The world of blockchain technology has revolutionized one sector after another, from banking and finance, to travel, security, supply chain and higher education to name a few. Its increase in adoption across various industries is due to its unique capabilities of organizing data in a secure and transparent manner that is easily accessible by users around the world. Accordingly, new opportunities for both businesses and individuals have opened up, yet optimizing blockchain technology solutions and returns requires experts.
BDD sat with Jad Adnan (JA), CEO of AETHER, a company specialized in creating innovative blockchain solutions for clients from different industries, to discuss disruptions, challenges and the value of blockchain.
BDD: How did the idea for AETHER come about?
JA: As a freelance developer, came up with the idea for AETHER after being contacted by members of the Lebanese diaspora in Amsterdam looking for blockchain technology talent. This sparked my interest in the growing need for blockchain development, not only in terms of programming talent, but also in terms of product ownership and understanding how to apply it across different industries. My passion for blockchain technology turned into a job when I decided to start AETHER, a blockchain development company.
BDD: What were the challenges you faced while setting up?
JA: Despite the common challenges such as the difficulty in registering the company due to the lack of a banking system and the difficulty in finding talent, I was able to turn these problems into opportunities. I also developed solutions for certificate fraud for the American University of Science and Technology (AUST) for example, and was able to bring my experience from hackathons, events at BDD, and being part of the Berytech Agrytech batch in 2017. This exposure allowed me to identify market trends and needs, and create a successful business. Today, AETHER serves clients from 10 different countries in 3 regions.
BDD: What differentiates AETHER from other blockchain companies?
JA: At AETHER, we stand out from other blockchain competitors by approaching projects with a unique combination of being truly results-oriented, ethical, and grounded in reality, while also fostering creativity and discipline. We start by thoroughly studying the problem at hand, before developing a solution, ensuring that our approach is not just technically sound, but also tailored to the specific needs of our clients.
BDD: What should businesses and individual be on the lookout for, in terms of trends in the world of blockchain?
JA: Blockchain is currently following a trend similar to the World Wide Web after the .com bubble. At the time, both small and large companies, as well as startups, were focused on creating real value and solid business models. Similarly, in this space, there is not only innovation but invention, and the blockchain world is slowly transforming into a disruptive technology able to change the way we do business. It can also help solve many problems across sectors such as REGTECH, EDTECH, Fintech (DEFI) and entertainment.
In my role, I focus on industries that are diverse, and untapped in the blockchain world, because I believe in creating more value and that the blockchain technology can be used for trustless transactions in any sector. Moreover it can remove many barriers to entry in any industry. Any business that wants to create a way for customers not only to trust them, but to be able to verify that trust.
BDD: So what are the benefits for businesses and individuals?
JA: One of the key benefits of blockchain is its ability to create a decentralized, tamper-proof ledger of transactions. This can be particularly useful in industries where trust and transparency are important, such as in supply chain management or in voting systems. Additionally, smart contracts can automate processes and reduce the need for intermediaries, which can lead to cost savings and increased efficiency.
However, this hammer does not fit all nails and not all applications can use this technology, especially those which require centralized points of control. And that's where we at AETHER come in, we study the problem first and then develop and implement a blockchain solution that fits the needs of our clients.
BDD: What’s the added value?
JA: Blockchain adds value to clients by increasing transparency and trust through a tamper-proof ledger, automating complex processes through smart contracts, improving security through cryptography, facilitating interoperability with other systems and enabling decentralization which increases resilience and reduces single points of failure.
It can benefit anyone from designers and artists who want to authenticate and notarize their work with their sovereign identity so that everyone knows the original owner, to societies who want to participate in the global economy without a banking system. It can also add value to news agencies that want to avoid censorship and to governments who want to make certain operations less costly on the citizen. Blockchain can not only give tremendous value to businesses but to customers of these businesses as well increase trust.
Learn more about the complex world of blockchain technologies, with AETHER, here: https://www.aether.solutions/