Blockchain as a Tool for Serious Social Changes

Although blockchain in itself is not a solution, but a technology for the implementation of a solution, if we see it as a tool that can enable serious social changes, Serbia could solve numerous problems by implementing blockchain, but that requires a clear plan and goal, as well as an initiative of official institutions, estimates Stefan Ignjatovic of the local startup Tenderly, which makes tools for blockchain developers.

–I am sure that every institution in this country, at least from the angle of the citizens, could make use of the characteristics of a blockchain. One of the most interesting characteristics of the blockchain technology is the transparency and unchangeability of data. This means that the data on an event, video camera footage, voting and so on, once entered, remain that way forever and are absolutely unchangeable and can be checked by anyone at any moment, so an institution would have absolutely no way of changing the database that every one of us should be able to view and know what the truth is, without having to put trust in a concrete person, because we believe the technology that enables this – Ignjatovic says.

He explains that, in the business practice, this means that we can slowly start excluding from various business processes various stakeholders that act as a guarantee of trust for various types of transactions and redirect those resources (time and money) to something drastically more productive and useful to our society.

He emphasizes that Tenderly was founded in 2018, because the then engineers and now founders needed better tools for the development of products on the blockchain, concretely, on Ethereum and other networks based on it.

The platform aims to provide the necessary set of tools to engineers and teams which develop products and services on the blockchain, but also the full infrastructure which supports the decentralization of the internet, that is, the already current Internet 3.0.

– When I say tools, I mean software solutions such as a drastically easier debugging of the code of smart agreements and the analysis of transactions on a blockchain, and also the simulation of transactions and various blockchain scenarios before putting the product on the market, monitoring the behavior of smart agreement and wallet addresses in real time, as well as notifications, whose parameters are set up by the user, and advanced solutions such as Fork’s solutions for complex simulations and Web3 Actions, which are the basis of the Tenderly automation infrastructure – Ignjatovic explains.

Stefan Ignjatovic welcomes the adoption of the Law on Digital Property and estimates that such a regulation is necessary so that the rules of the game and the terms of doing business in this field would be known, but he does have one complaint:

– The law is pretty categorically strict, especially when it comes to cryptocurrency income tax, which is generally bad for the overall education and acceptance of cryptocurrencies and blockchain among the people – Ignjatovic believes.

He points out that Slovenia has solved this issue elegantly by having the income tax not paid for amounts below several thousand euros.

B. Petrovic

Tenderly d.o.o. Beograd

Tenderly

Stefan Ignjatović

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Law on Digital Property

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