Carl Munsayac is a the CEO of Altswitch, a blockchain-based company building products with an ecosystem of decentralized apps and services. Besides that he is also a co-owner of a local LPG distribution company.
Carl’s expertise and hard work in finance earned him the top spot at Dubai’s Future Innovation Summit 2022 Startup Olympics, where he represented Altswitch and showcased their revolutionary wallet infrastructure for enterprises.
💼 What were you doing before Web3?
Before I got into Web3, I had a long career in many different fields. I started out as the head of purchasing and the corporate secretary for our family-owned construction company.
In these roles, I learned a lot about how to run a business, negotiate deals, and deal with different stakeholders. Then I went into finance and got a license to be a financial advisor, where I helped clients reach their financial goals by making the right investments.
Along the way, I also started investing, which helped me learn more about how extensive the financial world is.
🤔 How did you get into Web3?
My interest in Web3 began as a financial advisor when my secretary introduced me to trading on a decentralized exchange. I was amazed by how fast the trades happened.
However, I was initially unaware of what I was trading and ended up losing some of my investments. Frustrated, I decided to learn more about blockchain explorer and smart contracts.
It was then that I realized the potential of Web3 and the revolutionary impact it could have on the financial industry. This curiosity led me to dive deeper into Web3.
This curiosity eventually led me to become involved in creating Altswitch, a blockchain-based company, where I could apply my knowledge and experience to help build a more secure, decentralized, and transparent financial system.
🚀 What was your first crypto or NFT project?
When it comes to my first crypto investment, I honestly can’t recall the name anymore as I explored several coins during my deep dive into Web3.
However, I had a notable experience investing in a project when it was still at a 300 thousand marketcap and experienced it fly all the way to a 160 million marketcap.
That was definitely a breakthrough moment for me. And from the capital I gained I started my own project, that would be Altswitch, the blockchain-based company that I co-founded with my partner.
🧠 How would you explain what you do to someone outside of Web3?
Do you remember how frustrating it was to send and receive payments from another country, with all the hassle and complexity involved?
Imagine how much harder that makes it to grow a business and reach customers abroad. Our company solves that problem by providing a user-friendly wallet infrastructure that allows businesses to take advantage of blockchain benefits.
It is like a secure and fast cross-border transactions, without any of the technical complexity. We help businesses manage their digital assets with ease, so they can focus on growing and expanding their operations.
💡 Which creator or thought leader do you enjoy learning from?
I enjoyed learning from Robert Kiyosaki because he was my turning point in validating that I made the right decision on pursuing entrepreneurship, which led me to where I am now.
One of his famous quotes that has stuck with me is, “The only way to change your life is to take action. The biggest mistake you can make is doing nothing.”
This quote is a reminder to me that taking action, even imperfect action, is better than doing nothing at all. And that it is through action that we create change in our lives.
The quote is from Kiyosaki’s book, Rich Dad Poor Dad, which is a personal finance classic and a great starting point for anyone looking to gain a better understanding of financial education and literacy.
🥳 What is the biggest highlight of your career so far?
One of the biggest highlights of my career so far is being able to bring together a team of diverse and talented individuals who shared a common vision.
Together, we were able to create Altswitch, a project that aims to solve real-world problems and create opportunities for others.
The ultimate win was when we were awarded the Startup Olympics at the 2022 Future Innovation Summit in Dubai, which was a testament to our hard work and dedication.
📈 What tech or crypto trend are you watching this year?
As we move forward to the future, I am keeping an eye on some of the most exciting tech and crypto trends.
Firstly, the rise of Artificial Intelligence is certainly one of the most interesting things to watch out for.
Secondly, the continuing developments in blockchain technology and its security is also an area that I’m keeping an eye on.
And lastly, the emerging trend of decentralized finance (DeFi) and the growth of wallet infrastructure for enterprises is something that has the potential to change the game in the world of business.
This, I believe, is one of the catalysts for mass adoption when businesses start accepting crypto as a form of payment. And this will embody how we call cryptocurrency as a currency and not just a form of investment.
🤝 What advice would you give someone starting out in Web3?
If you’re just starting out in the world of Web3, my advice is simple. Don’t be afraid to make mistakes.
Just like the famous quote from Robert Kiyosaki’s book, “In school, we learn that mistakes are bad, and we are punished for making them. Yet, if you look at the way humans are designed to learn, we learn by making mistakes. We learn to walk by falling down. If we never fell down, we would never walk.”
Learn from your mistakes, gain experience and grow. Additionally, understand the importance of risk management, carefully evaluate your options, and find the balance between risk and reward.
Finally, do what you are good at and you will find your niche in Web3. Remember, the Web3 ecosystem is constantly evolving, so stay up-to-date with new trends and developments, and don’t be afraid to embrace change.
🎤 If you could do a TEDtalk on any topic, what would it be?
Blockchain’s Time to Shine: How Enterprise Adoption Will Drive the Next Wave of Innovation would be a great topic to talk about.
🚨 What is the one thing you would bring if you were stuck on a deserted Island?
Companion. If I were stuck on a deserted island, the silly answer would be to bring Doraemon, the robotic cat from the Japanese anime series, as he could pull out almost anything I need to survive.
However, on a more serious note, I would bring a companion. Having someone else with me would allow us to brainstorm ideas and work together on figuring out how to survive. We could split up the work and be more efficient as a team.
Not only that, but having a partner would provide companionship and make a challenging situation more bearable. Plus, if we were able to survive and thrive on the island, having a companion of the opposite gender would give us the possibility of reproducing and growing our tribe.
Ultimately, having someone to share the experience with and to work together with would greatly increase our chances of survival and make the experience more rewarding.
Even if I were to bring the nicest things with me to a deserted island, everything that I could build or create would eventually crumble and fade away with time.
If I don’t have a companion, I wouldn’t be able to reproduce and pass down my knowledge, experience, and values to the next generation.
In that sense, bringing a companion is not just about surviving, but also about the possibility of leaving a legacy that could last beyond my lifetime.
POW stands for “Proof of Work.” It is a new feature article series in The Mega Maxi to highlight the savviest builders in the Web3 space.