Concordium

Gate.io x Concordium X-Space AMA

Validator 85223

Validator 85223

— 9 min read

In this AMA hosted by Gate.io, Concordium’s dynamic CEO, Boris Bohrer-Bilowitzki, passionately outlines a future where blockchain technology isn't merely understood, but actively used. With innovative solutions like Protocol Level Tokens (PLTs) and privacy-preserving identity management through zero-knowledge proofs, Concordium aims to revolutionize payments, compliance, and identity verification, positioning itself as the foundational blockchain for stablecoins and PayFi applications.

Table of Contents (Jump to Sections)

Q1: Can you introduce yourself and explain why you joined Concordium? What excites you about the project and what is its vision?

Background of Boris Bohrer-Bilowitzki

  • Originally from Liechtenstein, career rooted in finance
  • Co-founded Copper, now one of the world’s top digital asset custodians and prime brokers
  • Left Copper after 8 years when the company outgrew the founding team

Why Concordium?

  • Longstanding familiarity with the project — Concordium was a former client of Copper
  • Close relationship with Lars Seier, Concordium’s founder and ex-CEO of Saxo Bank
  • Felt disillusioned with the direction of the broader crypto industry 
  • Reads the Bitcoin white-paper annually to stay grounded in the core vision: peer-to-peer electronic cash

What Problem is Concordium Solving?

  • Solving the identity and compliance challenge that blocks real-world adoption
  • Most projects misuse smart contracts and fail at privacy-preserving identity
  • Concordium uniquely implements protocol-level ID with zero-knowledge proofs — ensures privacy + compliance

Key Differentiators

  • ID-based but privacy-preserving — a rare combination
  • No reliance on smart contracts for custodial roles — they should enforce conditions, not hold assets
  • Enables features like:
  • Geofencing
  • Age verification
  • Compliant stablecoin payments

Vision for the Future

  • Concordium is positioning as “the chain for stablecoins”
  • Focused on payment and PayFi use cases
  • Concordium is the only chain that can fully unlock real-world blockchain adoption through scalable, privacy-compliant identity solutions

Comments
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Q2: In light of credibility issues in crypto (e.g., meme coins, hacks like Bybit), how does Concordium differentiate itself to build trust and reliability?

Problems in the Current Crypto Landscape

  • The space is plagued by speculation—meme coins dominate while real utility is ignored
  • Billions lost in smart contract hacks—smart contracts act as custodians instead of enforcing logic
  • Blockchain tech has become needlessly complex, diverging from Satoshi’s original vision

How Concordium Builds Trust

  • Rejects smart contract custody — Smart contracts shouldn’t hold funds, only enforce conditions
  • Implements Protocol-Level Tokens (PLTs) — Native token issuance on the base layer, not via L2 or wrapped assets
  • No value sits in smart contracts, removing a major attack vector

Real-World Payment Focus

  • Core of daily life = payments, not speculation
  • Concordium enables native programmable money for real commerce use cases
  • CCD and stablecoins can be issued directly on the chain with embedded compliance

 Identity + Simplicity = Credibility

  • Built-in privacy-preserving identity (ZK-based) enables compliance without revealing sensitive info
  • Creates accountability and trust for users, merchants, and regulators
  • Moves away from overengineering—returns to basics of peer-to-peer digital cash

 Final Insight

“Smart contracts became a necessary evil… we’re solving a problem the industry created itself. Concordium strips it down to what it should’ve always been—simple, compliant, and trust-based value transfer.”

Comments

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Q3: Is Concordium positioning itself as a key enabler of PayFi through protocol-level stablecoins? How will this drive real-world adoption?

Stablecoins & Global Demand

  • Stablecoin adoption is rising fast, especially in South America and Africa, due to local currency instability
  • Users prefer anchoring to the US dollar despite broader de-dollarization trends
  • Issuers like Tether and Circle are actively seeking real-world use cases beyond trading and DeFi

The Problem with Smart Contracts

  • Most current stablecoins rely on smart contracts, which act as dumb banks
  • Smart contracts introduce custodial risk, vulnerabilities, and inefficiencies
  • These risks are a barrier to real-world adoption

Concordium’s Solution: PLTs (Protocol-Level Tokens)

  • Stablecoins issued natively on the base layer—no wrapping, no L2
  • Not dependent on smart contracts to store or move funds
  • Enables secure, direct, and programmable payments

Network Performance

  • Finality in 2–4 seconds, up to 2000 TPS — comparable to Visa-level throughput
  • Optimized for real-world transaction volume, not inflated DeFi activity
  • Scalable horizontally if adoption grows

