The Business For Home app delivers Direct Selling news, company analysis and market data.

Download for free:

Jef Welch CEO Magellan Speaks Out About MLM, Betchip And Crypto Currencies

Jef Welch CEO Magellan Speaks Out About MLM, Betchip And Crypto Currencies

Jef Welch, an international top leader in the Direct Sales industry, took the role of CEO of Magellan International Alliances in late June this year.

His role in the company evolved from introducing top leaders in the digital economy to the owners, to becoming President, then accepting the responsibility of CEO after the former CEO, Lorence Irvine, experienced medical issues.

We asked Jef Welch to explain:

“I was a dogmatic critic of the combination of crypto currency and direct sales, and to a degree I remain so. Although I could see many strong intelligent leaders in direct sales migrating into the crypto currency companies, there has been a mountain of carnage at the expense of good people investing their time and money.

I saw too many people getting hurt in the crypto deals.

I had been saying all along that every crypto company is like a casino, and the house always wins. Casinos and Saloons set the original concept of trading currency for wooden chips before computers or the invention of electricity. When the owners of CGIPH Ltd., Coinsinos (eventually branding the name Magellan) approached me about what they were doing, I told them that I had no interest in crypto being mixed with direct sales, but I wanted to hear what they had in mind.

The concept of BetChip had merit in that it wasn’t a coin being created without a purpose. It was the merchant system embracing the development of a new crypto currency coin.

And the BetChip being its own blockchain with new technology the provision of solutions are practically limitless. It was established to facilitate the gaming market with the ability to be limitless in how it was to be used. I saw the viability of the concept.

The challenges most companies face in this genre isn’t isolated or restricted to the decisions or actions of a company. Being new to the crypto-currency/MLM space I observed a major component which is consistent in most of the companies which involves the detrimental involvement from leaders who join the company with a money-game, ponzi-scheme mentality and methodology in the way they build their teams. This industry of crypto combined with MLM attracts some of the wrong people, with wrong objectives, and ethics which are toxic.

Although these type leaders may have experience in crypto/MLM, it doesn’t make them a professional at anything ethical or legitimate. They bring the same scam mentality from one company to the next. This happened to us in Magellan as well, as we had several join the membership with unethical intentions.

However I isolated these leaders, separated them from the legitimate and ethical membership to protect the objective of Magellan.

I accepted the CEO position for several reasons. I saw the need for a major transition away from a business model which seemed to attract the money-gamers and scam artists in this industry, and also the need to retract all business in countries where government agencies fail to embrace the business model.

I committed myself to the intense study of the crypto-currency economic solutions which are relative to the continuous problems other companies have endured. One major issue is very evident. Most companies make their decisions based on the demands of the members instead of what is best for the company and its survival. The money-gaming leaders will push the company to make decisions which are best for the members and detrimental to the stability of the company. They are focused on their own momentum and driving their big commissions, with their only objective being the compensation plan and and lucrative bonuses.

Jef Welch on stage

I realize as the CEO, there are decisions which need to be made that weren’t always popular to all, especially to those who have experience in crypto-currency type companies prior to joining Magellan of which have their own assumptions to what should or shouldn’t work. However, realizing that none of these leaders had ever come from any companies which succeeded, and all those companies failed.

Therefore once I became CEO, I determined that for Magellan to succeed, we could no longer take advice from leaders with track records of failed history in crypto-currency companies.

Since the beginning of July until present,  Magellan has made tremendous progress in shifting its efforts exclusively to the healthiness of the company and for the protection of all members, and the packages they purchased.

Although Magellan isn’t BetChip, it is providing the global marketing affiliate membership team which is dedicated to the future of BetChip. As of November 27th, no packages which provide the bonus of gifted BetChip are available within Magellan. This is due to BetChip being accepted on an exchange at the value of $3.00 USD each.

The Magellan membership will be on pause for the month of December in preparation of 2019, the new platform, and to give opportunity for all Magellan members to have access to their BetChip.io wallets which are being integrated with their Magellan BetChip wallets.

This will permit all members to transact peer-to-peer within the Magellan ecosystem with BetChip, as well as on the exchange.

In conclusion, it is my opinion that MLM and crypto-currency are not necessarily the best combination, unless a company is willing to exit the business model when the coin is accepted onto an exchange, and move forward with other product offerings which support the advancement of all activities previously accomplished.

This is the objective of Magellan, to evolve with the transitions needed to accomplish the purpose of the business model.”

We asked Jef Welch his thoughts on the current condition of the digital economy and how this effects the efforts of Magellan and the BetChip:

“I recall a conversation earlier this year from one of our founders and it is happening exactly as he predicted, we are in a crypto-currency recession, a purifying of the digital economy. With over 800,000 unplugged mining machines around the world stressing about the profits in mining, along with Bitcoin at its lowest in 2 years, only the strong will survive.

BetChip is here to stay, and with BetChip being its own blockchain, not forked from Bitcoin or other blockchains, the future is unlimited.

Strategically the BetChip is in perfect timing with the current crypto-currency recessionary. 2019 will be an exciting year to experience for everyone with BetChip. It’s not a token. It’s a mined crypto-currency coin, decentralized, its own blockchain, and merchants around the globe embracing its usage. The BetChip app will provide the full cycle needed for faster transactions, better rates, new more secure technology, and a user-friendly platform for merchants.”

 There are new crypto-currency companies launching consistently in the MLM space, so we asked Jef Welch what his thoughts were about this:

“I see it happening, but I don’t think they should do it unless they are willing to do it like we did at Magellan. The business model a company launches with will only sustain if the company owners have substantial finances to accommodate the needs for the first year and also for the transition. But most won’t do that. And most will never experience their coin/token making it onto an exchange.

Most companies are built around the feeding of the “money-game” where all their decisions are to stimulate the activity of momentum from the memberships. This might work for a few months but it cannot sustain. And let’s be honest! Most of these companies are not focused on the coin they are launching, the profitability of the mining or the operation of the company. They’re just set up to be a money-game. The top leaders make their money and 6 months later they close their doors and merge to the next deal. They usually don’t even see the coin they are promoting, go onto an exchange. They lose everything they put into it.

Magellan has stood by the policy of doing business the correct way.

Our members are receiving their BetChip wallets and have experienced some of the most lucrative commissions throughout 2018 than anyone in the industry.  Now the members are focused on the usability of BetChip and its activity on the exchange.”

About Magellan International Alliances

Magellan has attracted some of the most knowledgeable and influential people from all over the globe. Our advanced marketing plan will be supported in part by the Magellan infrastructure of mining.

The Magellan mining infrastructure is located across the globe, operating efficiently with the most reliable source of green energy practices, with little to no impact on the ecological environment.

Magellan International Alliances Ltd. is not operating in the United States including United States territories.

For more information please visit www.magellaninternational.com

Comments (1)

  1. I invested in this since August 2018 uptill now nothing has come up and I do contact the person that introduced me into it and he said by July we will be paid

    I am worried

    Kingsley

Write a comment

Your email address will not be published. Required fields are marked *

Load more