Sebastian Schepis, Syscoin, Creator and Core Developer: Cryptocurrency


Ok, so Seb, how does Syscoin work in comparison to Bitcoin? So fundamentally, the core of Syscoin is based upon the Bitcoin protocol. But what we’ve done is we’ve extended it to add additional services and functionality. It’s actually interesting because one of Satoshi Nakamoto’s original visions was to have a distributed marketplace available on the bitcoin network itself. And we’ve actually taken that vision and made it a reality. So we’re pretty excited about that. Yeah, for sure. So Syscoin uses a decentralized network and can you just explain what that means and how is that beneficial. Sure. So Syscoin doesn’t actually use a decentralized network, it is a decentralized network. And it’s really the power of the network that makes cryptocurrency what it is. And the whole thing is cryptographically secure- by math, right? And so it enables things like currency transfer as well as the ability for people to actually list whatever they want to sell on the Syscoin network directly. And what about when it comes to regulation and cryptocurrency? So we’re big believers in self-regulation. We’ve all kind of come together in the crypto industry to self-regulate ourselves. Because we know that a certain amount of regulation is important but, on the other hand, it turns out that markets actually do run pretty efficiently without a ton of regulation. Right. So, we’re kind of trying to find that middle ground Where we’re not really, necessarily approaching the government right now because there really isn’t a good means to do that or mechanism to do that. But we’re certainly participating with other folks in the industry. Like for example we sit on the Decentralized Identity Foundation. And that’s just one of the groups that we’re talking with right now. And what about fraud when it comes to cryptocurrencies, how safe are they to use? So in the history of Bitcoin it has never been hacked. Not once. If there is an attack on the system, it’s always going to be an attack on the human elements because those are the weak point, not the math. The math is the math. Perfect. Seb, thank you very much. Thank you for your time.

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