MSV Podcast

Interview: MultiversX - Beniamin Mincu

April 22, 2023 Morningstar Ventures Season 1 Episode 16
MSV Podcast
Interview: MultiversX - Beniamin Mincu
Show Notes

What's Next For MultiversX

  • Guest: Beniamin Mincu, Founder & CEO of MultiversX
  • Host: Szabolcs Gergely, Podcast & YouTube Host at Morningstar Ventures

Top 3 Key Takeaways:

Beniamin describes MultiversX as a new type of Supercomputer based on a blockchain network. MultiversX enables applications that leverage transparency, cryptographic solid primitives, and deterministic programmable contracts. Builders from MultiversX and projects who build on top of Layer 1 can create products that reimagine financial systems, economic interactions, and money.

1. xPortal is the key to onboarding users on a bigger scale

The first key takeaway is the success of the recently launched xPortal application. Since its launch, Beniamin says he is happy with the progress and features the team has released. He appreciates the community feedback and looks forward to releasing new app versions. The xPortal version prepares the growth engine to show the actual supercomputer the MultiversX team is building. 

Beniamin says xPortal is the best chance for MultiversX to reach a massive scale of people. The entire point of the app is determining the best way to “ship” the product, allowing for a great user experience for the specific features, such as transferring money, playing with NFTs, the card, and more. Moreover, the app's onboarding and distribution must encourage social interaction that allows people to forget about the blockchain technology behind it. Ideally, if this is structured well, the team can start introducing more community challenges where growth is no longer an abstract goal. Still, everything is very closely correlated in the network layer – which would help the ecosystem grow and become more widely adopted. 

2. Blockchain is a necessary solution to some of the challenges we will see in AI

The conversation moved from the recent past to a timely topic in the present and future – AI. Apart from encouraging listeners to dive deeper and educate themselves on AI, Beniamin stresses that AI will become an all-powerful tool that brings challenges and opportunities. Blockchain technology can mitigate those challenges because of its strong sense of truth and rationale. 

Beniamin elaborates and says that in the next couple of months, not even years, we will be able to see some “borderline shocking” new developments in AI. People will find it challenging to understand the truth, and it will be difficult for many to authenticate what AI creates – given the strength it has to create and edit specific facts. Blockchain technology will significantly counter everything AI can do because it can provide transparency and show digital history, potentially distorted by AI. Nevertheless, AI can also be beneficial and will work complementary to the robust features of blockchain. If used correctly, the combination of AI and blockchain can be an essential tool to many that enhances their daily lives and how they work. 

3. Embrace the constant change and never stand still in the everchanging space

To onboard new people, MultiversX is always looking for how they can improve their products. It is crucial to avoid standing still in this rapidly moving crypto space. Constant experimentation, product iterations, community surveys/feedback, and monitoring of what is relevant are critical to adopting and onboarding new users. This is also what MultiversX is all about. 

The team is working on many projects in various verticals. They have new exciting projects coming up within MultiversX. And they are also planning the next XDay!