Still, it is always interesting to hear the thoughts of experts on the new developments and progression of crypto, and today we had the chance to hear the opinions and ideas of Felix Mago, the co-founder of Futerio, Dash NEXT, and Dash Thailand.
Blockster: Could you tell us about your experience in crypto and blockchain? How long have you been a part of the industry?
Felix Mago: It feels like forever at this point, but in reality, I have only been a member of the crypto industry since 2014. I remember wanting to buy bitcoin because several of my friends were talking about it during some discussions around Christmas time back then. Things were a lot more difficult at the time, with no easy way to buy, no exchanges, no buying with a credit card, etc.
So, I started writing a book about how to do it. It was written in German and called the “Bitcoin Handbook.” That was kind of my learning experience about entering the crypto industry. Since then, I started many projects, like the consulting company called Futerio. We have also been involved with Dash.
Blockster: What has been your experience with Dash so far?
Felix Mago: We worked on two projects involving Dash: Dash Thailand and Dash NEXT. Dash NEXT, for example, is also based here in Thailand, but we are developing it on a global scale. We are entering partnerships on all verticals of the payment industry, be it retail, gaming, gambling, or more.
Blockster: What are your thoughts on the current crypto use cases?
Felix Mago: The space has been moving forward at a rapid speed, and it has been entering different industries. The most compelling use cases right now are still in the financial industry, naturally. We also saw a big rise in blockchain gaming in 2021, with a number of other industries following.
Blockster: What is the value that your payment system brings to the crypto market?
Felix Mago: Dash has many advantages over both traditional payments and other cryptos. It is cheap, secure, 100% decentralized, fast.
It is not so easy to conduct payments, and that is why the process is usually so expensive and slow — because it is complicated. With cryptocurrencies, there are many different options, but the biggest ones, like bitcoin and ether, are usually not good for payments.
Their fees are high, transaction confirmations are very slow, and there are many other problems. And, since they are not good for payments, this is where Dash comes in.
Blockster: What are your thoughts on the NFT hype?
Felix Mago: Even though it seems like a lot, I think that all the hype so far is just the beginning, and as always in crypto, it takes a while to discover all the new use cases involving this new sector. People need to find out what they can do with NFTs, you know? Now, even gaming companies are using NFTs as gaming objects, allowing gamers to play games and trade in-game items on secondary markets. Not only that, but people now have the option to play games and earn income through the crypto industry. NFTs are creating a new job market, and millions are entering it.
Blockster: What are your thoughts on crypto adoption?
Felix Mago: If you look at the top 100 list of the most expensive companies in the world, crypto is still far from these firms. However, I don’t think this will be the case forever. A lot of companies have already earned small fortunes on dealing with crypto. Crypto firms themselves are doing extremely well — for example, major exchanges.
So, my thoughts about this are — if you have a good business idea in mind and you are doing good business, earning money, you will also become an important, popular company.