Talking Mobile Payments, Bitcoins and Apple Pay with Glidera's David Ripley

DC Magnates connected with Gliera CEO, David Ripley, for his take on the payments industry and to learn more about

3. With the launch of Apple Pay, do you foresee them or another similar company launching a multi-sourced wallet which could offer payments with traditional credit/debit cards as well as bitcoins?

Yes, it’s certainly possible that one of these existing companies may choose to integrate Bitcoin into their closed system and thus connect their service to the openness of Bitcoin

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4. Among initial reaction to Apple Pay are its security features which are expected to reduce fraud and decrease processing fees charged by credit card companies for transactions using the product. What is your impression of the security levels being introduced by Apple?

Apple does offer an incrementally better security solution versus the traditional credit card form factor. However, in the end, Apple Pay does still ride on top of the legacy payment system. They can provide better security in some areas, but they cannot overcome all of the security challenges of the legacy system while they still sit on top of the credit card network.

apple5. Do you believe that Apple Pay and other payment products that are expected to decrease processing costs and increase security will ultimately decrease interest for bitcoin related products in developed countries like the US and Western Europe, due to lack of a value-add of cryptocurrencies?

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This is highly unlikely. Apple Pay offers some marginal security improvements versus the legacy system; it’s also questionable whether users and merchants will actually see any cost benefits in the long run.

On the other hand, as a payment system, Bitcoin offers many substantial benefits beyond just security and cost. It’s also faster, global, entirely open and does not require a third party. The value of all of these benefits continues to grow and any new payment products built on the legacy system will not change that.

Further, Bitcoin and decentralized blockchain technologies offer many benefits that extend beyond just payments, such as escrow, title records, smart contracts, etc.

6. Turning to your own firm, what do you believe is Glidera’s value to the bitcoin eco-system and how are you differentiating your wallet from the multitudes of products launched over the past year.

We’re excited for the upcoming launch of our entirely non-custodial Bitcoin platform. On top of this platform, Glidera will offer a Bitcoin wallet that leverages a multi-signature architecture enabling users to maintain complete control of their bitcoin. This architecture also leads to an enhanced and distributed security model that ensures users’ funds are safe even in the unlikely event that Glidera’s service is hacked or even if it disappears entirely. Glidera will offer greater transparency by allowing users to verify their balances directly on the blockchain. Lastly, on top of this platform, we’ll allow users to easily buy and sell bitcoin directly through the Glidera service, thus providing a path for new users to join the Bitcoin ecosystem.

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