Blockchain as a technology goes far beyond cryptocurrency application. Interview with Maxim Gorbachev, Managing Partner at RMI Partners

#WBSMoscow     23 January 2018

As the blockchain revolution gains momentum around the world, Trescon had the opportunity to interview Maxim Gorbachev, a Managing Partner at RMI Partners, on the evolving nature of blockchain. RMI Partners is a venture capital company established in 2012, with a strategic focus on investments supporting the development of innovative biopharmaceutical products and medical technologies.

Germany became the last addition to the nations who have legalized Bitcoin. Do you think Russian government would consider legalizing Bitcoin? If so, how could it benefit the economy? 

I believe that Russian Government reluctantly will legalize cryptocurrencies in order to avoid hiding of assets (for instance in the case of personal bankruptcy) or tax evasion. In the longer term, the economy would benefit from competition between fiat money and their crypto analogs. it would stimulate Central bank and overall banking and financial system to operate more effectively 

What are the other top industry sectors that blockchain will have an impact on? Are there opportunities for blockchain technologies to reduce cost or improve customer service for these industries? 

My personal choice is Healthcare. Despite so many innovations we are still using sometimes XIX century technologies for patient data management or health services. Blockchain could empower people to be in charge of their medical records and ultimately incentivize them to live healthier and better life. Blockchain technologies could also be useful for pharma supply chain, reduce costs and improve access to medicines. 

What can we expect from blockchain in 2018? Should we take blockchain into account in our 3-5 year technology plans to avoid regret spend? 

As a venture investor, I expect to see emergence many interesting blockchain startups and an increase of industry partnerships. 

Blockchain is the end of physical money as we all know it, but how do you discover a way of implementing blockchain for an organization? Can all businesses including SMEs afford it? 

Blockchain as a technology goes far beyond cryptocurrency application. The success of any particular cryptocurrency still depends on people mutual trust in that monetary instrument to be widely accepted. However, the use of blockchain technologies for personal medical records or real estate registry could work even without end-users understanding or trust in that technologies. 

Bitcoin is the top performing currency climbing to $1243 from $0.0001 in 2009. But do you agree this is below par than what it actually should be? Are we using cryptocurrency to its ultimate potential? 

Skyrocketing performance of cryptocurrency helps to attract people attention and increase user base but in order to realize full potential value of cryptocurrency should be more stable 

What are your expectations from the World Blockchain Summit and what possible key takeaways are you looking at? 

I expect the World Blockchain Summit to be a top event where experts and practitioners share views, ideas, and experiences with each other 

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