Bitcoin apps should seek to accelerate the inevitable

PeerSend on CoinGeek New York: Bitcoin apps should seek to accelerate the inevitable

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Jeffrey Baek, co-founder of Peer Technologies, presented their new product PeerSend that allows users to ‘Send Money Like Magic’ over the internet. PeerSend launched four days prior to the presentation at CoinGeek New York as a Google Chrome browser extension. The initial release highlighted any paymail on a website allowing users to send Bitcoin SV easily.

On October 5, PeerSend released their Twitter integration which allows seamless money transfer via (cheekily) a lightning icon. Jeff showed off this functionality during his presentation by sending Tesla CEO Elon Musk $100 of BSV live:

In my opinion Twitter will somehow nuke this functionality from working on their domain and shadow ban these tweets before allowing an app like this to go viral, as it directly opposes Twitter CEO Jack Dorsey’s BTC position and his Lightning Network investment. That stated, the point of Jeff’s presentation was that applications like these consume the Internet, not the other way around.

Another upcoming feature in PeerSend is the ability for users to set their home address in the app and be able to purchase goods on sites like Amazon and Best Buy without signups. Iterating on his stance against redundant logins, he announced that PeerSend users will be able set their address once and buy products across many merchants’ web sites. PeerSend will handle the currency conversion, order placement for you.

Source: CoinGeek New York
Source: CoinGeek New York

Next Jeff stated, “We believe plugins are what changes the Internet forever.” He showed off a few template buttons that could be used from the extension that can be dragged and dropped onto existing tech platforms (like Medium). He finalized the presentation with a demo of setting a paywall on Medium where readers would have to pay $1 in BSV to unlock the full article.

Source: CoinGeek New York
Source: CoinGeek New York

This feature was spurned from his alluding to how 99.9% of Internet users are not developers, and how the limits to Bitcoin adoption is the need to develop Bitcoin apps. Clearly Jeff is attempting to solve this issue by providing easy to use toolsets that any user can quickly leverage to adopt Bitcoin payments.

Jeff ended his presentation by crediting Dr. Craig Wright from a quote he gave in an interview from 2014 that we “what we want to do is the idea of Peer Bank, the social banking function.” Jeff feels this paradigm with Bitcoin subverts existing tech giants like Ebay and PayPay by being a “token of social interaction.” The ease of use “changes the nature of human interaction on the Internet.”

Currently friction-less payments are completely absent from the Internet due to the inability to include the legacy financial and banking system in it. This problem was the very justification for Satoshi Nakamoto’s white paper in 2008 that lead with the hassle of online payments.

Source: Bitcoin whitepaper

13 years later we are finally seeing applications that implement Satoshi’s Vision and break these legacy barriers. The question on everyone’s mind is—is it too late?

Watch CoinGeek New York 2021 Day 2 here:

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