In episode 3, we interview Ray Monge Jr. for our “Blockchain and You” series. Ray is a friend of the Blockchain WTF team and apart of the cryptocurrency and blockchain community. We ask his past, present, and future takes on blockchain, cryptocurrenies and their impact on his life!
What was your reaction to hearing about blockchain technology?
What’s your take on cryptocurrencies?
I would like to see more businesses embrace it. I believe, right now people see it as purely an investment opportunity or a way to purchase things anonymously. Bitcoin was the first and most popular. Litecoin was exciting for second one. Ethereum seems to happen most potential. I like the idea of smart contracts.
Do you currently own any cryptocurrency?
I sold my share of Bitcoin a few years ago, but I’m interested in investing again now that I have a more steady revenue stream.
Do you believe that traditional economic principles extend to the cryptosphere?
How will these things ultimately effect our economy?
If fully embraced, its biggest impact will be felt by the financial sector, where corporations and governments have consolidated the most amount of power. It allows people to control who has access over their financial information and private information.
Seeing where things were in 2013 compared to now, what are your predictions for the future of blockchain technology & bitcoin moving forward?
I believe that we will begin to see the blockchain become normalized within the next 10 or 15 years. There’s just a tremendous amount of utility in it. One industry that I could see a lot of growth in, is artificial reproductive technologies. These technologies are in high demand, but tightly regulated. I can see the technology being used by musicians as a way to sell their music directly to their listeners, too.