Velas featured on ‘Behind the scenes’ with Host Laurence Fishburne

This episode of the award-winning educational tv-series goes into details about the evolution of blockchain and fintech industry. It also highlights recent problems that the crypto-space faces and mentions some possible solutions.

What the series is about

As technology advances, more services are moving online for the convenience of consumers. One of the more recent booms is financial technology or fintech. Banking, lending, and even donating to people and charities have moved to more widely available online services. This passing of money online gave birth to cryptocurrency and blockchain, and since its creation, it has created quite a stir on the market.

Past five years, from what I’ve noticed, the crypto space has come a long way. There was a lot of interesting development, and we’ve seen more and more mass adoption of the whole industry of cryptocurrencies.

We had a few “bad apples” and a few quick-money grab schemes that were not healthy for the industry. But on the whole, I think the blockchain industry and the crypto industry have advanced a lot, gaining mass adoption and starting to have real-world use cases and applications.

— Farkhad Shagulyamov, Co-founder and Director at Velas

Blockchain is a distributed ledger technology where one can store data, track assets, record transactions or transfer ownership. And this all in an encrypted and immutable way.

— Shirly Valge, COO at Velas

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Cryptocurrency has been widely praised as something that everyone with the know-how can “mine or mint”. Some are even saying that this will be the universal currency of the future, but some are still wary, as every great idea does come with some setbacks.

If I pick the top-3 problems, I would say these are throughput, interoperability, and transaction fees. In our company, we focus on these three for sure. So, if we speak about the throughput, currently, our technology offers one of the highest amount of transactions per second capabilities. So, the second point is about interoperability. We’re also working in that direction, and we’re trying to unite as many different technologies and independent blockchains under one umbrella. In terms of the third point, due to transaction fees, thanks to our technology and capacity of the blockchain, like individual transactions that we are able to process, the cheapest in the industry. So, having these three options together, we believe that we solve the problems of the blockchain and fintech ecosystem that we currently see in the industry today.

— Roman Cherednyk, CTO at Velas

About Velas

Velas is a developer-friendly blockchain ecosystem with smart contract functionality, designed as the infrastructure for a new generation of services, platforms, applications, and games.

Velas is the world’s fastest blockchain, processing up to 75k transactions per second. Velas is trying to solve the famous blockchain trilemma that consists of centralization, scalability, and security. Velas blockchain enhances transaction throughput, speed of transactions, and making them extremely low cost.

— Shirly Valge, COO at Velas

With innovation at its core, Velas aims to be a faster and more suitable system for daily use, removing some limitations faced by older blockchain-based platforms — such as low performance, instability, and high fees.

To join or get to know more about the Velas one-stop ecosystem of products, visit:

About Behind The Scenes

Behind the Scenes is an award-winning program that highlights new stories and innovative concepts through groundbreaking short-form and long-form documentary presentations. Anchored by a veteran production team with decades of industry experience, the program can effectively communicate the most critical stories to a broad and diverse audience.

Learn more at:

Velas Website | Twitter | Instagram | Facebook | YouTube |Telegram

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