TokenPay Vision, Ecosystem Building & Litecoin
In this interview, TokenPay CEO Derek Capo is talking about TokenPay‘s vision, ecosystem building & Litecoin partnership. If you enjoy it, remember to check out our cryptocurrency wallets and decentralized exchange over at TokenPay.com.
So what i’m gonna do today is, actually going to talk about our vision. What we’re doing? Everything we were doing is part of this major ecosystem that we are building and everything will benefit Litecoin. Okay, so we did the token sale about December of 2017 to about 2000 Bitcoin around that time. With that we’ve been able to do a lot of initiatives. Bought stakes and banks, TokenPay suisse AG bought stake in a bank and then gave it to Litecoin. I will talk about all of that at the end of the presentation explaining why a bank.
Now, before I get in I’ll kind of give you a little bit of my background. It’s actually pretty interesting. Born and raised in Miami, kind of like Mike. Pretty international mindset. We saw lot of stuff happening in Miami. Immigrant families, father from Cuba, mom from Spain. I worked at a hedge funds for about four years. So I saw it happening from 2004 to 2007, more or less. I saw what was going on in the US and we in the hedge fund world knew that the US economy was gonna have a problem. We all saw it coming, just didn’t know when, what month, what year! But we all saw it coming and when all that started happening I decided that I’m gonna leave.
I left in June of 2007 and I actually moved to China, went there, studied Chinese and lived there for about eight years. Started a business to help foreigners go to China study Chinese. After that closed it down and then I eventually joined the Chinese startup, which is robotics education. Teach kids how to code and build robots. I actually got exposed to Bitcoin in about 2011 or 12 when merchants inside Beijing were actually accepting Bitcoin. Little did I not know is that one of the largest crypto currency mining companies are starting to be formed right before my eyes and I didn’t even notice!
What I saw in China is something that I’m gonna see what we’re gonna all see in this world. China believe in our it is the future! It’s hard to believe, how many of you guys have been to China? Okay by the end of this year or next year, you guys should all go there. It really is the future. What I saw in China was in 2008 everybody paying in cash. Two years later everybody was paying with debit cards. By the time, WeChat came around. Everybody was paying electronically! Does anybody know exactly how WeChat became really popular in China? Anybody? Games, more or less.
It was actually in the Chinese New Year, they had this promotion where if you shaked your phone you would get free money. Everybody likes free money, right! So they did that and all sudden they had millions of users overnight! But guess what, they started building apps and adding more apps and more apps and they became the centralized force. Well you cannot survive without WeChat in China! I believe that a lot of this is going to start happening with crypto currencies.
There is believe it or not too much decentralization of apps right now. We have way too many. So part of our vision is to start putting this all together and this is kind of where it all starts. We believe a bank is really the the best broker or the best ability to increase this liquidity. Everybody talks about liquidity exchanges. The reality is the banking infrastructure is that acquitted you need to go from the old world to the new world. Having that bank restructure is extremely important and that’s something that Charlue Lee believed in that’s why we did this!