Our new Disruption by Blockchain series aims to highlight companies that are leveraging the incredible potential of blockchain technology to disrupt and revolutionize their industry. Through one on one interviews, we'll speak directly with industry leaders to cut beyond the hype and get directly to the heart of practical use cases and examples of how it will change the world, one industry at a time.
1. What’s the history of EncryptoTel? How and where did you begin?
RN: The history of the company began in the distant 2013, when me and my future partners worked in one telecommunications company that provided VoIP services. Being an engineer, I met my current partner, and a dear friend by now, Igor Bityutskih, who was a programmer back then. We immediately found a common language in understanding the current shortcomings of the company in which we work. And we both gradually came to the conclusion that everything can be done much better, from company management to the main product itself (we are talking about Cloud PBX for business).
So we began to seriously consider launching our own offer on the market, and the first question was how to correctly set up a task for programmers. We needed someone who well understood the structure of cloud PBX, both, back and front end, in order to reduce organizational workload and work together over a common cause.
This person turned out to be Alexey Kuznetsov. Igor got acquainted with him while working in the same company and we could trust him the key aspects of the development of our product. Alexey already had similar ideas about the future product and even began developing his own rather simplistic solution.
After a year of joint hard work, we finally had a product that could be called a beta version. Realizing that the project takes a lot of effort and personal time, while we still had full-time jobs, I started looking for investments, which would allow us all to fully concentrate on the project. Having prepared the necessary documentation, I started contacting investment funds and accelerators, without significant success, as we received refusals or offers that were not favorable to us. However, I particularly remember the honest response of one of the accelerators: “With the current state of your product, you are able to find the investor yourself.”
That ultimately got me thinking about sharing the project on the World Wide Web. At that time I was an active participant in crypto and blockchain forums, so they became my audience of choice. I thought that my project and ideology of secure communications, where all users will be able to trust the platform, would be appreciated by the community since in many ways it also implies to the blockchain and crypto-currencies.
The received feedback from the blockchain community turned out to be very positive, compared to our previous experience with investment funds when our project did not receive at least approximately similar reaction. So I also had an idea to bring our project to the crypto-analogue of crowdsale – Initial coin offering.
Successful crowdsale and raised funds allowed us to quit our jobs and hire a team of professionals and fully devote ourselves to our promising project. After six months of active development, we are working full force on preparing our product for entering the market and we are confident that we will not fail all those who have believed and continue to believe in us.
2. Who are the founders and key team members?
Roman Nekrasov, CEO and co-founder
An IT specialist with extensive working experience of optimising processes in technological settings including data centres, telecommunications, logistics, HORECA and other B2B/B2C-oriented sectors over the last 8+ years. Roman has been actively involved in the cryptocurrency world since the second half of 2012, when he started GPU-mining bitcoin and began exploring the markets and different blockchain-based projects.
Igor Bityutskih, CIO and co-founder
Igor has 12 years experience of developing and managing projects in areas including the medical industry and telecommunications, and also in patenting different solutions. He holds a Ph.D. in Computational Mathematics and a Master’s degree in Management.
Aleksey Kuznetsov, CTO and co-founder
A software development engineer with a strong background of developing of high-load ERP systems and virtual servers for telecommunications companies, Aleksey developed his own PBX automation system and has successfully integrated this solution into several ongoing projects. He has more than 10 years experience of working in IT and of managing development teams.
3. What problem are you solving? Who are you solving it for?
RN: Now we are seeing how the market of virtual PBX’s and VOIP telephony gradually supplants fixed and even mobile communications, especially in the corporate sector. In our opinion, the main concern about these technologies is security, which prevents the even bigger growth of popularity.
In our product, we use the latest methods and algorithms to protect negotiations and ensure the confidentiality of information. Also, our solution means a friendly interface for both ordinary and professional users, as well as for developers who in the future will develop the necessary functions for each individual business based on our open API. At the moment, these are the most important points for any potential user and business.
So we can say with confidence that our product is aimed at both B2C and B2B sectors.
4. What is your solution to this problem?
RN: Our solution is based on a combination of centralized and decentralized technologies. Now, in the framework of our commitments established after a successful crowdsale, we have achieved much more than expected from us and soon the community will see a more mature platform than it is now. We are creating the world's first decentralized telecommunications ecosystem and we like it.
5. Why is your industry ripe for disruption?
RN: The telecommunications market is one of the oldest and most promising in the IT field, stable growth occurs almost all the time and according to experts' estimates and to a study conducted by Zion Research, by 2021 it will reach a staggering 310 billion dollars, and this even if we do not take into account the launch of 5G networks.
We closely follow the research and news in order not to miss the trend of development, so that when a full-fledged product comes out, it should have the maximum competitive advantage to contend for a significant share in this market.
6. What’s the future of your industry?
Prediction #1: The total capitalization of the crypto-currency market will continue its rapid growth.
Prediction #2: Modern technologies and services will go through an inevitable transformation in accordance with the current realities, making an advantage of decentralized technologies such as blockchain.
Prediction #3: I personally expect that the volume of telecom market will exceed $ 500 billion by 2030