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How is Blockchain Redefining Real Estate Investing? with Roberto Capodieci
Episode 5815th July 2024 • Truly Passive Income • Truly Passive LLC
00:00:00 00:33:57

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Are you ready to explore how blockchain technology revolutionizes the real estate industry? In this episode, we sit down with blockchain expert Roberto Capodieci to demystify the blockchain and its transformative impact on real estate. From fractional ownership to secure transactions, Roberto breaks down complex concepts into relatable insights. Packed with valuable knowledge and forward-thinking ideas that could reshape your investment strategies, this is an episode you won’t want to miss.

Key takeaways to listen for

  • [2:05] What you need to know about blockchain technology
  • [07:30] How does blockchain enable fractional ownership in real estate?
  • [08:58] Regulatory hurdles and reputational issues blockchain faces, and how they are being addressed
  • [13:12] Real-world uses of blockchain in real estate
  • [24:17] Insights on future blockchain trends in real estate and potential investment opportunities


Resources mentioned in this episode



About Roberto Capodieci

Roberto is a Chief Technology Officer and blockchain evangelist known for his expertise in establishing and implementing a corporate technical vision and strategic direction. He excels in strategic planning, business intelligence, team building, and decentralization. Roberto is committed to cultivating strong stakeholder relationships and driving competitive advantage through proactive collaboration with cross-functional teams. Engaging and collaborative, Roberto is a trusted partner to C-level leadership, identifying opportunities for significant savings and process improvements.



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Transcripts

Roberto Capodieci:

Being so distributed, the blockchain, the only project, will start bottom up. But if somebody doesn't take the lead in organizing it and expose themselves to make it happen, it's difficult these things for happening.

Neil Henderson:

Welcome to truly passive income. I'm Neil Henderson.

Clint Harris:

And I'm Clint Harris.

Neil Henderson:

Our guest today is Roberto Capodieci. He's a chief technology officer and blockchain evangelist.

We're going to talk to him about the basics of blockchain and how he sees it affecting the real estate industry. So Roberto, first question. I would describe myself not as a blockchain skeptic, im a believer in the blockchain.

Im a little bit more of a cryptocurrency skeptic, but I want you to explain the blockchain to me like IM 15 and for five, for clients seven or eight.

Clint Harris:

Yeah.

Roberto Capodieci:

Okay. So first of all, thank you for having me. Your show, its a pleasure to be here.

Thank you also for making a distinction between cryptocurrency and blockchain. Blockchain is a technology that enables cryptocurrency to exist, but can do many other things. And there is a separation between these two things.

Unfortunately, by reputation, blockchain is very much associated with cryptocurrency, but that's not really always the case. Second thing, yes.

Explaining blockchain and the basic principle as if you were 15 is good because I have a son that is 16, my daughter is 14 and one that is three years old in case we go to difficult parts. Okay, so I am training this kind of explanation.

So without going technical, but let's just bring a little example of why blockchain is powerful and is going to be empowered us in a lot of very good things. Also in real estate, in particular cases in real estate that are very interesting.

If you think we moved into the information age, information year after the industrial one, right? And information has been something that moved from analog to digital.

So from the vinyl disk to the cd, from VHS tapes to what we're doing now, that is video streaming, right.

The biggest limitation of digital things were the fact that you can copy and paste and the copy is identical in terms of bits and bytes, one and zero, identical to the original. You have no means to say which was the original, which is not because they are identical.

And this has a lot of advantages, obviously for quality, maintaining a few things. We're making ten copies of a music cassette. After it goes in ten hand is deteriorated so much that the music institute was not even concerned about.

But what we needed was the possibility to have a singularity, have a unicity of something that is digital. Okay. This would allow and empower a lot of things. And if you think about it, making an example with cryptocurrency.

But I'm going to then shift this example to better real life example. If I give you my bitcoin, I don't have it anymore. I cannot copy and paste my bitcoin and give it to you.

And this is something that people give for granted. But this is something quite important and magic into the concept of a blockchain so much that it is a silly monkey design.

People start selling for millions of dollars, for whatever reason. I don't go deeper in that direction.

But the beauty of it was the fact that you can own something digital and you can show ownership, can resell it to somebody else, so you can move this object that is intangible in the physical world.

And there are millions of interesting applications in this, because if you think there is a lot of digital artists that make digital art and they want to sell the original piece, right? How can you do this if you're a digital artist, right? And these are two things. Empower it.

