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Decentralization Will Force Institutions to Conform or Die: Brandon Burgason, CEO of Mobie Labs by@Christopher_Fowler

Decentralization Will Force Institutions to Conform or Die: Brandon Burgason, CEO of Mobie Labs

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Christopher

Journalist

Blockchain has effectively destroyed the industry boundaries of the past and is creating a next-generation, decentralized, network accessible to all.  Stepping into this new era in finance and technology has been complicated by barriers that are keeping blockchain from becoming the next Google. First, it’s all about the old habits – particularly, those that die-hard. The internet has been around now for more than two decades and has successfully seized all spheres of economic and social life. Any transition will be costly and time-consuming. Centralization and data protection have remained central concerns from day one but many users prefer to turn a blind eye to it. 

Another obstacle is the lack of regulatory framework - or, in some cases, its excessive application. Bitcoin is the first association that comes to mind with the word “crypto”. The asset is ill-famed for its dramatic volatility, naturally giving rise to prejudices that keep countless users away from looking beyond and experimenting with other decentralized assets, like governance tokens and NFTs.

Nonetheless, a crucial component of widespread adoption will be a stable ecosystem of decentralized payments. One that is able to effectively accommodate business demands and individual consumer needs. The space is relentlessly taking steps in that direction, one day aiming to turn mainstream blockchain payments into reality.

To take a closer look at the matter, I invited Brandon Burgason, the CEO and Founder of Mobie Labs - a  technology incubator experimenting with mass-scale online decentralized payments. Through our interview, I drilled down into some of the existing roadblocks that are keeping blockchain from realizing its full potential.

1) In the aftermath of the covid-19, the technological landscape underwent dramatic evolution, opening the road to cutting-edge technologies like AI and 5G. How is it going to affect the stance of DeFi and crypto in the near future? 

I think it propels crypto and digital payment adoption as the world moves to a cashless and contactless society. The perception of government overreach will also drive new adopters to the space.

2) What, in your opinion, are the results of the nationwide adoption experiment with the first stable currency in China? Are more countries now likely to follow this trend?

I think the results are as expected. China is known for their control and there is no better way to control things than with programmable money.  I’m confident other countries are right behind China. Sovereign nations want trackable cash so they can maximize tax revenue.

3) From the technological point of view, what are the areas that blockchain developers still need to focus on in order to transform the blockchain into the next internet?

Interoperability and ease of use. Blockchain technology needs to be integrated with existing technology infrastructure and stacks in ways that consumers and businesses can understand.

4) With privacy and digital safety taking a predominant role in the modern data-fuelled reality, the arrival of blockchain is set to transform the aspect of individual ownership, placing current internet monopolies at existential risk. What role will be left to institutions in the world dominated by decentralized technology?

I think the institutions will need to conform or they will die. They will fight as long as they can but at the end of the day, people will choose freedom. I believe decentralized autonomous organizations are the future. 

5) These days, some business owners intentionally shy away from doing their business on the blockchain. Why is it so?

Their lack of knowledge creates fear of the unknown. In reality, blockchain technology is much safer and efficient. Once there is adoption and the user experience is simplified, it will reduce those fears dramatically.

6) With mobile phones being the most employed digital gadget, how is mass blockchain adoption going to leverage that?

I believe that building blockchain-based applications (DAPPs) with mobile integration is key. Creating a hybrid environment is crucial.  The mobile device will essentially be the gateway to ecosystems that support daily life.

7) Being able to bring the multiplicity of online services under one umbrella, what is the current limit of blockchain capabilities?

The only current limitation in my opinion is simple, convenient usability for the normal person. 

8) What are the main trends and prospects blockchain technology is most likely to see in the coming years?

I believe that tokenizing people and real estate will be the trends of the coming years. I believe the biggest trend will be for companies and organizations to start using NFTs for things like identity, title, and voting.

9) As a Founder and CEO of Mobie Labs, how is your company contributing to the broader mission of liberating the world from the monopoly of traditional institutions?

We are building mainstream products and ecosystems with blockchain technology to support the global economy. Systems that are not controlled by a single person or an institution and as a result cannot be easily manipulated.

Blockchain has birthed Decentralized Autonomous Organizations (DAO’s) which can be governed by voting that can’t be manipulated. It is programmable logic that is immutable and can't be challenged. We are building Mobie Network into a DAO that will connect all the Mobie environments into one place. 

10) What are the main reasons why users should adopt Mobie Coin as a trusted payment method already?

Speed, cost, and Interoperability. Our multi-chain assets and connectivity to fiat, including partnerships like Stellar, allows us to take advantage of the benefits of each blockchain with limited downside. Our flexibility means we are not reliant on any one protocol or chain. Our MBX asset on Stellar will be used for micropayments, exchanges and cross-border remittance. Other assets like wMBX on Ethereum will be used for DeFi initiatives and so on. 

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