Managing Partner of the private equity firm FGA Partners and current CEO of innovative technology company Megahoot, Louis Velazquez, comments on the current state of cryptocurrency and the underlying powerful technology behind it, blockchain technology.
“The implementation of blockchain technology into various industries is still in its infancy, the security and transparency of utilizing blockchain for record keeping will become more crucial as we continue to drift further into the digital life. More people are connecting and interacting in a virtual fashion rather than in a face to face fashion, this means that more information is floating in the cloud today that it was even five years ago. Whether it be medical, financial, educational or real estate ownership records, blockchain will become a staple in every industry. From the farmer to the retail store, from the manufacturer to the end user, it’s a simple solution to a complex problem and that is keeping security, transparency and undeletable records of transactions at the forefront”.
“Gone are the days of going back into the file cabinet to lose an old unwanted record or retrieving the wrong medical file for a patient thus avoiding a potential misreading of a chart, filling or even issuing a wrong prescription can be avoided, the uses in the medical industry are endless. Let me even add automotive and real estate records to the mix, this would avoid any issues with revealing the true and proper ownership of an auto or a piece of real estate. In the area of education, especially in light of the recent university admissions scandal involving Edge College & Career Network run by William Singer, former Yale University women’s soccer coach Rudolph Meredith, former head tennis coach for Georgetown University Gordon Ernst, IMG Academy’s Mark Riddell, USC students and their parents such as actress Lori Loughlin, Mossimo Giannulli, David Sidoo, Gregory and Marcia Abbott and the list goes on, blockchain potential could avoid this from ever happening again. Just imagine having an immutable and transparent record system that colleges, universities and examiners can access as well as confirm within the blockchain the identity and test records of a student in seconds. This is all going to happen step by step, especially with a scandal like this coming to light. I recall Anson Williams, former Happy Days cast member, posting that he complained about these scandals years ago as his daughters were working hard to enter university and no authority acted on any of this until now, Blockchain will wind up taking it from here.”
“Now it’s widely known that blockchain technology is the machine that powers cryptocurrency, the rise of the cryptocurrency world is just scratching the surface and there will be growing pains along the way. One of those growing pains will be the realization that regulation will wind up coming into play solidly as we move along, this will avoid fraud and protect those that use cryptocurrency. The problem that is prominent within the cryptocurrency arena is that 99% of all cryptocurrency platforms that have been created lack a utility, what are they used for and why? This is a big question that investors and the media alike should ask about a digital asset project, especially as they are issuing Initial Coin and Security Token Offerings to the general public. There must be a utility and this is why I do see a time, which will be soon, where these random offerings and the platforms will wind up fading away while the ones that actually serve a real purpose will thrive for some time to come. Bitcoin will never disappear, it may be hardforked to death but it will not fade away, it serves a purpose, its widely distributed and it was the pathway to the cryptocurrency market today. In the tech world IBM was a pioneer that opened the doors to the likes of Microsoft and Apple, both who are dominate in the computer space while IBM had to reinvent itself or fade away. IBM is still evolving and growing which is what a Bitcoin could potentially do with the right people leading the way”.
“In closing I would advise anyone that is interested in the cryptocurrency market, not as an arbitrage trader but as an investor, to look at the utility and future prospects of that cryptocurrency, if you can’t find that utility then its best to find one that you can see the utility in”. Stated Louis Velazquez, CEO of Megahoot and Managing Partner of FGA Partners.
Louis Velazquez is available for all media interview opportunities on the topic of Blockchain Technology and Cryptocurrency.
About Louis Velazquez
Louis Velazquez is currently the CEO of innovative technology company Megahoot and a Managing Partner with the private equity firm FGA Partners. He has been in the investment banking/finance arena for over 25 years. He has managed over $2B in assets for clients internationally; initiated various funding efforts for private & public companies as well as commercial real estate projects. His background in technology goes back to 1985 from coding to the development of new technologies. He worked on various business development projects in the early days of the internet with a hands on approach, from developing the structure and advising on the technology to raising capital. He was instrumental in assisting in developing various applications that were used in the social media arena. He is also the host of the popular podcast “Money Never Sleeps Radio” which focuses on finance and investing: www.fgapartners.com
About Pecu Novus
Pecu Novus is a blockchain technology powered digital asset network that enables parties on the network to conduct instant, zero cost coin based transactions globally. The network provides businesses with the ability to place Pecu Novus coins in escrow for most any type of transaction, such as import/export, real estate, consumer products, manufacturing and much more. As of March 16, 2018 the network is managed by Megahoot, LLC, who overseas all maintenance and future development of the network.
About Megahoot LLC
Megahoot is a Technology Company focused on secure private collaboration platforms for business and personal use, incorporating ephemeral messaging, high security, use of cryptography and secure mobility. Products introduced in 2018 include a digital vault for highly secure holding of various cryptocurrencies, loyalty tokens and information on/off the Megahoot Network. With the use of blockchain technology Megahoot will be venturing into various industries from smart homes to health care and more utilizing its blockchain technology platform that will allow corporations globally to create dedicated blockchain networks for their businesses for everything from accounting, logistics, supply chain management, security, education and much more.
For more information on Megahoot go to www.megahoot.com.
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