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You guys for sticking around 
through that commercial break. 

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We are now joined by the CEOs of
Bolt and wire Yanni and maju. 

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How are you guys doing today? 
Fantastic? 

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Thank you for having us Q. 
Yeah, fired up. 

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Thank you. 
Awesome. 

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Well, why don't we just Dive 
Right into things. 

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There was a big announcement 
about a month ago between your 

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two companies. 
I'll let you guys sort of share 

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those details with everyone. 
Yeah, so bolt. 

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We are a one-click checkout 
company for all of Commerce and 

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we have been looking at ways to 
expand into in the crypto and 

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and we started talking to other 
different companies and we ran 

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the wire and we found that wire 
is the best company that's 

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aligned with us both from a 
strategy perspective and 

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cultural perspective and we 
continue that conversation and 

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sign the definitive agreement 
for merger. 

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Recently announced that Gordon 
conference recently, Johnny. 

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Go ahead. 
Yeah. 

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Absolutely. 
We're really excited. 

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So yeah, we announced a 
definitive agreement to merge 

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into bolt, you know, wire for 
just for those that don't know, 

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we've been around since 2012 
started in the crypto ecosystem 

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to help people buy things using 
the Bitcoin. 

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And over the years. 
We realize that it's really, 

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really difficult to, you know, 
build applications and in the 

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crypto space, so we ended up 
spending the past like eight, 

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nine years, really building an 
infrastructure. 

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Sure, it'd make it easy for 
people to build into crypto and 

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when bolt approached us last 
year and we working more with 

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bulk. 
We, you know, it came. 

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We came to the realization that 
there's nothing better out there

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to get him Bitcoin into the 
hands of billions of people, 

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then really partnering with like
one of the largest payment 

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companies in the world. 
So we're really excited that 

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we're taking a step forward and 
getting it in the hands of 

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billions of people also. 
And so will the team of why are 

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we staying on to help that 
transition or walk us through a 

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little bit of how this murder? 
Shape up for the two companies. 

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Yeah, so bolt provide one-click 
checkout for all margin. 

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So we are one of them 
decentralized wires. 

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And we make sure that the power 
of one-click checkout can be 

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achieved for merchants without 
having to stay in any large one 

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ecosystem. 
Like you can stay in Amazon 

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Shopify, you can get some of 
those features, but it's not 

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available for anyone else. 
So we build the biggest Shopper 

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accounts. 
Work that's available for 

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everyone across the merchants, 
irrespective of whatever 

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platforms they were. 
So destabilization is the key 

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aspect for us and so crypto and 
Bitcoin comes play right into 

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that and that mission of 
decentralization and bringing 

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all the different options and 
bring taking out of some of the 

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larger bigger entities and 
putting it into the pot, about 

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putting the power into. 
The common people is kind of our

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mission. 
So with the wire will continue 

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that mission. 
Our mission is very aligned In 

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crypto and Bitcoin to everyone. 
Bring it to the masses. 

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So the way we are going to 
operate is Bolt, has the Shopper

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accounts Network. 
So we have tens of millions of 

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Shoppers all their payment 
information and all their 

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shopping information. 
We also have a fraud system that

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make sure that all the 
transactions are proper and it's

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one of the most advanced part 
system and the industry. 

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And so we are bringing that 
those two their Shopper 

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accounts. 
Network with tens of millions of

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Shoppers and they Advanced power
of the show are the the fraud 

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system and connect that with the
wires crypto infrastructure. 

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So with that we will be able to 
bring one click crypto available

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for you and also for Shoppers 
want to pay on Merchants with 

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Bitcoin. 
They can do that with one click 

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or Shoppers want to buy things 
on metaverse. 

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We can take out all the friction
and make it happening with the 

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Click the way we are going to 
organize, this. 

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Yanni is going to be continued 
to lead the charge of it. 

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He's going to be the chief 
crypto officer. 

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We think that will be there that
the title may be the first title

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that will be used by lot of 
companies as we go forward. 

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And so any will continue to lead
the the mission and Trotter just

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like he's doing with wire right 
now and you go ahead. 

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Yeah. 
I think you I think you summed 

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it up perfectly. 
So yeah, we're back to that. 

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It's like yeah, we're still Be 
aligning building our critical 

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infrastructure building our 
Bitcoin infrastructure and still

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providing an on ramp into 
Bitcoin. 

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Right? 
And this will still have like 

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some of the teams will get 
merged in but like will be 

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Standalone just building 
together with bulb module. 

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Would you mind maybe sharing a 
little bit of some of the client

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you guys are already have are 
working with just, so our 

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customer, our audience can get a
better sense of where they're 

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actually going to be interacting
with this technology. 

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Yeah, so today mold is Helping 
largely with online Commerce. 

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So, we have a variety of 
customers all the way from 

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really small customers to really
large Enterprises. 

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So, we recently signed Fanatics 
as one of the largest and 

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fastest growing Commerce 
company. 

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They are picking us for powering
their one-click. 

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Checkout experience on all their
platform across the board. 

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To we have merchants in across 
various categories. 

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We have Merchants. 
Like let's say, it like patio 

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furniture. 
It's just like Bollywood or or 

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they do barbecue like outdoor 
systems like solo stuff. 

