A Promise of a Better Tomorrow by Jamil Hasan, AssetToken advisor.

In summer 2017, I created my own consulting company in Blockchain and Crypto as an author, facilitator and coach. One of the first things I did was fly to Las Vegas and spend 48 hours with one of the “original architects” of the Bitcoin Blockchain, so he claimed, and the supposed former CEO of a major Bitcoin company. He walked me through everything he knew over a chicken and waffles lunch on Fremont Street and prime steak dinner at the Hotel D, and explained to me all the potential applications he built for the Bitcoin Blockchain. Interestingly enough, a few months later, similar versions of all twentysomething apps he created over the last several years were rolled out by Bank of America.

I felt it was time well spent for the educational experience. I spent the next four months in the Bitcoin ecosystem and had the opportunity to watch interesting videos including Skyway Capital’s monorail advertisement and one of the first Ripple videos.

What I found absolutely fascinating about the Ripple video was that what was presented as facts about Bitcoin were in direct contrast to everything I had learned from my teacher in Vegas, read about in the Satoshi Nakamoto white paper, or read through posts and multitudes of articles on LinkedIn. I recognized what I felt were six inaccuracies in the first twenty seconds of the video, but I didn’t question it publicly because the price was about 9 cents and it was being sold in Southeast Asia. I was boggled by the geographic placement of Ripple because Southeast Asia was probably the least impacted area of the world due to the 2008-2009 financial crisis that spawned the birth of Bitcoin and open sourced technology.

Over the next few months I was deeply entrenched in the Bitcoin ecosystem. I had the opportunity to be on a Bitcoin podcast led by Alysia Silberg with some folks discussing Jamie Dimon calling it a fraud. I wrote articles and my first internationally best selling chapter book. But I didn’t make much money, or any money at all. It wasn’t until I started to get connected into the Ethereum Network that things stabilized for me. I recognized the amazing intellectual capital within the Ethereum community and felt my purpose, goals and values were aligned with these brilliant people.

I was soon-after approached by the Asset Token team to join them as they had an amazing platform and an API that would make a difference for both banks and consumers. The amazing promise of Asset Token is twofold: it helps banks and it also creates social impact for people. Asset Token helps banks by trading unused, stale credit card reward point liabilities off their balance sheet, supported by the Asset Token API, which allows them to focus on growth and better margins. Asset Token then enables consumers to have crypto based rewards points that increase in value over time. With widely adopted usage, consumers could pay off credit cards sooner and get out of the financial hamster wheel, create equity, and either save more or buy things they have not been able to afford before.

The core team of Asset Token and I spent several months speaking with potential custodians, including banks, without success. Everyone was interested, but we had no early adopters. Meanwhile, Ripple was gaining increased adoption. Banks noticed that Ripple serves them, without being an open sourced Cryptocurrency. As more and more average people held Ripple, and traded in their inherent freedoms promised by Bitcoin and Ethereum, they were actually unknowingly trading in their possibility for democracy, equity and a better life.

Like sheep flocking to a shepherd, people who don’t understand the purpose of open sourced blockchains based on the commodities of data and cryptographic security, and are simply looking to make short term monetary gains, and looking for price increases in cryptocurrencies, seem to be attracted to instant gratification. In the meantime, by investing in a closed sourced Cryptocurrency, people are sacrificing opportunities promised by open sourced inventions.

Meanwhile, banks have not openly adopted open sourced platforms and APIs. And, while they have gained in the short term, their financial liabilities continue to grow. And the consumer financial hamster wheel gets rounder and larger. And people continue to suffer – as evidenced by my friend’s experience just this week.

Frankie is my friend in Brooklyn. We were speaking on the phone while he was stopped at a red traffic light at a busy intersection. A mother and her two children, ages four and one, were waiting for the light to change so they could cross the street. Out of nowhere, a middle aged driver who was suffering from a medical condition fell victim to her ailment, ran the light, and plowed down the family. I can’t accurately explain the shrieking cry I heard on the phone that day. I can only question where that family would be today, had the impaired driver not been behind the wheel – a reasonable question based upon the decision making, medical and health situations we all struggle with in today’s economic climate where costs of living have increased and middle class economic wealth has drastically declined.

While innocent people – those who have never been educated about the promises of open sourced technology – continue to live in despair, suffer or die, smooth talking charlatans make money hand over fist on the backs of their ignorance.

Asset Token is the only rewards points engine that helps both banks and people – people who deserve the benefits of a better life.


If you would like to have your company featured in the Irish Tech News Business Showcase, get in contact with us at [email protected] or on Twitter: @SimonCocking

Pin It on Pinterest

Share This