How can crypto reach mass adoption? ‘Keep on building,’ says Centbee CEO Angus Brown

Until the cryptocurrency market turns around, the businesses already invested in the industry need to keep putting one foot before the other to steadily build towards mass adoption. Centbee’s CEO Angus Brown reiterated that thought in this interview with CoinGeek’s Becky Liggero.

“The reality is keep building. Keep trucking. That’s all we’re trying to do, is we’ve got a business,” said Brown. “The business is a long term business. It’s not about the ups and downs, and I know the ride can sometimes be rocky, but it’s actually just about we keep on building.”

It helps for Centbee to be a supporter of Bitcoin SV (BSV), as it’s the crypto with the most stable development plan. “We’re using Satoshi’s vision, the Bitcoin SV node that is working nicely,” the Centbee CEO said. “And it’s all just keep trucking, see this through. What we’re busy doing is doing all the integration into merchants, so that we can enable you to buy Bitcoin easily and store, and to enable you to be able to spend your Bitcoin.”

The sole challenge facing South Africa-based Centbee for the moment is keeping customers informed and supported. “Customers are asking us, ‘What happened to my coins, where’s my coins, how do I split,’” said Brown. “So it’s a lack of information. So whatever we can do to help customers understand that things are going to be ok, and we just need to get a bit more information in front of them and help them.”

According to Brown, regulators are doing their best to understand cryptocurrencies, but they’re still wrapping their head around it. “When they’re dealing with a global currency like Bitcoin, the challenge is, is how do you deal with something that’s bigger than you are,” he says. They are doing their level best to step up to the challenge though. “I must commend the [South African] regulators for taking a measured approach. They put out a position paper in 2014 that effectively said to people ‘It’s ok, but we’re going to monitor it and control it.’ And they’re updating those position papers as we go. And we’re giving lots of advice to the regulators.”

Despite the down market, Centbee is seeing a lot of adoption from around the globe for their wallet and BSV. Brown notes that they have customers from India, Bangladesh, Iraq, Nepal, South Africa, Germany and the UK, amongst others. “We’re very pleased about that, because it shows such a global interest in Bitcoin,” he said. “That there’s appeal not just for the crypto community, they’re actually really interested in the world’s new money.”

BrewDog UK’s Martin Dempster: Bitcoin SV provides clarity

Businesses want to plan out their future with confidence, and to do that they need to reduce as many variables as possible. BrewDog has chosen to support Bitcoin SV (BSV) for that reason, because of the clear, stable development plan that it’s development team has laid out.

Martin Dempster, VP of Innovation for BrewDog UK, joined CoinGeek’s Rebecca Liggero to discuss why they’ve chosen to work with BSV. His excitement for the BSV project is overflowing. “I’m really excited just to continue on this journey about how we can explore and accept cryptocurrencies with BrewDog,” he said.

The UK brewery was an early adopter of BSV. They’ve been accepting the only Bitcoin to follow the original vision of Satoshi since the November 2018 hard fork that saw it split off from Bitcoin Cash (BCHABC) and haven’t looked back since, believing in its ability to provide an easy to use and cheap payment system.

What helps BrewDog believe in BSV is just how stable and clear the plan forward is. Dempter said, “I think it’s just really good that there’s clarity now, clarity of vision I think is very important. Hopefully it’s a really good springboard into the future.”

Other altcoins are still playing with their protocols, unsure of what their plan will be a few months from now, never mind years down the road. That won’t cut it for business planning. BSV is ready to help companies move into the crypto space now with certainty. “I think it’s really important because we all know and understand that this technology is going to change the way that we do business into the future,” Dempster said.

Having a clear plan now, and the opportunity to get serious about development, is the recipe for future success. “We don’t know quite what that’s going to look like in 10 or 20 years, but we know its going to happen, so I think for us to develop competency in this area is really important, and that will allow us to really move quickly when the time is right,” Dempster concluded.

Kaspar Korjus: Distributed tech show you don’t need to trust any gov’t employee

How can technologies like distributed ledger help countries stay relevant? In Estonia’s case, the answer is simple: it helps gain trust between the government and the people.

