iLIFTTV: Jeff McDonald, NEM & LuxTag. Internet of Money & Millennial investors
Jeff McDonald is the co-founder of Nem foundation. He thinks in four more years we can see elections on the blockchain.
"We have DeFi on Nem, which I think is a huge win-win," says McDonald. "We're still waiting for blockchain to create something that's never been done, but we need PayPal to accept cryptocurrencies. There's a lot of projects that don't have a high market cap, liquidity, they need money, but the problem is they don't have a real product. I'm working on doing exactly that combining blockchain with news reputation, that reporters and writers of real articles can get rewards and build up their reputation. And NEM is launching its 2.0 blockchain," he adds.
When it comes to having a unicorn founder, we live in a world of Twitter where your product is only half of what you are. Anybody who is going to be a founder of a new startup should probably look at Elon Musk is Twitter and see, because he's made a real product. For better or for worse, Justin Tron is really good at that in the blockchain world.
"I followed Warren Buffett's advice was basically live like you are a student. If you're doing a long-term retirement type investment, there's just no doubt in my mind, put it in crypto. I mean, if you're a true believer in a cryptocurrency, Bitcoin or Ethereum or coins, like Nem, then you believe that it's a fundamentally better way of thinking about money, having money, and spending money. There's a big mistake when people are having a successful investment and then they immediately take that money and they buy a new phone or a new car or upgrade their apartment, " says McDonald.
"The COVID pandemic has been in some ways great for de-centralization. I firmly believe that some of this vaccine technology will be used, maybe not malaria, maybe HIV," he adds. Brittany Kaiser from the Great Hack is working really hard to allow people to have their own information right now.
Deep fakes are just going to make it even more difficult and real for fake news to be created. Even with deep fakes coming, there has to be some way in the future to kind of regulate news. The next 15 years are going to be very exciting for robotics and for the future of the economy. Can you think, are there people that are going to pay a lot of money to become smarter?