Interesting​ ​talk​ ​with​ ​Egor​ ​Egerev​ ​about​ ​blockchain​ ​and ICOs

Blockchain is the technology industry’s future. In order to understand more about it, we interviewed Egor Egerev, who is CEO and founder of Crypto Tickets. Egor has over 12 years of experience running music festivals and technology solutions for massive entertainment event organisers. He’s also the founder of the largest industry conference in Russia, Moscow Ticketing Forum.



As​ ​a​ ​successful​ ​entrepreneur​ ​and​ ​founder​ ​of​ ​blockchain​ ​solutions,​ ​could​ ​you​ ​briefly​ ​tell for​ ​beginners,​ ​why​ ​startups​ ​are​ ​implementing​ ​blockchain​ ​into​ ​every​ ​idea?​ ​Does​ ​blockchain make​ ​these​ ​ideas​ ​more​ ​profitable?

I’m seeing two main reasons that leading people are throwing everything against blockchain and see if it sticks. On the one hand, it’s all the hype surrounding this particular set of technologies; but on the other, some of those entrepreneurs are indeed looking to test new approaches to some of the existing problems. It’s much harder to be doing the latter as blockchain isn’t one-size-fits-all.

Can blockchain increase profits in specific industries? In the future - yes, but it’s more about the matter of business models and not technology stacks. We’re at the stage when the infrastructure is only being built, and a lot of questions still are lacking answers. It’s always harder and more expensive to be at the forefront of innovation.

How​ ​do​ ​you​ ​see​ ​blockchain​ ​technology​ ​evolving​ ​in​ ​the​ ​next​ ​five​ ​years​ ​from​ ​now?

The speed at which technology finds its way into everyday life is unimaginable by yesterday’s standards, so it will only take five years for blockchain to notably affect our way of life. Things like cryptocurrency markets, rules of ICOs, and blockchain implementation and use will be regulated one way or another in most countries. The market will have to survive more than one storm. A lot of post-ICO projects will die, but the overall market cap will grow many times over.

The regulations will attract big fish from the stock markets for sure. We will see multiple success stories of decentralization in many spheres and niches. The banking sector will undoubtedly transform a lot. I wouldn’t leave out tokenization of entire nations, with emissions of local currencies as cryptocoins, coupled with all transactions and billing systems becoming blockchain-based. It’s hard to tell which country will have the guts to blaze this trail.

It​ ​looks​ ​like​ ​there​ ​is​ ​this​ ​significant​ ​shift​ ​happening​ ​in​ ​the​ ​startup​ ​world​ ​of​ ​blockchain bubble.​ ​There​ ​are​ ​already​ ​tons​ ​of​ ​cryptocurrencies​ ​launched.​ ​Do​ ​you​ ​think​ ​that​ ​ICO​ ​world​ ​is going​ ​to​ ​get​ ​as​ ​crowded​ ​as​ ​the​ ​App​ ​Store​ ​or​ ​Google​ ​Play,​ ​what​ ​is​ ​your​ ​opinion​ ​about​ ​it?

Definitely yes. Blockchain will become part of our daily life as much as the Internet did back in the day, yet its influence will be even greater. The Internet was just the first stage of the global overturn; then we had mobile, now it’s blockchain turn.

Cryptocurrencies are just the tip of the blockchain iceberg, and people have yet to comprehend and appreciate the real potential of the decentralized economy. Cryptocurrencies are only one application, and quite narrow at that.



What​ ​is​ ​the​ ​benefit​ ​of​ ​having​ ​many​ ​different​ ​cryptocurrencies?​ ​Can​ ​these cryptocurrencies​ ​somehow​ ​overcome​ ​the​ ​existing​ ​world​ ​currencies​ ​and​ ​most​ ​importantly can​ ​millennials​ ​fully​ ​adapt​ ​to​ ​cryptocurrency​ ​usage?

Each currency has its own application, e.g., Bitcoin is perceived as crypto gold, with slow and expensive transactions that aren’t suitable for everyday shopping. On the other hand, we have DASH, a digital cash for fast, frequent, and inexpensive transactions. I believe that cryptocurrencies will dominate in the long run, and many governments will switch to blockchain money. Millennials will have no trouble adapting; it’s much easier for them.

You​ ​are​ ​using​ ​blockchain​ ​as​ ​well​ ​to​ ​disrupt​ ​ticket​ ​sale​ ​industry.​ ​That​ ​makes​ ​sense,​ ​but why​ ​did​ ​you​ ​decide​ ​to​ ​do​ ​it​ ​via​ ​blockchain,​ ​what’s​ ​the​ ​idea​ ​behind​ ​it?​ ​Did​ ​you​ ​want​ ​to​ ​have your​ ​own​ ​ICO?

Blockchain is a perfect fit for the ticketing market: yesterday, we had paper stubs, now we have unique ID numbers, tomorrow it’s going to be a token. With or without our help, it’s hard for me to imagine it any other way. We couldn’t remain on the sidelines when we saw that blockchain was the technology capable of solving all pain points that are most often discussed at industry conventions.

Counterfeiting, scammers, bot-enabled mass purchases, uncontrollable resale market - our blockchain platform can handle them all. In the modern, fiercely competitive world every event centre (football & hockey arenas, art galleries, etc.) needs to be continually improving its efficiency to remain competitive and profitable. It’s time to realize that every event is a business transaction, and your attendees are your primary customers.

As with any customers, spectators have their pains, their emotional and rational expectations that they buy from the ticket distributor. Whoever sells the actual tickets is almost always associated with the event. For example, hard to get, expensive musical tickets that cast a big shade on the actual musical, even before the action begins, even if the ticket sellers have nothing to do with the actual producers and creators.

Today​ ​we​ ​have​ ​Fortune​ ​500.​ ​Do​ ​you​ ​think​ ​that​ ​in​ ​the​ ​near​ ​future​ ​there​ ​could​ ​be​ ​an​ ​ICO 500?

There’s no need to invent a new list and call it ICO 500. In the near future Fortune, 500 will consist mainly of ICO companies which will dislodge corporations from their place in the ranking.