Decentriq is a technology company that provides applied cryptography services to some giants of the blockchain industry. Based in Switzerland, the company develop, apply and invest in decentralized technologies.
- Please tell us about your background and what lead you to make Decentriq?
Maximilian: I grew up in Germany and then went to Switzerland to study finance and now work in the technology industry. I have an experience of plus 5 years in data analytics and cryptography space and we are applying modern cryptography to solve problems of today’s economy, especially with the increased amount of data and data availability.
We take state of the art cryptographic solutions and apply them for blockchain cases. The two of the very big pain points of most public chains are around scalability and privacy. Both are extremely urgent to solve otherwise, adoption which is necessary, will not be reached in the near future and people will then lose interest in this technology. We work for distributed ledgers such as Ethereum and technology behind it like zk-SNARKS and due to the fact Ethereum has an incredible community.
- Please tell our audience how you came up with Decentriq?
Maximilian: I worked in the big data analytics space and that with data I mean it’s an opportunity but also a threat. The threat is that certain things leak that might hurt certain people therefore, by applying cryptography, this pain point can be solved and therefore we founded the company. We are very happy that the huge interest in this kind of networks provides us commercial traction and for blockchain itself, it only can unlock the value by also interacting with other technological trends such as big data, artificial intelligence and internet of things.
- Do you plan to develop your own product?
Maximilian: We offer mainly services and of course within these services, products can be developed. We believe that future economic landscape will be more towards participating in products. We believe that in a decentralized distributed economy, it is about co-creating products and then manage them across the globe, probably not always by a single entity but maybe a single entity focus on one peer group or one kind of solution.
- In your opinion, how much things have changed from 2017 till now?
Maximilian: 2017 has personally surprised me to be honest. I think the big attention came due to the fact that it was possible to make an incredible amount of money within a short period of time because prices for certain tokens or assets was rising incredibly. Of course this attract people and organizations which are interested in the long term. The technology is in a very early stage, especially when it comes to proof, it is economical and has value for the society. I feel bad for the people that lost money nevertheless, I think this little bit period of cooling down has been very good for the community to see who is really working.
- Can you tell us about clients Decentriq has and how do see blockchain technology, shaping up this year?
Maximilian: Our GitHub code is available and anyone can see what we are doing. Unfortunately we cannot disclose our clients because it is under NDA and some of the things are quite strategic. I would be really proud to do it but I’m not allowed.
This year will be the year of zero-knowledge and scaling. I am really optimistic that we will see major milestones in that space and of course it is not a subject or a solution that is trivial for people to understand. I think small communities will have a huge impact on the overall crypto space.
- Is the development team under one roof?
Maximilian: We are 8 people and we are working under one roof. Even though we believe in a distributed team which brings diversity but I think it is very important to align on a regular basis with weekly team call. Nevertheless, because it is a call that implies that certain people are not in office here and I also think it is going to be the future of work. If we want to have great minds, great personalities and great talent, people should be provided with a certain level of freedom in terms of where and when to work.
- Do you think there will be some cryptocurrency regulations in 2019?
Maximilian: I think because the hype have cooled off, there is a little less pressure on the regulators, I can’t comment about other countries but here in Switzerland, at least they have been open to dialogues and they are still going on. I think this has to do with the nature of being a small country, we are not like the US or other countries where things are just on a bit bigger in scale.
- In your opinion, can Proof-of-work and Proof-of-stake coexist? which one is better?
Maximilian: I mean there are certain levels to look at it from an environmental point of view, of course proof-of-stake. Nevertheless, when it comes to security, proof-of-work has a track record of now ten years with bitcoin. I personally do not think that it is an either or but depending on the application and on the use case, there have to make a case-by-case decision.