Mass Adoption of Crypto Is Coming (Crypto Investment Summit 2019)

hey guys ben here with bit boy crypto
and Quinn with Mid Earth crypto here we
made the trip out here to CIS in Los
what have you thought about the conference
it’s been nice I like to Tim Draper was
proud of my favorite Speaker of the the
whole event he had a lot of good things
to say about governments competing for
citizens instead of you know businesses
like they do in a free market economy
and it was a really interesting thought
he also had a cool thing an idea for how
to tax Bitcoin and that was through
micro transaction so those two concepts
were the my favorite take away from the
conference. wow that’s really great I
unfortunately missed Tim Draper I didn’t
get out here in time to catch that
yesterday morning but I’ve been a very
interesting conference since I’ve been
out here talked to a lot of very
interesting people we want to say a big
special thank you to Tron for sponsoring
us to come out here you know Tron’s
doing big things you guys check out
their website Tron something you guys
know the Tron website Tron.Network
you guys be for real y’all know the Tron
website so yeah they’re on has been
doing a lot of work with us sponsoring
us to go to different events and talk
and get to network and talk to all kinds
of different people so you know
definitely big shout out to them so
we’re actually gonna show a couple
interviews that we did one you did
yesterday yeah so give Bitcoin.IO I was
moreso thinking about it as a way to use
their new people into receiving Bitcoin
just as a way to not have to deal with
private keys and stuff so that was
interesting I’m gonna be using it for
Christmas you know just giving guests a
family and locking up some Bitcoin and
you interviewed Feo. yes
Feo basically what they’re doing
is they’re getting rid of the
traditional way that public addresses
are done so we’re gonna simplify the way
that you send money to different
addresses they’re working with a lot of
different wallets including the edge
wallet the bread wallet also coinami so
all kinds of good wallets and what
they’re doing is is you can kind of look
at it similarly to like what HTTP did
for the internet like there’s a whole
protocol behind that people don’t know
they don’t understand they don’t care
about all they know is to plug the
address and so with Theo they’re trying
to do the same thing with public
addresses so we thought that these were
two of the coolest companies that we’re
here because they’re really trying to do
things that we think are gonna help mass
adoption what you know we’re big on
so who was your favorite person meeting
on the whole event I have an idea but go
ahead and say uh I really had a good
time meeting Kathryn Coley of Binance
she’s really awesome we got to have
lunch with her I actually just sipped on
a free water so but I made sure to thank
you for that free water so yeah Binance is doing big stuff we’re gonna
have we were supposed to have her on for
an interview but she actually had a
flight she had to go catch so she’s
gonna be on the show down the road she’s
already committed to that and you’re not
getting out of it Kathryn this time
flight or no flight so tonight I guess
we’re gonna go do the the boat ride
around with the influencers to get some
interviews there see what everybody is
thinking about the space how they enjoy
the conference and uh yeah go from there
that’s it enjoy these interviews
hey guys we are here with David from
epic they are working on Pheo can you
tell us a little bit about what Pheo is
sure the feel protocol is gonna do for
blockchain what the HTTP protocol did
for the Internet it’s a decentralized
service layer that makes blockchain easy
to use across every single token or coin
eliminates the need for users ever to
have to see or know to public addresses
enables users to do things that are
really not possible today like send
requests for payments and to include
information metadata with their
transaction a note and order card an
invoice and do that identically across
every token or coin awesome so you set a
lot of words that probably would be
confusing to let’s just say someone that
notes absolutely nothing about crypto I
understand what you’re talking about I’m
sure my viewers understand what you’re
one issue that Quinn and I have found
when we do interviews with people that
don’t know anything about cryptocurrency
is just it’s just that they don’t know
anything about this entire space so with
what you guys are building I think it
makes sense for people that are already
in crypto how do you feel like what you
guys are doing can help onboard new
people that don’t know anything about
crypto yeah so imagine trying to explain
to somebody who doesn’t know anything
about crypto today what it takes to send
Bitcoin or aetherium and and their
reaction when you tell them what it
takes and how risky it is if they
actually make a mistake that’s pretty
scary and confusing with the Fiat
