Data stored on the internet is so rampant nowadays that if you’re not careful to check Google or do a dark web scan, you might not even realize how much of your own data is out there. But what if something could be done to prevent your data from being stolen and even eliminate the need for IDs? Blockchain could be one way to do it says Paul Mampilly, an independent investor and editor at Banyan Hill. What he sees happening is data being taken from implanted semiconductor chips that is used in the blockchain, but it cannot be altered or stolen by criminals. It would be real time live data updated across the whole internet that could verify who a person is without needing to sift through other photo IDs or verification documents, and as Mampilly noted this would mean less waiting time in lines at various locations. Even if using a chip implant to do this did mean a sacrifice of privacy, he said he’d be willing to do it.
Mampilly has been following blockchain technology for several years now, and it’s a development that began when the first Bitcoin was created in 2007. The idea behind the technology was to create a decentralized system through which cryptocurrency tokens could be transferred between users without needing a centralized server or middleman. The information on one ledger block is updated throughout all the other blocks, and using the right encryption keys and a series of algorithms, the transaction is completed. Mampilly noted earlier this year that cryptocurrency was bought up rapidly on the market and ended up becoming priced too high, and at the moment he doesn’t see it as a good investment. He does believe it will work out in the future, and in the meantime he is also recommending looking into semiconductor manufacturer ETFs which could be putting out the chips using blockchain technology.
Paul Mampilly is a former investment bank advisor and portfolio manager who was very successful at every big firm he worked for on Wall Street, but he never truly liked being a part of the culture there. His educational background has been quite remarkable with both a bachelor’s and master’s degree in accounting and finance, and he worked with reputable managers at Deutsche Bank, Banker’s Trust and ING, and he made investment decisions for multi-million dollar investor portfolios. Several years later he was tasked with managing $6 billion in institutional investments and large fortune 500 firms assets as a managing director at Kinetics International Fund. Mampilly was named in Barron’s magazine as a savvy advisor at a hedge fund that was bringing in investors over 26℅ in annual returns, and it became the fastest growing hedge fund after the $6 billion in AUM more than quadrupled to $25 billion. He also won an award for investing $50 million in safe stocks during the 2008 recession and turning that amount into $88 million.
What drove Mampilly to retire from his position in banking and hedge fund management was having to spend long hours in the office, and feeling as though the only people he was helping were the top 1℅. Becoming an independent writer and editor at Banyan Hill gave him the opportunity to impart knowledge that could empower the folks on Main Street in building a future in wealth for themselves that wasn’t dependent on paying fees to brokers only interested in earning commissions. His investment information is quite simple to grasp, and he often provides videos with looks into his portfolio. Mampilly’s newsletters can be found by going to www.BanyanHill.com.
