Q&A with Glitter Finance CEO David Dobrovitsky - Part 2

Nov 19, 2022

Q&A with Glitter Finance CEO David Dobrovitsky - Part 2 image

Today we continue our conversation with Glitter Finance CEO, David Dobrovitsky.

What are the top strategies that blockchain companies should consider to have a stronger competitive edge? The only thing that really matters is that normal people can use your product and that it realistically fills a gap in their daily lives. At the end of the day, if your blockchain product is just as relevant to a soccer mom or an overworked 50-year-old, as it is to a 24-year-old hacker then you know your product is a big deal and it will be incredibly competitive and have a good life.

What are the 3 things that most excite you about the blockchain industry in general? Why? Freedom – because it’s nice to call your own shots with your own money.

Transparency – because it’s nice to know that no secret can be hidden on the blockchain, it makes life so much simpler.

Community – because it’s great to be creating technology that unites people globally.

What are the 3 things that worry you about the blockchain industry? The possibility of blockchain being turned into another tool for control. For example, I would consider programmable money to be in this category.

I get worried when I see untested and overhyped products get supported by the big venture capital players out of a fetish for ‘the new biggest thing, got to get on that train’, without any proof of that statement within the actual product. When such a thing happens, then a highly volatile product gets onto the market, causing eventually a deep harm to both retail investors and the industry as a whole. I would say in general, hype should always be used sparingly. A great product should sell itself, without the ‘hype machine’ doing the heavy lifting, with fake promises and a lack of generally solid research behind the product. All products have to be tested deeply and scientifically before being flung at the retail investor as “the real deal”.

I get very nervous when things in the industry are mislabelled to sell better and then get sold to the retail investor as gospel truth. This is how tragedies happen.

How can we reform and improve the Cryptocurrency Industry today? All products need to undergo much heavier testing before being thrown onto mainnet. This especially goes for products with totally new technologies. The has to be made a sandbox – mainnet area, where new projects can get tested without giving bad exposure to retail investors.

Before something is labeled as ‘stable’, it needs to be proven as stable, and not just by brands backing the product, but by actual deep market performance.

Hype needs to be put under control. Telling retail investors that “this token to the moon” is a bunch of nonsense. All retail investors need to be clearly told that in many ways crypto tokens are as volatile as penny stocks. Unless you are a truly experienced trader, have someone trading for you, or have funds set aside that you can lose without thinking twice about it, then you shouldn’t get into the market.

More emphasis should be put on platforms and what they actually do and less on tokens and pure speculation. Making a quick buck on a hot-ticket token is great, but what’s even better is when the platform that goes with that token disrupts a terrible status quo and creates a positive change in the lives of millions.

Less anonymity and more accountability. Some people in crypto feel that anonymity gives them the right to behave in any way they want, say whatever they want, etc. I think that anyone who attacks anyone else should at least have the guts to do so face-to-face. I would say “like a man”, but I think women are braver than men.

How have you used your success to bring goodness to the world? I have supported several colleagues in Ukraine, to help their families to safety during the terrible conflict. I can’t really share more information.

Can you please give us your favorite "Life Lesson Quote"? ‘I have never let my schooling interfere with my education’ Mark Twain

I only became successful when I stopped letting the system dictate to me how to live or do business. You have to follow your gut and live with passion. Anything less simply isn’t life. Wish they taught this to kids, there would be a lot less suffering in the world.