Startups Using Blockchain are not to Succeed, says Founder of Velox.RE

Ragnar Lifthrasir is the founder and CEO of Velox.RE, a company that aims to make real estate both, digital and peer to peer. Velox.RE uses bitcoin blockchain to allow digitalization of ownership of a property and other related data. Ragnar had also founded International Blockchain Real Estate Association (IBREA) in 2013 to make real estate a liquid asset. He founded Velox.RE and IBREA to fulfill his vision i.e innovate the field of real estate with blockchain technology.

As blockchain startups and their future were probed into, BlockPublisher approached Ragnar to shed some light on blockchain startups. He was asked that if blockchain startups were worth of people’s attention and money. To this, he replied:

Like startups in other areas, most blockchain startups will fail. Any ICO’ed startup is much more likely to fail.

He is not the only one to highlight flaws and drawbacks of the blockchain. Recently, a former CIA intelligence officer, Andrew Bustamante declared, on Reddit, that blockchain is a threat to the national security of U.S. He further elaborated his point by saying that blockchain carries some serious power but the first person who figures out how to hack and manipulate it will be a winner.

Experts share different views on the blockchain technology and blockchain based startups. Some of them hold blockchain as very prospective and promising while others don’t. But this is not stopping new startups to get launched. We will witness the true value of blockchain in the future and the question whether it is the real deal or not will have to wait before a clear cut answer to it can be concluded.



Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Contact the editor at

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.