Kaspar Korjus, who manages Estonia’s e-Residency program, says the country is looking at doubling its GDP in seven to eight years’ time, with the help of new technologies like distributed ledger and blockchain.

“If nations are becoming borderless, then they can really scaling their GDP also, and distributed technology is definitely one part of that which helps to gain trust between nations and citizens because it’s all about trust,” Korjus tells CoinGeek.com. “If people don’t trust the nation, they don’t want to use digital services, and distributed technology helps to show that you don’t need to trust any government employee but you can trust mathematics, encryption and technology which shows that no one is tampering your data.”

In 2014, Korjus launched e-Residency, a program that allows entrepreneurs to establish a digital identity in Estonia and run a location-independent EU company online. To date, Korjus said the e-Residency program has become “very popular globally,” with over 60,000 e-Residents from around the world.

“Each person on the planet can become our citizen, an e-resident, and get an ID card and enter into Estonian digital society, according to Korjus, who stepped down from his post as managing director of e-Residency in January but has stayed on as the program’s acting director until his replacement is found.

At the recently held Blockchain Convergence Summit-Chain Plus conference in Seoul, Korjus laid out the 10 phases of staying relevant with the help of technology. One step is tokenizing the ecosystem, which in Estonia’s case is the introduction of Estcoin. Korjus explains: “Nations similarly as private sector can also launch crypto tokens, and Estcoin was a proposal which I made one year ago regarding offering e-Residents a token which they can exchange value between each other and which Estonia, as a nation, [can place] value price and then it would be more convenient to do international trade and for e-Residents themselves to exchange currency. This is in analysis phase and hopefully one day, Estonia will be the first nation to launch it.”

Unfortunately, Estonian officials have reportedly shot down the Estcoin proposal, saying that the only suitable currency for the EU state was the Euro. But to stay relevant, as Korjus says, there’s no denying that tokenization is worth looking into, particularly on a blockchain that is government- and regulation-friendly like Bitcoin SV (BSV).

Tokenized, for instance, is an on-chain token system designed exclusively for the BSV network, offering protocols for over 40 separate kinds of contract, from financial assets like stocks, bonds, notes, futures and asset-backed securities to tickets for movies, transportation and events, or even credit and point systems as well as licenses.

Dominic Frisby: The future economy will need cryptocurrency

Dominic Frisby has a clear vision of what the future holds, for both cryptourrency and the world at large. He joined CoinGeek’s Becky Liggero to discuss the state of crypto markets, and what digital currency means to the workforce and world governments.

The current long downturn in the cyptocurrency market has a lot of people down, but Frisby knows that this too shall pass. He explained the Gartner Hype Cycle, and what it means for crypto’s future.

“So you have the initial technology trigger when it’s invented, then you have the point at which everyone gets very excited, and that’s the peak of inflated expectations, think of dotcom in 2000.

“And then a kind of reality sets in, and people start to realize that actually, we need to do a lot of work to get this technology working really well to get mainstream adoption. A few incompetents are exposed, there’s a couple of scams get revealed, and suddenly the world that was massively in love with the sector falls out of love with the sector. And you go into this kind of trough of disillusionment, and then gradually, the sort of bad, malfeasant operators get weeded out, and only the serious players are left.

“Gradually it builds and builds and builds, and this would be the Internet from 2003 to today… Bitcoin needs to climb that slope of enlightenment on its way to the plateau of productivity.”

Frisby knows that mass adoption of cryptocurrency is inevitable, because the opportunity for it is too great. He said, “There’s still 2 billion unbanked people in the world, who will be able to accept cryptocurrencies as a means of payment. Before, they would never get a bank account.”

Those who don’t understand why we need cryptocurrency just aren’t looking at current trends enough to understand where the world is going. “The intangible economy is now bigger than the tangible economy,” Frisby notes. “It’s borderless, it’s the internet, there’s no borders. We’ve got money without borders, and more and more people are turning freelance, the traditional employee-employer relationship is dying.”

