On CryptoKonf, Blockchain, Bitcoin & More

Spotlight
01 May 2018
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Taxlinked members are eligible to receive a 20% discount to CryptoKonf. If you're interested, please check out the offer on our forum discussion found HERE.

Taxlinked (TL): What led you to organize CryptoKonf, the largest crypto, blockchain, fintech and compliance conference in southeast Europe?

Nikola Korbar (NK): I wanted to organise a conference that would stand out from the other conferences on similar themes, as there was very little interest from the corporate sector to participate in them. This is why we are creating a conference that presents the full scope of what cryptocurrency and blockchain have to offer to both the public and private sectors, including its role in both compliance and the fintech world as well. This event is truly something that every participant will enjoy.

TL: What are some of the main objectives of CryptoKonf?

NK: The main objectives of CryptoKonf are to establish a clear vision of the following: 1) Where cryptocurrency development is heading; 2) What blockchain as a technology can offer to public services, companies and various other industries; 3) What is the future of cryptocurrency and blockchain regulation, and; 4) What are latest achievements in the fintech sector.

TL: What are some of the latest trends in fintech that have caught your attention?

NK: What has mostly caught my attention in fintech is the rise of fast payment solutions and mobile wallets. I see it as a response to the rising popularity of cryptocurrencies, and I'm very glad to see that this sector is evolving quickly as well.

TL: In terms of taxation, how do you see blockchain technology facilitating the levying and collection of taxes throughout the globe? Have there been cases of national, regional or local governments using blockchain to help them with this process?

NK: Blockchain can offer enormous contributions to the global taxation system by providing a tamper-proof system that ensures that there are no privileged parties and that all citizens are paying the amount they are supposed to pay. However, we are still at least 5 to 10 years away before that kind of system can be effectively implemented by governments throughout the world, as most experts are now involved in more profitable projects in the private sector and we are still waiting for the adequate regulations to make it possible.

TL: Are you bullish on Bitcoin’s prospects as a legitimate, safe and long-lasting type of currency?

NK: I'm bullish on its actual price, but I do not believe that Bitcoin will keep the position it currently has. We are still talking about the oldest cryptocurrency in existence, and after almost 10 years of existence, it still has a processing power of 5-7 transactions per second, which is still ineffective to handle large number of transactions. My bet is on newer, faster cryptocurrencies with faster transactions and safer protocols.

TL: In your opinion, what are some of the main challenges in terms of compliance when it comes to cryptocurrencies?

NK: Definitely anonymity of the users. KYC and AML are a must, and that is being enforced in almost any crypto exchange in the world. Also, most regulators still do not realise that cryptocurrencies can be created to be transparent and, as we can see from Venezuela, Russia and Dubai, national cryptocurrencies are also very important topics to consider, as their benefits are much bigger than the current e-card systems that we use today.

TL: Anything else you would like to share with our community?

NK: I believe that professionals from the fields of taxation and accounting need to be informed more about benefits that cryptocurrencies bring (along with the blockchain, of course), as they can greatly improve the financial system around the world. If our readers have any thoughts or questions regarding these areas, they should feel free to ask me anything that they might find interesting.