What started out as a near catastrophic event in the fintech world turned out to be one of the most pivotal moments in Ronny’s life. One that would serve as a catalyst in achieving his grand vision that benefits the world. Here’s the third part of our exclusive interview. #MondaysWithRonny
Previously on the life story of Ronny Tome.
And we wanted to create some very,
very special villas that we were then to sell
to individual investors and to manage.
Just roughly after about one week, I got the first interested buyer,
and I offered it to him for $750,000
which resulted in a total price of 963 Bitcoins.
HIS STORY CONTINUES
Only a couple of weeks later, because then,
the manager of the website, of BitPremier
was obviously very interested in reporting and using this deal for advertising his platform
basically found out that this was the biggest Bitcoin transaction at that time
BIGGEST BITCOIN TRANSACTION RECORD
and it was the first actual sale of any property worldwide.
And it set the world record of the highest transaction in Bitcoin
for real estate for over 18 months.
So that was my entry into Bitcoin
and a lot of things changed after that because,
we didn’t know what to do with the Bitcoin first,
because there was no chance of exchanging it into fiat currency.
The Bitcoin exchange in Indonesia had just opened,
but there was a maximum of daily transaction
of just over $2000 so that didn’t really help us.
So we decided that we’re going to keep the Bitcoin for a while
and see what happens.
What then happened wasn’t so much fun because,
the Mt Gox Exchange in Japan, which at that time was
the biggest crypto exchange in the world, got hacked
and the Bitcoin price crashed from just over $750 down to $200
so basically overnight we lost two-third of our money.
And my partners as well as my staffs got very anxious and started to panic,
because we were still in construction for the remaining villas
and we obviously needed the money.
We then decided that we will find the money differently
and we will leave the Bitcoins,
because I convinced them that,
I believe that the Bitcoin price will be going up again.
The Bitcoin industry then became a bit quiet and stagnant for a while
the price didn’t really change much over the years 2014 and 2015.
Only by May 2016, we then saw that the price was rising
and the hype for cryptocurrency globally started.
There were a lot of new people getting involved;
there were a lot of talks and the price went up pretty quickly.
By November 2016, I was meeting with some friends here in Singapore in this very apartment,
and we were discussing the issues that Bitcoin was having because
number one, the transaction time got slower and slower,
number two, the transaction fees started to increase.
So we started to joke and to talk and said,
well, you know, why don’t we do our own?
And then started to seriously think about it
and that was the start of Ducatus.
At that time, the cryptocurrency market had already evolved;
there were hundreds of cryptocurrencies on the market,
where Bitcoin was still the dominant one but there were a lot of smaller ones,
and new ones were coming all the time.
So it wasn’t that strange for us to think that maybe we can do it ourselves;
we had a lot of experience by then and which we found out,
the buyer of my villa was one of the first people on the planet
being involved in cryptocurrencies and in Bitcoin
and actually was in touch with Satoshi Nakamoto already from early 2009;
and an expert in the field of cryptography and programming.
So, I decided to contact Dustin Trammell, who by that time was already a friend,
but he was the original buyer
and we decided that we are going ahead;
we are building our own blockchain
we are building our own coin and we will call it Ducatus.
The Grand Vision Takes Shape
So in early 2017, in January, we officially started
the development of our Ducatus blockchain.
So, all the coins were mined, the network marketing was set up
and was launched on the 21st of March in Dubai.
Ronny Tome is the CEO of Ducatus Global. Ducatus Global Pte Ltd is a Singapore-based company that is the administrative heart of the Group worldwide. Our globally distributed management team provides management and professional support for the whole Group. Centurion Global Limited, based in the Cayman Islands, is responsible for the production and global distribution of the coins through the Ducatus network. Additional group of companies in Dubai and Singapore are responsible for charity projects, education and training, e-commerce, franchise cafés, health, travel and property. For more information, visit https://ducatus.net
The post The Grand Vision – Life Story of Ducatus CEO Ronny Tome (Part 3) appeared first on Digital Economy Journal.