CLO Alex Paramonov: “Blockchain in games protects gameplay transparency”

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27 February 2020
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Alex Paramonov – IQeon

We continue to introduce people who are developing and improving IQeon. We are glad to introduce Alex Paramonov, Head of legal department (Chief Legal Officer, CLO)!

Alex has many years of experience in the field of legal support of IT-business and banking.

Alex has been working with IQeon project since its foundation, when the ideas of the gaming platform were just emerging and intensive work was being done in order to find investors and partners for the future project. From 2018 to the present day, Alex Paramonov has occupied the position of IQeon Chief Legal Officer.

At IQeon, he is responsible for resolving legal issues related to the platform, including both quite familiar legal tasks and specific ones that lawyers specializing in IT, GameDev, FinTech, blockchain, investment and innovation come across.

According to Alex, working in a project related to the global gaming industry and using advanced blockchain technology differs from working with a traditional online business. The expert is sure that in order to have sufficient qualifications in the field of legal regulation of blockchain projects, it is necessary to understand how this technology works, know its fundamentals and basic values, be able to analyze strengths and weaknesses in relation to each project. It is also worth remembering that with the implementation of blockchain, the project, in addition to new possibilities, may bring additional legal obligations and risks.

Today, for example, global crypto community is hotly debating aspects of blockchain and digital assets legal regulation, which, of course, affects the entire industry of blockchain projects.

In recent years, regulators’s attempts to take control of the cryptocurrency industry fell under sharp criticism. Of course, legislative regulation of the most important aspects of the blockchain and crypto community life should be beneficial. However, I consider methods chosen by authorities to be excessive pressure, which, I hope, will be temporary. A vivid example is ban imposed on cooperation of banks with blockchain companies, which use digital assets and crypto in their business processes. 

Blockchain community and authorities should find a comfortable balance in the relationship so that the degree of tension moderate and the technology can further expand its geography and field of application.

Also, crypto enthusiasts discuss a violation of user privacy, while anonymity is one of the core values ​​of blockchain technology. In this regard, Alex is convinced that the disclosure of personal data may be justified if such procedure is introduced to protect users.

Unfortunately, the advantages of modern technology have always been used by criminals. Therefore, in those areas where confidentiality and anonymity can create convenient conditions for illegal activities, restricting anonymity can become a serious obstacle to using the functionality of blockchain projects for criminal purposes. However, such restrictions should not be applied totally, the authorities should not abuse their rights in relation to blockchain projects.

Now projects that strive to be law-abiding and conduct business transparently are already turning to the authorities to obtain appropriate permits and recommendations. This is not about the largest blockchain companies only, but also about lesser-known projects seeking to create advanced products without violating laws. IQeon is one of such projects.

Alex is optimistic about the further development of IQeon, because gaming industry is actively introducing new technological solutions and shows impressive growth dynamics every year.

The world is rapidly changing, and the business is adapting to consumers' demand for innovation. Therefore, the use of blockchain in the gaming industry has become a logical decision. I believe that blockchain in games can complete very important tasks, including protecting the transparency of the game process and preservation of game achievements.

The key ideas that are embedded in IQeon platform remain unchanged – the game process should be protected from dishonest manipulations, and users should be able to monetize their in-game achievements.

Blockchain for IQeon platform is an effective tool for creating a multi-million community of users based on trust and ample opportunities for monetization.

The next material about the IQeon team is coming soon! Follow the news on our platform and in the official communities of the project.

 
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