David Gold CEO Dapix Inc
As part of our efforts to explore the general mindset of the Crypto Space, E-Crypto News reached out to David Gold who is the development lead at the Foundation for Interwallet Operability (FIO) and also the founder and CEO of Dapix Inc. here are what he had to say:
With so many new Blockchain projects coming up, how if the FIO protocol going to adapt?
“The great thing about the FIO Protocol, is that we really don’t need to adapt. In respect to other decentralized protocol projects, FIO doesn’t need to “adapt” as it will automatically work with any new protocol the same way it does with existing ones. It is able to do that because FIO integrates with wallets but does not integrate with the underlying blockchains. Technically speaking, those blockchains don’t even know that the FIO usability protocol exists”.
What is the fundamental difference between multi-chain Oracle-based arrangements such as Cardano and the FIO protocol?
“If you mean inter-chain operability, the FIO Protocol is *not* an interchain operability protocol. In fact, the FIO Protocol does not directly interact with any other blockchain. Rather, it integrates with wallets, exchanges and crypto payment processing platforms providing a layer of workflow, messaging and communication to enable greatly enhanced workflows and user experience between disparate blockchain products”.
Is a single-name identification wallet address secure? Won’t that kind of arrangement be prone to attacks by malicious persons?
“Wallet addresses need to be built on a decentralized blockchain to remain secure. The FIO Protocol is a delegated proof of stake blockchain. The only possible attack would be a blockchain take over attack as there is no centralized element of the FIO Protocol. And even in the extremely unlikely event of a blockchain takeover attack, the attacker wouldn’t be able to change critical historical information on the FIO Protocol because it is encrypted with the users private key”.
Apart from single-wallet access which is user-friendly, what else can the FIO protocol do?
“The FIO Protocol is an industry-standard for communication between wallets. It enables the elimination of the need for users to have to see or know what is a public address, enables decentralized requests for payments to be sent from one wallet to another and enables cross-chain metadata on all transactions (e.g., notes, order carts, invoices, etc.). And that is just the beginning as the robust roadmap includes things like decentralized multi-signature routing, recurring payments and more”.
What is Dapix’s role in the FIO project?
“Dapix is the venture-backed company building the initial version of the FIO Protocol software that will lead to mainnet launch and open-sourcing of the code”.
Are we looking at a shift from tokens bouncing off D’apps to single-focused blockchains?
“I think we will have a mix of both general purpose/utility blockchains and highly specialized ones that focus on being very good at a specific use case or need”.
Where do you the blockchain community is going to be in say five years?
“The “blockchain community” won’t be thought of that way in five years as adoption will be much greater in the same way as we don’t think of an “internet community” today”.
What is going to be the singularly biggest hurdle that Blockchain technology is facing right now?
“Usability. Blockchain must be easy and safe for the every day person to use and it is not today”.
Will we ever see the mass adoption of blockchain technology?
“Yes… anyone in this space that doesn’t believe that should move on to a different sector”.
If you had three wishes as regards the blockchain industry and a genie that could make those wishes come true what would they be?
That regulators, and especially U.S. regulators, would treat blockchain like they did the Internet during its nascent period and create safe harbours and guide rails that allow innovation to flourish versus inhibiting it.
That Amazon decided to start accepting crypto payments.
The FIO Protocol is integrated into every wallet, exchange and crypto payment processing platform making blockchain easy to use. The good news is we don’t need a genie to make that happen — but a genie might speed it up!