Back
Jul
24
2018

Blockchain Enthusiasts Create Website about Baltic Blockchain and Cryptocurrency

  • Image provided by:

Cryptoshib is a Latvian-created website that shares and creates content about blockchain and cryptocurrency.  Unique from other such websites, Cryptoshib focuses on developments in the Baltic states, and has already been visited more than 7000 times since its launch on May 28th.

The website's creators, digital marketing and internet enthusiast wife and husband duo Laima Nandi and Shibashish Nandi, met while Laima worked in film producing and Shibashish was a composer in Bollywood. Since 2013, they've both been working in digital marketing.

“Last year, when public interest in blockchain and cryptocurrency hit a new high, we noticed how many phony projects were popping up. And so we had the idea that we could share our knowledge on a website, where people could learn how to avoid making mistakes and investing in scams. As we created the page, my husband started asking the blockchain community what information was missing, what people couldn't find. That's how we focused the website's content,” Laima explains.

Once Laima and Shibashish laid out the foundations for their website, they started researching more about Baltic state blockchain and cryptocurrency projects.  It was difficult to find concrete information because it's not summarized anywhere. “If you're talking about Latvia, there's this saying: Where there are two people, there are three (political) parties! For example, there are three blockchain associations in Latvia! Each has its name and similar projects, but none of the three have responded to us so far.  We've found that often in these types of companies, each person lives in their own country and are trying to work together and create a project. But they don't show up anywhere in Latvia, don't show up to any incubators,” says Laima.

The story is different in Lithuania and Estonia. “We've started to understand Lithuania. Legislation there is organized, and blockchain is having a real boom. Everything there is centralized; there is one organization, which is trying to bring together all enthusiasts. You can also feel how they communicate between one another. In contrast, we know quite little about the situation in Estonia. They often make websites in their own language - it's quite difficult to find information in English. Estonia is technically ahead of the other Baltic states in terms of technology, but you can't find public information about ICOs (initial coin offering). This makes it hard to understand what they're really doing, where they're finding investors,” concludes Laima.

Currently, Lithuanians are most successful in blockchain. In fact, they're third in the world by capital raised by ICO. “After passing legislation, they were able to attract 1.5 billion cryptocurrency tokens of investment. Lithuanians have always been entrepreneurs.  They understand that where there's money, there's work, income, taxes,” says Laima. When will Latvia realize cryptocurrency's potential? Laima believes that it will happen when there's a successful project: “Those who work with blockchain are the ones who understand that this is the industry's next revolution.”