Furthermore, between the ingredients that make the recipe of blockchain, there is a cryptography. Cryptography is a science of mathematics that is used to do several things, encrypt or hide the messages, but also to do cryptographic signature.

I don't say digital signature because people think about digital signature when they sign in the small quartz display at the restaurant. That's a way to collect the hand signature in a digital manner.

What I mean is mathematical operation, very similar to what you do with a bank with one time P and LTP. And this is a high level of security in terms that cannot be counterfeited, like a hand signature.

So you have digital identity, digital signature, digital assets that can be moved between people, between a digital identity and another. So I let your brain run now in understanding why this is powerful. Because I can be digital. I can multiply things so many times.

I give you an example that is not related to real estate, but it makes you understand race horses can be very expensive. You can spend a million dollars on a resource, right? Because the ownership of resource can be shared between people.

Almost nowhere more than ten people can be owner of one single resource, because the paperwork will be too difficult to handle and to manage, you know? But digitally, you can have a thousand people owning each person a small piece of horse, right?

Because it's easily managed with something that is cryptographically secure and shifting to real estate. Obviously, the first use case that has been also transforming legislation like in Germany and other countries legal to do so.

You can assetize episode real estate before it's built, after is built.

So you can have a villa that is going to be rented and managed, and you can own $100 of this villa and you're going to have a return that is the correct proportion with the amount that you own. So can you imagine?

Now, the game of real estate is for people that can move a certain amount of money because they have a good trust in the bank or because they have on their own. But the bomb on the road that they just collected $10 in a day will never imagine to invest in real estate. Right.

In a way that is supported by blockchain. That's possible as soon as he has a small cell phone to buy a small token, there is a piece of real estate. Okay, I close here.

My explanation, I hope the 15 years old, you understood it.

Neil Henderson:

Yeah, and I think the five year old did. Toot.

All right, so it sounds to me the biggest challenge for blockchain coming into these industries is more regulatory than it is regulatory and legislative than it is technologically. It sounds like almost no problem, no problem to do it.

Roberto Capodieci:

I will say also reputational, because a lot of scam in the world of cryptocurrency and then people, you know, don't want to associate because they seem, they're afraid. So legislative. Absolutely. That's for most of the things.

Even if I invent a car in my garage, I needed to be able to drive it on the road by law and by reputation, which is another aspect that unfortunately blockchain brings with it.

Not for everybody who understand that technology doesn't have this reaction, but in the common knowledge is still something that is tainted a little bit by the bad things that happen in the world of nfts and cryptocurrency.

Clint Harris:

I don't want to oversimplify this. It sounds like there's an unlimited amount of applications, basically.

But one of the things that has potential to really shake the bedrock of especially commercial real estate is fractional ownership.

It's creating a level playing field where it's not just large syndications or large operators that are going out and taking down these large projects. It gives people the opportunity to fractionalize the ownership of a property. People can invest directly into that.

Property syndication has become really powerful as a group of people pooling money together to do something that's greater than what they could accomplish on their own.

And this, honestly, is kind of a step backwards in that you can go straight to whatever, whoever owns that property and buy a portion of it and basically create your own investments with minimal amounts likely, and be part owner of.

Roberto Capodieci:

That, or even diversify. Rather, the only 100% of one estate can have a small piece of money. So you leverage the risk. Absolutely, yes.

Clint Harris:

So who's on the forefront? Are people out there doing it?

You can take like an Airbnb property or a large corporate building or something like that, and you can basically put it on the blockchain. There's an active marketplace for this now, or is this just kind of where everything's headed?

Roberto Capodieci:

See the use cases being applied, but because of legislation and things on the other end, there are things that are not highly regulated. So, I mean, I need to do accounting for my company. What piece of software I use to the accounting doesn't matter.

It was important is the result is there. So if you take things in this way, there are a lot of application that can be done even today and are done in many cases.

The idea that the application are many, like the classic timeshare for a property that was, I don't know if in the United States took place, but in Europe it was a big thing for a long time. So everybody buy one week in the year of a piece of property like this, can be easily managed in the same way.

The basic aspect of blockchain, going back to the powers that it has, is that allow people that they're not contractually connected to each other. So they didn't sit in front of the lawyer to sign an agreement.

If you want to work together without having to elect a third party to be the guarantor of the truth. Okay, so let's say the two of us, we decide to do something where there is some need of trust that I don't have.

