The global pandemic did a number on many facets of the world economy to be sure. Essentially after all is said and done, only a few sectors have continued to grow under the doom and gloom of the economic shutdown. Both the pharmaceutical and technological sectors have managed to weather the storm, and a key component in the IT field was the ever growing sphere of blockchain technologies which are being designed and utilized by young entrepreneurs of the world. With regards to this global occurrence, Ukraine is no exception. Case in point, the likes of Bohdan Prylepa.
Prylepa, a now well known expert in blockchain technologies, began like many others in his field, thirsty to get ahead. It was in 2013 while still in university that he first became acquainted with the world of crypto, but it wouldn’t be until three years later in 2016 that he made the decision to enter the field by co-founding the IT company Prof-it.
Prylepa realized that for any IT company to remain relevant in the future, it would have to take full advantage of blockchain technology, and that is exactly what Prof-it did. The company created software centered around blockchain technology which in turn enabled new forms of business solutions, created a wide array of web products, and also produced mobile applications as well. Prylepa now sits as the CTO of Prof-it which has grown to be a large company in its own right. He manages a staff of over 150 people, with offices in Ukraine, Montenegro, Dubai, and Thailand.
Prylepa was a key player in the development of Bitcoin Ultimatum (BTCU) after the last BTC forking. BTCU was designed to fix some of the flaws present in the predecessor Bitcoin. BTCU created many new advantages, including major developments in speed and security, allowing for 200 transactions per second, with the ability to scale up to 10,000 transactions per second.
Prylepa is also VP of eHold group. He advises various regulatory authorities in numerous countries with regards to cryptocurrency. This, along with Prof-it, Prylepa worked to establish Qmall. Qmall is Ukraine’s first government regulated crypto exchange. It was launched in November of last year and boasts the ability of users to buy into crypto through some of the thousands of Ibox terminals around the country. Qmall was established after years in development, with Prylepa and his team earning $3M of investment into the project to get it on its feet. Now Qmall is set to be the first exchange which will exist within its own MetaVerse. The feat of Qmall being the first such crypto exchange in the world to do so, will be realized later in 2022.
WeWay is the next endeavor of the Ukrainian entrepreneur. WeWay is a blockchain platform which enables users to buy and self NFTs, and in doing so enables users a new form of interaction with their favorite influencers and celebrities alike. Sticking with the idea that blockchain is essential for technology to stay relevant in our times, the platform is social media, meets crypto. It is progressive step towards the technology’s integration into current platform settings.
Prylepa shares the belief, as many others in the field, that banks will inevitably adopt blockchain and cryptocurrency. Essentially each state is moving towards its own digital currency. Currently Prylepa and his team are working on creating technical solutions for banks that do not want to be left behind with regards to crypto technology. The future of integrating banks with blockchain solutions is happening now and Prylepa once again, is a step ahead involved in that process.