Interviews 27 December 2018

CoinGeek

GAP600 CEO Daniel Lipshitz: Bitcoin enables privatization of money

Daniel Lipshitz, CEO of GAP600, knows a thing or two about cryptocurrency. His company has been working in the Bitcoin industry since 2015 and has already produced products that allow real-time deposits and instant payment processing, and provides risk-mitigation to ensure zero confirmation transactions go through.

Speaking to Coingeek’s Becky Liggero, Lipshitz proclaimed his belief that Bitcoin will lead to economic freedom. He said, “It enables the privatization of money. Money is an absolute integral part of our economy and our lives. And economic freedom requires competition and privatization of services. So Bitcoin enables private money, it’s very simple as that.”

The current role of the state in administering currency is not the only option, the GAP600 CEO explained. “It’s something we just been born into and we accept, but it really shouldn’t be that way. There’s no justification, we don’t accept any other monopolization by government services, possibly the army and the police we accept, but there’s no reason why money should be monopolized by the government… We’re just used to the governments running all our money, we’re like OK.”

To get there though, the cryptocurrency space needs to increase its capacity and gain adoption. To get there, Lipshitz says, “We need the big earth movers, we need the big enterprises, we need the big social networks, and they will, we will get at the table with them once we have capacity. And I don’t see why the banks should not get involved. It is absolute risk management. There is a movement, there is direction in this space, and they should embrace it, and they should be covering their risks for sure.”

Lipshitz is optimistic the industry will get there, because of the progress that’s already been made. “I mean, it’s going to happen. The way you can tell that everyone knows it’s going to happen is because there’s an enormous investment and speculation. The services to invest have advanced enormously in the past five years. Custodial services, enabling enterprise and financial to invest. We now need the actual use case to catch up.”

GAP600 is doing its part to get there, by providing a faster, safer experience for customers. Lipshitz elaborated, “We provide a very specific service for zero confirmed transactions, when the transactions publish, it’s not considered confirmed and there’s a small risk of it being failing or double spent, and we provide a business service for guaranteeing those transactions, so exchanges or payment processors who want to offer instant confirmations can subscribe to our service.”

Cinnober has already bought in to this plan, partnering with GAP600 earlier this year, and Lipshitz encourages more companies in the space to get involved if they want to achieve Bitcoin’s potential. He says, “Instant confirmation is an absolute must, customer experience is an absolute must, so what I would say to wallets and service providers in the crypto space and exchanges, you need either do it yourselves, or subscribe to a service like ours. “

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

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