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The Business Processes That Make This Blockchain Company Effective

  • 26 July 2019
  • Dylan Love Dylan Love

Depending on who you ask, EOS is either a blockchain technology stack or an “entrepreneurial operating system” that businesses of various sizes use to harness their team’s energy and get things done.

Alex Melikhov is squarely in the blockchain camp: the serial crypto entrepreneur co-founded the crypto exchange platform Changelly in 2016, the digital asset repurchasing platform Oxygen in 2017, and launched the EOS-based stablecoin platform Equilibrium earlier this year — that’s the EOS blockchain, not business process playbook.

Equilibrium is a framework of smart contracts that lets users lock up their volatile digital assets as collateral that backs a USD-pegged stablecoin called EOSDT — there’s more than five million EOSDT in circulation at the time of this writing. Even though Melikhov’s got blockchain on the brain, he’s no stranger to business process.

“I stick to agile methodology, and am always applying it to the projects I run,” Melikhov said, referring to the popular software development mechanism that sees self-organizing teams collaborate and evolve to serve a product’s end user. “It not only works perfectly for software development, for our marketing and sales as well — you can always rethink the agenda at the end of a sprint.”

Successful agile implementations call for adaptive planning, early delivery of a product, and continual improvement of that product. They encourage rapid response to change, and this is an especially useful trait for those in the crypto space — you need to be able to respond to the always-changing reality of the market, quickly and gracefully.

“Agile offers a certain flexibility that fits the crypto market’s variability extremely well, and it lets us adapt to new circumstances,” said Melikov.

In his current role as CEO of Equilibrium, Melikov is responsible for the stablecoin framework’s overall strategy and execution. But he also has essential technical expertise that sees him constantly involved in the framework development — not only has he previously built successful fintech products, but he trained as an engineer in applied mathematics. When the inevitable problems arise, he’s eager and capable to solve them. He revealed why the Equilibrium team changed the way they tackle “grooming,” an agile term that refers to backlog refinement, or more simply: solving old, known problems.

“We previously did our grooming in the very beginning of a new sprint, and it caused a lot of problems with term estimation,” Melikhov said. “Now we do grooming way before a new sprint, so every team member could think through the scope of what needs to get done and more consciously participate in planning.”

He also emphasized the importance of blockchain business processes serving cybersecurity, both for the users and the platform itself. “We take this very seriously at Equilibrium. Whether it’s access to sensitive information, account credentials, blockchain or smart contract addresses, or simple web server access, it all needs to be precisely regulated and tracked.”

Melikhov teased that there will be new features coming to Equilibrium soon, including the ability for users to collateralize digital assets beyond EOS (think other popular cryptocurrencies like Ether and Bitcoin). But whatever they’re up to next, the team’s agile approach ensures that they will remain flexible and responsive against a volatile, uncertain crypto market.

Dylan Love
About Dylan Love

Dylan Love is Editor In Chief of Front Lines Media. He's a technology enthusiast with a writing habit. Or a writing enthusiast with a technology habit. He gets it backwards sometimes.