THREE QUESTIONS TO MIHAI DINULESCU, HEAD OF STRATEGY AT TURING SOLUTIONS
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 Mihai Dinulescu, Head of strategy at Turing Solutions:
1) First of all, can you present yourself and explain your interest in crypto?
I am involved with Turing Solutions’ team in Blockchain securities since the earliest attempts to combine regulation with decentralization. From Tether to Tezos, we have been at the core of the industry’s evolution. Their work has been featured in Forbes, WSJ, NYT, NASDAQ, and other opinion-leading national and international publications.
(2) Can you present Harbor?
Harbor is a harbinger of the next wave of tokenized securities. For years the few projects that have come out, from Unikrn to Tezos, have been uniquely difficult feats of regulatory negotiations. It seemed like while 2018 brought us crypto-winter, it also brought a sort of moratorium on securitization. Singapore and other countries that had initially liked their concept froze activity while regulators took time to finally research the topic with true depth.
For the first few years, the idea of making up money online sounded quite trite, if not drole. However silly it seemed at first, the internet of value would yet be a force to be reckoned with… after these messages from the 2012 bubble burst. The second wave of crypto growth reached far beyond MIT nerds and Silkroad thugs, and far beyond the original the few dollars, BTC peaked at the previous cycle.
(3) What will be tomorrow’s best use cases of tokenization ?
Today the industry feels like it has stabilized enormously from the nauseating volatility of ’16–17. The firms that survived Crypto Winter are filled with folks who’ve learned their lessons. Many new companies elect to avoid ICOs for the comparatively slow and ponderous cycles of traditional VC. Others go yet further still, nestling in the safety of serving Fortune 500 clients finally turning around to see the benefits of a powerful technology now that the hype has died down.
That last category provides some of the most interesting cases as Blockchain is perhaps nowhere more powerful a disrupter than in financial technology. The world’s largest market, by far, is that of financial derivatives. According to McKinsey, it totals 650 trillion USD, a number incomprehensibly large. However, these are the actual backbone of our entire financial system, and economic friction at this level is as opaque as it is complex. The current financial industry is riddled with intermediaries, and Tokenized Securities are poised to bring solutions to subtract unnecessary middlemen.
Harbor’s success in tokenizing real estate is showing the next wave of financial products is finally coming. These types of projects aim to provide first accredited and then retail investors with the tools to gain exposure to the same high-performance asset classes ultra-high net worth individuals and family offices purchase. As the European markets are showing clear regulatory norms, and Blockchain is more formally and widely recognized as the Financial Technology it is, I would expect a boom in the origination of syndicated securities that use Blockchain as a back end in 2020.
At the end of the day, tomorrow’s average user isn’t more likely to think of the Blockchain component behind an investment in real estate than today users consider TCP/IP in sending money via Venmo. The question is, which company will be tomorrow’s Venmo?