Cryptocurrency is needed as a solution because there will be no other way to sensibly pay this new workforce. Frisby thought it through, saying, “You’re looking at a digital nomad population of a billion people. That’s an extraordinarily high number, and it has all sorts of implications for the way they receive payment. They’re borderless people. They’re going to want to be paid in borderless money.”

This is all going to be a big headache for national governments to tax if they can’t keep up. He points out, “They’re going to struggle; you know the government has always struggled to tax the intangible economy. It struggles to tax Google and Facebook, it’s going to struggle to tax cryptocurrencies, it’s going to struggle to tax digital nomads who are operating in crypto money.”

The implications of this are clear, governments that can’t figure out a new tax regime will struggle to provide services that their citizens have come to expect. That can be a bit scary for untold millions of people who rely on the government for daily needs.

Frisby isn’t too worried though. When asked about the future of cryptocurrency, he simply concludes, “It’ll be all right in the end.”

Memo SV makes for true connections

CoinGeek’s Becky Liggero got to speak with Memo.cash founder Jason Chavannes on the potential of decentralized social networks.

According to Memo.cash founder Jason Chavannes, one disadvantage of websites like Craigslist is that accounts aren’t connected to an actual person. “[I]t’s basically like a bulletin board where you can post things for sale locally. But there’s some problems with it. People get scammed a lot, and a lot of this is basically because it’s anonymous,” he said.

Chavannes sees the same mechanism for advertising applied to the blockchain through Memo and make for more trustworthy transactions. “[H]aving single online identity, it reinforces the trust aspect so much more. Because anything you do on any service is now linked to your permanent identity, so you could build something like that into Craigslist,” he said.

Memo first came about a year ago, utilizing Bitcoin Cash to create online connections. Chavannes said he had been considering a decentralized on-chain social network for some time before that. “I knew that the blockchain had the potential to serve that [social networking purpose], because trying to create your own network… it’s hard to keep it alive, and the blockchain is already an existing network that you can just rely on being there. So it was a natural use of it. But then the [BTC] blockchain obviously couldn’t handle this because they don’t want any transactions, let alone crazy, large social media-level transactions.”

Unlike BTC, Bitcoin Cash allowed for larger blocks, which Chavannes took as a signal to start Memo. “It was like, ‘Alright, now’s the time to execute,’” he narrated.

Memo works similar to Facebook or Twitter, but activity such as posting involves a transaction on the chain. Fellow users then award posts by Satoshi units, or one-hundred millionth of a coin.

Now, in the wake of the November 2018 Bitcoin Cash hard fork, Memo has been enabled for Bitcoin SV, the only cryptocurrency remaining true to the Nakamoto whitepaper. More data could be encoded through the OP_RETURN function than ever before, allowing for a greater variety of content that users can share.

Chavannes said the Memo network was still at its early stages, but that “in the long run, as the network grows, it can be used across multiple sites. There’s already multiple social networks that are using the same-based protocol, so now when you sign up for Instagram or whatever, you don’t have any connections. You have to start from scratch over again. With Memo, you can now have all these social networks linked together so that when you sign up to a new one, you take all of your connections with you.”

Jimmy Nguyen: The Bitcoin world needs more positivity

Jimmy Nguyen: The Bitcoin world needs more positivity

CoinGeek.com’s Becky Liggero sat down with Jimmy Nguyen, CEO of the nChain Group, for an interesting discussion about collaboration and positivity, and how these factors will ignite the growth of Bitcoin Cash.

Since it split from the legacy Bitcoin (BTC) chain more than half a year ago, things don’t appear to be slowing down for Bitcoin Cash. And the cryptocurrency, which is considered the true Bitcoin as intended by the Satoshi Nakamoto white paper, can thank various groups for its growth.

One of the organizations working tirelessly to spur and ignite the growth of Bitcoin Cash is blockchain technology research and development firm nChain Group. CEO Jimmy Nguyen tells us in an interview that nChain currently has four business units: the first is nChain Limited, which focuses on blockchain research and development; there’s also the IP, holding and commercialization company called nChain Holdings; followed by an investment vehicle, called the nChain Reaction; finally, there’s nCrypt, formerly known as nTrust, which is the consumer-facing business of the group operating a Bitcoin wallet and exchange.

