Kate Hiscox: Providing institutional financial tools with Bitcoin SV

Institutional investors and banks will play a key role in driving adoption and finding huge uses for Bitcoin. Kate Hiscox, CEO of DRIVE Markets and DRIVE Pay, is focused on providing services on the Bitcoin SV (BSV) that can bring these groups into the fold. She spoke with our Becky Liggero at the recent CoinGeek Toronto 2019 scaling conference about how she’s achieving that goal.

DRIVE started with DRIVE Markets, a product which Hiscox explained, is attempting to provide all the tools institutional traders have become accustomed to, but for cryptocurrency trading. “DRIVE Markets is really designed to bring traders over from the forex markets to trade crypto,” she said. “Forex traders can make a lot more money trading crypto. But they’re used to certain tools. They use high frequency algos (algorithms) for trading and so on, so DRIVE Markets is built to offer them that experience.”

So far, it looks like it’s been working out, and DRIVE is growing as a result. “I’m very happy to say our volume’s doubled since we opened just last month,” she told Liggero. “Very, very exciting. DRIVE Markets, you’d more liken it to, say, BitMEX versus a Binance, for example.”

Where DRIVE is looking to make a huge difference is by providing an evolved cross border payment system for banks. “DRIVE Pay, we saw an opportunity, something really that Ripple established, and showed to everybody that there’s an opportunity to improve cross border payments through efficient clearing and settlement,” she said. “Ripple is great, but we felt it created some unnecessary bottlenecks by not using existing banking systems, and in particular, SWIFT. SWIFT is used by more than 10,000 banks in 200 countries. They send 30 million messages a day. So all the banking systems speak to it. So DRIVE Pay operates in a very similar model to Ripple, but instead of using our own sort of unique payment messaging system, we’re actually using the same schema as SWIFT.”

As opposed to Ripple, which needs banks to totally adapt to a new system, DRIVE Pay is playing into their strengths. “So that means, for more than 10,000 financial institutions around the globe who want a solution, it would be very easy for them to adopt DRIVE Pay” she explained. “And that’s to say, it’s really for bank wires right now, could take up to 24 hours and more actually to be transmitted cross border, with DRIVE Pay, you’re about to do it in seconds, and again, very easy adoption for clients, because we use the SWIFT network.”

The choice to work with BSV came down to plenty of reasons, and as Hiscox explained, it just made a lot of sense for their needs. “Bitcoin SV have proven they have an enterprise mentality,” Hiscox explained. “They can deal with the kind of scale that we expect DRIVE Pay to deliver. We felt pretty good about their coin as a bridge currency in the same role as XRP is for Ripple. And they’ve just been a tremendous partner.”

How Kronoverse revolutionizes multibillion-dollar gaming industry with Bitcoin SV

By now, everyone even remotely connected to the blockchain industry should realize the power that the technology offers for providing better transparency, better record-keeping and better peer-to-peer (which includes B2B and B2C) interactions. The capabilities of blockchains are only limited to one’s own imagination and, with the recent success of Bitcoin SV’s (BSV) Quasar upgrade to expand block sizes, BSV is leading the way toward more blockchain adoption. Kronoverse, a gaming and esports platform, recognized the potential of BSV to help the multibillion-dollar gaming industry and is building its entire company around BSV technology.

In a recent presentation on Kronoverse and why blockchains are important for gaming’s future, Kronoverse’s Adam Kling and David Case provided a detailed overview of how BSV will change competitive gaming. With so much at stake — millions of dollars in prize money each year — it’s important to ensure that nothing about a game competition is left to chance. The community is forced to assume that everything is operating legitimately, but the back end of gaming operations remain hidden away and private. BSV is now helping to change this. (1:15)

Game data can be mapped to the blockchain in order to give new benefits to players and developers. Not one company would own the data — it would be accessible to everyone. Today, the back-of-the-house operations are unverifiable and proprietary, forcing the gaming community to trust that everything is legitimate. By moving games to the blockchain, actions can be chained together to provide proof of all activity and also to provide better transparency.

Using BSV would allow the permanent storage of all achievements, all game histories, all wins and losses and all purchased or won items. It would also facilitate the ability to view past games, publish new content and to watch live games easily from anywhere. It can also create new revenue streams that were never possible before.

Kronoverse is making this possible and is revolutionizing the gaming industry. Through systems such as its Kronicler fair witness agent, player actions are viewed and additional input can be added. This allows escrow, time-stamping, flow control, random number generation and more to be added.

This is possible on BSV because of the blockchain’s versatility. Every game is comprised of a series of transactions, or data, and creates one straight chain of events that represent the specific game. Every move becomes a signed Bitcoin transaction, allowing a permanent record of every individual action in the game. (10:14)

CryptoFights, which is backed by Calvin Ayre and others, is a live version of a BSV-based game that has the look and feel of any other battle game. It operates just like any other game, but incorporates the strength of the BSV blockchain to offer a better solution that puts the true gaming power in the hands of the players where it belongs.