So they call it trustless because you don't need the trust because it's guaranteed by mathematics.

And we don't want to go to a lawyer because mathematics is good enough for us, and we don't want to elect a fourth person to hold the data for us that we all need to trust, then blockchain is a missing solution.

That's why in the spectral real estate, where two strangers want to participate in a similar experience and doesn't remove the need to trust, because there must be somebody that manage things at the end of the day, but allowed to vote. For example, if there is a renovation to do in a state that is a fraction in 100,000 people per se, they can vote based on the participation.

They have one token is one vote. Somebody has more, somebody else less, and they can cast a vote. And this is all things that can be done and guaranteed mathematically.

So you don't need somebody to collect the vote and tell you which was the result, like they're doing some election.

Neil Henderson:

So what I'm gathering, you're saying the example you used about blockchain is that it's a way to ensure that a digital asset is singular and not changeable without everyone knowing it's been changed. It goes a lot deeper than that. And you're just touching on that. You can have built in a blockchain can essentially work like an automated contract.

You can have all of these different layers.

My understanding that you could have a fractional ownership of a timeshare like example you use where it also, it lists your ownership, it lists your percentage of equity, it lists how you'll be paid, it lists your access, if you have access, it lists the weeks that you'll be able to use.

It's rather than having a third party timeshare manager, you could potentially have a blockchain timeshare manager that we've all agreed to and it's all spelled out on the blockchain, is that correct?

Roberto Capodieci:

And talking about passive income as well. If somebody organized these things.

So invest in creating these ruleset or digital blockchain rules that people can use, can charge a small fee for people doing these sort of transaction. Once everything works, it doesn't have to worry.

He has his income by, you know, he's going to be interested in advertising it, so that people adopt it, do the same aspect, but the system work on his own. And he has a passive income, if you want.

So there is a business side as well, because being so distributed, the blockchain, the only project will start bottom up. But if somebody doesn't take the lead in organizing it and expose themselves to make it happen, is difficult this thing for happening.

And that's one important, another thing that is important about blockchain. For example, in a lecture blockchain at the university, which is the use of this system to play chess or to play tic tac toe.

Okay, so the important thing is there are rules that can be written inside the protocol of the blockchain or a smart contract above guarantee that people can do only what is okay to do. Going to the basic example of bitcoin, I cannot transfer you to bitcoin if I own only two, you know, if I only.

They can send you one, one and a half, two maximum. But no more than that.

And this is a simple rule, but in where there is a flow of logic, for example, you can now exchange your week in the timeshare with somebody else, unless it's approved by the blah blah blah or whatever it is, then you know that also in the things that you can do in base, you can guarantee somebody did something, everything was okay for these things to be done, which is a much powerful also remove corruption, remove favoriteism and so on and so forth.

Clint Harris:

It's kind of the equivalent. In your example, you talked about basically someone putting together the equivalent of a syndication fund.

Like you're going to give me money, I'm going to raise $10 million from a group of investors, and then we're going to go out and we're going to invest in these different things. But then I'm responsible for all the communication that comes along with that, the accounting, the k one s, the accelerated depreciation, all of it.

And it's basically a job until that fund eventually sunsets or those assets are liquidated. And you're talking about the opportunity to basically build out a blockchain system with the same kind of model.

You're going to get people investing into that, but then that blockchain is going to manage itself and it's all mathematically proven. And so the laborious part of being that fund manager kind of goes away.

Now, you baked it in ahead of time, you preloaded the work and got it all put together, but then it's running. And because it's on blockchain, technically it could run indefinitely because you don't have to have a sunset on it.

And that's the biggest thing about funds, is that eventually people will close them down because they're tired of having the job and doing the work.

But you can create a financial vehicle out of this that could continue to move forward with the significantly lower barrier to entry because people could invest with as little as $100 or $1,000 where it's really not worth it with a fund, unless somebody's in for a minimum of 50 to 100,000 just to make it worth the hassle. So it's going to take a while, I would imagine, before there's widespread adoption.

But to me it sounds like this is creating an unbelievable opportunity for the masses, for individuals to start using this platform and have access and opportunity to investments that traditionally have only been open to accredited investors. Is that true?

Roberto Capodieci:

Absolutely. And only is accessible 24/7 so if it's Friday night, I'm at the bar and I get drunk. And there is this beautiful lady. I want to gift her my house.

