Nicolas Kokkalis – the founder and Chief Technology Officer of the cryptocurrency project Pi Network – has officially appeared before the media for the first time since the project's launch. However, this anticipated appearance did not create a positive price effect, as the Pi token price continued to decline after his speech at the Coindesk Consensus 2025 conference held on May 16 in the United States.
In his speech on topics related to artificial intelligence (AI), blockchain infrastructure, and the potential for practical application expansion, Mr. Kokkalis emphasized that community trust is the most important factor for a blockchain project. He believes that Pi Network is not simply a cryptocurrency, but aims to build a global ecosystem where users can actually use Pi in daily activities.
One of the notable points was his assertion about the critical role of Know Your Customer (KYC) in blockchain projects. Kokkalis acknowledged that Pi Network has not yet officially opened its network. He said the development team is prioritizing controlled network deployment, integrating identity protection measures, preventing fraud, and working towards creating an environment where Pi can be truly used in daily life.
Speaking at the conference, Kokkalis said:
"Today I'm not talking about technology, but about trust. We are building Pi Network together, not just as a digital currency, but with a vision to create a global ecosystem".
Pi Network was founded by three co-founders: Nicolas Kokkalis, Chengdiao Fan, and Vincent McPhillip. Kokkalis is responsible for technology, Fan oversees the product, and McPhillip was the community leader until he left the project in February 2021.
Although introduced as a Stanford University PhD graduate, Nicolas Kokkalis rarely appears publicly. On the X social media platform (formerly Twitter), his account has only four total posts, including two from 2013 and two from 2021. Before the May 16 event, his most recent appearance was in a short video posted on the Pi Network app in June 2022.
Information about Kokkalis's participation in Coindesk Consensus 2025 was announced earlier and created great expectations in the global Pi user community. However, his speech did not delve into any specific information about network opening plans or future development roadmaps, leaving many disappointed. Many community members believe that Kokkalis's failure to emphasize the practical value of Pi and lack of specific action commitments are reasons why trust in the project is wavering. In this context, the Pi token price continues to show a declining trend, despite the event being seen as a "milestone" for the project.
Also Read: What is Pi Network? Complete Information About PI Token
