Blockcast.cc: I am Joann, editor of Blockcast.cc. Crypto is heading towards exciting times. Bitcoin is outperforming many assets in the world and Altcoins are very promising with some giving good returns. Today we speak to a finance professional, Sidharth Sogani, Founder of CREBACO Global Inc.
Hi Sidharth, can you tell us more about yourself?
Sidharth: I'm a traditional finance professional. Started with little trading in Bitcoin in 2016. I'm also a part of our decades-old family business of textiles.
I have learned Banking, Finance, international business, foreign trade, and I'm also a Certified Bitcoin Professional
Blockcast.cc: Can you share with us about CREBACO Global?
SidharthCREBACO is Credit Rating for Exchanges Blockchains and Coin Offerings. We started CREBACO with a vision to reduce scams, help in the introduction of regulations, and make the industry more trustworthy and reliable by building benchmarks for the crypto industry.
We use over 150+ parameters with thousands of datapoints mainly covering the Legal, Tech, Financial and Due Diligence of a project. We are focused on emerging technologies, Mainly Blockchain and Crypto projects globally, and have one of the largest comprehensive research databases of over 2500+ projects.
Blockcast.cc: Why do you believe in Bitcoin?
Sidharth: Below are a few of many reasons:
- Because the network is unstoppable. If you would have asked me this question in 2016, I would have replied with reluctance, but today, I'm sure because the network has grown significantly. The bigger the network, the deeper and better it becomes.
- It is unlike traditional financial instruments. It is a non-correlated asset. This means that geopolitical, calamities, pandemics, etc don't affect it directly.
- It’s not inflationary like other assets classes. It rather instigates deflation or consistent movement forward.
- Its a debt-free instrument. This means that the government or the Federal Reserve takes responsibility for the value of the currency note. But Bitcoin doesn’t as it's a network
Uses push vs pull mechanics - Only the one who has the private keys and move the crypto in a wallet, if not, the crypto is safe unlike Banks debited us all the time for balance maintenance, transaction charges etc.
Blockcast.cc: What is the future of cryptocurrency?
Sidharth: Its definitely bright. In future, there will be believers. Who believes in a specific mode of payment.
It'll be a world with 1000s of payment options including credit cards, net banking, crypto, payment gateways etc.
It won’t be just cryptocurrencies but several digital assets cryptographically secured. For example, the stocks which we buy at a traditional stock exchange will come in your hardware device directly without any third-party settlement partner or custodian. It won't take T+2 days to get the complete delivery in your Demat accounts. What’s more, is that you can exchange that stock to settle a transaction as well. This is the power of blockchain and decentralization.
Blockcast.cc: Do you think blockchain technology may not grow as big as some of us think? What is your vision for blockchain adoption?
Sidharth: I think Blockchain gives the best result when it is a decentralized public chain. A centralized DLT doesn’t solve major problems as we already have state of art SaaS like SAP ERPs etc. Yes, it does significantly help governments maintain national-level records for public databases, this helps in making the information reliable and immutable. It will also help in quick verification among several departments of a country’s administration. But it certainly makes not a great difference for private organizations. For them, it is more of a hype to increase the valuation.
Blockcast.cc: In your opinion, what is the best blockchain use case?
Sidharth: Bitcoin transaction confirmation
Blockcast.cc: If you have 100 million dollars, which part of the blockchain and crypto ecosystem will you invest in?
Sidharth: I’ll invest all in Bitcoin, without thinking twice. One-shot! one buy order at the market price!!
Blockcast.cc: Do you really think Bitcoin is decentralized? And is above a government?
Sidharth: Bitcoin is the best example of decentralization on this planet. And its there for a decade now, unstoppable by several government attempts. I think, stopping or banning Bitcoin is not even an option. But yes, I would like to mention one thing, Some large crypto corporations are putting their hands in all parts of the blockchain and crypto ecosystem, due to this they have more control over the price of Bitcoin to a certain extent. I’m not saying that their growth is wrong, but I mean that there is a need for newer organizations with better ideas to maintain a balance.
Blockcast.cc: Can you share an inspiring quote for our readers?
Sidharth: Well, I would like to modify the dialogue from The Matrix,
You take the blue pill - the story ends, you wake up in your bed and believe that the financial system you have been taught is the best and the only solution for the economy. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes.
Another one which I think makes sense is that people don't understand the decentalisation and Bitcoin ecosystem. That is because “the Alfred Marshall of Decentralised Economy is not born yet”.
Blockcast.cc: This is a great interview Sidharth. Our readers will benefit from your thoughts.
Sidharth: Thanks Joann.
Blockcast.cc: Follow Sidharth at https://twitter.com/sidharthsogani and do come by to www.blockcast.cc for more news and insights.