I can actually technically can, because nobody's there stopping me unless there is a written rule. I love Google. In Gmail, if you send an email at three in the morning, you can activate a small plugin.

They ask you mathematical operation to be sure you are sober when you're doing that. You don't regret it the following morning.

What you have done now, because what I'm trying to say is that with the distribution and removing the middleman, the responsibility at this point goes to the person that hold the comments, right? Because you cannot call somebody to say, I made a mistake yesterday.

So it's important also the interface to use these sorts of things to be very well measured, you know, because once you do it, then it's there, right? So it is important to understand. But yes, what you said is absolutely correct, is interesting.

And if you want a sort of a real estate solution on blockchain, we just came out of this metaverse bubble. Everybody wanted to live in the metaverse. The Facebook change named the company to meta right.

In the metaverse in summer, virtual world that will be part of a metaverse someday. There are lands and buildings that the people purchase is a clip to the blockchain.

I mean, we're talking about millions and millions of dollars, you know, so you buy land in a piece of metaverse using tokenization, using your blockchain account, and wouldn't be zero difference to do the same exact thing on an actual piece of land.

Neil Henderson:

It seems like we said before, one of the biggest challenges regulatory and trust right now, most people's experience to date with the blockchain has been with cryptocurrency. And the example using is also in the metaverse. And it seems like maybe the metaverse is a bit of a.

Almost like a proving ground for some of the concepts around it.

Is there anywhere today in the real world where there's a country or organizations that are utilizing blockchain in the manner that we're talking to beyond cryptocurrency? Let's forget about cryptocurrency in Germany for sure.

Roberto Capodieci:

I don't have in the tip of my mind the name of the organization that do that, but the government pass it in a law that is possible to do. And there are another four or five countries that I am aware of that had by law the possibility to set times with the blockchain.

Which one and how it depends on the regulation. So this is done.

And I also saw projects, for example, the million dollar villa, somebody that was selling token for a villa that would be built later with all the money collected.

And each person will own a part of it to be able to use it, but also to choose out to what piece of furniture will go in some place, you know, so it was a fully collectively decided things. So you can buy physically a piece of. So you know, that wardrobe is yours or the toilet is yours.

You buy one particular piece and you decide on the piece, what to do, how to do, and then there's a collective ownership. So it was a very creative, particular way to raise funds to build a house.

But on the other hand, is also a good aspect because it's a good study if you want, on use of it. Another was doing project related to ecology. So making sure that the consumption of electricity to monitor places around real.

So there is all the mechanics of the electricity consumption, so the utilities and so on, which are also monitored together with other aspects. So there are many, you know, different initiatives that are like this.

Clint Harris:

Yeah, I kind of feel like we're going down the rabbit hole. I'm an investor, right? So I always take it back to real estate and kind of take it there.

But even within that realm, my brain is spinning right now of all the different applications.

And I think that it likely has opportunity to change I valuations on properties, because if you're talking about people pooling together money to buy a property, and they're not using debt with, you know, interest rates, and you're not paying $10,000 in closing costs to close on a house because of the deed registry and all the prep and everything like that is basically automated. The ownership can be automated through the blockchain that I think it has opportunity to change that valuation.

If you're pooling together money from 100 people to buy a certain real estate project or a hotel, and it's cash, those people are probably going to be willing to purchase at a lower cap rate if it's a project that they're passionate about. And so I could see it get to the point where I'm listing a house.

It can go on the average market, or it could be listed on blockchain and be sold basically as a syndicated deal or something like that.

And people are going to get to the point of they're choosing one way or the other, and like I'm going to sell it whichever way is going to give me the highest net. And it might be that this is kind of the way of the future and do things a little bit differently.

So with your background technology, where's the opportunity.

You're in this world like you're calling us from Bali right now, but you're working around the world with this technology that's blossoming in different countries for the average person. Like what should we be looking for, what should we be reading? What resources are out there?

And where's the opportunity over the next five to ten years?

Roberto Capodieci:

Let me give you an analogy as fast as I can. When was the moment of the digital camera? When the first digital camera came out? I am from Venice in Italy, okay? Which is a touristic destination.

There were dozens of shops that were developer pictures. They have this huge Kodak machine where you put the film inside and automatically come out, okay?

Only one photographer understood what the change of a digital photography would bring. He called me and we bought computer, he made the place to sit and do photo editing. He specializes in all these things.

Sure enough, you know, it was very ahead of time.