Built-In Identity Layer

  • Each wallet is linked to a privacy-preserving identity object
  • ID is verified via external IDPs (e.g. Onfido, Sumsub)
  • Enables features like:
    • Age verification
    • Geofencing
    • “Verify and Buy” logic (e.g., purchase alcohol or tobacco only if verified 18+)

How It All Comes Together

  • With native money issuance + programmable logic + self sovereign ID, Concordium is uniquely positioned to power PayFi
  • Use cases include Amazon-style delivery payments, trade finance, e-commerce, and more
  • The tech is complex under the hood, but simple and seamless for users

Quote

“We’re not here to compete with existing chains in DeFi. We’re solving for real payments, real compliance, and real adoption — at the base layer.”

Comments
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Q4: What has recently changed at Concordium, and why should people have confidence in the team and project?


Acknowledging the Past: Timing & Market Positioning

  • Concordium’s issues stemmed largely from being ahead of its time
  • The timing of its focus on identity and compliance didn’t resonate in a market driven by speculative assets like meme coins
  • The goal was always real-world adoption, but the focus was too broad, trying to compete in the existing crypto bubble

New Leadership & Fresh Strategy

  • BBB joined in September 2023 to steer the ship in a new direction
  • Recognized that Concordium was not positioned effectively — needed a strategic reset
  • The new strategy was revealed at the end of January 2024, focusing on:
    • Stablecoins
    • Real-world adoption
    • PayFi (Payments + Financial Infrastructure)
  • Now, building with purpose: solving problems, not chasing trends

The New Team

  • Peter Marirosans (CTO): Former CTO of Quant Network (a top 50 coin)
  • Mike Milner (Chief Commercial Officer): Early hire at Copper, with extensive experience opening new markets
  • Varun Kabra (Chief Growth Officer): Ex-Tezos CMO, Google branding expertise
  • The team now totals 70+ members, mainly developers, working towards solving real-world problems

Confidence in the Project: Unmatched Tech & Solid Network

  • Scientific foundation is second to none, with cryptographers like Ivan Damgård (Merkle Trees) and Torben Pryds Pedersen (Pedersen Commitment) backing the technology
  • The core USP (unique selling proposition) focuses on identity, compliance, and security—critical elements for real-world blockchain adoption
  • Execution history and leadership are what set Concordium apart from many other projects in the space

Roadmap & Next Steps

  • Major changes are already in motion, with a new commercial focus
  • Confidence is growing, driven by developer engagement and real-world application readiness
  • Upcoming announcements will reinforce the new direction and solidify confidence

Slightly paraphrased quote

“Concordium had to find its place in the world. Now, we’re not chasing trends—we’ve built something that solves real problems, and people are starting to notice.”

Comments

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Q5 You’ve hinted at big news—can you tease what’s coming next? Why is now the right time for Concordium?

Strategy Just Launched

  • The new PayFi-focused strategy was only signed off 48 working days ago
  • Despite the short timeline, early validation has been strong—issuers are engaging quickly

Why Now Is the Moment

  • The crypto space has gone too complex, too speculative — meme coins and hype dominate
  • But everyday payments remain unsolved:
    • Paying in taxis with 3–4% fees
    • Complex backend systems for services like Amazon
    • Lack of programmable, compliant money

Concordium is returning to the original promise of blockchain:

“Let’s go back and actually use blockchain for what it was originally designed for.”

What’s Rolling Out Next

  • PLTs (Protocol-Level Tokens) for native, programmable stablecoins
  • Zero-knowledge identity features (e.g. geofencing, age verification)
  • Smart money functions like conditional release of funds (e.g. after delivery confirmation)

Regulatory Alignment

  • Speculation around ETFs and political developments (e.g. Trump) won’t be the real catalyst
  • True growth will come from regulatory clarity, especially around stablecoins
  • GENIUS Act is a key U.S. regulatory initiative to watch

Upcoming Announcements

- Big partnerships and real-world use cases will be revealed in the next few weeks

- Focus on industries people don’t usually associate with crypto, but use daily

- Goal: enable people to actually use blockchain in their lives without needing to understand it

Quote

“Blockchain is here to be used, not understood. That’s the principle we’re building on.”

Comments:

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Q6: Unlike most blockchains that use smart contracts for stablecoins, Concordium uses Protocol-Level Tokens (PLTs). How does this enhance security, efficiency, and real-world adoption?

