Rostyslav Bortman is Head of Blockchain Growth at IdeaSoft and founding father of ETHKyiv Group. He is likely one of the predominant faces of the worldwide and Ukrainian Web3 improvement and a driving drive behind crypto neighborhood improvement.
He has developed many excellent Web3 merchandise, whereas this yr’s Ethereum hackathon in Kyiv organised by him and his group was attended by Vitalik Buterin – his eager pal and a devoted colleague.
We talked about the way forward for the Ethereum market and ecosystem, and the Web3 sector in Ukraine and its specifics.
How did you end up in blockchain improvement? What attracted you to the Web3 trade?
Sensible contracts. In 2016, my professor on the college got here to me and supplied me a subject for my thesis – ‘Sensible contracts on Ethereum’ or one thing like that. I agreed. Since then, I couldn’t tear myself away from Solidity and Ethereum – I used to be utterly taken by the ideas of decentralisation and the absence of intermediaries.
On the Incrypted Convention 2024, Vitalik Buterin famous that Ukrainian Web3 builders have made important progress in creating modern options. What do you concentrate on this and the way do you see the contribution of Ukrainian builders to the worldwide improvement of blockchain?
At starters, there are alternative ways to contribute: to construct a profound product with a superb basis that may go mainstream and have a direct influence on the event of Web3, or to be a developer in a group that builds the way forward for Web3, or to contribute to open-source communities.
In fact, among the many cool groups in Web3, you may typically discover Ukrainian builders who construct cool issues in a group, and that’s very cool. Nevertheless, we don’t see a large variety of Ukrainians growing merchandise that go mainstream. We nonetheless must work on this.
I believe that the Ukrainian Web3 neighborhood is simply beginning to develop. Because the organiser of the biggest hackathon in Ukraine, I can say that we nonetheless have a variety of work to do on the tradition of constructing startups. Persons are centered on incomes cash and don’t wish to take dangers, categorical no want to construct one thing of their very own, as a result of outsourcing supplies stability.
My group and I intend to alter this – to construct a tradition of hackathons within the nation, as a result of I’m satisfied that this is likely one of the best methods to point out builders that constructing your personal product is superior. It’ll take time for individuals’s mindsets to alter, and for Ukrainians to start out influencing world blockchain improvement with their merchandise.
Do you assume Ukrainian startups can compete internationally within the discipline of Web3 and blockchain applied sciences? And in that case, how?
In fact they’ll. The Web3 market is world, and it doesn’t matter wherein nation it’s constructed. Initially, the product use case, UX, is necessary. Anybody who makes a cool product that individuals want can compete on this market.
‘Construct one thing individuals want. Construct a useless easy expertise,’ – Jesse Pollak.
Over the previous few years, a variety of Web3 tasks with Ukrainian roots have emerged. Are there any Ukrainian blockchain improvement tasks you may point out?
International Ledger. I additionally like Trustee Plus – it’s easy, handy, and solves the issue of client funds. HackenProof.
Additionally it is necessary to notice that the idea of success is completely different for many individuals, so I’m solely talking in regards to the ones I personally like.
You’re the founding father of the Kyiv Ethereum Group. What are the most important achievements of this neighborhood? How do you assume it has influenced the event of the blockchain ecosystem in Ukraine?
We now have been organising meetups since 2021. We now have already held about 25 completely different occasions. We now have collaborated with BNB Chain, Scroll, Diia schooling, and plenty of others. You’ll be able to see all our occasions right here – kyivethereum.com.
Not too long ago, we organised ETHKyiv, which was attended by Vitalik (Buterin) and three different individuals of the Ethereum Basis (and plenty of different company of assorted cool Web3 protocols). We managed to get such giants as EtherFi, Scroll, Intmax, Zero1, Circles, The Graph Builders Dao, and others as sponsors. Additionally, 123 hackers visited the situation offline and took half within the hackathon.
We raised $8000 for the FPV-drones for the Ukraine Armed Forces (UAF). And all this regardless of the conflict.
In your opinion, what function does the Kyiv Ethereum Group play within the improvement of the Ethereum ecosystem?
I consider that the technique of growing native communities around the globe is the correct one, as a result of solely native leaders, not the worldwide Basis, can have the best influence on individuals from particular international locations.
The function and affect relies upon not on me, however on the neighborhood. I alone can do little, however we’re doing every part in our energy to create beneficial situations for the event of the Ethereum neighborhood in Ukraine – collect cool founders, visionaries, and leaders.
You’re one of many founders of ETH: Kyiv Hackathon. In your opinion, how do hackathons and developer conferences contribute to the event of the Ethereum ecosystem? What are the primary challenges you may establish in organising a hackathon?
