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Blockchain, “Scalability is just a matter of time”

Blockchain’s scalability, i.e. the ability of the system to accept an increase in the load of information and operations, is a complicated problem to solve.

But, given the efforts and progress made recently, it will soon be possible to figure it out.

This is the position of Slovenian Jure Sutar, head of the DAA department of ICONOMI, a digital asset platform that is experiencing increasing utilisation rates and has been nicknamed “the Uber of fund management“.

The manager, who was one of the speakers at the Delta summit in Malta, explains that the popularity of the services offered by ICONOMI, a leading player with $5.8 million in funding from the third most successful ICO in the fintech sector, derives from their uniqueness and performance.

According to the holder of a master’s degree at the South Korean private university Yonsei School of Business (one of the best in the world in its field), the blockchain index of the group, which consists of a basket of diversified assets in the sector, has done better than bitcoin in 2017, the year of the crypto boom and the entrance into the international stage.

Tell us about the ICONOMI project and vision. What’s the structure of your company and what set you apart from your competitors?

The ICONOMI Digital Asset Management Platform is a unique technical service that allows anyone from beginners to blockchain experts to buy into and manage digital assets like bitcoin and others.

With a broad set of unique and intuitive tools for people of any skill level, ICONOMI enables users to buy into and manage various digital assets and combinations of digital assets called Digital Asset Arrays (DAA).

What are the credentials needed to become a DAA manager?

Anyone can apply to become a DAA manager by emailing us at [email protected], but most of our managers have extensive experience in crypto or traditional finance. We currently have 37 DAA managers from 20 countries around the world.

Which of the products you offer is the most popular and why?

The most popular DAA among our users is Blockchain Index (BLX). The main reasons BLX is so popular is that it has the longest track record, highest AUM (Asset Under Management) and great performance. In fact, BLX outperformed bitcoin in 2017.

The cryptocurrency market is still in a bearish phase: in your opinion, is it a problem of trust, or just a matter of pure speculation?

The crypto market, while maturing, is still very young. As in any other market, trust has become one of the biggest commodities. Besides trust, for most people, the distinction between investing and speculating comes down to the risk level and timeframe.

It simply depends on the approach you adopt when looking to enter a particular market. All in all, blockchain is shaping the future and disrupting many industries, and it’s here to stay.

Blockchain keeps evolving and getting better but some issues like scalability have not been solved yet: what’s next and what should we expect from the next generation of this cutting-edge technology?

Scaling is a tough problem, but work in this area is proceeding at a rapid pace. For example, Vitalik Buterin recently announced the possibility of using zk-SNARKS (the technology used in Zcash) to scale Ethereum to 500 transactions per second, an increase of more than 3,000%.

Given the scale of development activity in this area, it’s only a matter of time before workable scalability solutions (and solutions to other difficult problems) arise.

Collaboration with Matteo Oddi

Daniele Chicca
Daniele Chicca
Graduated in foreign languages and literature at the University of Bologna, with a year of undergraduate at the UCL in London. A professional journalist since 2007, in time he specialized in finance, economics, and politics. After three years with Reuters in Milan, he worked for several newspapers, contributing among other things to an increase in progressive traffic on the website Wall Street Italy and offering services of various kinds for Radio Rai and press agencies AGI and TMNews (formerly Apcom). At the moment he is responsible for the drafting, the editorial line and the coordination of an important economic and financial information website.