protocol when it’s live and fully
implemented the story will be you can
now send money like you send email
that’s it you can send money and you can
request money like you use an email
address and you can you put include a
note along with that transaction so
that’s how easy it’ll be with Pheo it
becomes very easy to explain to them and
people are like oh I can send money
using something like an email address
that’s pretty cool how does that work
yeah people are definitely already doing
that with you know non blockchain
solutions with vin Moe PayPal there’s a
type of things that people understand
like you just put in an address and you
know whether it’s you know looks like an
email address or whatever I think with
crypto where people get real confused is
they have a public address and then a
private key and I think the
normal person just cannot wrap their
head around kind of the way that that
works so that’s definitely something I
think it’s good so what wallets are you
guys already integrated with are there
any others that you’re looking to
integrate with in the future yes so we
have 28 industry partners 25 have been
announced land ask the other three soon
these partners include companies like
finances trust wallet finance is
actually an investor in our project
shape shift edge Konomi my crypto
Bitcoin comm and many others that are
working on and planning to integrate the
Pheo protocol many of them have already
done an initial light integration for
our fee o address pre sale people can
pre reserve their feel address now in
advance of our main at launch at
addresses dot fee o dot foundation and
they can actually do that within wallets
like edge and cry no me and Trust and
others that have already enabled this
and several others are in the coming
soon static category that will have the
integration live very very soon ok so a
lot of that there are other solutions
out there that do this but the way it’s
explained to me is there kind of like a
third party you got to work with another
company to get this going you guys work
directly with the wallets and they’re
all integrated like you could send if
you have and these are the X this wallet
is when you you guys work with edge edge
wallet night they both start with E guys
give me a break ok but let’s say edge
wallet and coin o me like they sync
together like you’ll be able to use one
address to send back and forth between
people that have those two wallets does
that make sense right so within the
walled garden of a wallet or in exchange
they can do whatever they want and
before the world wide web became really
popular you had companies like American
online and prodigy that created these
really user friendly ecosystems that
were walled gardens inside of their
walled garden it was user friendly but
the outside of it it wasn’t the field
protocol again back to http is that
protocol that sits between wallets that
allows a user a user experience in a
decentralized way between wallets that’s
not possible today
and so yeah ultimately it works between
any products because every product in
the world will grab the api’s and the
software development kits that feel
provides they’ll be completely open
source and available
to integrate the Pheo capabilities into
their products you know it’s very
interesting a lot of people in crypto
they talk about the Netscape moment
everybody’s looking for the Netscape
moment because that was the thing that
tied the entire Internet together and it
made it where you know AOL wasn’t the
Internet I grew up thinking AOL was the
Internet you know when I started using
the internet about the seventh grade
like I thought AOL was the internet I
try to explain it to to whippersnappers
today and I tell them you know it’d be
like if you thought Twitter was the
internet like that’s that’s kind of what
it’s like but I like what you guys are
doing and how you compare it to the HTTP
solution because it wasn’t just Netscape
there were a lot of moving parts along
with Netscape that kind of gave the
internet that usability and it’s
definitely cool you guys you guys are
working on and Netscape was is the user
interface for the HTTP protocol right
without HTTP Netscape doesn’t exist it’s
leveraging hypertext transport protocol
to enable a web browser and in the same
way we’re not a wallet we enable wallets
through our prayer our protocol and you
know users use IP addresses all the time
every day very few users know what an IP
address is and they um rarely see them
public addresses will still exist but
there’s no reason people have to see
public addresses and so we are trying to
create that Netscape moment by enabling
that sort of a usability protocol that
can abstract away the complexities of
the underlying protocols the underlying
protocols all the ones that exist and
will exist in the future are critical
plumbing to actually make it work in the
same way underneath the web browser is a
lot of critical plumbing and more
complex protocols and software but users
