DLT Helps Me to Find New Solutions to Problems I Couldn’t Solve – Mark Vernon, Founder at Tagcash
“Creating use cases for permissioned blockchains is the most important achievement in my crypto industry career,” says Mark Vernon, the Founder and Business Owner at Tagcash.
Answering our rapid-fire questions, the expert talked about his entrance to crypto industry, the start of his company, and future plans.
Interviewer: Blockchain & Bitcoin Conference Philippines (BCP).
Speaker: Mark Vernon, the Founder and Business Owner at Tagcash (MV).
BCP: What did you do before you learned about crypto industry and how did it happen?
MV: I have been sailing around the world for six years and when I came to the Philippines, I set up an incubator. I had an idea involving payment of small monetary rewards for sharing content via social media. For this, I wanted to use e-Wallet cash from the telcos, but no API existed to do so.
I could have used closed loop points, but I wanted something with value, so, my research and discovery of Bitcoin has started. In early 2012, I bought a lot of BTCs in advance, and when price was rising, I bought a lot more again.
BCP: Why did you decide that this field would become profitable in the future?
MV: I didn't know if it would be profitable. I just liked playing in this new field because it was reminding me the first years of the Internet. As the technology develops, there are opportunities to change existing practices, which may save costs and provide more profit as well.
BCP: How did you come up with the idea to establish Tagcash Ltd?
MV: I wanted to offer reward currencies using a centralised e-Wallet. The ideas have just developed from there.
BCP: What was the most difficult thing when building the company?
MV: Developing traction and persuading Filipinos to switch from cash to digital cash.
BCP: Which challenges did you face during the work at Tagcash Ltd?
MV: Government regulation mainly.
BCP: Which achievement do you consider the most important in your crypto industry career?
MV: Creating use cases for permissioned blockchains and getting EMI license to issue fiat on permissioned blockchain.
BCP: How have crypto technologies changed your view of the business?
MV: They allow me to find and apply solutions to problems that I could not solve before.
BCP: Share your plans for the future, please.
MV: More use cases for permissioned blockchains, involving information storage and tracking.
Mark Vernon will be a speaker at the Blockchain & Bitcoin Conference Philippines, where he will deliver a presentation about DLT use cases with MultiChain and Stellar.
Learn more about permissioned blockchain from the expert at the conference!