In this interview, TokenPay CEO Derek Capo and John McAfee are debating on bank usage in adoption. If you enjoy it, remember to check out our cryptocurrency wallets and decentralized exchange over at TokenPay.com.
Derek how much did you buy the whole bank and how much of the bank did you bought? TokenPay Swiss AG bought 9.90% with an option to buy up to 90%. But it’s actually now up to 80%, because now the Litecoin Foundation owns 9.9% and we’re obviously looking for the strategic partners. We’ve been talking to some of the largest exchanges in the world actually to partner with us on this bank. All these large exchanges realize that something they need is banking infrastructure to kinda help this flow.
They realize a lot of their customers that, they still want to be able to convert some of the stuff. Well, what do you think John? What do you think a crypto coin like TokenPay and Litecoin buying a bank? Do you think that could speed up adoption? Or do you think that’s going backwards and people who buy a bank? So like, I don’t mean like a hundred years the long-term goal. I mean in fact the long-term goal is to have Fiat be of total insignificance. Everything is paid for transferred of using Fiat.
Then that is going backwards when I said for the moment transfer – correct. We do have to transfer into Fiat from those things. However what can you not buy with bitcoins? You can buy houses, go on a bitcoinrealestate.com. There were hundreds of homes you can buy. Multi-million dollar homes all over the world with Bitcoin. I haven’t paid for a single car with Fiat in two years, all of the cars that I own. I just sold my Range Rover for Bitcoin! Literally, if you look around you can buy almost everything except groceries with Bitcoin.
Now as this progresses, I believe survive just on a cryptocurrency purchases. When we reach that point, it will blossom. Seriously I had to go to the bank the two days. You’re gonna do a wire fucking transfer. So I had to get out of bed, go down to the bank. Sit wait for 15 minutes for some officer, where I gave him all the information. Still not a bunch of forms, got them printed, sign my goddamn name and went home. Took me an hour! Now, if I want to do a transfer with the ethereum or something, what’s it? Take me a minute.
Please God wouldn’t, you …….. I just disagree with the fact that banking. As bankers, I’ll tell you why. If I went to a very large business, right now to accept cryptocurrencies as a form of payment to get more customers. See you mentioned homes. Not many people John, can buy a million dollar homes. Examples, okay okay okay you got me …….. 225 million dollars in revenue and they think that it’s crazy that I’m doing this big coin crypto stuff!
I’ll say don’t worry about it when you want to get international customers. Would you want to do wire where you have to do a bunch of crap and it’s gonna take you a while? Or do you wanna accept Bitcoin? Where I’ll have an infrastructure for you. So that you can convert and it’s like, if you do that for me I will do it or we will accept them. Well, imagine if we did that. The business is all over the world, right. So your eyes, you’re backwards, I see.