InterviewFintech Interview with the Founder and CEO, Candela Coin – Avi Shane Verdugo

FTB News Desk FTB News DeskSeptember 15, 202112 min

Avi Shane Verdugo from Candela Coin talks about the future of cryptocurrency payments and the future of Fintech.

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Avi Shane Verdugo , Founder and CEO, Candela Coin

Avi Shane Verdugo is the CEO and founder of Candela Coin. He is a serial entrepreneur with over 6 years of startup experience. He is passionate about fintech and solar energy.

1. Tell us about your role in Candela Coin?
I am the CEO and Founder of Candela Coin. My job is to create and develop partnerships. That could be partnerships with other crypto or blockchain companies, exchanges, influencers, manufacturers, distributors, etc. I also oversee the development of our project. I actively monitor our development and marketing teams. I also monitor the manufacturers and distributors of our tangible products such as solar panels and IoT devices.

2. Can you tell us about your journey into this market?
I wasn’t always bullish on crypto. In fact, I was told about bitcoin in 2009 and did not buy (big mistake). I have since done a complete 180. I started investing in altcoins in 2017. I realized after some time that I wanted to create my own token. Finally in August 2020 I put a team together and we launched Candela Coin.

3. How do you think technology is developing the Finance Sector?
I think trustless payment systems are the future. I also believe that people have gotten tired of centralized payment services such as western union. Remittances will soon fully be paid via cryptocurrency.

4. How has introduction of AI redefined financial industry?

AI has dramatically reduced fraud in the financial industry. The algorithms have been great at detecting fraudulent transactions.

5. How has introduction of blockchain and cryptocurrency impacted financial sector?
Blockchain and cryptocurrency has turned the financial sector on its head. People can now be in charge of their own money rather than having to rely on centralized banking institutions

6. How do you define your P2P trading software?
Our P2P solar energy marketplace software as a solar energy marketplace, which aggregates bid and ask prices set by the users.
As for the technical side Candela has developed an IoT device/smart meter that functions as a distributed computing node and an asset control switch. This device permits the designation of certain kWh units of locally produced energy to be marked and offered for consumption by adjacent local participants using the same component. The transaction is “cleared” within this system between the meters through machine-to-machine management and the app/web interface management of distributed ledger entries.

7. What features of your software differentiates it in the market?
In addition to a marketplace, it records and managers your in/out solar loads and can assist with net metering. It’s a consolidated all in one solution.

8. What are your predictions about the future of crypto based fintech industry?
Crypto will soon become ubiquitous in fintech and everyday life.

9. What advice would you like to give to the Startups?
You must always keep pushing and engage with your community and customers. You are nothing without them. Don’t make it feel like a business transaction. Make your community or customers feel like they are part of the company, because they are!

10. Which Startup technology has grabbed your attention?
A new cryptocurrency called L1ght L1st has been gaining some traction. Their unique startup fundraising platform is like nothing i have ever seen.

11. How do you prepare for a Technology-centric world?
Learning and doing is key. You must stay up to date on all the new developments.

12. What are the major developments you are planning, in recent time?
We are building our solar microgrid in Australia and adding more functionality to our mobile app.

13. Which Book are you reading these days?
I am reading Bitcoin Billionaires by Ben Mezrich

14. Can you give us a glance of the applications you use on your phone?
I use the Trustwallet cryptocurrency app

FTB News Desk

FTB News Desk

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