Dzmitry Miranovich, KY - Notary Public


#1

Hello everyone,

My name is Dzmitry Miranovich. I first heard about POA Network from my wife, who has been an active supporter of the project and was deeply engaged in the community from September 2017. I got fascinated by the possibilities that it unlocks in the “old world” industries, that I represent.

My academic and professional background is in traditional sell-side and buy-side finance.
I started my career as an investment banking analyst at Deutsche Bank and few years later moved to The Carlyle Group, a global alternative asset management firm with over $200 billion of assets under management across several hundred investment vehicles. I work for the credit team, which makes investments across a variety of industries, anything from tech companies to service or manufacturing businesses.

Aside from my full-time job, I am also serving as a Vice Chair of Young Wall Street Ambassadors, which is part of the largest local nonprofit, United Jewish Appeal. In my free time I am exploring real estate investment opportunities in up and coming areas of Northern Kentucky and Ohio.

Being closely involved in financial industry, nonprofit operations and having a good understanding of real estate investing & operations, I see a large number of use cases for POA (take a look at the post that I wrote with some of them). Here are the top 3 reasons, why I believe that the project can receive adoption in the areas where I work:

  • Combination of monetary and reputational incentives for the guardians of the network. I came across some discussions on the forum and really liked the terms “representative decentralization” and “controlled decentralization”, which give representatives of the traditional industries assurance of the safety and transparency of the network governance, making the transition to blockchain adoption much smoother
  • Interoperability. None of the industries I have mentioned exist in silos. Ability to seamlessly transact between different Ethereum-compatible networks increases the number of potential use-cases for businesses that have already adopted the technology
  • POA is one of the few blockchain projects, that demonstrated tangible results and achieved the promised milestones. I am positive, that based on the current execution rate by the team, this is just a beginning

I recently received a status of Notary Public in the State of Kentucky. Please see the links below. Even though I currently work in NYC, I still consider Kentucky to be my home state. I have some family there and I received my undergraduate degree from Bellarmine University in Louisville, Kentucky.

I spun up the bootnode on the testnet by following the instructions on the POA Network Github wiki. Throughout the process, I had a chance to talk to several active POA Validators and I was impressed by how seriously they take their role and how much resources they dedicate to serving the network.

I hope to become a valuable contributor to the POA network in the capacity of a validator and I would highly appreciate the opportunity to be part of this project. I understand the reputational and public aspect of POA and I realize that my information will be available publicly to the broader world.

I welcome any questions

LinkedIn Profile

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Name: Dzmitry Miranovich
State: Kentucky, Campbell Country
Confirmation ID: 562902
Kentucky Notary Public Search: http://app.sos.ky.gov/notaries/


POA Validators & Candidates Guide
#2

Do you actually live in Kentucky or New York?


#3

Hi @1proof - my full-time job is in New York, but as I mentioned, I went to school in KY, I have family there, and I go there frequently.


#4

Hey @DZM! Good to have someone with traditional finance background contributing! What do you think it takes to get grown-up businesses to trust public networks to put some of their processes on their blockchains?


#5

Hi @oxanakunets - thank you for the question.

Managements and boards of all companies have fiduciary responsibilities to their shareholders. Two key risks that we always evaluate when looking to make new investments or while managing existing portfolio companies are: (A) risk of technological disruption (i.e. the Company’s business being disrupted by a new technological solution, think, cars disrupting horse carriages), and (B) risk of technological “upgrade” or integration going wrong, causing disruption to the internal and customer-facing systems.

While blockchain could be seen by some mature companies a way of avoiding risk (A), it also naturally introduces risk (B). For mature companies to start adopting blockchain technology, there has to be a clear roadmap with detailed steps. There should also be a “fall-back” or plan B in case things go wrong. Companies often pilot new solutions with select group of customers in isolated environments, which would most likely be the approach with blockchain.

Furthermore, Private Equity (“PE”) firms (which own a large portion of the businesses globally, but especially in the US) often rely on third party advisers for efficiency/innovative solution. A number of those advisers (especially Big4 accounting firms) have recently been building up blockchain teams. This factor I think will be helpful in furthering the adoption of the technology.

PE-owned companies are very focused on returns on every investment or initiative that they undertake. Therefore, there has to be a clear case of what savings and/or additional revenue could be generated from blockchain implementation and what is the tangible $ return from those investments. It usually takes time for people to wrap their heads around theoretical benefits and come up with potential tangible impact. A lot of companies are closely following the developments in the industry and pilot projects already adopted by certain businesses. Keep in mind that efficient transactions, transparency, and other “intangible” benefits, actually have very tangible $ impact, which is not seen with untrained eye. For example, by making certain processes better that way, you could eliminate a need in second layer of checks or eliminate need in certain functions all-together, generating $ savings.

If the monetary savings make sense and technology proves itself reliable in the trial mode, the precedent opens doors for various blockchain networks integrations. Private networks will definitely come first, as a safer bet, more applicable in the context of some internal security procedures. Large businesses can adopt private, permissioned networks with limited to no risks to the overall security. At the same time, small and medium sized businesses, that don’t have resources or expertise to set up private blockchains, would benefit tremendously from being able to use public networks.

Happy to elaborate if you have additional questions!


#6

Got it! Makes sense!


#7

Hi everyone,

Congrats on the productive couple of months! Excited to see in the News and Updates that the team is hard at work developing and deploying new features!

I recently attended presentation by David Weild (former vice-chairman of NASDAQ) on Wall Street adoption of blockchain to learn more about how the industry is seen by the institutional side. In addition, over the past few months I talked to many people in private equity and hedge fund communities about blockchain in general and POA in particular. It’s great to see that the interest is definitely there and people are open to learn more and experiment, but significant changes take time to come to fruition.

I am still very interested in being a POA validator. I reached out to a number of validators to learn more about the network and validators’ role in it and wanted to thank those who responded and took time to talk to me. It was a huge help!

It seems that the validator group is getting more responsibilities with the recent fork. Among other things, ballot and voting process has been updated. How is this going to affect the selection of new validators? Is there a general procedure with regards to that?

Regards,
Dzmitry