actually don’t have to know anything
about those right that’s the way
blockchain needs to be and it ultimately
will be with a protocol like feel that
is really great I’m definitely impressed
what you guys are doing there I think
there’s something that helps with
adoption that can help onboard new users
and make things simpler so definitely
thank you for your time thanks for
joining us learn more cof IO dot
foundation is the main site and you can
see demo videos and ever all the
information is there at Fionna
Foundation thank you very much
guys Quinn here with mineral crypto and
Corey klippstein boy klippstein I don’t
know his clips tin phones right give
Bitcoin dot-com aiyo aiyo aiyo alright
give me a quick rundown elevator pitch
up what is good there you go what we
like to say is give Plus time-lock plus
educate equals Bitcoin err and this is
basically a scaled evangelism platform
where you if you’re into Bitcoin you
want to get friends and family into
Bitcoin you can give your cousin Jenny
$100 worth of Bitcoin you time lock it
for minimum one-year maximum 5 years so
she can’t sell it for ripple or like USD
coin or something like that and and then
over the next 12 months we give Jenny an
incredible education sculpted by people
like John Pritzker and Safety animos
since Stephane Rivera and Matt O’Dell
and kind of like the best the best minds
in Bitcoin to try to get them hooked to
try to get them understand it and try to
get them to go down the rabbit hole
faster so yeah that’s it that is taking
a bit corners I have a question so you
say you give them Bitcoin right and you
lock it in a time contract I assume and
that yeah they then are educated
how are you giving them the Bitcoin
because we’re doing right now at or
where we go around interviewing people
and one of the biggest points of failure
that we found even with people that are
willing to accept Bitcoin is the process
of downloading the wallet yep the
registration the private keys all that
is just created I’ve had three or five
out of ten people that will just stop
halfway through the process and leave me
so yeah how will you actually in the
Bitcoin basically we try to remove as
much friction as possible so we’re
really optimizing for safe and easy and
that does mean using a custodian on the
back end okay the benefit of that is you
can give Bitcoin you know I can be at
this conference and as soon as we’re
live here in the next couple weeks I
could give you know $1,000 with Bitcoin
and ten dollar increments to you know a
hundred people ten bucks each only the
ones that actually sign up for an
account and accept the gift only then
does the transaction go through so it’s
not like you’re wasting your wasting it
exactly that’s the problem with the
paper wallets or then you know maybe you
have to like maintain your key right the
gift is gone you don’t own that Bitcoin
you have no access to it after they
accept it’s like a double opt-in gift
and so how do they receive it just
through an email registration
yeah so all you need is somebody whose
email address okay yeah no KYC kyc on
the receiver side okay but it’s pretty
prime trust has a you know a good
database and they’re hooked into
everybody so it’s actually just a
license upload so just email sends them
a contract that they sign up for him and
yeah just like usual you know except
checkbox terms and conditions and to
create a username but this is a way for
they’re gonna be on the street and have
it quickly occur and super fast that’s
also super fast yeah it really is like a
mini to mini evangelism platform that we
built it’s like a utility right we think
about this a lot like like Twitter or
something like that it’d just be like
that e is that easy and who is weak when
you say we’ve built it who’s a tech
company yeah yeah I mean it’s its myself
got a CTO got a CP Oh had a product
who’s you know those guys both have
multiple exits a CTO is built like a two
billion dollar revenue business okay you
know as a founder how long you guys been
working on the project together we had
the idea
April 10th so six months ago leap and
then yeah just kind of like we we broke
ground after so we did the designs and
like May June and we broke ground on the
coding July first so yeah and as far as
where you guys had to launch point right
now you think you know so we’re in alpha
right now so we have about 20 people
banging around and sending us bugs and
stuff and I like going through those in
Trello as one does and then hopefully by
next week we’ll actually have
transactions live and we’ll open the
beta which is about a thousand people
that have signed up right
we’re here at CIS so if you’re watching
this like live right now or you know as
soon as this airs if you go to see is
not give Bitcoin dot IO you can actually
get into the beta and be one of those
first thousand people use my referral
link there you go yeah you will have a
referral link will also give you one and
then we’ll go live to everybody probably