“Our business is set up with a very simple mission, which is we are designed to use our resources and our technology and our research to help enable the growth of Bitcoin Cash in particular, because we believe that it is the true Bitcoin,” Nguyen said.

In his role as the chief executive, Nguyen has already mapped out what he needs to do for nChain’s next chapter, which boils down to three things—take concrete actions, forge stronger relationships, and more importantly, foster positivity.

“There’s been a bit of negativity, which is an understatement, in Bitcoin for a number of years. I’m a person who always thinks on the bright side. I carry with me every day a positive attitude and I want to help inspire the people around me,” Nguyen said. “I believe the Bitcoin world needs more positivity, and I hope that our business can help provide that.”

Nguyen, who joined nChain after a 21-year career as an intellectual property and digital technology lawyer, isn’t just talk. In the past few months, the group has been partnering with organizations, groups and companies in the Bitcoin BCH ecosystem. These include collaborations with Bitcoin Unlimited as well as supporting and funding the Gigablock Testnet Initiative, all in the name of big blocks.

“We like big blocks at nChain, and we cannot lie,” Nguyen said. “Those are the various steps we’re doing to support what’s needed first: building the infrastructure and the backbone of a larger scaled network. Getting it to the average person on the street on a broader basis will come after that.”

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Zach Piester: Blockchain startups biggest task is ‘to build things that matter’

Zach Piester: Blockchain startups biggest task is ‘to build things that matter’

Aside from cryptocurrencies, blockchain-based ventures have been all the rage of late. Coingeek.com’s Stephanie Tower caught up with Zach Piester, chief development officer at Intrepid Ventures, and asked him about the process and methods of building well-designed products and services in the space.

With recent news in the blockchain and cryptocurrency spaced being filled with welcome turns in terms of mass adoption and positive regulation, the industry is slowly but surely making bold steps for innovation in the space. CoinGeek.com asked Zach Piester about what he thinks are the challenges behind creating products and services for the blockchain and cryptocurrency space.

“I think the biggest challenge is for startups and organizations to actually build things that matter,” said Piester, who currently heads Intrepid Ventures’ development initiatives. Piester noted that what people want should be placed as a priority into any design and development plan. Piester’s experience in both design thinking and venture management provides him with insight into the methods and processes behind what works and looks good at the same time.

The practical vision of any cryptocurrency and blockchain-based startup should be “to build products and solutions and applications that people want,” reiterates Piester, adding that startups must first ask themselves a fundamental question: “Are you building something or have you built something that somebody’s willing to buy?”

With a lot of products and ICOs sprouting up in the space, it’s hard to identify which has potential and which might be a waste of time. Nevertheless, Piester is hopeful regarding this trend because he sees these initiatives as the effect of the space’s democratization.

“What’s so exciting about the space is it does provide, should provide equal opportunities to all of us,” he said.

Aside from regulation woes, cryptocurrencies and blockchain-based applications have another problem: design. As previously observed by Dr. Craig Wright, a lot of users may not feel too welcome because of complex interfaces which might hinder their use and reliance on the space’s new platforms.

Piester, who has also worked on such organizations as the ART+DATA Institute, believes that solid design principles should serve as a product’s foundation, as well as a company’s core structure.

“Design principles have to be part of the core of everything you do not only from a company perspective to be able to attract and retain good people, but from anything you put out in the marketplace, hire designers, hire good designers,” Piester said.

Asked about ICOs and his perspectives about the hype surrounding it, Piester warned about bad practices in the space which might result to legal consequences, noting that “there’s not a lot of principles and governance and structures going into a lot of these ICOs.”

“The risks are huge, you do something wrong, that you either did unintentionally or intentionally, you have the risk of going to jail, you have the risk of significant civil and legal penalties, and ignorance is no excuse for breaking the law,” he said.

