"We Stand on the Cusp of a New Era": Paul Lalovich on Blockchain Technology

Lalovich shares his exciting journey from the business world to blockchain entrepreneurship.

Serbian-born tech entrepreneur Paul Lalovich went from embracing blockchain as a revolutionary technology to leveraging its vast potential in entrepreneurship. He co-founded Agile Dynamics, an international management consulting firm and the proud sponsor of a highly-anticipated annual blockchain conference, Web 3 Delight.

 I recently sat down with him to discuss how Web3 Delight is promoting blockchain education across the world. In this interview, he also shares his vision for a digital world where blockchain is intertwined with technology sovereignty. Read on!

1. Mr. Paul, can you briefly tell us about yourself?

I am an economist by training and a high-tech entrepreneur by background. Besides, I am a certified business architect (CBA) with a track record of leading and supporting business design and transformations across a variety of industries.

I am currently a partner at Agile Dynamics, where , as a co-founder of Web3 Delight, I lead the organizational effectiveness and strategy execution practice. One of my key achievements is co-founding SyntheticEquity to give ecosystem stakeholders access to the growing opportunity presented by Distributed Ledger Technology (DLT) and crypto assets through tokenization of ideas and work.

2. I attended Web3 Delight Lagos at the Glover Memorial Hall last year. The turnout was massive, and I went home convinced that it was worth every minute spent. Can you tell us about Web 3 Delight?

Web3 Delight is a series of events stretching from Nigeria, the UAE, Saudi Arabia, Indonesia, Vietnam to the Philippines. It is basically oriented towards boosting cooperation and interconnectivity between growth markets through blockchain technology. And it is also focused on driving the adoption of Web3.

The key message that has been resonating across the pathway of the Web3 Delight is 'Build Your Own!'. The theme of the kickoff event in Lagos, Nigeria, was 'Wake up the lion' and we believe in technology sovereignty.

3. In an interview with Gulf Business, you presented a vision for a less dependent world where every country can thrive digitally. So what's the key-point about it?

As we stand on the cusp of a new era, the question on everyone's mind is: what does the future hold? With the advent of Web3, artificial intelligence and other emerging technologies, it's clear that the world as we know it today is set to undergo significant transformation. As a result, emerging technologies are a significant opportunity for countries in the growth markets to enter the game and compete.

Unarguably, big tech has an influence over the policies that govern how they do business. In other words, they use their power and influence to set the business standards and rules however it suits their interests. Consequently, technology giants often venture into other industries that were initially dominated by state and local organizations. Often it is the case that governmental and local private organizations cannot compete with large-scale technological companies due to the sheer volume of their resources.

This is why we stand for technology sovereignty , which is a country's ability to develop and implement technology crucial for its technological independence and welfare. It also includes alternative ways of acquiring technology, such as provisioning it from other nations without causing dependence or violating the country's freedom. Adequate infrastructure and the ability to innovate create a favorable environment in which technology sovereignty may lead to economic sovereignty.

4. How does your vision for a new world order driven by blockchain technology differ from a technological singularity?

The answer is straightforward: choice! People should be able to move freely between different technologies, platforms and networks. We want to ensure people can choose which technologies they want to use and not be stuck with one because it's the only available option. Blockchain can be the future, but it's up to us to forge the frontier for the realisation of its full potential.

5. As someone who believes in the potential of emerging technologies to transform the world, how much change has blockchain technology, for example, brought about?

The future of blockchain, Web3 and the metaverse is uncertain as we live in truly accelerated times. The blockchain ecosystem has seen a lot of ups and downs over the last few years and it's hard to predict what will happen next.

Blockchain technology is still in its infancy and there are many challenges ahead for those who want to build new businesses on top of it. However, it is likely that these emerging technologies will have a significant impact on various industries. For example, blockchain technology has the potential to increase transparency and security in various sectors such as finance and supply chain management. Web3 and the metaverse can potentially revolutionize how we interact and conduct business online. The key to adoption is education.

6. You mentioned that local businesses would no longer have to sacrifice their ability to compete globally. So what leverage is there for them to thrive and stay in business?

Blockchain technology can help local businesses create more transparent, secure, and efficient operations. By leveraging these advantages, local businesses can differentiate themselves from big tech competitors and gain a competitive edge in the market. You can have the best product in the world, but if no one knows about it, it's useless.

The network effect is what propels small local players into global juggernauts. When a product or service comes together under one tech stack umbrella, it displays positive network effects when more usage by any user increases the product's value for other users (and sometimes all users).

7. With technology sovereignty, how can nations cooperate within the digital ecosystem?

Technology Sovereignty is a complex process that requires research, investment, and infrastructure. The most critical aspect of Technology Sovereignty is ensuring that the local community understands how it can be used in practical terms. This means providing them with information on how they can use this new technology to improve their lives, as well as creating a plan for how they will be able to use these technologies when they are released into the market.

The initial stage in this process is deciding on the essential skills and knowledge required to obtain. This stage is followed by researching the impact of the selected technology on society and the economy, which then leads to providing the technology to the local community.

8. What can be done to solve the image problem of crypto industry?

Crypto has a negative image in the public eye, but it's not all doom and gloom.

One thing that comes to mind is the Reintegrative Theory of Punishment, which focuses on rehabilitating and reintegrating offenders back into society. It is based on the belief that punishment should not be solely focused on retribution but rather on addressing the underlying issues that led to the offense and helping the offender reintegrate into society. To apply this theory to crypto ecosystem, it is important to consider the reasons why crypto has a negative image in the public eye.Some of these reasons may include concerns about security, volatility, and its association with illegal activities.

To salvage what is left of its shattered image,we can start by educating people about how to use crypto safely while protecting their privacy—theirs is also crucial! crypto isn't just for criminals; it's also for law-abiding citizens who want to protect themselves against identity theft or credit card fraud. We can also work together with regulators to ensure that crypto stays safe for everyone—and doesn't become too regulated that no one wants to use.

9. Any parting word?

Yeah, be a builder and not a consumer! WAGMI!