Carlsbad entrepreneur using blockchain to change future

CARLSBAD — Blockchain and cryptocurrency are the way of the future.

That’s how Carlsbad’s Thomas Carter sees the opportunity for these technologies to redefine the digital landscape, investing and personal finance. In short — cut out the middleman.

Carter started Dealbox several years ago as a way to incorporate blockchain technology to build a safe and secure investing platform. And he’s landed several million dollars in capital investment to launch the technology.

“We’re the first digital securities issuance platform,” Carter said. “It will ultimately transform the value of the markets.”

Blockchain is a record-keeping technology using a digital signature (instead of a name) and stores information in “blocks” which are then strung together. By using this technology, Carter said it increases efficiency and transparency for digital transactions.

Carter also launched Digital Names which delivers an easy way for a blockchain to recognize the user. For example, one name could be $JonDoe, and the over the top (OTT) network integrates with any digital wallet, blockchain or cryptocurrency.

He compared it to buying an item on Amazon, but his platform is for securities (a tradeable financial asset such as stocks and bonds). The securities are tradeable any time and Carter automated all the financial disclosure documents processes.

“I’m just eliminating all the friction and programming it in an easier way to do it,” he said. “I want to liberate entrepreneurs. I’ve learned a lot about the dark side of banking … and bankers just do what they do. They don’t care if the stock goes up or down because they make money.”

In essence, Dealbox helps remove the shady side of investing, Carter explained, although it’s still in its infancy.

Another potential use, one Carter says will really transform security, by putting a smartphone’s MEID number on a blockchain. It adds a third authentication factor to phone security.

“The telco (telecommunications) industry has a lot of fraud because it only has a two-factor authentication,” he said. “Now I’ve created a third factor. Basically, I’m going to become the rails for all security and all future blockchain applications for telco devices. We can connect all the blockchains to our technology.”

During a TED Talk, Roop Singh, who sits on the board of directors for Dealbox, said digital assets, such as blockchain technology, are changing the future of value. Both Singh and Carter believe the tokenization of assets protects their value and allows for peer-to-peer processing and ensure safety.

With the COVID-19 pandemic, Singh said blockchain can take advantage of supply chain disruptions and streamline the infrastructure, along with “major” volatility with global currencies. He noted elections, pandemic turmoil, the U.S. and China relationship along with border clashes between China and India.

“It has brought up a need for a stable digital currency,” Singh said. “I think we are going to have that in the near future. A lot of countries are working through their banks, a stable digital currency.”