As an experienced investor, Piester shared this advice: “The same diligence you would apply to investing in a public company, you should apply to a cryptocurrency company.” Piester’s belief in the transformative power of new digital interventions is based on his observation of how the ICOs and blockchain-based startups open a “unique empowering access to individuals all around” which will help uplift lives.

“The way I look at things is how do we break these poverty cycles? How do we, you know, create the world’s largest middle-class, which is by unblocking the institutions that don’t allow the individuals to become empowered,” he said.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
John McAfee on easing fear from government regulation of cryptocurrencies

John McAfee on easing fear from government regulation of cryptocurrencies

In this interview with CoinGeek.com, computer programmer and entrepreneur John McAfee shared his views on cryptocurrencies and why banks and governments are afraid of the global phenomenon.

Known for establishing one of the most successful software companies that distributes enterprise security software under the McAfee brand name, John McAfee is a major stakeholder of technology holdings company MGT Capital Investments.

An experienced businessman and information security engineer, McAfee moved MGT Capital Investments into the cryptocurrency space in May 2017, when he was still the chairman and CEO of the company, increasing its research and development on blockchain-based cybersecurity solutions. CoinGeek.com caught up with McAfee recently, and asked him why banks and governments are afraid of cryptocurrencies.

“Cryptocurrencies frighten governments because people who use them, you cannot find how much money they’re making through bitcoin, what they’re buying, what they’re selling and so governments make income by taxing the movement of money, whether you’re, like, in America, our income taxes are the greatest source of revenue,” McAfee said.

Cryptocurrencies were created with the aim of liberalizing transactions through peer-to-peer electronic payments, following the 2008 financial crisis. Spurred primarily by the subprime mortgage bubble, financial institutions crashed and sustained significant damages. This was what served as a catalyst of the then burgeoning cryptocurrency movement.

McAfee said ceasing cryptocurrency operations will be futile because “you cannot stop this technology because it is distributed, meaning that you (a crypto user) don’t care where anybody is, it’s a worldwide phenomenon, and this frightens governments.”

While some in the cryptocurrency community are of the opinion that government regulation poses a significant challenge to the crypto industry’s growth, advocates of Bitcoin Cash like Jimmy Nguyen of blockchain research and development firm nChain Group hold a positive outlook on the issue of regulation. But how can cryptocurrencies exist in a regulated environment? For McAfee, that’s something that the cryptocurrency community needs to decide internally.
“We have to have self-regulation, that’s obvious, I mean, China is right about one thing: the ICOs, the initial coin offerings, there are, lots of scams, lots of people who are fraudulently taking money from other people, so, that’s got to stop, but I don’t think governments can solve it, we as users and the bitcoin community have to be self-regulating,” he said.

Asked about what advice he could provide to new cryptocurrency users who may fear what the government could do, the cybersecurity researcher and now cryptocurrency advocate had this to say: “There’s no fear, okay? You just realize that oh, this is, this is very convenient, very powerful, it gives me the power to be my own bank. Why do I need a bank if I have a (cryptocurrency) wallet?” Further, McAfee provided a sample situation: “If I want to wire money to someone, I don’t have to call my bank, I go in my wallet and I just send it, and in a matter of seconds and it’s done.”

These days, what McAfee describes as sample situations is applicable to leading cryptocurrencies like Bitcoin Cash. The Bitcoin Cash network provides faster-than-lightning transactions with reliable confirmations at negligible fees. The network’s ecosystem is also expanding with new protocols, concurrent technologies and services, as well as global adoption from merchants and decentralized developers looking to create platforms to facilitate permissionless innovation and unrestricted growth.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Digital cash is the ‘killer feature’ in Satoshi white paper

Digital cash is the ‘killer feature’ in Satoshi white paper, says Bitcoin ABC’s Amaury Sechet

CoinGeek.com’s Becky Liggero sat down with Bitcoin ABC’s lead developer Amaury Sechet for an interesting conversation on how the community-based development work on Bitcoin Cash is currently being done.

Known in the programming community as “deadalnix”, Amaury Sechet has worked as a software engineer for prominent community platforms including Facebook. He has been involved with Bitcoin for a long time, having learned about it back in 2010, although it was merely a hobby for him at the time, noting that the network then seemed like it “took care of itself.”

