FarmaTrust CEO: ‘Nobody Wants to be the Yahoo that Didn’t Buy Google’ [Interview]

In particular, as privacy and traceability become more and more critical, industries that require trustless systems are a massively growing market segment where blockchain may make headway. One such industry is the pharmaceutical field, where the old days of written prescriptions are quickly being replaced by more advanced methodologies. BeInCrypto sat down with Raja Shariff, CEO at FarmaTrust, to discuss blockchain technology, the potential for growth, and where he sees the industry going in the coming years.

In terms of blockchain technology from a business perspective, where do you see the industry going in the coming years?

We are likely to see an increase in mergers and acquisitions of blockchain companies. Now that the mania phase of initial coin offerings (ICOs) is pretty much over, the survivors are likely to be the next Apples, Googles, and Amazons of the sector. Nobody wants to be the Yahoo that didn’t buy Google for $1m or the Blockbuster that thought Netflix would not take off. As you know, following the dot-com boom and bust, there were many opportunities for larger players to take over younger, more nimble startups — but they did not take this opportunity. Ultimately the smaller companies which were not acquired or refused to sell ended up taking market dominance. I believe that we are in that phase for the blockchain world.

Do you see greater institutional investment and enterprise players entering the market as it grows?

The level of institutional investment into blockchain companies is likely to see a significant increase. Although the first wave of investment for blockchain was from visionaries and crowdfunding, there seems to clear mainstream acceptance of blockchain and its benefits by mainstream investors. With the blockchain concept gaining more acceptance and the confusion with cryptocurrencies becoming limited, we will see more established funding platforms becoming involved in the blockchain industry.

In terms of changes in blockchain tokens as investments, do you see a potentially changing future from what we currently know?

Experiments in stable coins, security tokens, and regulator-approved sandboxes are likely to bear fruits in the coming year. With the increasingly risky situation in the traditional markets, investors might look for innovative high-growth companies to get greater returns. Stablecoins try to reduce the market fluctuations of the particular currencies. Security tokens act as ‘virtual shares.’ These developments are likely to gain wider acceptance — particularly investors who are looking at more traditional types of investments.

In terms of potential growth areas, what industries do you see becoming more blockchain focused?

Industries in which trust is required in a trustless environment are perfect for blockchain. Naturally, supply chain industries are best suited for this. Other areas include healthcare, various banking services, and electoral registries.

How do you see governmental regulation affecting the marketplace over the coming year?

Regulation is going to take some time in the market. Naturally, the first area to tackle is fundraising — particularly ICOs. The second area is likely to be around standards and interoperability. Think Raja is right about the state of blockchain and where it will be going in the future? Let us know in the comments below!