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Blockchain, Smart Contracts & Web3: Redefining Businesses

LAB51 Featured Image ANITA
By Anja Prosch
Anja Prosch

8 Min

October 19, 2023


Blockchain and cryptocurrencies have not only captured the imagination of tech enthusiasts but are also reshaping industries and opening up exciting new frontiers. Our special guest, Anita Kalergis, aka Kryptogranny, brings a unique perspective to this conversation. With a background in marketing and sales, she embarked on a remarkable journey in this field. Anita's insights shed light on the educational and therapeutic possibilities that these technologies offer, promising a transformative future.

Anita, tell us more about your journey and how you became involved in the Web3 and Crypto space.

I am a 60-year-old woman from Finland, currently residing in Dubai, UAE. With 40 years of experience in marketing and sales, it has been an interesting journey for me.

In 2017, I was exposed to a new technology called Blockchain, which provides security, transparency, and trust. At the time, I didn't have much of a tech background and was trying to figure out what it all meant. However, from the very beginning, I was fascinated by the concept of trust in technology. I started attending more blockchain events, and the more I learned, the more excited I became.

Later, I was hired as the COO of a blockchain project based in Malta, where I met more people who were interested in the subject.

I realized that many people found it challenging to convey the concept of blockchain to me in a way that was understandable for me. So, I took a proactive approach by conducting interviews and emphasizing clarification strongly.

In 2018-2019, I was influenced by social media to remind everyone that for technology to become mainstream, we need to involve everyone. As a result, I came up with the brand name "Kryptogranny.”

I encourage people to learn about technology, not to be afraid of it, and to be diligent in gaining knowledge, no matter who they are or where they come from. This is how we will create a better future.

How can blockchain and fintech solutions help SMEs and startups access capital and market opportunities?

The lack of human resources and companies equipped with blockchain technology knowledge is a growing problem. Although people have some understanding of blockchain, it is only at a surface level. However, blockchain can open up many financial opportunities for businesses.

Blockchain technology's decentralization revolutionizes business financial architecture by eliminating intermediaries and promoting trust, transparency, and unmatched security.

This innovation is especially impactful for investor relations, as blockchain platforms enable direct interactions between investors and companies without requiring third-party validation or mediation.

Additionally, blockchain extends its transformative potential beyond financial transactions and can benefit the entire business process, providing unique advantages to companies, startups, and SMEs.

In what ways could smart contracts built on blockchain technology fundamentally transform business operations?

I am a huge fan of smart contracts because they offer remarkable trust and transparency. The basic premise is that code is law - the automated system is written in code. This means that when A occurs, B follows, and the outcome is always C. The use of blockchain-based smart contracts could significantly reduce human involvement in various processes, from legal arbitration to accounting, resulting in a paradigm shift for businesses.

This shift minimizes the possibility of human error and lowers the additional costs that intermediaries typically charge.

Additionally, smart contracts present a vast frontier of innovation, allowing us to rethink conventional systems and envision how self-executing contracts could change the fundamental ways we conduct business, ultimately redefining our economic future.

Equity, Regulations, and Interoperability

What steps can governments and regulatory bodies take to strike a balance between emerging technologies and ensuring consumer protection and regulatory compliance? And how can the business adapt?

For a traditional organization to succeed, it must prioritize bringing all employees onto the same page. Proper training, education, and support must help coworkers develop the necessary skills and knowledge. This will help ensure that everyone has a strong foundation to work from and can contribute effectively to the organization's goals. There is currently a significant gap that needs to be bridged between the Web2 and Web3 worlds.

To start, it's essential to comprehend the differences between these two internet eras. Further, it's essential to involve corporations in this understanding at a management level to determine what aspects of traditional knowledge we should retain and what changes we need to make as we transition into Web3.

One of my favorite topics is usability and UI. When creating something new, it is crucial to ensure that usability is adaptable to all users. Access to technology should also be affordable, including internet and devices. It is time-consuming and costly to make these modifications. Hopefully, companies will find ways to overcome these challenges.

How can DeFI contribute to sustainable business practices and social initiatives and provide an example of successful community building?

DeFi can be quite a headache when it comes to the crypto side. One of the biggest challenges is achieving decentralization. I think too many businesses are still attempting to build decentralized projects without truly understanding what decentralization means. Decentralization requires a new way of thinking, and it is essential to comprehend the concept before attempting to utilize it in any project.

One of the issues with blockchain technology is the lack of a legal entity, which poses a problem for regulators. While discussing blockchain's financial liberation, it's important to acknowledge our individual and collective responsibilities to take advantage of these opportunities for economic advancement.

Despite having access to various financial services, some communities are still deprived of these resources. Some companies are working towards bridging this gap, but this is only the beginning of a long journey towards building our desired economic landscape. Decentralized Finance (DeFi) presents us with an excellent opportunity to manage our money, but we still need regulations and a clear understanding of decentralized governance.

The Future of Tech Access: Risks and Rewards

In your opinion, what possibilities and risks can organizations consider to ensure equitable access to emerging technologies and financial services?

Regulations and laws are one of the areas where risk is present. The regulatory landscape constantly changes from one country to another, making it unstable and difficult to predict. Although there are many innovative projects, they often face resource limitations.

Moreover, after a business is created, it may become clear that the idea is illegal, which can be frustrating. Additionally, technology is still developing, and many scams exist.

Another important factor to consider is interoperability, which is currently lacking within the blockchain landscape.

As blockchain systems increase, the lack of seamless communication leads to ecosystem fragmentation and limits scalability. It is crucial to address this interoperability issue to create a unified and efficient blockchain infrastructure.

The difference between Web2 and Web3 is important to understand, especially for resource-limited projects.

Last but not least, it's essential to comprehend the tasks, the tools, and the team you work with.

As blockchain and Web3 technologies become more mainstream, what skills and competencies do you think will be in high demand for professionals in this field?

One of the key skills required in this changing landscape is community building. Traditionally, businesses have not placed enough emphasis on community building regarding technology growth.

Effective community building requires a deep understanding of the subject matter and strong collaborative and communicative skills. These competencies enable people to recognize added value, work in synergy, and sustain engagement, which are vital for technological advancement.

It is critical for companies to prioritize innovation over business strategies when it comes to comprehending new technologies. To navigate the abundance of emerging technologies, one must comprehensively understand their functionalities and be aware of the legal frameworks that govern their use.

Cryptocurrencies have garnered significant attention recently, but their volatility and regulatory concerns persist. How do you see the future of cryptocurrencies shaping up, and what impact might they have on traditional financial systems?

Despite the negative media portrayal of cryptocurrency being predominantly associated with illicit activities such as terrorism or money laundering, the actual rate of crypto-related crimes remains relatively low.

Unfortunately, this skewed depiction has tarnished the reputation of cryptocurrency, perpetuating unfounded stereotypes. Therefore, it's important to understand the technology's practical benefits, including its ability to enable speedy and transparent transactions and to tokenize and monetize data in novel ways.

When it comes to the prospects of a single, universally accepted cryptocurrency persisting over the long term and gaining worldwide adoption, it appears rather improbable. This is primarily due to the intricate nature of achieving a unanimous consensus on such a multifaceted and complex issue.