“There was good people in charge and they were doing what seemed to be the right thing,” Sechet told CoinGeek.com.

Sechet’s fascination with social infrastructures and peer-to-peer communication systems led him to work and develop cryptocurrency applications. According to Sechet, his shift to working with Bitcoin Cash after initially being attracted to resolving software issues in the legacy Bitcoin (BTC) network was a decision based on what “the main point is” for cryptocurrencies, in relation to the Satoshi white paper.

“More recently, there have been a lot of tension about, you know, should the Bitcoin chain be something of a settlement system for high value payments or should be kind of like cash, you know, new version of cash,” Sechet said.

Before August 2017 hard fork, there was “very strong disagreement in the community,” and Sechet believed “digital cash” made more sense as an argument, eventually siding with the community that adhered with a block size upgrade to resolve scalability issues in the legacy chain, effectively creating what is now the Bitcoin Cash network. For Sechet, this argument made more sense and hence fulfilled the original direction of the Satoshi white paper because the document “clearly described a peer-to-peer cash system, and within the paper it talks about payment, about replacing cash and all of that.”

“It doesn’t talk about completing it with settlement layers,” he said, adding that “there is actually a lot of aspects that exist in Bitcoins that are not even described in the white paper.”

Although he is not against the other features placed within the legacy Bitcoin network, Sechet said the white paper’s main point is digital cash.

“Digital cash is, I think, the most important, like it’s the killer feature. It’s like the game-changing stuff that is in there,” according to Sechet.

Asked about the current direction for Bitcoin Cash that Bitcoin ABC is helping develop, Sechet said the team wants to work on the technology that will scale the network. Currently, six teams of developers are working independently to achieve this goal, but Sechet said there’s still a lot of work that needs to be done.

“If you want everybody in the world to use it, we need to scale it by at least two orders of magnitude,” he said.

Sechet sees two aspects of development that the Bitcoin Cash network needs to become ready for the future: growing by two orders of magnitude and decreasing the confirmation time. According to Sechet, if a user wants a transaction to be validated, it should be ideally done in three seconds, giving the user a seamless payment or purchasing experience.

Sechet notes that for this to work out in the long-term, the community of Bitcoin Cash users and developers would “need to have a very high degree of confidence in the validation of a transaction within a few seconds.”

Reflecting on the need of the Bitcoin Cash development community to adjust its strategies, Sechet believes the community should change some of its practices, saying, “I think the community needs to become much more proactive. Right now many people in the community are acting in a reactive manner, it’s like ‘Oh there is a problem, we need to fix it’ right? And then you know, everybody jump in to try to fix that problem but there is an effect when you know everybody jump on the problem at the last minute, it tends to make the resolution of the problem slower.”

Unlike the BTC network which has only one “core” development team working on it, the Bitcoin Cash network has at least six decentralized development teams working together. Without a leader or a corporate entity mandating its decisions, proper coordination and communication may stand as a challenge to the leaderless Bitcoin Cash development community, which is mostly made up of passionate volunteers. To avoid this bottleneck, Sechet provides a lesson in software management: “get on with,” suggesting that whenever a problem like this arises, what people should do is focus on what they can contribute on their end, given their specializations, and “try to come up with a proposal for the next one.”

“Just being more proactive and less reactive would be, I think, a huge win,” he said.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Zac Cheah: Blockchain should be accessible for everyone

Zac Cheah: Blockchain should be accessible for everyone

What if you can pay for items and load up to purchase cryptocurrencies with the swipe of a card? A bold but nonetheless simple premise, this is exactly what Pundi X Labs has been doing. CoinGeek.com spoke with Pundi X Labs’ CEO Zac Cheah about his company’s mission.

With the onslaught of cryptocurrency and blockchain companies bootstrapping the crypto development scene, it’s hard to keep track of what’s what. Pundi X Labs is attempting to wedge into the increasingly complex crypto space with a simple solution: make buying crypto as easy as buying bottled water.

