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The Rise of Digital Finance” Financial transformation with Coinweb founders

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Knut Arne Vinger & Toby Gilbert Coinweb

Knut Arne Vinger and Toby Gilbert are using Coinweb to find a solution that will allow transactions to scale across chains

First of all, tell us about you, your career, how you founded Coinweb?

Toby Gilbert: I have been involved in the Telecom business for the past 15 years. And I work very closely with my now partner Knut Vinger. We got on a holiday together when he proposed that I get involved in the project that he had started in July 2017 with the 3 others. Not only did he get me excited about the project, but also about the space and its future, and I became obsessed with it!

Knut Arne Vinger: When I started with Coinweb, I saw an opportunity to take part in improving on some very important issues that are currently limiting the adoption of blockchain. This is interesting for me, as I think that this technology has the potential to make a large positive impact.

How does Coinweb innovate? 

Toby Gilbert: Coinweb was far too early for its time. We were looking for a solution that would allow transactions to scale across chains. And this is something that a number of other parties identified, but the market was not open up to the idea. (They were just focused on buying Alt-token) So we see the problem in infrastructure projects, and we are going to be delivering functionality and usability for the medium to long term.

Who are your competitors? And how do you plan to stay in the game?

Toby Gilbert: There are not that many people in the game. We all try to solve the same problem just in different ways. We wouldn’t say which one is better than the other. This isn’t about us being No.1; this is about us being in the top 10 projects that solve effectively.

But ultimately, what we believe in is what our focus is. Other projects are very much more focused on the crypto community, but our real focus is a large corporate partnership and bringing accessibility to the mainstream. We have a very particular view of who our customers are going to be. Mainly we will focus on real-life established companies who want to get on to the blockchain (several blockchains, not just one!) and help them build on our platform. That approach is going to be different to what we see with our competitors.

How the coronavirus pandemic affects your business, and how are you coping?

Toby Gilbert: In the Covid-19 pandemic, we really see the fintech innovation. We see the increased online start-ups and expansion of digital payments. So No, we don’t have difficulties. In fact, the first project we launched on Coinweb, Blockfort, has done essentially well because of Covid. Online gaming has increased exponentially, so we have benefited there.

How do you think has the coronavirus outbreak affected the use of blockchain and digital currency?

Knut Arne Vinger: For the Blockchain community, the Covid outbreak has put limitations on activities such as Blockchain conferences and meetups. This might affect the way the exchange of ideas and connections is happening within the space. 

Another aspect of this is that Covid 19 outbreak has made weaknesses in existing processes within commerce, governments and other organizations more visible. This increased visibility is likely to result in more focus on blockchain-based solutions that can automate and secure information flow within different sectors.

A third effect that Covid 19 might have had is that more people probably have become active users of Blockchain technology. Most blockchain-based activities such as coding or trading are indoor activities, so one might assume that more time has been spent on this with Covid than it would have otherwise.

Your final thoughts?

Toby Gilbert: Now, as more people have got involved in blockchain space and Different projects begin to use different chains, A lot of the problems that Knut had forethought in 2017 has come to bear. There are a lot of Pros and Cons in this covid-19 time. Covid has completely transformed our day-to-day activities and business. Everything is connected online, and blockchain will be the key to digital finance.

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