BSV is revolutionizing the way the world views blockchains and Kronoverse is revolutionizing the way the world views gaming, thanks to BSV. With the proven capability to offer large block sizes of over 2 gigabytes, BSV is quickly becoming the ideal blockchain solution for businesses around the globe.

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Kate Hiscox: Bitcoin SV and the payment networks of tomorrow

Kate Hiscox is a serial entrepreneur with ambitious plans for her trading platform DRIVE Markets. With a background in supply chain businesses, Kate has recruited a team with wide experience of FX (foreign exchange) trading to create a suite of products that will work together to integrate fiat and crypto (CX) trading.

DRIVE recently received investment from Calvin Ayre, the owner of CoinGeek and a leading supporter of Bitcoin SV, who said that he likes “entrepreneurs who can cut through the noise and focus on technology that works. That’s why I like DRIVE.”

Hiscox plans to use the SV blockchain to record transactions: “the Bitcoin SV blockchain will be used by DRIVE Pay for our ledger specific requirements and BSV will be used as a bridge currency.”

On this week’s CoinGeek Conversations, Hiscox explains the thinking behind her plans to grow her business: “traders want to be able to trade crypto but they don’t have the right exchange [or] the right tools in place to do that. So we basically packaged something that would entice them.” That meant providing “the right infrastructure and trading experience so that ForEx (foreign exchange) traders can come over and trade crypto in a familiar environment.”

“The exchange business is very revenue-intensive,” Hiscox admits: “in launching multiple products that complement each other, by making the first one an exchange, the company will be profitable this year, in a very short amount of time.”

In creating a suite of new products, DRIVE has set itself some ambitious goals, but Hiscox is clear that each product must contribute to the bottom line: “anything we build has to make sense, has to grow revenue, has to complement the products that we already have.”

While some in the Bitcoin world are working on visionary projects that may not come to fruition for years, Hiscox is focussed on more immediate and more conventional business goals: “you can dream up all these wondrous things, but if you don’t have a customer at the end of the day and you’re not making any money, eventually you’re going to go out of business …That’s my thing, I think it’s evolution versus revolution.”

Hear the full interview with Kate Hiscox on this week’s CoinGeek Conversations podcast:

You can also watch the podcast video on YouTube.

Please subscribe to CoinGeek Conversations – this is episode 23 of a weekly podcast series. Just search for “CoinGeek Conversations” wherever you get your podcasts, subscribe on iTunes, listen on Spotify or visit the CoinGeek Conversations website.

Overhauling ‘arcane’ finance sector with Bitcoin SV-powered DRIVE Pay

Overhauling ‘arcane’ finance sector with Bitcoin SV-powered DRIVE Pay

Yet another business has chosen to build its enterprise product on Bitcoin SV (BSV), the only project that follows Bitcoin’s original design and protocol. DRIVE Markets is an institutional cryptocurrency exchange that launched several weeks ago, with a goal of attracting foreign exchange traders to the crypto markets.

DRIVE Markets is the first product rolled out by financial services company DRIVE as part of its multi-product approach to overhaul “the most arcane areas of the financial industry,” founder and CEO Kate Hiscox said in a new interview. Markets will provide the key infrastructure for DRIVE’s soon-to-launch services: DRIVE Pay, which targets cross border clearing and settlement; and DRIVE Banking, which promises to be a “business banking game-changer.”

“With Markets, we saw an opportunity to bring FX traders to the crypto markets by providing the tools and high-frequency trading capabilities they’re familiar with. FX trades $5 trillion daily and we’re set on bringing some of that volume to crypto,” Hiscox said. “As a business, DRIVE Markets has huge potential but we felt there were further opportunities to leverage our FX and CX capabilities across other products.”

To entice the $5 trillion forex market, DRIVE Markets has partnered with forex giants like First Derivatives and MetaTrader. The company has also secured an undisclosed investment from entrepreneur Calvin Ayre, founder of Ayre Group and one of the biggest supporters of BSV, for DRIVE Pay.

DRIVE Pay, according to the executive, is a multi-protocol, real-time remittance and gross settlement network for crypto and fiat currencies. The platform will run on the BSV blockchain, which will act as the anchoring ledger for the payments network, while the BSV crypto will be used as an intermediary currency to enable liquidity.

Bitcoin SV is the perfect fit for DRIVE Pay, particularly since the BSV network has the scaling plan needed to support not just global payment networks, but other enterprises as well. Hiscox explains:

“We looked at existing blockchain networks in terms of capability and token characteristics and the Bitcoin SV teams (including nChain) impressed us with their roadmap for massive scaling of the BSV blockchain, enterprise-first approach, and regulation-friendly mindset. They also understand that in order for big business to adopt a solution, you have to meet certain expectations and service level agreements. The Bitcoin SV blockchain will be used by DRIVE Pay for our ledger specific requirements and BSV will be used as a bridge currency, similar to XRP.”

The DRIVE team will be on hand at the upcoming CoinGeek Toronto scaling conference on May 29-30 at the Carlu to talk about DRIVE Pay. If you want to know more about DRIVE’s products and services and why they chose BSV, there’s still time to register for the event, and you can get a discount if you pay with Bitcoin SV via Coingate.