CEO Zac Cheah said his company’s efforts are “[…] trying to unlock the potential of blockchain,” with a campaign to reduce friction for mass adoption to ordinary users.

Since its launch in October 2017, Pundi X Labs has helped empower blockchain developers and token holders to sell cryptocurrencies at any physical stores in the world. Sharing his company’s vision, Cheah said they “believe that the blockchain can actually liberalize people owning bitcoin because it’s actually a way for people to go anywhere, to any store, to 7-11, to actually use our Pundi X POS device to buy cryptocurrency easily, it’s just like buying a bottle of water.”

Based in Jakarta, Indonesia, Pundi X Labs operates with a business registration from the Isle of Man. While there are a lot of other cryptocurrency and blockchain companies putting up some of the exact same things that Pundi X Labs offers, Cheah said their company is unique because “we have, we believe, is that we have a working product.”

The company is pushing with an on-ground strategy aimed at providing universal access to cryptocurrencies, anytime, anywhere. Pundi X Labs launched its Pundi X POS device globally last year, with several improvements to its synergized infrastructure lined up in its roadmap.

Asked by CoinGeek.com about his observations on the growing cryptocurrency scene and what it might look like in two to five years, Cheah had this to say: “I think it’s very important that you know, the blockchain technology is accessible for everyone,” adding that cryptocurrencies should not just be for “the privileged people, but also the normal people.”

“I think moving ahead, whether it’s coins or blockchain or developer ,we should try to focus more on the normal people, because now in reality, bitcoin is only being held by 0.1% of the population, and that is also our objective: to use a device and a card so that many people can own bitcoin,” Cheah said.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Roberto Capodieci: Blockchain is going to bring revolution

Roberto Capodieci: Blockchain is going to bring revolution

The revolutionary aspects of blockchain technology can be extended from its current use with cryptocurrency to other use cases that require facts and verifications. CoinGeek.com asked Blockchain Zoo’s Roberto Capodieci about what he sees as the emerging future of blockchain-based technologies.

Roberto Capodieci is a blockchain expert and infotech hacker, who started programming at 6 years old with his father as his instructor. Now a blockchain expert based in Asia, Capodieci is the first to apply blockchain to supply chain and trade finance.

In an interview with CoinGeek.com, the Nxt Foundation co-founder explained how blockchain can change our daily lives: “Blockchain is solving one problem for bitcoin but can solve many other problems. It’s going to bring a revolution in our life, as much as internet brought a revolution in our life. Blockchain is going to change the way that we operate online.

Basic services that once required tedious paperwork can leverage blockchain to optimize and secure their backend processes. According to Capodieci, “[in the next future] blockchain is going to move from an embryo stage that is now, to a natural full-working technology, and it’s going to be applied in how we live our life.”

Capodieci, who also works as a tech consultant for law enforcement agencies, provided an example of blockchain usage: “If the police officer is going to stop us on the street, is going to check our driver license status in the blockchain and is going to give us a fine for speeding, and register it in the blockchain. The court later, are going to check it in the blockchain later, see that it’s been digitally signed by a proper officer ask us to pay, then we’re going pay with a cryptocurrency on the blockchain. That’s why blockchain is going to be everywhere.

Capodieci specializes in lawful interception systems and big data analysis. His work with Blockchain Zoo and DeBuNe (Decentralised Business Network) has given him insight into open and decentralized platforms for tech. In Capodieci’s opinion, blockchain’s impact on government will be crucial in “eliminating corruption, making the process to flow fast.”

With blockchain, “there is no need to wait somebody to open a drawer find a piece of paper which somebody owns compromised. We are going to be guaranteed of the truthiness of data,” he said.

Recent projects launched in the blockchain startup space reflect Capodieci’s optimism. There is a vast space for innovation and disruption, applying blockchain to the most vital and critical components of our daily lives.

When asked about the security aspects of blockchain, Capodieci said: “Blockchain is a new technology, new invention, but it’s made with old technology. It’s like a new recipe made with old ingredients. Blockchain is made a peer-to-peer network, which is a network of computers worldwide where no computer is more important than the others, and it’s impossible to kill because if you shut down a computer somewhere, two more will comes up somewhere else.”