Let’s begin with the unhappy stuff. I’m the one and solely organiser of ETHKyiv 2024 (with my Kyiv Ethereum group, after all). Sergiy Sevidov was formally a co-organiser, however, in truth, he didn’t fulfil his duties and didn’t take any half within the organisation of this occasion. Due to this fact, calling him one of many organisers could be unfair to the group that was concerned within the organisation.
Sadly, it turned out that he controls the ethkyiv.org area and social media, wherein our group made completely all publications associated to the ETHKyiv hackathon. He refuses to surrender the social media and the area (though he has nothing to do with Ethereum in Ukraine and did nothing to develop it, his solely purpose is to make use of the ETHKyiv identify), as a result of he desires to carry a few of his personal occasions there and declare ETHKyiv 2024 as his personal to promote it to sponsors and companions. My group and I’ve already turned this web page and created new social media.
Now, to reply your query:
I consider that hackathons have a direct influence on the event of Ethereum in Ukraine, as a result of I believe that builders are the primary asset of the ecosystem. That’s the reason our predominant mission is to onboard Ukrainian builders to Ethereum. As for conferences, I can’t reply as a result of my predominant focus is on builders.
There was an unimaginable quantity of difficulties, however this might be a narrative for an hour. There have been a variety of issues with contractors and the quantity of coordination, communication, administration of all the main points, similar to on Taikai community and elsewhere, involvement of sponsors, hackers, judges and audio system, and media publications. This story deserves a separate publication.
Over the previous few years, a variety of blockchains and protocols have emerged within the Web3 area, similar to Base, Whitechain, or Close to. In your opinion, what influence does this have on the Web3 market and blockchain improvement?
Base has an excellent influence on Web3 as a result of they’re growing a tradition of builders round them and selling the message that constructing is cool. They’re centered on growing client apps, which is the correct factor to do, for my part, and I believe that’s Base is the place we’re going to see a variety of cool improvements in Web3.
How do you see the way forward for such a diversified Web3 market? Would an oligopoly of some massive networks be higher?
I’m an ETH Maxi, so it’s arduous for me to consider that. There are such a lot of new and attention-grabbing issues taking place in Ethereum day-after-day that I merely don’t have sufficient time to comply with different ecosystems.
Nevertheless, I believe that different blockchains are prone to take some market share, however Ethereum will stay the undisputed chief. For me, Ethereum’s ideas are nearer to my coronary heart. That’s why I’m right here, and the general public locally are right here as nicely. And I believe that’s what makes Ethereum the most effective.
With the deeper integration of blockchain applied sciences into finance, do you assume DeFi will have the ability to displace conventional, centralised banking? Is the DeFi infrastructure appropriate for large-scale monetary transactions?
Presently, client funds are one of many largest points which can be a precedence within the trade, together with, for instance, Base (I wrote about it right here). I don’t assume that DeFi will change centralised banking within the coming years, however I believe that step-by-step, it would change into extra handy and common, the variety of customers will develop, and strategically, sooner or later, we could have some hybrid programs with the flexibility to utterly abandon conventional centralised banking if needed.
With the launch of Ether ETFs and rumours of Solana exchange-traded funds, is it doable to deliver tokens of different blockchains to the inventory markets? Does the blockchain trade want such a bent?
I don’t assume we are going to see a Solana ETF within the close to future. There are goal causes for this.
Firstly, the SEC (US Securities and Change Fee – creator’s observe) considers Solana a safety. Secondly, the funds personal 12% of SOL (or extra, I don’t know the precise determine, however it’s a important drawback). Thirdly, if we discuss in regards to the traditional path to ETFs (as was the case with BTC and ETH), Solana nonetheless wants 2-3 years to go all the way in which.
As for different property, I believe that the cryptocurrency market has to change into far more mature first, as a result of now all these memecoins and property with no that means and billions of {dollars} in capitalisation look very unusual.
NFTs have seen higher days by way of recognition. Do you see any potential on this know-how? How can NFTs be used to unlock their full technological potential?
NFTs aren’t going anyplace, however not the NFTs that everybody has heard about in 2021. NFT is a token commonplace that will likely be and is already being actively utilized in RWA (Actual World Belongings). They may tokenise every part they’ll with NFT. From actual property to objects in digital worlds and video games. I don’t know what is going to occur to NFT monkeys.
In your opinion, which sectors of Web3 improvement can change into developments within the close to future?
Account abstraction, SocialFi, decentralised messengers, client apps (together with fee apps), cross-chain interoperability, GameFi.
You used to show your personal course at Sigma…
