Bitcoinist just lately caught up with Bernard Peh, certainly one of solely 56 Ethereum Licensed builders on this planet, and picked his mind on his present undertaking, the state of the cryptocurrency market, and what being “Ethereum Licensed” even means.
Bitcoinist: You might be certainly one of solely 59 Ethereum Licensed builders on this planet. What precisely does “Ethereum Licensed” imply, precisely?
BP: To begin with, I prefer to congratulate B9lab for setting the golden commonplace in Ethereum Certification. As of in the present day, the passing charge (primarily based on the variety of college students who signed up) was about 15%. Principally, you can’t be licensed when you shouldn’t have excellent information of Ethereum and its high-level programming language – Solidity.
In concept, being “Ethereum Licensed” implies that individuals ought to really feel safer with my code within the Blockchain. I’ve deployed many Ethereum sensible contracts and I’m nonetheless very skeptical of my very own code as a result of immutability of the blockchain. I feel being licensed would possibly differentiate you from the remainder, however having a paranoid perspective is required if you wish to journey far within the blockchain journey. I’m proud to be one of many 59 Ethereum licensed builders on this planet. (On the time of this interview.)
Bitcoinist: Inform us a bit about your new undertaking, Blockbid, of which you’re the Lead Blockchain Technologist.
BP: The aim of Blockbid is to make cryptocurrency buying and selling extraordinarily enticing to merchants and aggressive with different exchanges. We would like our alternate to be very safe and have a really user-friendly UI. Subsequently, we’ve got determined to construct the majority of the alternate in-house. Which means we’ve got spent a substantial quantity of sources in getting high-quality builders. I’m glad that I’ve the prospect to work with the brightest minds within the trade.
My position is to liaise with the backend and infrastructure staff to make sure that all of the wallets for all our cash are applied accurately. Our customers will ultimately profit from our imaginative and prescient and the hassle that we put in. Everybody will be capable to commerce with confidence on our alternate within the subsequent few months.
Bitcoinist: What downside, particularly, does Blockbid resolve within the trade in the present day?
BP: Blockbid is being designed to assist merchants overcome three principal points; the inconvenience of needing to enroll to a number of exchanges, the unease related to having cash scattered throughout a number of (and probably untrustworthy) exchanges, and missed funding alternatives attributable to time lapses in transferring funds between totally different platforms.
Blockbid is the one alternate to supply an insurance coverage coverage to guard towards potential cyber-attack. Customers shouldn’t have to fret about their cryptocurrencies in our alternate as a result of they’re insured.
Bitcoinist: How will Blockbid shield customers’ funds towards potential cyber-attacks?
BP: Blockbid is the one alternate to supply an insurance coverage coverage to guard towards potential cyber-attack. Most different exchanges supply 2FA and for almost all of their liquidity to be held offline in chilly wallets. Whereas Blockbid may also supply 2FA and liquidity held in chilly wallets, it’s the solely alternate to supply a further layer of safety in having an insurance coverage coverage.
I really feel that the cryptocurrency market remains to be flooded with merchants doing pumps and dumps. This has brought on large instability within the value of cryptocurrencies, stopping mass adoption for day-to-day purchases. Most individuals utilizing cryptocurrencies in the present day are risk-takers or people who find themselves prepared to guess cash on their curiosity. I’d like to see wider adoption.
Bitcoinist: Has Blockbid needed to overcome any obstacles in relation to laws? How tough is it to adjust to totally different guidelines in several areas of the world?
BP: With latest laws final 12 months in December being handed by the federal government requiring Australian exchanges to register with AUSTRAC, we will proudly say that Blockbid is just the third recipients of an AUSTRAC license, which means they’ve been granted permission to legally function as a digital foreign money alternate, in response to Australian legislation. This follows on from the rules set out for Australian AML/CTF insurance policies and require all our customers to finish our KYC varieties earlier than buying and selling, previous to this we had been working beneath the rule of an AFSL license though now AUSTRAC has taken over because the regulatory physique and has been setting the necessities and processes for the cryptocurrency trade in Australia.
With reference to complying with altering laws in different nations, Blockbid stays updated and displays all information and data that might immediately affect its operations offshore and acts accordingly. For instance, restrictions and laws on US or China primarily based merchants had been intently monitored over the previous 12 months to make sure we function legally and in compliance with the laws of these nations.
Bitcoinist: What excites you most about working at Blockbid?
BP: All through my whole software program improvement profession, constructing a safe crypto alternate should have been essentially the most difficult of all and in return, essentially the most rewarding. There are a lot of shifting elements and plenty of issues to contemplate. The crypto panorama is altering very quick and the software program must adapt to the adjustments rapidly. Now we have to dissect each element and query the whole lot. We even have a really sturdy staff with a very good rapport with everybody. There have been a whole lot of hair pulling moments but additionally a whole lot of laughter and I feel our Chief Working Workplace, David Sapper, has performed a very good job in gelling everybody collectively. I’m actually glad that we worth the staff tradition greater than anything.
Bitcoinist: What do you are feeling are one of the best methods to judge a cryptocurrency?
BP: There are a plethora of cryptocurrencies to select from on the ever-expanding crypto market however there are some things you need to look out for when evaluating a cryptocurrency.
It’s best to all the time examine the event exercise of a cryptocurrency. A coin with an energetic improvement staff might be updating and patching bugs on a regular basis. If there aren’t energetic developments in a selected crypto, you need to steer clear.