Jimmy Nguyen talks future of payments with experts at CoinGeek Toronto 2019
CoinGeek Toronto 2019 was probably the most successful Bitcoin conference so far this year. It brought together experts working to continuously improve the blockchain and bring it closer to mainstream adoption, as well as thousands of attendees anxious to hear what’s in store for cryptocurrency’s future. One of the presentations targeted the very heart of what digital currency is all about – the subject of an alternative to fiat – and included a trio of individuals helping to shape the future of Bitcoin SV (BSV) in the payments realm. They took the stage with Bitcoin Association President Jimmy Nguyen and shared their thoughts on where we are and where we’re going.
One of the panelists was Alex Agut of HandCash. The CEO explained that, while HandCash began as a BSV wallet, the company has moved well past its initial offering. In addition to having created the POP! app to speed up payments for merchants, HandCash has already launched another important app, Cashport. Cashport is a relatively simple application that allows anyone to incorporate a BSV payment method to their Android or iOS app or web platform. It allows users to connect their HandCash account directly to the platform in order to create a revenue stream that can be used for purchases, subscriptions, tips, “likes” and virtually anything for which the user wants to receive payments.
Agut points out that much more is in the works. There will be additions that make accessibility for developers and businesses much easier and which will help spread mainstream BSV adoption across the globe.
Elizabeth White, founder and CEO of The White Company, was on stage, as well. The company’s White Wallet is the first to allow crypto enthusiasts to use their holdings to make purchases on platforms such as Amazon, Steam and Uber, among others, but The White Company is much more than just a crypto wallet provider. It has created a platform that is now used by companies such as Playboy for its subscription service, Kodak for its digital rights management and many others. It is even working with 2020 Democratic presidential candidate hopeful Eric Swalwell in order to develop a platform that would allow for campaign donations to be registered and tracked to ensure regulatory compliance.
White added that the company may offer support for various digital currencies, but that it has a preference for BSV. This is due to two simple reasons – BSV transaction costs are significantly lower – sometimes 1000% lower – than those of Bitcoin Core (BTC), and BTC transactions sometimes get held up for three days before they can be reconciled.
The third panelist to participate in the discussion is Harvard-educated Zdravko Loborec. Loborec is the founder of REM Loyalty, a global rewards program that can be used by any entity in any industry, anywhere in the world. The program helps to build brand loyalty and, because of BSV’s global reach and easy onboarding, makes it the perfect solution to increase a company’s customer base. Among many others, one of REM Loyalty’s customers is Canada-based RentPerks, which allows both landlords and tenants to be rewarded for achieving certain goals in the program.
All of the panelists agree that BSV, and crypto in general, has one major characteristic that sets it apart from all other currency types. Crypto is the only truly global monetary solution. If someone from the US visits France, for example, and pays with a US-based credit card, any currency fluctuations from the time the card is swiped to the time the bank reconciles the payment could cause the cardholder to pay more. However, in that same scenario, a crypto payment is instantaneous and not subject to changes in the foreign exchange markets.