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ReCheck’s CEO believes that blockchain has empowered people to take again control of their personal data.

Emiliyan Enev, the CEO and co-founder of ReCheck, a blockchain startup situated in Limburg, The Netherlands, has hailed blockchain know-how and its quite a few purposes.

In a current interview, Enev mentioned blockchain is nice for such processes and use circumstances the place safe data alternate, traceability, automation, and transparency are vital. He acknowledged that;

“The digital ledger technology plays an important role as a layer and component on top of existing platforms that enable real ownership of data and direct exchange of value between users. I believe that before web3, we need to achieve web2.5 – interweaving and integrating blockchain into existing systems. What’s exciting to me is the opportunity to take back control of our personal data and decide what information we share with whom, as well as getting a direct return on the content we generate. The other option is to have ownership of the platforms and products we use, and so get a share of the value they generate.”

Several international locations are actively regulating cryptocurrencies or are within the course of of rolling out rules. Enev added that he thinks cryptocurrency regulation will have an effect on blockchain improvement within the coming years. He mentioned;

“Regulations will certainly have a strong effect on it. On the one hand, they protect investors and consumers. But on the other hand, they can be a brake on innovation and create barriers for start-ups and small companies. It is important to me that regulations are bottom up, not imposed from above, and that they do not privilege only the big players.”

The crypto market has been in a bearish pattern because the begin of the yr, principally due to the rising rates of interest in quite a few international locations. Enev mentioned he doesn’t assume the market will recuperate so long as the rates of interest maintain rising. He mentioned;

“As long as there is a restrictive monetary policy and high-interest rates, it will be difficult to see a recovery in cryptocurrency prices. I expect that a few notches will dominate in the coming years, and their token prices will sustain a higher price. Altcoins will have almost no value.”

The crypto market has misplaced greater than 65% of its worth over the previous ten months, with the whole market cap now beneath $1 trillion.