After PSM, I started to look at cryptocurrency. I developed a patent for a process of tying a token to real estate. As that process patent was evolving, we developed a team and began to code the token mills and create the legal and blockchain contracts validating the token against the real estate. We used 721, 1155, and 1400 series tokens. Our product was a hybrid FinTech / Crypto Currency. We had 2-3 shifts of 5 programmers each shift, and we had a staff of about 10 employees. A lot of my focus was on AML/KYC compliance along with the token development and payment industry. Because we had the capacity to run large amounts of money (and potentially wash it), we had to make sure we exceeded the published regulations. We were working with Polkadot as a blockchain provider and Polymath to manage our investors and token purchasers. As we became more and more tech-savvy, we were able to achieve funding and hit milestones in programming and blockchain testing. Our love for the product and ability to have fun in the work environment provided for us an opportunity to be filmed for a show called Americas Real Deal <https://americasrealdeal.com> in which entrepreneurs staged their product or services. I contributed approximately one million of my own funds to prestart up costs. Our plan was to launch in the US market first. I was preparing for an EU launch by comparing and contrasting the GDPR, AML/KYC regulations with the US regulations in preparation for programming so that we could effectively direct our programmers. We were able to acquire a contract for the production of tokens for VirtualCons <https://virtualcons.com> . The minting quota was set at 1.5 Million. The company VirtualCons had a contract to purchase the home that was a filming set for the show “The Suprano’s”. They were going to create a virtual set inside the home and use the home as a tourist attraction. Upon production, the owner of the home that was the set of The Soprano’s felt that the home was worth more than the negotiated price, and the parties failed to come to terms leaving Quest Crypto with a mill ready to mint tokens that were US and EU compliant. Although the tokens were unminted, we gained significant working experience in GDPR and EU AML/KYC regulations.
At the same time, we acquired a contract with AllNet Resort and Arena in Las Vegas <https://allnetvegas.com> for the production of #600,000,000 tokes that were going to attach to the equity of the real estate. The tokens were to be sold and the funds were to go to assist in the buildout of the project. The tokens could be redeemed later for goods and services at the resort. We had entire tokenomics, reward systems, and pay structures worked out for a large Las Vegas Resort.
The business was growing fast and because people could see the value of tying a token to real property we were actively negotiating a deal with the Caribbean Country of Belize to create an NFT platform for the tokenization of their real property. They have a big issue with the real property records. The employees at the government level were taking bribes to record falsified deeds for the transfer of real property. The approached us and asked if we were able to build out a system and economic structure that would ensure no more fraudulent transfers of real property. We met with the ministers and presented out plans and how a token system representing real property would be implemented and how the government would be able to maintain transparency with recording system.
We were then presented with the opportunity to be cast in a Reality TV show called America’s Real Deal <https://americasrealdeal.com> in which entrepreneurs staged their product or services.
At the height of the launch buildup, the SEC and FTC published regulations on crypto currency: essentially decapitating most startups dealing with cryptocurrency. Although we maintained that our token structure was not a securities, overnight we had lost our funding because investors simply could not understand the nuances of the regulatory standards. During the development we mastered the US and EU cryptocurrency and fintech regulations and payment systems. We took Quest Crypto from inception to production and obtained over Six Hundred Million Dollars worth of contracts.
At this point I have very polished skills in business leadership, investment strategies, and working through regulatory issues.