Note: This is a migrated article. The original date of publication of this article is on May 17, 2015.
Cryptocoin, torrent protocol, virtual property exchange – I give you Astrobit, an Escrow service that integrates all of these within the cloud and fog networks. I had the chance to speak with its CEO, Glenn Wagner, to share more on this refreshing venture.
Jay-R Gatdula: Good day, Glenn. I would like you do a quick interview with you about, of course, your journey in the crypto world. Can you tell me what got you in the cryptocurrency business?
Glenn Wagner: Hi, Jay-R. I originally knew and tried the original Bitcoin from knowledge of the p2p group and when the news article that was put out in January of 2009 was posted, I tested the Bitcoin protocol out just running mock versions to see how useful it could be. For the time being, it was pretty useless (even though it had high potential). I was essentially wasting money with power mining some coins and getting nothing in return, bare in mind that at the time, my thought process was justifiable, as no one was actually using anything related to the blockchain, and it took almost 16 months to get 250 transactions per day, so in the mean time, I just let it be. It had no value, and I knew it would be a long time before it could become of use.
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In fall of 2011, I came across Bitcoin again on accident as I had not kept up with everything due to other reasons. It popped up in alternative currencies to invest in low, and behold, there was an exchange. It had some value that-be-it small but much greater than it was in 2009. In the next few years, I researched and analyzed potential uses for Bitcoin, but everything lead to the fact that it needed to get 500,000 different people making their own transactions in order for it to be permanently substantial ,otherwise it can flop over and be a bubble. Only recently did the Bitcoin blockchain tech even get to this point, and that is 6 years and 5 months from its initial release.
All in all, blockchain tech is a ground-set for better protocols involved with torrents and how you can be both anonymous and public at the same time. Applications of the blockchain we’ll see within the next few years are:
JG: Interesting. What can you say are the challenges you’ve encountered in launching Astrobit? How about greatest accomplishments?
GW: It took us 8 months to get this venture started. It truly initiated last October (2014). A solid team was set in place with good additions added on in January. Once you have that team that is ready to contribute and take the loads assigned to them, everything starts coming together and functions 100 times more efficiently. The previous failing venture was left to rot last year in August as a result of multiple parties not contributing funds, and not taking part in the start-up process. After that failed, I was obligated to see it through and make it happen knowing everything that went wrong and establish what Astrobit is and why this venture exists today.
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Assembling the right team and building the Astrobit service for the customer can be considered our greatest accomplishment.Cloud and Fog Integrated: there are very few platforms out there right now capable of this. Our platform will enable the ability to bank the poor which is something Bill Gates is investing heavily into *I’m pulling that from his verge video he made back in February.
To be continued…
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