Wayne Chen, the CEO of Interlapse Technologies Corp. (TSX.V: INLA), a new technology issuer on the TSX Venture Exchange, provided an in-depth overview of the company’s virtual currency platform, Coincurve, during an interview with CryptoCurrencyWire at the 2019 Futurist conference, held in Toronto, Canada. The event, which is Canada’s largest blockchain conference, explored what is on the horizon within the rapidly expanding sector of the technology industry. Coincurve is one of the key disrupters in the field.
Coincurve allows people to purchase cryptocurrency like bitcoin quickly and easily starting in Canada. In fact, the entire process can be done online or on your cellphone in under 10 minutes. All a user needs to provide is their name, email address, mobile phone number and a voice recording of their birthday; there is no complicated registration process. Unlike many companies that handle cryptocurrency for exchange purposes, Coincurve is created for people who want to buy, hold, and even use the currency directly.
Chen explains that part of the reason they can make transactions so quickly and without a lengthy user identification process is because the system is designed for smaller transactions between $20 and $500. There’s also safety in the “non-custodial” approach Coincurve takes, which means bitcoin is distributed immediately to the address specified by the client, rather than being held by the company as a typical exchange would.
“Our goal is for you to be able to easily buy and hold bitcoin right now,” Chen says.
Of course, for Chen, the release of Coincurve is only the beginning of his plans for the company. The company has recently launched a new eGift card feature that allows people to use their cryptocurrency to purchase eGift cards for use with major retailers. Although it’s not using bitcoin for direct purchases yet, Chen sees this as the first stage of conversion. He argues that if other companies follow suit, it will help to stabilize bitcoin, allowing it to be used as actual day-to-day currency.
Chen aims to see Interlapse’s Coincurve service become just like vending machines: fast, easy to use and available all over the world. Of course, unlike vending machines, Coincurve would have the added benefit of always being within arm’s reach, since its services can be utilized digitally on the web or a smartphone. By working to develop ways that bitcoin could be used for day-to-day purchases like groceries and household goods, Chen believes Coincurve is doing its part in making bitcoin more useable for the general public.
“Ultimately, we know that bitcoin is very volatile,” Chen says, “One day it could be $16,000, the next weekend it’s down to $13,000… that’s not stable. People are not going to buy a coffee for $5 today and $20 tomorrow. That’s not going to happen, right? With more practicality of using cryptocurrency, it can normalize and stabilize the coin a bit more.”
As of right now, Coincurve only is available for mobile use in Canada, but plans for expansion to Asia and other global markets are in the making.
For more information, visit the platform’s website www.Coincurve.com
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