But a few years later, all the shop with the code up machine with Omer Simpson that was there pressing the button because you didn't need more than that, closed down, same like blockbuster with the streaming video, right?

So now that the bubble of all the cryptocurrency is fading out and people is looking at the real time, technology is a moment for people that is in the industry deeply enough like you or other people like you to take the lead and build the systems the other is going to adopt later, you know, so that's a golden moment to surf the wave that is going to arrive, you know, because later then you follow, you don't lead anymore. You're gonna be using some.

So people like me, it's beautiful to be in the software development in this, because I had experience with cutting marble, with plastic surgery, everything, and bring the knowledge, but I don't have the knowledge of the real estate world to understand what is a better choice in a way or another. Right?

So it's only people like you, empowered by somebody like me, that can create something that tomorrow people are going to use in the regulator aspect as well, but in the technical and practical aspect as well. So you lead the way.

Neil Henderson:

You and I are probably about the same age, mid fifties. We both grew up, we saw, I remember the first time someone told me an email address and I was like, what do you mean?

What the hell are you talking about? And I remember the first time someone read out a website address to me, you know, www dot blah blah blah.com, you know, what the hell?

t think really took off until:

Post.com bust busted.

Roberto Capodieci:

Everyone's like, exactly correct. Exactly what you need. You need the hyper excitement people that just add.com because it makes money.

You know, there was a tea company, they make tea, drink the other blockchain in the company name without 400% in the stock market in Hong Kong. So once this bubble explode, and we are in this moment because we just being now everybody's artificial intelligence, right?

Who remember blockchain anymore? I forgot that I lost my job. I'm just kidding. But meaning that people moved on in another bubble, in another trend.

So this is the gold moment to actually beat the real things with decentralizations.

Neil Henderson:

Preston. Yeah, I guess my question off of that is where do you think we are timeline wise?

, busted in:

We're carrying a lot of computers in our pocket that are wallets, our identification, our communication, everything. Where do you think we are in the timeline of blockchain and that technology taking off?

Roberto Capodieci:

Blockchain is already almost 15 years old and so we already been through quite a lot. I think that also time goes a different speed now. So we are much more into these technology things. I could keep up with everything in the past.

I cannot keep up with anything now because I turn around, something has happened.

So I say that is something that is going to stay long term, is something that is going to flourish in the next five years, maybe to the point that people understand why. Because technologically wise, there is some more advancement that needs to be done, in my opinion. But we are already there.

Why people should use, you know, the first email you mentioned, the email. The beautiful thing is, if you think about the email in the past, the people says it's never going to work. The fax machine is so simple.

You put a piece of paper, it comes out on the other side, is done. And for young people that listen to us, it was a strange machine that can send the messages in paper.

And people that send an email would need to know the computer, start the computer, the model, start making strange sounds, connect, send email, the bright, and then hang up, then pick up the phone, call the other person, say, look, I sent you an email. Go check right. And this is what's insane. So how can you see something like this possibly becoming functional and of everyday use?

Now we receive now email is actually so abused that is no more useful because I received 500 email per day. How can I know what's important or not?

So obviously we have in front of us prosper future for this sort of technology like blockchain that decentralized, that brings in our hand the control of what we do in so many different fields. And it's going to happen. We like it or not because we are moving that direction and then is a choice who's going to lead the team's market.

So in my opinion, five years from now, people will have a much more consciousness in what happened, even though the final user should not even care what happened behind the scene. Okay. You don't need to know an engine to drive a cardinal, so people will use it.

People will be able to buy like my grandma gave me for Christmas, $100, $10 I buy a piece of a horse, $20 I buy a piece of property, $10 I am a partner of a club downtown, you know, whatever it is. And then they're going to see their own investment into such a small term because it's going to be possible and regulated as well.

Clint Harris:

Along with that, security is going to become even more important because there's going to be a lot of opportunity for fraud.

But in terms of the timeline of things, the radio used to be so important to the families in America in the thirties, forties, fifties, like people would gather around in the evenings and the families would listen to the radio. And then the television replaced the radio. And I would argue now that the cell phone is replacing the television, if it hasn't already right now.

And it's the same kind of thing you talk about. Email replaced the fax machine. Well, fax machine replaced writing letters.

And now it's gotten to the point, just like you said, I walk in and the first thing I do on Monday mornings is unsubscribe from about 20 emails. It's too much. It's just noise.

And it's to the point now that now we're using so many different platforms here, there's Google chat, there's just sending people text like nobody wants to be on the phone anymore.

