What started as a business school project, Tolar.io has now become a million dollar blockchain. The project is partly funded by COTRUGLI Business School, a European business school based in Croatia. The project was started back in 2017.
Tolar’s founder, Zoran Dordevic, had established the first business school in Croatia back in 2003. The aim to educate future business leaders after Croatia’s independence war. The main goal was to foster an entrepreneurial mindset in the former socialist country. Fast forward to 2019, he is now running a successful blockchain project.
Blockmanity sat down with Tolar’s CEO, Zoran Dordevic, to discuss Tolar, what separates it from other blockchain and where is it going next.
Blockmanity – Tolar is PoS based cryptocurrency designed mainly for transactions. How does Tolar plan to separate itself from many other PoS based cryptocurrencies out there?
Zoran – Tolar is just the token which will be used on our platform – HashNET. Our original goal was to create a platform which solves all the current challenges of the blockchain industry. The current problems of Ethereum blockchain are transaction speed and scalability. If you look at Crypto Kitties, that one Dapp was enough to bring the entire network down.
Blockchain is still a very young technology and has a lot of problems associated with it. HashNET is designed to be fast and solves all the problem currently faced by the blockchain industry. It is a transaction superhighway and decentralized- beyond blockchain project, leveraging Distributed Ledger Technology (DLT) and consensus algorithm which keeps all positive characteristics of blockchain technology while increasing throughput to more than 200,000 transactions per second in live performance testing.
Blockmanity – What is your vision for Tolar.io in the next 5 years?
Zoran – The big picture is to be the leading blockchain solution.
Based on the access to network members, HashNET can be accessible only within a closed network (permissioned) or accessible to the public (permission less).
Organizations in all industries can now select a blockchain platform that fits their needs – regardless of their industry, size, and stage of development – and design and execute their blockchain strategy on HashNET.
Our main job is to get people to know that we are building and serving a very stable blockchain while being decentralized.
Blockmanity – How centralized is Tolar?
Zoran – Tolar is completely decentralized. Anyone who has 500,000 Tolar (around $4000 currently) can stake their tokens and become a master node.
Blockmanity – Tolar’s market cap is rising up slowly. What do you think Tolar’s market cap will be by the end of 2019?
Zoran – Tolar is rising slowly. A lot of our investors are planning to stick with us a long time. The other part of the story, we are currently not listed on any big exchanges. And there is a small dispute between our group members who are in favor of certain exchanges, while some think to avoid those exchanges as they are into pump and dump.
Our current price and market cap is ridiculously low for the technology we are building. But yes in the future I believe investors would see us as a great project.
Blockmanity – One of Tolar’s use case is in the payments industry. What do you think is the future of payments?
Zoran – The Blockchain can definitely help in this area. But it won’t get widespread adoption anytime soon. There will be some resistance in this area from the banking sector.
When it comes to cryptocurrency payments there has been interest from the government and big banks. In the long term, we can see some great adoptions. I think the parts of the world which are not developed properly ( and lack proper financial institutions) will be the ones which will embrace cryptocurrency and blockchain technology initially.
In the future, I think there will be global regulations for cryptocurrency payments, and the blockchains might be controlled by banks.
Blockmanity – What’s next for Tolar?
Zoran – For Tolar, we will be releasing the public main net at the end of June this year. There will be work on the public main net to bring the users to the main net. More focus will also be used to build a thriving community of developers who will build applications on top of Tolar.
For HashNET, the blockchain behind Tolar, we plan to partner with government and corporations to use our blockchain.
Blockmanity – Do you plan to list Tolar on other exchanges? Which one do you have in mind?
Zoran – We have a few exchanges in mind but we plan to approach listing only after our main net is launched. If you are going to exchanges without product, you are mostly doing a pump and dump coin. And that’s not our aim. We are not here for the short term, but rather a long term. We want to provide value to the world as well as our investors.
Our philosophy is to make such a great product that top exchanges reach out to us than we going to them.