Metallicus — a startup that creates peer-to-peer (i.e. without a Central server) of the payment system Metal Pay. It’s like Western Union to send money between users, only with the use of cryptocurrencies. He recently received investment from the very young Bitcoin millionaire Eric Finman. In collaboration with the CEO Pay Metal Marshall Heiner they develop cryptobranchus the first universal platform. The latter includes 17 digital assets, digital banking and payment app.
To project Metal Pay Heiner helped to develop cryptocurrency projects Stellar, Dogecoin and Block.io. Previously, the company has attracted $ 3 million investment from CEO of G2 Ventures, Gateway and Shapeshift Eric Voorhis.
That allows you to make Metal Pay: transfer money (Fiat or cryptocurrency) to friends without fees, to Metal tokens (Yes, same name) in the form of cashback and buy 16 of cryptocurrencies, which include Ethereum, Bitcoin, Litecoin and so on. All seasoned with cool intuitive interface, you can see it on the project website. While the platform is available to U.S. residents.
Platform Metal Pay have processed the transactions between users on approximately $ 11 million. Now the application is registered more than 130 thousand users in 38 States. According to Heiner, every month the company processes cryptopedia the equivalent of a million dollars, and the number of active users reaches 30 thousand users.
The project clearly wants to catch an audience that is unfamiliar with the crypt, and fix it. The interface here will certainly help. Another question — what will the regulators, and do not repeat the story of Libra from Facebook, which fell out of favor with the authorities.
Finman decided to risk and invested in the development of the project, the low amount of bitcoins. He argues, first and foremost, he is interested in the development of banking and stock exchange ecosystem. Furthermore, the 20-year-old millionaire, whose wealth through profitable investment in Bitcoin now exceeds $ 400 million, said CoinDesk that their project is ready to Eclipse the largest cryptocurrency. Here is his quote.
In the past I was a little rough in terms of where Bitcoin will move, will rise or collapse to zero. But over the past few months I precision defined for something that is the community surrounding Bitcoin is highly fragmented. But the applicability of this cryptocurrency is negligible. Our project is an attempt to push the boundaries of cryptocracy, to give a boost to industry and turn it into useful financial tool.
Heiner agreed with the young businessman and added that “criptural developed so that just imitate the existing financial industry”.
This is no community, open source and full transparency. And the days when anyone could mine bitcoins with a laptop are long gone.
That’s probably how he tried to hint at the relatively centralized nature of Bitcoin.
The concept of cryptocurrency becomes trivial
The project team carefully analyzed the existing ecosystem of cryptocurrency and were in constant contact with the regulators. Now Pay Metal cooperates with the Bank Evolve Bank, located in Arkansas, and also has a trust Fund for the storage of deposits under the protection of American Federal Corporation on insurance of contributions (FDIC). With the development of the Evolve platform Metal will help Pay to implement a number of financial products related to conventional banking services.
In fact Metal Pay aims to drive a wedge into the market, full payment apps like Venmo and Cash App. He admits Heiner, it is very difficult to attract an audience, especially if it did not previously been associated with cryptocurrencies. But their main task is to develop apps, which fully complies with the requirements of the regulators and has no problems with kompleksom.
Bitcoin opened the shutter for financial products of a new type, just as Ford hyped gears of the automotive industry. Although Ford still produces cars, and the concept of personal cars is booming, today there are lots of other manufacturers whose cars are no worse product of the company-founder.
It is important to understand, Bitcoin is a cryptocurrency and Metal Pay — a platform for the exchange of Fiat and cryptocurrencies. Therefore, the statement about wanting to win a major coin of the world sounds at least arrogant. The more than the unknown better than any Metal coin? Except that the opportunity to earn it without ASIC miners.
Whatever it is, will Eric defeat Bitcoin? Or is it just PR? Look for discussion in cryptcat billionaires.
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