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From the Ethereum Foundation to BR Capital: Vlad Martynov’s Blockchain Odyssey

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Discover the Wild World of Blockchain with Vlad Martynov! 🚀

In a delightful tête-à-tête, crypto.news had the pleasure of chatting with Vladislav Martynov, a man whose career reads like a high-tech fairy tale. Picture this: a young entrepreneur, fresh out of the ’90s, teaming up with the parents of Ethereum co-founder Vitalik Buterin. Yes, you heard that right! They were selling an Enterprise Resource Planning system before most of us even knew what a computer was. Fast forward a few years, and Vlad is now the managing partner at BR Capital, navigating the ever-turbulent seas of blockchain. 🏴‍☠️

CN: Can you briefly introduce yourself?

VM: Ah, the classic icebreaker! I’m a high-tech entrepreneur who co-founded my first startup in the late ’90s with Dmitry and Maia Buterin, the proud parents of the Ethereum whiz kid. We were selling an innovative ERP system, which sounds fancy but was really just a way to help businesses manage their chaos. After that, we jumped on the SaaS bandwagon before it was cool, creating one of the first CRM solutions in the early cloud era. My love affair with disruptive technologies began when Dmitry introduced me to Bitcoin in 2012. Then, in 2014, he shared his son Vitalik’s vision for Ethereum — a decentralized, permissionless platform. It was like being handed the keys to a digital kingdom! 🗝️

CN: Which led you to where? 

VM: Well, soon after, I found myself on the Ethereum Foundation’s Advisory Board, promoting blockchain education and developer growth. I co-founded BlockGeeks and the Ethereum Competence Center, which sounds impressive, doesn’t it? During the ICO boom of 2016–2017, I advised startups exploring tokenization and stablecoins. Spoiler alert: most of them crashed and burned due to immature technology and markets. This little disaster inspired me to create BR Capital, a regulated fund focused on DeFi and Web3, where I now work as a managing partner. Think of me as a digital lifeguard, supporting startups and attracting global capital with confidence and security. 🏊‍♂️

CN: How does BR Capital operate? Is there a strategic vision behind the fund?

VM: At BR Capital, we mix VC insight with hands-on building. Our algo-trading platform, which has been around since 2017, is a testament to that. Newcomers, including traditional finance folks, are curious, but navigating blockchain’s complex layers to reach the app stage is like trying to find your way out of a corn maze without a map. VCs with deep knowledge are essential for deploying capital effectively. 🗺️

CN: What about the current investment climate for blockchain startups?

VM: The investment climate for blockchain startups is looking more appealing now than in past cycles. Regulatory acceptance and institutional adoption are outpacing retail growth, which is a fancy way of saying that the big kids are finally playing in the sandbox. We’re shifting focus from infrastructure to practical Web3 applications like marketplaces, rewards, and privacy-enhanced social networks — opportunities that were as rare as a unicorn in earlier cycles. Technology has matured, with advancements like Ethereum’s Layer 2 solutions making the Web2-to-Web3 transition smoother than a buttered slide. Plus, younger generations find crypto intuitive, like touchscreens after the smartphone revolution, while credit cards are starting to feel like rotary phones. This mix makes the current cycle uniquely ripe for innovation. 🍏

CN: What advice would you give blockchain startups seeking funding in the current environment?

VM: In the past, we overemphasized technology over product. Now, founders must prioritize product, leveraging Web3 business models while nailing the fundamentals: clear reasons to switch to Web3, strong product-market fit, solid UX, and sound financial management. Focus on delivering value, not just tech. Remember, nobody wants to buy a fancy gadget that doesn’t actually do anything! 🎁

CN: Are there specific technologies or initiatives that you are currently looking at?

VM: Absolutely! Several stand out. AI-enhanced security to proactively protect against cyber threats is a must. Abstract Accounts that simplify Web3 access with secure, user-friendly digital identities are also on my radar. Zero Knowledge Proofs might enable privacy-preserving DEX-bank collaboration, fostering trusted data exchanges. I’m also keen on initiatives linking Web2 and Web3, like traditional institutions adopting crypto and DeFi, or Web3 apps enhancing Web2 UX with models like GameFi. Our investment in Pave Bank reflects this — its PaveNet layer integrates third-party services into a regulated banking environment, leveraging DeFi’s programmability for seamless money management. 💰

CN: How do you think traditional financial institutions are adapting to DeFi, and what role will regulation play?

VM: Initial steps include offering crypto accounts, as Revolut has done successfully, though DeFi integration lags behind like a tortoise in a race. Next, banks could use DEXs for low-cost swaps, staking (e.g., 4% yield), and lending (e.g., 10 %+), outpacing traditional interest rates, which are often zero on business accounts despite fees. Pave Bank and hopefully Revolut are eyeing this. Regulation will shape competitiveness: efficient, reward-focused banks will thrive; outdated, costly ones will falter. 🐢

CN: Do you envisage any collaborative opportunities between DeFi and TradFi?

VM: Absolutely! Banks could integrate DeFi services into crypto accounts, as noted earlier. Traditional players might tokenize real-world assets (e.g., real estate, commodities) for DeFi protocols, enabling fractional ownership and trading on DEXs, diversifying investment options. Blockchain could also boost TradFi’s security and transparency—unlike centralized systems like ByBit, which falter during hacks, or traditional finance, frozen by events like Buffett’s sell-off or the 2008 crisis, DeFi and crypto remain resilient. 💪

CN: How do you see the regulatory climate in the next cycle, particularly with respect to the new Trump administration’s stance towards crypto?

VM: Global regulators have been playing hard to get with crypto, with only smaller nations exploring progressive laws, wary of U.S. dominance. Recently, both Biden and Trump have shifted to pro-crypto stances, driven by young, tech-savvy voters (25-30) who prefer Web3 and find crypto intuitive. Traditional finance now sees blockchain as the future internet, unstoppable in adoption. Trump’s personal experience with censorship, bolstered by his blockchain-savvy family, fuels genuine intent to lead this revolution — unlike Biden’s political pivot. His team, including Department of Government Efficiency outsider Elon Musk and appointed crypto czar David Sacks, signals action on legislation like asset tokenization and DeFi integration. Coupled with the recent news of the Bitcoin Strategic Reserve and clarity on digital asset regulation, I expect a more supportive approach under Trump, unlikely to worsen from here. 🏛️

CN: Lastly, how might policy changes impact the growth and adoption of blockchain technology in the U.S. and globally?

VM: As I mentioned, radical perspectives for and against blockchain are softening and coming closer together, leading to better discussions about tokenization, efficiency, and transparency of the financial system. I also think that as soon as the U.S. increases the amount of the National Reserve in Bitcoins and creates a sizable stockpile of crypto assets, there will be a domino effect: other countries will follow suit. Many countries from Latin America, the Middle East, Africa, and even Europe have been waiting for more specifics from the Trump administration and the SEC. Current price volatility in the markets is just a short-term chaos. Inevitable, given the sudden shift to very different policies in the U.S., with political meme coins, unclear policies on tariffs, revenge tariffs, etc. Time is needed for everything to settle down. Medium-term, I’m extremely bullish for late 2025, by which time we’ll have clearer policies and a longer-term vision beyond that. 🌍

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2025-03-25 17:02

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