Panagiotis Andreadakis talks about ALGOPAN, INC's decision to set up office in Cyprus

ALGOPAN, INC, a Boston-based R&D company specialising in highly efficient software solutions, has decided to open offices in Cyprus, prompted amongst other things, by the country’s strong and educated workforce, its favourable tax system and other strategic advantages. The company’s CEO, Panagiotis Andreadakis, elaborates on what it has to offer to the local market, while also sharing what its goals are with this new venture.

Can you tell us a bit about ALGOPAN, INC and the products it offers?

ALGOPAN, INC is an active research and development (R&D) company that deals with high-efficient software solutions. The advanced algorithms licensed by us relate to cryptographic protocols, random number generators and homomorphic AI for military, betting, gambling and business sectors holding large volumes of confidential customer data, such as hospitals. We have innovations in green encryption technologies and green random number generators, all targeting to provide secure and sustainable solutions across many industries.

What prompted ALGOPAN, INC to open offices in Cyprus?

Cyprus has a long history of entrepreneurship dating back to its days as a major port for copper, whilst boasting a well-trained workforce that perfectly aligns with our operational needs. Additionally, Cyprus offers a friendly tax regime and strategic advantages for those businesses targeting stock market listing. These are ideal circumstances under which ALGOPAN may extend its reach and capabilities.

What will ALGOPAN, INC be offering and what is the company's goal for entering the Cypriot market?

ALGOPAN, INC will provide Cyprus's private individuals and business entities with sustainable algorithms and unbreakable security, like the RPC (Random Position Cipher), our custom superior encryption algorithm. One of the main goals is to enhance gaming experiences with much more advanced procedures and advanced security solutions that can aid in protecting sensitive data. By entering the Cypriot market, we aspire to become a leader in innovative software solutions and contribute to the technological advancement of the region.

Will ALGOPAN, INC be bringing human capital with it? How many members of staff will the Cyprus office have?

We will initially start with a team of 7 highly skilled professionals. In addition to our core team, we are excited to offer internship opportunities to Cypriot students from various universities, such as the University of Nicosia. This initiative aims to boost local talent, provide practical experience and contribute to the development of a skilled workforce in Cyprus.