in like two to three weeks to three
weeks so in time for Christmas yes
that’s big deal is that yeah so this is
actually a really good point and I’m
glad you brought it up so it is
definitely there is a give side to the
platform but we actually think most of
the transactions will actually have
happen through the get side gets them so
you can get Bitcoin you can put it on
your wish list
you can tell all of your friends and
family that you don’t want a sweater you
want bitcoins a graduation wedding
Christmas whatever will we say you know
go fund yourself with a deadline and
then the people could just send it the
same way yeah so a question if you’ve
already registered you’re signed up and
you have your coins locked in custody
then I received more coins to this
yeah yeah so it’s not interesting
account yes a custodial account crime
trust it’s a Bitcoin savings I need to
do that for myself just like it’s been
my own Bitcoin people talk about it like
a CD or like a surety bond or something
like that now so the third way you can
use it so you can give you can get you
can also purchase for yourself and you
can you know you can use the time lock
or not right and so we already have some
people playing around and they’ve come
up with a hashtag called hashtag proof
of Hottel okay which is basically like
you can buy Bitcoin for yourself
lock it up for five years and then post
on Twitter and gachy that you are
actually harder moved in yeah okay that
should be fun we’ll see how it goes
do you think that this is gonna be
something that catches on as far as I’m
already the way I think about is a
savings account absolutely like yeah
keeping myself from spending my own
Bitcoin because for me I’m in the
collection phase right now with the long
term thought of you know five ten years
is when I use this but yeah I often find
myself like okay maybe I’ll liquidate
some to pay bills the idea of locking it
up against myself is great yeah I mean
we’re not gonna push it super hard
because like the education is all about
I mean we really want to push people to
be full bitcoiners and take them on the
path towards self sovereignty so we do a
lot of Education about cold storage know
it’s privacy you know Bitcoin only coin
Bitcoin only 100 percent yeah we
wouldn’t recommend anyone do a
disservice to their friends by giving
them don’t all coins all coins so we
call them a maximalist to the poor I
don’t know I mean that’s I’m a Bitcoin
er yeah a bit corner you told me
whatever you want you having etherium no
no no is yeah I mean it’s really just
like you know money trends toward one
and network protocols trend toward one
agree sure yeah if you look at like you
know OSI versus tcp/ip like obviously
OSI was like way better but tcp/ip was
already entrenched so I mean it’s layer
1 of the Internet
okay tcp/ip you
you know modems and stuff like that okay
yeah and you know something can’t just
be a little bit better or even ten times
better it needs to be like somewhere
between a hundred and a thousand times
or veterinary to unseat the incumbent
the incumbent right when when it comes
to like a money or or a network protocol
and Bitcoin is both and so yeah I mean
the way I see the place the space
playing out like Bitcoin has a potential
market size of like 100 to 250 trillion
right I would say like at least the
coins that exist today maybe they’re
upside combined is maybe a trillion
right for all of them combined okay so
if your project is looking at a one in
five year timeline this is a question I
can ask a lot for mass adoption and I
say mass adoption with meaning we’re all
spinning satoshis at Starbucks right
yeah what kind of time frame do you
think we are for that uh I’m in probably
like three having’s okay so that’s 2028
see like 10 years hours Oh cuz you have
one in twenty twenty twenty twenty four
twenty twenty eight and you think by
then everyone’s I mean maybe I mean I
think I think that it will I think by
then there will be enough people at the
places that bitcoiners would shop and
people that bitcoiners would transact
with I think the people they transact
with for most of the things they want
and they’re using or their neighborhood
or whatever will at least be able to
price things and SATs don’t know I don’t
know whatever yeah they might still have
you know they’ll be back on the drachma
in Greece but like if you’re at the
internet cafe they’re gonna be able to
price it in SAP don’t know okay you know
there are a lot of cultures around the
world that have multiple currencies and
they’re able to price things in multiple
currencies I mean it’s basically
everywhere except the u.s. prices things
Android currencies it’s going to be no
problem whatsoever the mind is very
you can certainly price things in SATs
within the next ten years for sure
okay I like it guys give give Bitcoin
give the community is what it is okay
thank you so much Corey appreciate sure
have another great day guys


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