An interview series spotlighting global tech influencers, disruptors, visionaries, and of course, innovators.
In 2016 Max Kordek and Oliver Beddows founded Lisk, an open-source blockchain application platform, which raised over 14,000 BTC in its ICO.
With a goal of making blockchain technology accessible for everyone, Lisk’s software development kit (SDK) allows developers to build blockchain applications in JavaScript, the world’s most widely used programming language. An industry leader in blockchain interoperability, Lisk allows for side chain deployment onto the Lisk blockchain, thereby enabling blockchain application scalability while still connecting to the wider Lisk ecosystem. Headquartered in Zug, Switzerland, the Lisk network is operated using a highly efficient Delegated Proof of Stake (DPoS) consensus algorithm, secured by democratically elected delegates, maintains a significantly lower energy consumption than Proof of Work networks such as Bitcoin.
This past March Lisk joined the Cryptocurrency Open Patent Alliance (COPA) as its first blockchain developer-focused member to help bolster innovation within the blockchain community through the promotion of open patent collaboration. Launched in September 2020 by the global financial services company Square, Inc., the COPA consortium requires members to make their patents freely available for all to use-- except in extenuating circumstances. In combining their cryptocurrency-related patents, COPA members are creating a patent library designed to directly combat offensive use of patents which stifle innovation and industry growth.
In addition to his roles as Co-Founder and Lisk President, Kordek also cofounded Lightcurve, a Blockchain product development studio and consultancy firm with a special focus on coding, marketing and support, and serves as its director. I caught up with the globally recognized crypto entrepreneur via email to gain more insight about his views on COPA, blockchain innovation, goals and core values, and what sets Lisk apart from its competitors. Our interview follows.
EKMH: What led Lisk to joining Cryptocurrency Open Patent Alliance (COPA)?
Max Kordek: The Lisk project is non-profit with a registered Foundation in Switzerland and diverse board members out of business, technology, and legal sectors. Further, it has conducted an ICO in 2016 at which donors contributed their BTC which results in total funding of nearly 200,000,000 USD today. That means no venture capitalist has ever funded the Lisk project and we keep our neutrality and independence. This is a major strength that Lisk has, relative to other projects.
Keeping that in mind, innovation and advancement of the wider blockchain industry is the primary focal point of our everyday activity. Lisk is a non-profit, neutral and independent form. As opposed to conventional blockchain projects, which register hundreds of patents for blockchain technology each year for the benefit of themselves and their shareholders, Lisk endeavors to support innovation. You will always see Lisk aligned with the spirit of open-source, which we live and love here.
That is why we have joined the Cryptocurrency Open Patent Alliance (COPA), next to other members like Coinbase, Kraken, Blockstream, and Square. We want to shield ourselves and other blockchain industry partners from patent trolls and patent aggressors, and join in on the tremendous efforts being made by the aforementioned industry leaders. Although we had considered issuing a patent ahead of our Lisk interoperability solution, being unveiled at Lisk.js 2021 on May 21st, joining COPA is far more conducive to our goals and core values.
EKMH: In what specific ways will Lisk add innovation value and promote open patent collaboration within COPA? Where do you see opportunities for innovation and profit?
Max Kordek: With no plans to register patents for technological innovation, the Lisk Foundation will make our technology freely available for everyone to dabble with, progress, and use. We are helping to spread the cause of open patent collaboration throughout the industry, not just within COPA.
I have a vision of Lisk being an inspiration for other cryptocurrency projects to join the effort. The conglomeration of several leading cryptocurrency projects could set a precedent, and create stronger synergies that result in open standards for the wider blockchain industry. One example could be blockchain interoperability that will allow for the mass adoption of blockchain technology. We are hoping that other projects will join and support our efforts to bring about an open standard for blockchain interoperability by deploying our solution on their respective blockchain networks.
EKMH: What issues continue to hinder blockchain development and mass adoption?
Max Kordek: Accessibility is still a big topic on all fronts. Despite ten years of progress in the blockchain industry, the process for developers and users has, unfortunately, yet to be simplified enough for easy onboarding. At Lisk, we are focusing on making blockchain accessible primarily for developers, as they are the creative force that brings innovation and use-cases. As such, we have developed the Lisk SDK, which enables JavaScript developers to build their own blockchain within minutes.
Of course, interoperability between different cryptocurrencies, blockchains, and the various networks available is another major concern. Our soon-to-be-published interoperability solution should clarify an open standard for any blockchain to achieve complete interoperability with other blockchains.
EKMH: How would you explain Lisk and its Delegated Proof of Stake (DPoS) consensus algorithm to your grandfather?
Max Kordek: In Lisk’s delegated proof of stake, you don’t have a centralized authority making all of the decisions. Instead, Lisk’s Delegated Proof of Stake is more comparable to democracies, in that any LSK token holder can vote for delegates. Over one hundred of the most voted delegates will comprise the decentralized Lisk network that will establish consensus and create new blocks on the Lisk blockchain.
Unlike democracies, however, the decision-making process is extremely lean and efficient. There are only a few predefined decisions to be made and everything is written in code, so execution remains unimpeded and ultra-fast, allowing the Lisk network to scale up and process a transaction workload far superior to any Proof of Work (PoW) based blockchain.
EKMH: What is the future of decentralization?
Max Kordek: Decentralization will permeate every facet of society. I foresee the rapid construction of interoperable, decentralized blockchain networks due to secure development tools. We will see innovation and user adoption at a rate exceeding anything we have ever witnessed before.
EKMH: Given the pandemic, the employment market continues to be in flux. Please share some interviewing advice for those entering the blockchain sector and for those remaining in the sector.
Max Kordek: My belief is that the blockchain industry is the safest, and probably most lucrative industry that anyone can access right now. I’m not a financial advisor by any means, although I would say don’t be afraid to join the bandwagon: blockchain is here to stay and it will just grow bigger! An entirely new industry and the asset class are being created, similar to how the IT industry or real estate market was created. What’s coming is a utility and profit explosion, and this will require as many hands on deck as possible.
EKMH: Your first and/or last bitcoin purchase...
Max Kordek: My first BTC purchase went for about $30 USD, however, I stopped purchasing more soon after. I was very poor as a student and didn’t have funds available to invest. However, I always worked hard for multiple crypto communities and got sponsored donations in crypto. I built up my crypto portfolio using this method, which has grown quite substantially over the last 9 years, thanks to the founder rewards of the Lisk project and the great performance of the LSK token.
EKMH: And finally, which books, films, and/or podcasts top your recommended list?
Max Kordek: Anything from Naval Ravikant and Balaji Srinivasan. I love these authors and have used their materials to guide my own personal journey.
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*Disclaimer: The views and opinions expressed in this series are those of the speakers and do not necessarily reflect the views or positions of any entities they represent.