• Tue. Jun 18th, 2024

Cuautemoc Weber of Gateway.fm Explores Abstracting Complexity of Blockchains & More

Walter Swift

ByWalter Swift

Nov 26, 2023

Cuautemoc Weber, CEO at Gateway.fm

Just how complex are blockchains?

How have regulatory responses changed the adoption pace?


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Are we “there” yet in the cryptospace?

What will come next?

These are some of the many questions Cuautemoc Weber, the CEO of Gateway.fm sought to answer.

Here’s what he had to say.


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E-Crypto News:

Hi Temoc, thanks for taking the time to chat! How is Gateway.fm broadening the accessibility of blockchain technology?

“Sure, happy to be here! We are firmly committed to democratizing access to scalable Web3 infrastructure, while empowering Web3, Web2 and enterprise developers to do their best work in a supportive and purpose-built environment. As part of this mission, we recently launched Presto – our Zero-knowledge based Web3 platform as-a-service. Presto is designed to greatly simplify deploying and operating Zero-knowledge rollups, allowing any non-crypto user to deploy a state-of-the-art full E2E zk-validium or zk-rollup within a couple of clicks and minutes.

It might sound complicated, but let’s take a simple example. Think back to the 90s, when the process of building a website was extremely complex, and pretty much only skilled web developers could do it and those developers were few and far between, making matters more complicated. Fast forward to modern day, now anyone can create fully functionable websites without even thinking of the underlying architecture. This is the vision we have for Presto, to abstract away the complexities of blockchain, and to make the technology easy to use and build on top of, without requiring extensive knowledge in cryptography or blockchain protocols. Presto further simplifies the establishment and upkeep of blockchain networks, lowering entry barriers for businesses seeking to tap into the potential of blockchain. Ultimately we want to help onboard entire new segments into the space, helping them explore the amazing use cases of blockchain, unlock new revenue models and leverage the powerful automation capabilities inherent to blockchain.”

 

E-Crypto News:

What is your view on the current crypto regulatory landscape?

“I think with crypto there is always a risk of both under-regulation and over-regulation. However, overly-stringent measures that suppress innovation will always be called out by the industry. Recently we’ve seen the SEC take a stern approach when dealing with major platforms such as Kraken, Coinbase and Binance, maybe this is somewhat of a muscle flex to the rest of the industry. Obviously the SEC wants to develop a framework that safeguards investors while promoting responsible growth within the crypto space. I believe this is best achieved through consultation with industry stakeholders who are ‘in the trenches’ so to speak, who want the space to evolve with the principles of transparency and security. However, it seems that many policy makers around the world are starting to realize the opportunities that this technology presents, and are trying to establish regulatory frameworks to manage a complex and evolving industry. Ultimately this is a positive step, as it is crucial to enticing traditional institutions to explore the adoption of blockchain with confidence.”

 

E-Crypto News:

How resilient is the crypto industry to black swan events?

“The crypto industry has proven resilient in bouncing back from market setbacks in the past. Although recent Black Swan events have sent shockwaves through the industry, these have been followed by strong recoveries – like we are seeing now. There is growing institutional and mainstream adoption as well as a conveyor belt of novel new use cases constantly coming to market. The crypto ecosystem’s underlying ethos of decentralization is sound, and policy makers and institutions are beginning to accept this reality.”

E-Crypto News:

What is your take on Javier Milei clinching the presidency in Argentina?

“Bitcoin advocate Javier Milei securing the presidency in Argentina is certainly an interesting development in South America’s brief but storied history with crypto. Milei is a firm supporter of Bitcoin, and may consider embracing digital assets more broadly to combat the country’s most challenging economic issues. We may see him pursue more favorable regulations and policies around cryptocurrencies once he is in office, and his bitcoin advocacy might lead to greater acceptance and integration of digital assets within the country’s financial system. Milei has a deep understanding of Argentina’s historic difficulties with economic volatility and currency devaluation, so in his mind, Bitcoin might play a key role in addressing some of these pertinent issues. One of his visions I’m particularly excited about is the idea of dismantling the Central Bank concept and allowing for a more pure free market approach. If implemented properly, this would be a major paradigm shift, potentially encouraging other countries to embrace a hybrid approach to monetary policy, with the integration of digital currency.”

 

E-Crypto News:

How damaging is the prevalence of crypto hacks for the industry?

“It’s certainly a cause for concern, not only in terms of the financial impact on affected parties, but in terms of eroding trust and confidence among current and prospective ecosystem participants. If users aren’t 100% assured that their assets are safe and secure, they will think twice about engaging in the Web3 arena. Major hacks are blemishes on the industry’s record, and have a profound impact on public sentiment. We in the industry should also be accountable in making sure we call out those projects engaging in malicious behavior, highlighting these issues as early as possible to avoid any more tarnishing of the industry.”

E-Crypto News:

How can Web3 projects demonstrate a commitment to security?

“It’s incumbent on Web3 projects to set the highest standards of security, for the good of the industry. Steps that can be taken include implementing multi-factor authentication, cold storage for digital assets, and regular security audits. It’s also vital for projects to have well functioning customer support teams to address queries and concerns in real time, this is particularly important for new users who are engaging with Web3 services for the first time.”

E-Crypto News:

What’s next for Gateway.fm?

“Having recently launched Presto, we have big plans to build on this momentum in 2024. As a robust ZK-based Web3 platform as-a-service, Presto represents a significant milestone in our mission to alleviate the complexity of managing blockchain systems – enabling developers and Web2 companies to engage with the technology seamlessly. Looking ahead, we’ll be ramping up product development and exploring partnership synergies with industry leaders who share our vision for decentralization. We will be making some announcements soon around many exciting projects and new use cases which are being developed with this platform. We have already received very positive early feedback, and there are a lot of early indications from the market that we are in a critical new stage of Web3 development. Honestly, I’ve never been more bullish on the industry.”


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Walter Swift

Walter Swift

Walter Swift is an adept crypto writer, known for his deep insights into the decentralized world. His pieces artfully break down complex blockchain topics, making them accessible to a broad audience. With a passion for emerging technologies, Walter's articles are a beacon for crypto enthusiasts and novices alike.

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