Spotlight: Dr. Julian Hosp, innovator & Co-Founder of TenX
We've come to a crossroads with our money matters... once again. Since 2008 I, like many others who suffered massive losses from the property bubble and subsequent sub prime mortgage crisis saw our life's savings go from our pockets into the offshore bank accounts of the wealthiest 1%.
Now in the year 2017, some 9 years on, new technology based on the 'mother of all cryptocurrencies' Bitcoin, give people on the ground the opportunity to claw back that money from the filthy rich. An opportunity for what could be the biggest transfer of wealth back to the people, in known history. Some are touting the rise of cryptocurrencies as the start of a financial revolution.
I had the opportunity to meet one of the pioneers of the crypto world, Dr. Julian Hosp of TenX; a company that allows users to spend their cryptocurrency in real life with a prepaid card. As I walked into the hotel's cafe I noticed a group of people gathered around him listening intently. The key takeout from this informal gathering of investors and crypto enthusiasts was that bitcoin is here to stay and cryptocurrency will have a place in our lives in the coming years, one way or another. Julian fielded a volley of questions for 2 hours straight which was inspiring to watch, in a setting that was level playing ground; all of us equals, living up to my ideal of this 'new money' world - a grassroots movement countering the elite exclusive business insiders that keep the profits to themselves in the realm of old money, the stock market.
Whether that ideal plays out is anyone's best guess but there is plenty of hope backed by good tech, new ideas and innovative products. Dr. Hosp believes that the new money of Crypto and old money of Fiat will coexist in a kind of financial ecosystem. Bitcoin could replace gold like some kind of digital gold. After all gold is hard to secure, store and transport. Bitcoin is easy to secure, just memorise your 24 word backup phrase and your bitcoin is safe. Nations may adopt their own national digital currency in the future. All these systems can coexist. TenX has carved a place for itself in a competitive market with over 100,000 users on its platform, with its sights set on 1 million on the path to 1 billion users in the future. Dr. Hosp is ambitious but fully capable of achieving results as he has shown. The determination was apparent in the way he explained his vision for the company in a forthright clear way.
Finally, the elephant in the room came up; the bitcoin bubble. There is consensus that bitcoin is over extended but there also is consensus that bitcoin does not fit established stock modelling. It's proved them wrong all year. Despite this there are ample articles, rumors and whispers that bitcoin will do this or that by year's end. No doubt there will be turbulent days ahead but one thing is clear, cryptocurrency is a new economic environment that defies old methods of reading the market and it's here to stay.
To follow Dr. Julian Hosp on his journey with TenX you can find his twitter page here.