Ryan X. Charles: Paymail solves Bitcoin’s identity problem

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Shortly before the recent CoinGeek Toronto 2019 conference, Money Button, led by founder Ryan X. Charles, announced Paymail exclusively for Bitcoin SV (BSV). To explain how significant this is to the Bitcoin world, he joined CoinGeek.com’s Becky Liggero on the sidelines of the event.

In short, this is a big deal that makes so many new things possible. “I believe we’ve basically solved the identity problem,” he said. “I mean, what we’ve done is create a standard protocol, that anyone can use, that allows you to do basically everything related to identity.”

It goes beyond just identity though, as the possibilities of what can be done on the BSV blockchain have now opened up greatly. “I want to be able to do things like tweet on the blockchain and have people follow me. This lets you do that,” Charles said. “I also want to be able to do other things like, come up with actual legal agreements with people, have people sign them by swiping Money Button, and agree, and I know that I’m engaging with who I expect because it’s their Paymail. That is how the communication occurs, that is the thing that you’re signing it with.”

Next the two talked about the future of scaling on the BSV blockchain, which with the Quasar upgrade in July 2019 set to increase blocksizes to 2GB. This is important to enterprises, Charles said. “Well, I mean, even for one company, you start running numbers on what it would mean to actually use this in a real business, individual companies can often need terabyte sized blocks just by themselves, depending on what they do,” he explained. “So we need to scale massively because we’re going to put more than just one company. We’re going to put the entire world’s economy on the blockchain. So the reason why that matters is, it’s not even just payments. You actually can put real data on the blockchain too, and so the sizes start getting very, very large. If you need properties like, I really want this contract to be encrypted, but also stored, permanently and immutably, so that no one can alter it after the fact, you put the actual contract on the blockchain. That takes data.”

The CoinGeek Toronto 2019 conference was a momentous event for Bitcoin, with several developers unveiling new technology that will help real businesses work on the blockchain. Charles explained what it meant to him. “What we’re doing is, we’re in the real world,” he said. “We’re real businesses, we’re solving real problems for real people. The rest of the cryptocurrency industry, by and large, I don’t mean to offend all of them, but many of them are not really in the real world. They’re in the crypto world. They’ve created their own world and their servicing customers in their world. That’s just not the world we’re in.”

Watch Ryan X. Charles’s presentation at the CoinGeek Toronto 2019 – Main Conference Day:

https://youtu.be/EJwCslKtqzE