THREE QUESTIONS TO ANDRAS VAJDA CO-FOUNDER & CEO OF ICONICCHAIN
They are our clients, our friends, good contacts or just people we met in the crypto community. They have a new vision, they are running great projects, they are developing new services or they just want to share their story. Havas Blockchain is interviewing key people of the blockchain ecosystem.
We are today with Andras Vajda, co-founder & CEO of IconicChain:
- Can you tell us a bit about your background and Iconicchain?
I am a technology nerd by nature, who spent a good part of his career leading cutting edge projects in large corporations. To name a few: network virtualization and cloud automation; security automation and usage of blockchain for security assurance. I built three successful corporate venture initiated startups that are today generating close to 1BEUR revenue for Ericsson, and failed once 😊
Iconicchain was born out of the realization of how inefficient compliance processes are within highly regulated industries: drug manufacturing; construction; and financial. We propose a transformation of how compliance is managed: instead of endless paper submissions, leverage a private blockchain network to securely share information relevant for assessing compliance and provide the tools for actually automating that assessment. This is why our logo is “compliance based on facts, not faith” — we enable the regulator and regulated company to automatically assess and prove compliance rather than trusting the paper-based reports.
2. Do you believe that the banking ecosystem will benefit from compliance blockchain-based systems?
Absolutely. In fact, it is happening already — our clients are using such solutions to great effect. It will be a snowball effect; within 10 years, all major regulators will operate platforms for automated compliance. And blockchain is the right underlying technology.
3. What is your vision, in the long run for the blockchain ecosystem?
I think the greatest benefit of blockchain is yet to materialize: and it will not be through public, but rather private installations that co-operating or even competing companies will use as the root of trust for digitalizing and eventually transforming existing processes. Supply chain tracking; compliance tracking; transaction management are the key use cases that are showing the most promise. And combined we are talking about a 1000BUSD market globally.