You can feel that technology getting replaced and it feels like with the conversation we're having is that there are things right now that are going to get replaced that we haven't even realized yet because the application is there. This feels like one of those conversations that if you go back and listen to it five years from now, it's probably going to be comical.

We're just barely.

It's me especially, I'm barely wrapping my head around this, and we're going to look back and remember being like, I got my first cell phone when I was 15, the Nokia brick phone. And then, yeah, for me, it was in college when I remember a friend telling me, like, hey, check out this Facebook thing.

You have to have an email address that ends in in order to sign up. And, like, we rally. I went to a private school. We, like, rallied a group of people to reach out to Facebook to get our school added to the list.

And I watched the computer lounge. Those most people didn't have computers.

I watched a computer lounge in college explode over a period of a month or two because everybody's connecting and things like that. And it's funny to see how much got replaced and when it's happening in the moment.

You don't realize that how much of your interaction is about to be on a social media platform. And that opens up the opportunity of. For connections, for marketplace.

I mean, ten years ago, it's ludicrous to think that we would be connecting with you, Roberto, while you're in Bali, for us to have a conversation about this, and now it's commonplace. And Covid pushed a lot of people to start doing that a lot faster.

To me, it feels like one of those things that it's going to take some early adapters of new technology to push it forward.

There's going to be a moment when it hits mainstream, and it's not going to be the cryptocurrency bubble, and it's not going to be NFTs and Jake Paul pushing, you know, monkey pictures.

It's going to be an adaptive use of somebody that's making a meaningful change in the world and the value that they can offer people in terms of fractionalized ownership. There's going to be a moment, it's going to take off from there.

Neil Henderson:

Roberto, I want to start wrapping it up, but I want to ask you one last question. What is the coolest application of the blockchain that you have seen to date?

Roberto Capodieci:

All right, that's a good question. So I will go to a sector that is not really business oriented, but it's the gaming industry.

think in a game you can have:

Now, because of decentralization and assetization, this golden world can belong to you independently where you are. So if you go to another game that is compatible, there you go.

You are your golden sword that you got from the other game and you can use it in this other game. And these changed the paradigm. They call it web three because web two was passive.

I doesn't matter who I am, you know, like I serve from one place to the other. If I have an account in a place, is limited to the place. Now with a digital identity, me is gonna be me everywhere I go.

And I've been recognized so much that you can combine things are very interesting.

For example, so if you own a piece of Israel estate, you can access the country club there because they can verify the ownership in the blockchain itself. So it opens a lot of other interesting things.

So the best application, in my opinion, as of today, is to bring the items the kids have in video games, including the avatar outside the game with them to be brought into another game or around them to be sold as well. I've spent three months fighting to get the goes word. There is the rich kid that wants to shortcut and have the goes word.

Give me $50, I give you the goldword. That's another way to see it.

Neil Henderson:

Roberto Cappadoci, this has been a mind expanding conversation and I've really enjoyed it.

A bit surprising if any of our listeners want to find out more about the blockchain and more about you specifically, what would be the best place for them to find you?

Roberto Capodieci:

Sure. So my LinkedIn profile, the classic LinkedIn.com in rc ten r like Roberto C like Capo, ten is number ten in Italian. In Italian, ten is dieci.

So my family name is boss of ten. Capo Diecapo is the boss. Ten is dhe. So RC ten in LinkedIn. Or a short link for my website is Rcx dot it Rcx because X innumerable is number ten again.

So RC Roberto capital ten, dot it. Which is because I'm italian or because it's the business.

I work in information technology, so that it rcx it RC ten in LinkedIn and they can reach me. I have written and published a few books. One latest is on blockchain and is for free to download.

So if somebody wants the link, they can ask me and I happy to share the book. Or they want to buy Amazon, they can buy an Amazon.

Neil Henderson:

It's okay, we'll put all that in the show notes. But I've really enjoyed this conversation.

Clint Harris:

Roberto, appreciate your time. Have a great day.

Roberto Capodieci:

Thank you.

Neil Henderson:

Thank you so much for listening and watching the truly passive income podcast.

If you liked the show, if you think it would be useful for someone else, the greatest compliment that you could give us would be to share the episode. Leave a comment down below, or leave us an honest review. If you have any questions, don't hesitate to let us know down below.

And remember, with truly passive income comes freedom of time, place, and the freedom to pursue your higher purpose.

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