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The recent rise of cryptocurrencies lends credence to the viability of digital currency.
In the latest episode of Financial Freestyle with Ross Mac, Armando Pantoja joins Ross Mac to discuss the booming cryptocurrency market and the often misunderstood technology behind it.
Pantoja, a former graduate student in cryptology, is now a staunch advocate of cryptocurrency, although his enthusiasm wasn’t always assured. He remembers the crash of cryptocurrency exchanges in 2013, which pushed him to withdraw from the market. However, his perspective changed in 2015 with the emergence of Ethereum.
“I was interested in the computing side of Ethereum (ETH-USD). How this whole system worked,” Pantoja continues. “Then I realized…how things work…how assets fall, how they rise and that led me to get into stocks, into crypto, into tech investing.” This knowledge led Pantoja to create ICO Ranker in 2017, which he sold a year later to 360 Blockchain Inc. for $1.8 million.
Today, Pantoja is a crypto and blockchain expert, traveling frequently to speak about the transformative potential of blockchain technology. As he told Mac, much of the skepticism surrounding cryptocurrencies comes from a lack of understanding of blockchain. ” The problem [is] that most people do not understand what cryptocurrency based on blockchain technology is based on. Blockchain technology is what makes everything so secure,” says Pantoja. His reasoning is that it is “the most secure database ever created…There is…almost no possible way to lose data.” And third, it cannot be altered.
For Pantoja, the real innovation lies not in the cryptocurrencies themselves but in the underlying technology.
“It’s technology and when we understand that [the} technology can’t be stopped,” Pantoja continues. “We’ll understand that everybody on earth, all organizations, every country will have to accept this way of doing things because of… the transformative nature of the blockchain technology.”
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This post was written by John Tejada.
