We had the opportunity to interview Vlad Hategan, an individual who has been deeply engaged in the world of cryptocurrencies since 2013 and possesses a fervor for the art of writing. This exclusive interview provides us with a valuable glimpse into his unique perspective and mindset.
Can you explain the concept of blockchain technology and its significance for the crypto industry?
Blockchain is the key component of cryptocurrencies, and everyone has to know it if they want to navigate the space well enough. Blockchain is a decentralized network where transactions are validated on a peer-to-peer basis instead of a centralized party. This means that every crypto transaction is added as blocks to the blockchain, and these blocks are approved by network validators – which transactions approve automatically. These validators are part of the consensus mechanism, which is the transaction verification process set into place by the network developers. To make it even easier to understand, the blockchain is the transaction record of every crypto transaction ever made on the blockchain. The good part about it is that it’s there forever. So without blockchain, cryptocurrencies can’t be effective because they don’t have a reliable foundation to secure transaction data. So why is it important, then? Because it allows everyone to transact freely without third-party intrusion.
How do you see the future of cryptocurrency evolving in the next 5-10 years?
In the next 5 to 10 years, cryptocurrencies will continue to develop. As we continue to build focus on digitizing every piece of our day-to-day lives, cryptocurrencies will play a fundamental role in improving our digital security, ensuring asset and financial privacy, and also preventing governments from enforcing violence through monetary restrictions. Anonymity and privacy will still be fundamental concepts everyone will seek. New technologies like zk-SNARK will help more people adopt cryptocurrencies simply because they won’t conflict with governmental regulations. Another important development that will take place in the next 510 years is blotching interoperability. Blockchain acts as stand-alone silos, preventing advanced usage of its functionalities in day-to-day activities. Crypto is now being used as an investment tool, with only a small percentage using tokens for their utility. So aside from metaverse play, play-to-earn, or DeFi users that want to benefit from crypto, there are many limitations.
What do you think are the biggest challenges facing the crypto industry currently?
The current challenges of the cryptocurrency industry are the UI, the lack of technological understanding, the complexities of using crypto – setting up wallets, keeping pass-phrases safe, and also the volatile nature of Bitcoin. Doomsday narratives about the market and bad actors in the industry don’t do well for onboarding new users since novices are downturned by the lack of trust crypto currently presents. Also, there are some limitations about how users with no previous knowledge understand the market. During bull runs, everyone is jumping on crypto and getting burned either by investing in scams, not knowing how to use a wallet, or keeping their transactions safe. So the biggest challenge, in my view, is the lack of understanding of the technology and its benefits/risks.
How do you see cryptocurrency adoption playing out on a global scale?
We want to see crypto getting adopted and integrated, but at the same time, we don’t want to provide governments with a lot of regulatory tools because that will beat the purpose of crypto forever. Even now, Bitcoin or other tokens are not entirely private or anonymous anymore, so what will eventually happen is cryptocurrencies will become very regulated, which will eventually help onboard the next billion users. Until then new blockchain will develop that will make it easier for people to keep their activities private without bypassing regulations. So what I believe will happen is that the current bull/bear cycles will continue for the next 10-20 years until crypto becomes a standardized technology.
What themes or messages do you try to convey through your writing?
When writing, I always try to explain cryptocurrencies and the idea of blockchain as well as possible, especially in the gambling scenario, where not many people know why it’s better to deposit with Bitcoin rather than other tokens or why they should use crypto over fiat. The general theme that I cover in my writing and the message is that crypto should be understood before using it. I always make sure to double and triple-check every piece of information, including the one I’m providing, because there are several ways to understand the industry.
Can you share any upcoming projects or works in progress?
Currently, I am working on an NFT and cryptocurrency book that will be available on Amazon. It will focus on something other than common knowledge but rather dissect information and explain to people why this is important. I’m also building out my NFT/crypto agency called SoWeb3, where I help projects gain exposure through their social media.
What do you think sets dappGambl apart from others in the industry?
What sets dappGambl apart from other websites is that they provide factually accurate data and information about the crypto gambling industry. They’re focused on removing all the fluff and providing concise, accurate information about the sector. Their motivation is to help people understand and navigate the market much easier. Instead of praising all platforms and giving 5-star reviews, they are blunt about the benefits and drawbacks of every platform, and they casually talk to their audience, which only a few websites do!