess good language skills. I cannot imagine how one can live in China without speaking the language. Of course, It’s very difficult language. But you have to sit down and be very disciplined. As a businessman, I have never enough time to everything, there is always a lot of things in your head and a lot of tasks to fulfill. It was very hard for me to learn Russian language 3, 4 hours a week, to write and read in Russian. But if you have a strong desire and purpose you will do it. All comes down to your wants and wishes, if you want to learn the language you will take all the efforts and do it.
Part 3 – It is boring to live without love
Shelley: Let’s talk about the concept of love. Do you think that blockchain will bring any change to the definition of marriage? Are you more inclined to love pragmatism or romanticism? What kind of love do you want most? Freedom and love, which one do you think is more important? What role do you think the two play in independent personality?
Walter: We have to understand one thing about all of us –without love it’s a boring life, actually. Is it romantic or is it pragmatic? Love can be different, that’s why every person defines it differently. And it also depends on the person you are with. Your thoughts about love change from time to time, as you never stop developing your personality. Maybe in the very young years, in 18 -19 years old, we believed in a strong and true love. But these changes maybe led to pragmatism. However, there must be a lot of opposite opinions but the point is – I love my freedom. Freedom and love can still be combined and makes things easier. We all know how difficult it is to lose a loved person.
Part 4 – My dream is to become the president of Austria.
Shelley: American author Ayn Rand once said, “We should regard the individual as a hero and take personal happiness as the moral meaning of life.” What was your dream when you were little? What is it like now? Are you satisfied? What is the most critical choice in the way you succeed ? What is your understanding of happy life? Is there any prospect of your future worth?
Walter: Personal happiness is and has always been the most important driver in my life. My dream as little boy was to be the president of Austria in order to make life of people better. Later I understood that this is Job for old people. I founded more than 15 companies in my life and at least 50% of them had been successful, but I also feel that this success became harder in our new rapid world over the last 5 years. After I sold my shares in my Telecom company, my life became again happy due to the Blockchain industry. With telecom I felt somehow things are standing on the same old place as last 10 years. the people in the Telco industry are not eager to shift to new ways in order to protect their interests. Today I feel happy because I combine my lifestyle with my business activities in crypto and blockchain. I try to bring good values and and higher moral standard into this industry when I speak to the people. Money is important, however without moral standards it will not come to you for long.
Part 5 – Sell company shares and enter blockchain industry
Shelley: The EU economy itself is confronted with the problems of benefit distribution, decision-making mechanism and unity. What do you think of the future trend of the EU? Why do you choose Malta after so many years in the Europe? As Malta’s largest telecommunications company, what is your biggest gain from Forbesfone? From the communications industry to the blockchain investment, what changes have taken place in your value pursuit?
Walter: 3 weeks ago with my friends, PM of Austria and the Mayor of Kiev in Ukraine(pic.). Actually,EU is very a slow mechanism. You can’t compare it with Asian market, because its speed is much higher than European. And Asia, especially China, is taking more because of that speed. Based on that, I can say that I don’t see future of trading Europe. Why have I chosen Malta? This country is doing the right steps.Of course European Union will increase pressure regarding Malta. I would like to see how Malta will stand this pressure, because country stood the pressure regarding betting industry. Malta has a great regulation for betting. Malta made right steps in order to make a crypto-friendly environment.
Why I left telecommunication company? I wanted it to be the first in the world that would accept cryptocurrency. But my shareholders did not understand and I sold my shares 2 years ago and decided to go my own direction. I still want telecommunication to be a part of blockchain and crypto. The telco world holds on and does not allow the chances and changes.Once will come the moment when those old Dino zaurus must change.We are some steps ahead. Gaming possible, I still believe that real estate can be promising.
(Source: 499 BlockchainSister)