1. Security: PLTs Remove Custodial Risk

  • Smart contracts = dumb banks — not built to hold funds securely
  • PLTs are issued directly on the base layer (not L2 or ERC-20 equivalents)
  • Funds can only move from A to B or stay put — no exploit path via contract vulnerabilities
  • Eliminates billions in risk exposure seen across smart contract hacks

2. Efficiency: Streamlined & Scalable

  • No need for escrow, intermediaries, or manual approvals
  • Smart contracts only enforce conditions (e.g., GPS-triggered delivery payments)
  • Built-in performance advantages:
    • 2000 TPS
    • 2–4 sec finality
    • Fork-free consensus (no rollbacks or reorgs)
    • Proof-of-Stake with BFT (Byzantine Fault Tolerance) - HotStuff-based

3. Real-World Adoption: Identity + Programmability

  • Native support for privacy-preserving identity (ZKPs)
  • Enables:
    • Geofencing, age verification, regulatory compliance
    • Smart programmable money (e.g., auto-release on delivery, milestone triggers)
    • Suitable for real sectors like trade finance, logistics, commerce, etc.

Summary: Why PLTs Win

 1. PLTs replace insecure smart contracts with base-layer security

 2. Efficiency through simplicity + programmability

 3. Compliance-ready identity stack fuels real-world use

Quote

“Smart contracts equal dumb banks. Concordium replaces them with native, programmable money—faster, safer, and ready for real life.”

Comments

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Q7: How does Concordium balance identity verification with user privacy? What technologies are used, and what control do users have over their data?

Privacy by Design

  • Concordium uses external IDPs (Identity Providers) like Sumsub, and Notabene
  • These providers verify documents (e.g. passport, driver’s license) — but never store them on-chain

Technology Stack

  • Identity system powered by Zero-Knowledge Proofs (ZKPs)
  • Wallet-linked identity uses privacy-preserving architecture
  • Backend infrastructure built with Haskell, Rust, and other secure languages

User Control

  • Users control their identity object via their wallet
  • The chain never stores personal documents
  • Identity info is only used with user consent, for specific conditions (e.g., age verification, geofencing)

Comments
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Q8: Can you share Concordium’s roadmap for the next year? What should the community expect in 2024 and beyond?

2024: Execution & Expansion

  • A detailed roadmap will be published in the coming weeks, aligned with major upcoming announcements
  • Current focus: deploying the new PayFi strategy, including:
    • Rollout of Protocol-Level Tokens (PLTs)
    • Launch of ZK-based ID features (e.g. age verification, geofencing)
    • Partnerships with real-world stablecoin issuers

 2025: Future-Proofing the Chain

  • Focus shifts toward scalability and quantum security
  • Explore:
    • TPS upgrades based on real usage demands
    • All sorts of things

Q9: What is the long-term vision for the CCD token, and how does Concordium plan to achieve mass adoption?

CCD and Payments Go Hand in Hand

  • Long-term focus is clear: payments, payments, payments
  • Everything said so far—identity, compliance, protocol-level tokens—all ties back to CCD as the native fuel for that system

Not Focused on Crypto-Native Hype

  • Concordium is not here to compete with meme coins or to optimize CCD for speculative trading
  • The crypto market today is largely driven by hype, but this approach won’t lead to meaningful adoption
  • Concordium’s mission is real-world relevance, not crypto-native pump cycles

Mass Adoption — But Not How Most Think About It

  • We must distinguish between crypto-native mass adoption and real-world mass adoption
  • The latter means blockchain used invisibly in:
    • Day-to-day payments
    • Trade finance
    • Cross-border transactions
    • E-commerce, retail, gaming, gambling, and more
  • These sectors require trust, simplicity, and compliance—not meme coins

Strategic Positioning

  • Mass adoption can’t be manufactured; it must be earned by solving real problems
  • CCD will be adopted by default as Concordium powers payment rails behind the scenes

Comments:

Visit: https://t.me/c/1659427635/28190

Q10: Can you share any partnerships Concordium is working on to support the project's growth?

Partnerships Are Core to the Strategy

  • Concordium’s unique value proposition — protocol-level tokens, privacy-preserving identity, geofencing, age verification — has immediately resonated with stablecoin issuers
  • These partners have real problems Concordium solves today — especially around compliance and usability

Everything will be revealed at the next Town Hall

  • 📅 Save the Date: Town Hall Announcement
  • 🗓 April 16th
  • ⏰ 15:30 UTC
  • 📍 Join Concordium’s official Town Hall for full details on:
    • Strategic partnerships
    • Commercial roadmap
    • Feedback from real-world players
    • Next steps for adoption

Comments
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