Blockchain innovations, cryptocurrency and new payment platforms constantly disrupt the traditional banking and financial sector, but these technologies are not accessible or consumable by the general population.
The existing technologies are too complex for ordinary consumers and many platforms lack a user-friendly design, making them too late for adopters.
From a background with Wells Fargo, Jason Davis wanted to change the way people bank with crypto to make it seamless and simple. He introduces Hoard, a cryptocurrency wallet, exchange and payment platform, to address this gap that is currently available to make crypto so simple that even grandmother can understand it.
- Can you explain to me how the current system works by integrating cryptocurrencies and fiat currencies?
In short, the current system of integrating cryptocurrencies and fiat currency has many flaws, some of which are at the front and affect the user – e.g. finding a complicated numerical address that if you miss a single digit, your money is gone forever. In the backend, some aspects of both centralized and decentralized exchange methods are weak in terms of security or liquidity. When you go to a bank, you do not think of any of these things – you just stop your money or get it out. Hoard is designed to give you exactly the same feeling – you do not have to know how it all works, because it just works.
The Hoard wallet will be strengthened in the future by a fiat gateway with advanced purchase options, allowing many different cryptocurrencies to be purchased that go beyond Bitcoin and Ethereum. The mobile Hoard wallet with open source and multiple currencies will serve as an access point and dashboard for many other offers, including a decentralized exchange.
- What are the current challenges in mobile banking / investing for cryptocurrency?
Crypto technology is complex and often discourages adoption. Markets are difficult to enter, which also blocks the participation of interested parties. Cryptocurrencies are not fungible like cash … until now.
The current offer lacks automation and intelligence to improve experiences and investment results. This is a nightmare for the daily consumer. Instead of fragmented pieces of a puzzle, Hoard builds a coherent ecosystem with a series of financial tools for all blockchain-based assets.
By removing the access thresholds and eliminating the steep learning curves, we want to increase the usefulness and value of cryptocurrencies for everyone. By succeeding these efforts, we believe that this offers new opportunities for cooperation with traditional players in the field of financial services.
- Cryptocurrency is still a relatively new process, what is your advice to help the general public understand the crypto?
With all emerging technologies, trends and changes, people must become curious and discover. Education is an important part of every new thing – especially in financial areas.
I recently read more about ARPANET, the forerunner of the modern web. The article highlighted how online banking services were offered to customers at the end of the nineties. Those first payment systems were not user-friendly and there are many similarities with what we see today with blockchain, crypto and payment technologies.
At Hoard we try to learn and explore the market.
- How do you plan to develop an adoption of crypto-banking? What is the impact on the banking system?
We often say that Hoard is the cryptocurrency app you can trust. We do not build a bank, we re-invent banking.
Many parts of the financial services do not focus on the customer experience. Hoard has the potential to be a major player in payments and we do not need banks, bills, debit cards, EVM chips, point-of-sale hardware, credit, etc. We have to make it easy for consumers, lower costs much as possible, and cash back sooner.
If we do this, many in the banking sector will be looking to work with us. Banks are now some of the leading organizations that explore blockchain. Many have innumerable patents. They know that there is an evolution going on. Many did not want to embrace mobile banking, but they realized what Brian Solis & # 39; Digital Darwinism & # 39; called.
Consumers will expect and require different elements of digital transformation. If you do not adjust and deliver it, you stay behind.
- The space seems to be very busy, how do you want to stand out?
Hoard enables EVERYONE anywhere in the world to keep, track, transfer and transact with tokenized assets from a mobile device … private, direct, secure and easy.
We make crypto as easy as placing coins in a piggy bank. Our soon to be launched wallet focuses on simplicity, with a state-of-the-art design that delivers a more rewarding user experience. Users do not even have to worry about complex crypto addresses. They can easily find a contact on their device and send or request money, even if the other person (or seller) does not yet have a Hoard or another crypto wallet.
Hoard plans to:
– Connect the world with blockchain technology
– Re-invent banking banking as we know it
– Give power back to the people
- What is the difference between this and other forms of acting within the crypto-space?
Hoard is a bridge between the old monetary systems and the newer blockchain-based economy. We provide simplified experiences about complex technologies.
Some elements of our ecosystem are centralized, such as connecting with banks and converting fiat to digital currency. Other elements are decentralized, such as our blockchain protocol and cross-exchange pipeline.
The Hoard app lives between these two worlds. This application is your personal banking interface for the tokenized economy of currency, assets, commodities, securities and utilities in one location.
Together they focus on crucial foundations for cryptocurrency and general financial possibilities: scalability, interoperability, fungibility, accessibility and simplicity. Open source and distributed.
Simplicity is not a patent. The individual user must be able to easily adopt a technology if we expect the world to adapt to that technology. The Hoard team approaches every interaction from the perspective of the user. It is part of our family tree as practitioners of interaction design, very skilled in human factoring.
Trading with Hoard focuses on the evolution of money, banking and blockchain. The Hoard wallet is only the first of many platform products accessible through our mobile applications.
Hoard will offer multiple trading experiences, including connections with multiple decentralized exchanges (including our own) and an offer called swaps. The Hoard wallet enables direct swaps between cryptocurrencies and new tokenized assets as they become available.
Our approach is to create a simpler experience that is acceptable to everyone, regardless of the skill level. It will be as simple as a physical fiat kiosk, without the hassle of entering a complicated trading platform or dealing with the paperwork.
- Shopping with crypto for daily purchases – is this possible in the near future?
Hoard believes that cryptocurrency is not just a storage mechanism for value and investment, but an upcoming basis for all types of transactions.
Like any emerging technology, continuous acceptance is crucial. Look at things like mobile and app-based payments. It is still ongoing, but it requires consumer and business interests to create a marketplace for use. Once the demand arises, retailers will embrace it through traditional methods such as credit cards that result in extensive costs.
Moreover, people with our rules-based engine can pay for their morning coffee or lunch-taco's and the change in crypto investing. If you look over the global landscape, different types of vendors start to offer payment via cryptocurrency.
- What are your ICO plans, what is the timeline and what do you want to achieve?
Hoard officially starts our ICO on 15 September. In the past year we have built solid relationships throughout the entire crypto community. People are enthusiastic about our vision. We will also soon launch our beta mobile wallet app, illustrating that fundraising will be used to expand our efforts and expand our comprehensive roadmap with Fiat Gateways, partnerships with industry players and our own decentralized exchange. expand strengthened by our upcoming blockchain network of the second layer.
Additional ICO updates will be finalized and will be shared soon.
Jason Davis is CEO of Treasure.