Up-close & Personal: Richard Muirhead On Blockchain & Other Emerging Technologies
Karan Ghosh in Conversation With Richard Muirhead
Karan Ghosh, Editor-in-chief of BTC Wires was in conversation with the co-founder of Fabric Ventures and the Venture Partner in OpenOcean, Richard Muirhead. In this interview with BTC Wires, Muirhead told how from an amateur, he became an expert of the Blockchain and explained to us about various terms related to the Blockchain and Cryptocurrency ecosystem.
Now you must be wondering, where you know Richard Muirhead from. He is a member of the Board of Directors in Bitrise, HeavenHR, Outlayer, and the Co-founder of Fabric Ventures. He is also the Co-founder and the Chairman of the Firestartr and the Senior Industrial Advisor of the EQT Partners.
He has been in this ecosystem because one of his friends introduced him to Bitcoin in 2013 and has stuck to it as he finds the environment easy and can solve complex problems easily. After gaining more knowledge in this field, Muirhead has been actively investing in cryptocurrencies eversince.
Upon asking him his views on emerging technologies like AI and Blockchain, and how can they bring about a change when aligned together. He said:
“I think it’s important that there are people with long-term visions and the focus is on the products and the problems that it solves. The way in which decentralisation can handle data, it can help provide more and better data at a scale where it is better for both, individuals and organisations.”
Adding, on how different people take care of the data under their command, he said:
“I think if you have to leave individuals to take care of the privacy, basically, nothing is gonna happen. But, if you leave it to organisations, they’ll act as the custodians of the data. What I think is that you can use decentralised organisations in order to give the power to segregate and distribute its stakeholders.”
The next question put up was about Token Data, how exactly is it planned, and what is its future? To which he answered:
“Token Data tries to associate more business information with token sale data and also specifically trying to look on not to release data publically but, what happens before those projects are made public.”
He talked about Bitcoin and how it can be termed as a God Coin. He talked about the price of the cryptocurrencies and how they have seen a slump since last December. He referred to the decline in the value to a bubble.
When asked about the traditional venture capitalists wanting to invest in cryptocurrencies versus specialised funds focussing purely on crypto, and how he differentiates between the two. He said:
“This is the beginning of a next phase. What people might call it is a decentralised way of competing and in order for it to effectively harness the multitudinal devices that are appearing, and the algorithms that are appearing to deliver services to the humans.”
The most important thing to understand in the Blockchain ecosystem is that the value creation depends upon what should be tokenised. It is the most efficient technologies in areas with large databases.