Troy Wong is the CFO & Director of Neptune Dash - A Blockchain Based Company that launched on the Toronto Stock Exchange utilizing the power of Dash Masternodes.
How Neptune Dash Got Started
Troy started in a private equity portfolio company where he spent the first ten years of his career. He then worked as a CFO on Jaxx.io with Charlie Shrem (formerly Bitinstant).
After being involved in Jaxx, Troy got the idea to start a blockchain based company and get it launched as an IPO.
This is where Neptune Dash was born with Cale Moodie and Kalle Radage as his partners.
The goal was to build greyscale companies; large public companies with digital currencies that allows for trading in the public market.
This starts the conversation in regards to using public companies to list and trade cryptocurrencies.
Canada won’t take companies that only hold digital currencies as it is against their policies, but they are allowed to have a company that operates in digital companies, operating a sort of business to take public.
So, that’s where the idea of masternodes came into play.
Ultimately, the goal is to continue moving the digital currency mission forward.
What is a Masternode?
A masternode is similar to a full node, running a p2p protocol that contains all of the ledgers from a specific cryptocurrency.
Although, the difference with a masternode is that the person, entity, or company running the node, receive dividends on every mined block.
Masternodes require a specific amount of a certain cryptocurrency, which for Dash is 1000, that get locked up and help verify transactions.
Masternodes allow for a capital structure of operating a masternode, so 95-98% is digital currency and the other is operating costs, equipment, etc.…
This means that, per Canadian public companies, that it is allowed to be taken public and publicly traded.
Why Did Neptune Choose Dash?
Currently, there is a bit of clutter in the cryptocurrency space.
When the name cryptocurrency comes up, and the top 20 coins show up, there’s something that most people don’t realize.
Most of the coins aren’t currencies. Thus, they are more like crypto or digital assets.
With that being said, Dash is in the top 5 of actual currency coins, that can be used and spent without an afterthought.
These aren’t platform based blockchains, but ones meant to scale to millions.
That’s one of the reasons that Neptune Dash picked Dash as the first currency.
Dash, a currency seemed to make the most sense to be a blockchain that could be pitched and easily understood by other investors.
With Ryan Taylor, a distribution of block war miners, masternodes, the DAO, and so much more DASH becomes something that investors look for in a company.
How Are Investors Investing in Neptune Dash
This is where it gets a bit different.
Neptune Dash helps investors indirectly invest in Dash, by giving capital to purchase masternodes and being shareholders, they get paid out on these dividends.
So essentially it becomes a way of investing in Dash by utilizing a pooled resource to create these masternodes.
The Launch on The Toronto Market
In December, Neptune Dash closed their financing round, making them not a hedge fund investing for their clients, but a public company that has to execute a predefined mandate.
With their debut on the Toronto Market, they took the #2 spot on traded shares with about 16 million shares trading.
There was a lot of hype around a company from the blockchain launching on the market.
Currently, they are trading below IPO price (considering the swift correction the market has seen) but they are valued at a greater price than total assets making them a premium to their nav.
What The Current Plan For Growth Is
While Neptune Dash is currently focused on Dash, there is the possibility of adding more masternode coins in the future.
We can’t say which it would be, but some of the more popular masternodes operating are Smart Cash, Blocknet and a few others.
But there is a lot more when it comes to the plan of growth.
See Dash created masternodes as a fundamental piece for the consensus protocol on the system.
Without collateralizing these tokens and putting on the blockchain, it would fall apart.
They have a productive use to secure the blockchain and execute scaling solutions, which is why Dash scales much more rapidly than most other blockchains.
This scaling of the masternodes - without being hostile similar to bitcoin cash, makes Dash almost the antithesis of the original intention of bitcoin.
Although, they avoided the nasty scaling debate by creating DASH.
I mean Satoshi’s white paper says “Digital Cash” the origin of the name DASH.
Now Dash has a scaling timeline, the nodes (masternodes) are required to upgrade to fairly sophisticated specs to help lower transaction costs, to keep fees low as it scales.
And the ultimate goal (detailed in this article on Dash’s upgrades) is pretty ambitious.
Block size increases may eventually go up to 50 MB at the end, with the scaling of masternodes up to the point of 40 million daily users.
Meaning that this can be a global peer-to-peer form of cash.
Now as the markets took a small hit, post the launch of Neptune Dash, utilizing their capital and executing on what their investors had bought into they began buying up Dash to create masternodes.
This started with purchasing about 1000 dash a day (about $1 million Canadian), but then they started to buy lower and lower amounts.
Namely, this comes from the need to give investors and shareholders what they bought in for.
Looking to the future they will be purchasing a lot more Dash, helping to make the ecosystem richer and power it with these masternodes.
And then, possibly expand, helping other coins from the crypto ecosystem see the stock market.
This company is something that can truly bring awareness to Cryptocurrency in a stock market that typically is anti-digital currency.
Lastly, we asked Troy’s favorite coins besides dash.
Your Favorite Coins besides Dash
Operating a business takes most of the time, so Troy isn’t that involved in reading and researching new coins.
Although, he is optimistic on the Top 20 coins as the main portfolio.
Watch for Neptune Dash and their help with the growth of the entire cryptocurrency ecosystem shortly, as well as a live interview with Troy in the next month.
Thanks for reading,
The GCA Team
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