These advances in security principles are what hold and comprise the basis of blockchain’s usefulness. Because of its mathematical foundation, blockchain is more secure than second-layer software. “This (security) is guaranteed by the fact that it cannot be destroyed. It cannot be stopped. At the same time it uses mathematics as protocol for security, not software that can be hacked by hackers, that can contain bugs, but mathematics,” said Capodieci, adding that “mathematics is not an opinion, which is a guarantee of security and truthfulness.”

With blockchain technology, the future is secure and more open. Today, blockchain-based applications for digital identity, digital signatures, smart contracts, and other digitally-based records are sprouting up and rising to prominence like the Internet did in the past two decades. It is important to keep track of these disruptive developments and be informed. Major inroads in cryptocurrencies have led to global adoption, permission-less innovation, and decentralized development.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Oscar Darmawan: Anyone can use Bitcoin in Indonesia

Oscar Darmawan: Anyone can use Bitcoin in Indonesia, but not as payment

The ever-expanding market for cryptocurrencies has been variously called a fever by analysts. CoinGeek.com caught up with Oscar Darmawan, CEO of Bitcoin Indonesia, to check the temperature for crypto in the country.

As co-founder and CEO of Bitcoin Indonesia, Oscar Darmawan’s work in the cryptocurrency space is strategically positioned. His intimate knowledge of the market and how to straddle the tightrope between corporate vision and government regulation plays well for Indonesian crypto enthusiasts.

Asked about the status of cryptocurrency market in his country, Darmawan was quick to the numbers, saying: “Currently we have about 550,000 members registered in our site, and actually number of members that register in our site day by day is increasing quite a lot, around 200 new members has joined in our system.”

As the saying goes, it’s the numbers that speak. Indonesia’s burgeoning cryptocurrency scene has attracted investors from both within the country as well as its neighboring economies. Darmawan attributes this sudden surge in popular interest for cryptocurrencies in Indonesia to Japan’s decision to allow cryptos for payments last year.

“I think because Bitcoin is lately being legalized by the Japanese, and in many other countries or so, recognized as currency,” he said. “People in Indonesia want to catch up with this technology, because we have 260 million of people, that’s why a lot potential market in here.”

Darmawan believes the Indonesian demographic is particularly poised to adapt to cryptocurrency businesses because of their innate curiosity. “Many of them want to know, ‘What is virtual currency? What is all this issue about?’ So many of them register in our site, says they are going to take a look, want to see, how this technology actually works.”

Government regulation plays a critical role in any emerging cryptocurrency market. In Indonesia, Darmawan said its their own government that poses the greatest challenge to the crypto scene.

“They did not define clearly bitcoin or cryptocurrency as currency or commodity,” said Darmawan, adding that “[they] are actually having quite a big challenge because currency and commodity have different regulators. So from our company, we try to follow Indonesian regulation but if we don’t know who is our regulator they’re also another challenge.”

Recent moves by the Indonesian government to distinguish between the use cases of cryptocurrency have led to a gap in the market. Occupying a strategic position for the crypto space means a sense of corporate responsibility for Bitcoin Indonesia, which represents and connects majority of users in the Indonesian crypto market. Asked about his firm’s relationship with the country’s government, Darmawan said: “Of course all industries agree about regulation in cryptocurrency. I believe that for the business to go really big, we need to follow and support our government.”

The growth of the cryptocurrency business in the country hasn’t gone unchecked by its authorities. The Central Bank of Indonesia has recently pursued crackdowns on the use of cryptocurrency as payment solutions. Darmawan, however, clarified that Bitcoin is not prohibited in Indonesia, as long as it’s not used as an alternative payment method.

“As long as it’s not for payment, and people are using it for R & D or people are just buying it for asset like gold, there is no issue,” he said.

The Indonesian cryptocurrency market is alive and well despite regulations on its use as a mode of payment. Further development for the space is anticipated as major cryptocurrencies like Bitcoin Cash have made waves across Asia, despite severe regulation in countries like South Korea.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.