Paul Mampilly, a former hedge fund manager, has a huge subscriber basis for his newsletter Profits Unlimited. He has recently written about the burgeoning blockchain technology. He says that this part of the economy will rewrite how finance, governance, and even everyday life work. He first read up about blockchain back in 2011 when he was looking at the Mt. Gox website. He didn’t buy any bitcoin through this exchange but he did learn everything he could about blockchain and the cryptocurrencies based on it like bitcoin and ethereum.
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Blockchain allows people a way to anonymously exchange money with others through a distributed network of independent nodes. The blockchain creates a record that can’t be changed so manipulating this data is exceedingly difficult to do. Paul Mampilly has written that hacking is quite improbable and the only way to do so is to have a computer that would exceed the power of 50% of the nodes that are being used in a transaction. It’s possible a supercomputer could overwhelm a blockchain but that is not something that hackers have access to.
Looking further into blockchain technology since, Paul Mampilly says that it can be used for many things other than cryptocurrency. He says that it can be used in business for government services, scientific research, and more. He says it can be used for identity verification in place of other methods like driver’s licenses. He says that it could also reduce corruption by preventing federal grants from going to local officials than where they are supposed to go.
Paul Mampilly has also been writing about Trump’s trade war of late. He says that several popular stocks are due to go very negative because of this trade war, such as companies like Starbucks, General Motors, and Boeing. The trade war is against several countries but China tops the list. China has said they will retaliate and could place tariffs up to 45% on products that these companies produce and sell in China. The products these companies produce will also go up in the US because they have to pay much more for steel and aluminum which will also dent profits.
For details: interview.net/paul-mampilly/