Interview Series #2 Syscoin

Today we have a unique interview with Dan Wasyluk, team lead for Syscoin, a blockchain-based decentralized marketplace platform.

Syscoin is a cryptocurrency like Bitcoin or Ethereum that adds the ability to buy and sell items/goods/services directly through the wallet. They have been making amazing advances in the past few months, catching the attention of the entire crypto-community. And us! We decided to interview them to find out more.

 Syscoin Interview

Q: Hi Dan. Glad you could make the time. Please tell us more about yourself and your history with cryptocurrency.

I’ve been in the cryptocurrency space for about 5 years for which I’ve been developing cryptocurrencies myself for about 3 years. I got started with some open source projects I became a major contributor to which lead me to realize the value blockchain based technologies could provide beyond simple currency transfer. Myself and some other contributors I’d met then went off to start what would eventually become Syscoin.

Q: That’s impressive! Syscoin has been around since mid 2014 and there was a lot of drama with Moolah, the theft of your ICO funds, and hats. Why is that in the past now?

We’ve learned a lot since 2014. Some lessons were harder than others- I’m not trying to bring up the past but let’s just say we’ve definitely learned from it. That history and those lessons fundamentally changed how we went about everything from development to community communication, turning us into the team we are today.

Q: For more than a year and a half, Syscoin has worked on a decentralized marketplace. The release of the beta was on February 28 and it was a huge success. What are the next steps and your goals for 2016?

Thanks- the next steps as we approach, and directly following the successful release will be merchant adoption. I really think that merchant adoption is the fundamental key to any marketplace’s success- decentralized or not. To that end we’re incentivizing merchants who list items early and we’re working directly with them to improve the experience as well. Following the release one-click integrations ranging from eBay to Shopify will become the next major development focus- again targeted at increasing merchant adoption.

Q: Which features in the marketplace are the most impressive right now and what would you like to add in the future to improve it even more?

That’s a tough question! I personally really like the encrypted messaging feature built directly into the wallet and available via new API commands. When it comes to direct marketplace functionality (since messaging is really complimentary) I think the ability to sell digital items which are actually hosted on the blockchain and automatically transferred on purchase, complete with escrow for buyer protection, is really impressive because it leverages three unique mechanisms provided by Syscoin and makes things easy for the merchant with the auto-transferring.

Q:Do you see a future where people buy and sell items over the Syscoin marketplace rather than eBay or Amazon?

It’s a lofty goal no doubt but its something we’re shooting for. If eBay and Amazon even start to recognize the Syscoin marketplace as serious competition I think we’ll be on the right path. It will take time but we’re committed to following through on the 2.0 launch with follow-on deliveries and marketing to try and reach that goal.

Q: At the moment there is only a desktop application. A lot of people prefer a web or mobile application. Is a web wallet in the works, or iOS and Android Apps?

Yes you make a great point and we totally agree! A web wallet, something we call ‘Blockmarket’ has actually already been built and was publicly tested on a much, much earlier beta. Blockmarket is a full blown marketplace experience in the browser akin to WordPress for marketplaces, and of course also serves all the proper wallet functionality and more once logged in. Complimentary marketplace features which wouldn’t be reasonable to store on the blockchain can optionally be stored via Blockmarket’s local database. Blockmarket is also a one-click deployment if people would like to host their own. It is fully mobile friendly and themeable. We have an old Android wallet but will be rebuilding new Android and iOS wallets with complete Syscoin 2.0 experiences that are consistent across both platforms for our next major mobile release. The mobile deliveries will come late in 2016 but Syscoin 2.0 will be mobile enabled via Blockmarket shortly after launch.

Q: A marketplace concept like Syscoin holds a lot of legal challenges. How does the team approach them? 

We recognize better than anyone that there’s really nothing like the Syscoin decentralized marketplace out there, and to that end we’re taking steps to ensure the Syscoin team is insulated from any legal grey areas. We’re retaining legal counsel to help us craft a EULA that absolves the team of any liability related to activity on the Syscoin network.

Q: Your marketcap was below the ICO price of about 500 Satoshi for a long time. It has recently doubled that price. Where do you see Syscoin in a year from now?

Given the functionality Syscoin provides and the dedication the team has already shown I think that a market cap of $5-8 million would not be unreasonable. If Syscoin 2.0 really gets traction I have no idea where things could go!

Q: You recently put out a Twitter post implying a new development partner. Can you tell us more about that?

At the moment we can’t release any details, but yes, we are now development partners with a large recognizable IT company that is branching out into blockchain technology. We’re very excited to share more. They will be posting perhaps Monday or Tuesday, after which we will publish our own post on the topic.

Q: Thank you for your time. It was a pleasure to interview you. Any comments to the community?

I encourage any people new to Syscoin to check out our blog (http://syscoin.org/blog/) and our reddit (http://reddit.com/r/syscoin) – search for “Team Notes” – to catchup on some of the recent months work with Syscoin. I also hope those interested will come join us in our slack channel (http://join.syscoin.org / http://syscoin.slack.com) and chat with us some time. Thank you for taking the interest in Syscoin!

 

Did you like our independent Syscoin Interview? Then check out our Twitter – A lot of community projects are going on!

2 comments

  1. Very good blog! Do you have any suggestions for aspiring writers?
    I’m hoping to start my own site soon but I’m a little lost on everything.

    Would you recommend starting with a free platform like WordPress or go for a paid option? There
    are so many choices out there that I’m completely overwhelmed ..
    Any suggestions? Many thanks!

Leave a Reply

Your email address will not be published. Required fields are marked *