Web3 & blockchain use cases with Max Kordek

Blockchain technology has rapidly grown over the past years. Is it developing too fast for the public? Will the metaverse enter a new normal? Why is there a divide on crypto and blockchain technology? Answers to these and more on this episode of The Yield as Peter Kerr, CFA, is joined by Max Kordek, Co-Founder and President of Lisk, a blockchain development platform that focuses on JavaScript and TypeScript taps into one of the richest open source ecosystems and fastest-evolving programming languages in the world.

Key Takeaways:

[1:06] Max Kordek has over ten years experience in crypto and has watched the evolution of the industry. 

[11:46] How to identify the high quality coin projects that are worth investing in. 

[21:55] The problem that Lisk aims to solve by building individual chains with smart contracts. 

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Blockchain technology has been exploding over the past few years and is a huge player in the crypto market and the future of the internet with the introduction of web3.0. 

With the boom of blockchain and crypto comes new players in these sectors and investors need to do their due diligence before hopping on the bandwagon. “Don’t just jump on the hype train but invest into projects with what you believe in and while crypto is a very technological field so unfortunately you’re going to have to do some learning there and dig deeper to really understand these projects goals and journeys,” Max Kordek, Co-Founder and President of Lisk, told The Yield

Kordek goes on to break down what he calls the trilemma in the world of blockchain; security, decentralization and scalability. These three things explain why some key players in crypto grow faster than others, he pointed out.  While the multi-use layers of blockchain will continue to be developed, at some point newer solutions in the sector won’t be able to catch up because the existing ones have done so much research and development already. 

Kordek said, “the future is cross-chain and multi-chain, where you’re just making use of many different platforms and transfer your tokens from one to the other but, you see, there’s a lot happening, a lot of playing around, experimentation and that’s why there’s so many solutions on the market same as there are different car manufacturers or different smartphone developers or like companies that all try to improve upon former solutions.” 

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Though crypto has had a volatile year with bitcoin down 36.77% year to date and ethereum down 52.33% year to date, Kordek remains bullish on the sector overall. He said, “Whoever is not in crypto yet should definitely jump into it, because for me it’s just the next logical step and we will see a decoupling of crypto with the traditional stock market…It’s inevitable and the future is becoming very weird and I think you want a very alternative hedge which is not very coupled to anything which is decentralized…and no one can manipulate on a lower level on the technological level.”

This, according to Kordek, is where web3.0 comes in and he said the next phase of the internet is all about decentralization and ownership. Kordek explained, “it’s certainly the next level or the next iteration of the internet. It all started, in my opinion, just with being able to read pages online on the World Wide Web towards actually being able to write into it with web2.0. This had huge benefits already, but now, with web3.0 they’re introducing this aspect of ownership…where you cannot only read and write but you can actually hold something which you really hold and own digitally and I think that opens up so many possibilities and opportunities for the future.”  

Kordek went on to say the future of web3.0 “is super bright and there’s probably just 5% of what can be done explored at this point.”

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