Bilal El Alamy has been working in Web3 for a while. His first company, Equisafe, was the first STO (Security Token Offering) on Tezos to tokenize real-estate.He also founded Paris-based startup lab PyratzLabs, and co-founded Dogami, a 'petaverse' NFT-based project where users can adopt and raise virtual dogs.
The Blokhaus team caught up with Bilal El Alamy recently in Paris, during the Tez/Dev 2022 event. You can watch the full video above, and you'll find extracts below. Among the subjects covered in the conversation, El Alamy's early experience of working with Tezos after switching from Ethereum, his hopes for blockchain to become more mainstream, and the importance of both community and pedagogy in Web3.
Early experience of Web3 and switching from Ethereum to Tezos:
My first experience of Web3 was with my first company Equisafe, [...] we choose actually Ethereum [but] very quickly, we were limited by the gas cost and the scalability of the blockchain. [...]After looking here and there, we fell on Tezos, which was Proof-of-Stake. So solving both issues on gas cost and scalability of the transactions, [and] also you have other value propositions, such as the upgradeability of the blockchain, which allows you to scale with your user base.
On the security benefits of Proof-of-Stake, and Tezos in particular:
The Tezos Foundation is audited, and huge corporates [...] want to work with a blockchain that is audited. And [...] with Proof-of-Stake protocols, you actually know who is validating your transaction. It's very important [...] because on Proof-of-Work protocols, you don't know who is validating your transaction [...].
On the challenge of developer onboarding and adding liquidity to the DeFi ecosystem:
It's important to teach developers how they can build on Tezos so that then they can become autonomous. And also [...] bring more liquidity to the DeFi ecosystem, because we've seen with other blockchains that it [can be] a catalyst for adoption.
The importance of community and collaboration in Web3:
[B]eing a maximalist in Web3 is a nonsense for me because Web3 values, they're about collaboration, connecting people, empowerment, redefining ownership, and how you can hold on your own data. So I would like to see less maximalism and more people building interoperable apps, collaborating from one blockchain or the others because there is value everywhere. [...] I think what is great with blockchain is that you are very customer-centric, but you are very community-centric as well. And those communities, they're not just localized, there are people who want to bond because they believe in the same thing.