One of the key missions of Relay, the company founded by Jack Liu, is to make Bitcoin so easy to use that the end user doesn’t even realize they’re using it. To talk about how they’re achieving that mission, Liu joined CoinGeek.com’s Becky Liggero on the sidelines of CoinGeek Toronto 2019.
To get the world using Bitcoin, businesses like Relay need to make it incredibly easy to do so. “We believe in a future where everyone’s been using Bitcoin, but people still need to get Bitcoin and sell Bitcoin,” Liu explained. “So if you think about today, you have to separately go to an exchange where you first buy your Bitcoin, then move your funds to a wallet to use it. We kind of immersed that process into one so you don’t feel like you need to interact with Bitcoin whatsoever.”
For their superwallet RelayX, Liu’s team has chosen to use the Bitcoin SV (BSV) blockchain. Liggero asked him why. “BTC, we noticed had changed its profile since a few years ago, where it used to be very cheap, it used to be what BSV is today,” Liu responded. “And so when we’re looking for a blockchain, the important part is the blockchain that’s going to be used by millions of users, because we want to be as successful business. We want to make sure that they’re using a chain that is going to be cheap to place transactions on, and its fast, because people are always making payments in a spiffy. So, it came to a very clear understanding that Bitcoin SV, along with its future upcoming scaling plans and further scripts is going to be the choice for RelayX.”
One of the exciting new developments announced in Toronto was Paymail, the new email address system for sending BSV transactions. “Those of us in Bitcoin that are using addresses, we’ve gotten used to it, we kind of forget how crazy it was to use addresses our first time,” Liu said. “And for new users, as we extend the whole ecosystem, Paymail is going to allow you to use RelayX, or any app, but starting with RelayX, you can enter peoples’, essentially like email addresses. Just like you can send to yahoo.com, gmail.com, now you can imagine a world where I can send payments to Alex@handcash.io. And likewise, he can send payments to firstname.lastname@example.org.”
In the RelayX presentation, Liu announced USDR, and he explained it more for Liggero. “That is a gift card issued by Relay, that is redeemable 1 to 1 for USD in the RelayX network,” he said. “So you can pay fees for that, but more importantly, what that creates is essentially a USD like token on the BSV blockchain. So Tokenized just came out, and we’re excited to be one of the first, if not the first tokens issues on Tokenized.”
Watch Jack Liu’s presentation at the CoinGeek Toronto 2019 – Main Conference Day:
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