Anndy Lian is an international blockchain and cryptocurrency consultant and advisor. He is a blockchain advisor to the governments of Australia, China, India, Japan, New Zealand, and Singapore. He has consulted on projects in the blockchain, cryptocurrency, and fintech sectors for a number of international banks, financial institutions, government agencies, and multinational corporations. He is also the author of the book, Blockchain for Dummies.
In this interview series Anndy Lian (anandylian) will be sharing his thoughts on blockchain and the future of cryptocurrency. He is an experienced disaster consultant, an Inter-Government Blockchain advisor, and a blockchain author, with a focus on privacy and scalability. He has extensive experience with blockchain and cryptocurrency. He holds a PhD in Disaster Risk Management, and a Masters degree in Risk Management, and a Masters degree in law. He is currently a Lecturer and Senior Lecturer at the University of Technology, Sydney (UTS), Australia. He is a joint author of the paper ‘Blockchain as an Inter-Governmental Disruptor: A real world use case’, which was published in the Inter-Governmental Disrupt
Andi Lian is a consultant in various sectors for local, international, listed companies and governments. He is an early adopter of Blockchain and an experienced serial entrepreneur, book author, investor, board member and speaker.
Now he has been appointed to the advisory board of Hyundai DAC, the blockchain division of South Korea’s largest automaker Hyundai Motor Group, where he focuses on governance and compliance issues. He is also the chief digital advisor to the Mongolian Productivity Organization and advocates for digitalization in the country.
Andi is also a member of the ad hoc blockchain committee of Gyeongsangbuk-do Province, Government of the Republic of Korea, alongside industry experts such as Brock Pierce (President of Bitcoin Foundation) and Alexis Sirkia (Founder of Yellow.com), to help the province grow through blockchain technology.
He is the President (Singapore) of the Korea Cyber Sport Industry Association (KeIA), where he actively promotes cyber sports to the masses and accepts cryptocurrencies.
When did you first become interested in blockchain and cryptocurrencies?
I first became interested in cryptocurrencies, and my interest grew significantly after reading a report by Satoshi Nakamoto called Bitcoin: Peer-to-peer electronic money system in 2010. We have only used bitcoin as a credit for online goods exchange. Maybe to download music, game accounts, etc.
As for blockchain, that was in 2016. As an investor in the healthcare and medical industry, I was invited to a face-to-face meeting with healthcare professionals and a pharmaceutical company. That’s when I realized the importance of blockchain. It contributes to the fight against counterfeit medicines and medical products. When used correctly, it can improve the existing search and retrieval model. Since then, my interest in both has grown.
You’ve talked to a lot of regulators. What are the biggest questions or concerns they have about DeFi and cryptocurrencies?
What regulators are most concerned about is striking a balance between innovation and unregulated financial activity. I would venture to say that all regulators are excited about Blockchain and agree that it can work wonders.
For unregulated activities such as. B. ICO in 2017, they are concerned that token buyers will fall victim to fraud and buy financial products they know little about. This creates additional problems and may lead to further bankruptcies and social unrest. When such problems arise, who solves them? Binance? Huobi? Twins? Coinbase? The answer is no. Governments need to step in to help their citizens.
What are the biggest challenges in the industry that you see at DeFi ?
KYC/AML violations: Not knowing who is who and where the money is coming from is one of DeFi’s biggest problems these days. If such transactions take place between unknown parties and they break the rules, the consequences can be very damaging. Nonetheless, it is significantly improved over the previous era.
Liquidity problems : This is still a problem, although we can see that PancakeSwap is doing very well with its volume. There is still a clear competition between the CEX and the DEX. There is also price competition between the channels. If you see the competition, the money flow is very clear, some people leave channel 1 all the way for channel 2 because channel 2 is new and they can get more out of it.
DeFi is very difficult to use: The user interface and the user interface have been significantly improved. This is still not an easy task for many. Do you know how to activate expert mode? Why can’t I sell my parts? Where are my coins? Slipping? Many people reading this article will know that similar problems have happened to them, and that more and more problems are added every day.
What cryptocurrencies are you currently interested in?
Bitcoin and the other major cryptocurrencies continue to interest me, even though some of them have not performed well over the past two years. New cryptocurrencies with innovative tokenomics, such as Safemoon, have interested me in recent months. Other NFT and MEME projects also caught my attention.
What is the most important feature you consider when considering new cryptocurrencies?
Concept, marketing, community, technology and business.
Here are 5 things I look for when reviewing new cryptocurrencies. The project must have a good concept and solve certain problems. With good marketing, it can gain support from the community at large. Technology will help them in their tasks. Finally, and most importantly, it must be able to generate revenue.
Never forget that: All hype, but no action = a failed project.
You have spoken a lot about NFT in the past, what is your current opinion in this area?
The NFT space is getting more and more exciting. Twitter also joined this group recently, giving away 140 NFT of Ethereum on Rarible. I see more and more artists, movie stars, athletes, luxury brands and politicians getting into cryptocurrencies through NFT.
The downside is that there aren’t enough users on many platforms to buy an overflowing creation. Many of the requirements you see may not match the actual need. Next year we will see creative people go bankrupt and only the most resilient will survive.
However, this area will develop more rapidly and has not yet reached its full potential.
You are currently the President (Singapore) of the Korea Cyber Sport Industry Association (KeIA), where you actively promote cyber sports to the masses and accept cryptocurrencies. How has the gaming community in South Korea reacted to the mixing of cyber sports and cryptocurrencies?
South Korea is strong in both cryptocurrencies and gaming. I can’t speak for all the players in South Korea. All I can say is that it is the fastest growing country in esports and cryptocurrencies.
Thanks to the COVID19 situation and cryptocurrencies, more and more semi-professionals have become full-fledged professionals. Players will receive cryptocurrency rewards immediately after completing the game. It becomes a source of income that allows them to live despite the blockade. It’s a win-win situation.
You believe that the blockchain industry needs to be re-centralized, can you explain this vision?
I started advising governments earlier than most of my colleagues. Most of my colleagues believe that we need full decentralization to grow cryptocurrencies. No governments, no banks. Of course, they think I’m crazy, too.
I think that if we want to develop, we should reconsider the word decentralisation. If we can re-centralize things properly, we can get recognition faster. It has been well preserved over time
Is there anything else you’d like to share with us about the industry or are currently concerned about?
I think all the pieces should coexist.
This industry needs to mature over time and not operate on the basis of frivolous price gouging, laundered transactions or outrageous FUD.
Let’s work together in the right way.
Thank you for this great interview. Readers who want to know more about Andi and her views are invited to visit Andi Lian’s website.
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