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We have apparel industry. 
Lucky Jeans Forever 21, we have 

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we have a very broad spectrum of
merchants. 

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So anyone selling online, we 
will remove the friction from 

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the process. 
So that anything people, our 

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vision is that people should be 
able to go to any website that 

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sell anything and can buy with 
one. 

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Like, even though they have 
never been on that site ever 

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before and how will Merchants be
able to opt into this? 

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Will it be just like as they're 
setting up just like checking a 

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box or what sort of get set up 
on the back end for them to 

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receive payments in Bitcoin. 
Yeah, so the world powers that 

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take over the check out for a 
merchant and that includes 

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managing their ship an option as
well as payments bolted a 

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integrates with all payment 
options. 

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Like we connect with all 
different credit cards. 

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Card payment processors. 
We connect with all the 

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alternate payment options with 
wire. 

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We are going to be connecting 
with the crypto and Bitcoin. 

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So for merchants what we have, 
what we have become is a single 

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window into the payments world. 
So historically, Merchants have 

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to build whenever they want to 
add a payment processor. 

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They have to build a connection 
for the payment processor and 

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switching from One Premium 
processor to another payment. 

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Processor is a big challenge, 
for them, whatever they want to 

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add an alternate payment. 
Whether that's an Apple pay or 

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Google pay, that's an extra work
for them. 

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What both has done is we pre 
built all those Integrations? 

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We can are connected with all 
the payment process of my 

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payments and now, with Bitcoin 
and all the crypto 

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infrastructure. 
We are rebuilding all that 

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connections and for merchants. 
Now, we use bold, they can turn 

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on all these payment option. 
As a configuration. 

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They don't need to write. 
A single line of code. 

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There are native that I gets 
more. 

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We made it into a configuration 
so they just go there. 

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Configuration and enable that? 
Okay. 

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I want to enable that's a 
Bitcoin payment and they just 

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check that box. 
And now peep they can take 

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accept Bitcoin as well as 
consumer. 

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The Shoppers can pay with 
Bitcoin just with one click. 

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I think that's like the guy gets
like, very understated, like, 

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how massive this is going to be 
some of the largest Brands 

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overnight will be able to accept
Bitcoin on the websites and opal

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bowl of being one of the largest
Bitcoin payment processors in 

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the space. 
Overnight. 

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So we're really excited to get 
this out. 

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We're working to get, obviously 
we're working together and 

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getting that feature out. 
But like some of the biggest 

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brands, in the space, overnight 
will be able to accept crypto or

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pick one specifically, which is 
going to be huge. 

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I'm curious how. 
So if I'm understanding this 

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correctly, not only will 
Merchants be able to interact 

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with customers and accept 
payments in Bitcoin, but like, 

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their suppliers, the 
manufacturers, or they're 

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shipping bills. 
Most can also get handled as 

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such correct. 
Well, it's mainly. 

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Only our product is mainly 
designed for consumer buying 

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from a merchant sites. 
So we have like 800 plus 

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Merchants now that use bold, and
we have mentioned, like around 

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10 million, plus Shoppers that 
already have accounts with us. 

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So what we are enabling, is 
those millions of Shoppers to 

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buy from any of the large group 
of merchants. 

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With the power of one click. 
Now with Bitcoin is about a one 

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click - Bitcoin with one click. 
We don't support anything beyond

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that behind the scenes for 
merchants with their suppliers. 

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It's more that interaction 
between the actual consumer and 

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the merchant. 
And you only talk to me a little

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bit about where this transaction
is happening on within the 

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Bitcoin ecosystem resistant, 
layer 1 or above it on the 

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lightning. 
Networking layer 2. 

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Yeah, so we're working right now
with light me without 

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networking. 
We're going to be releasing some

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apis to build easier into the 
lightning Network, which would 

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be huge right now. 
So, the way that's going to work

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is that we're simply the there's
a multi-state face just for 

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this. 
Right? 

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So first phase is actually 
getting an on-ramp product. 

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So we have one of the largest on
ramps on the coin on ramps, in 

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the space where you can use a 
credit card debit card, can be 

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able to order it directly into 
Bitcoin and different platforms 

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and we make it super easy for 
applications. 

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All of us pays to be Able to 
have his like on-ramp 

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functionality. 
And what we're going to do is 

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we're going to you know, both 
really perfected that in 

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e-commerce. 
They probably have the best 

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shopping experience. 
So if you go on like Forever 21 

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and lucky Brands and Tyler's and
other merchants of the space, 

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you can literally use one. 
Click save your payment 

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information and then just start 
buying immediately. 

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So the first phase that we're 
going to do is we're bringing 

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this one. 
Click functionality to bitcoin. 

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So we're going to make it super 
easy for developers to have 

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kindly Conrad. 
Providing this like incredible 

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experience on rep directing two 
platforms. 

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The second, the second phase is 
really bringing Bitcoin Payment 

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Processing two bolts merchants, 
and that's going to look very 

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similar. 
It's going to be a supercharged 

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because it's going to be ready 
out of the gate. 

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So there's not going to be any 
integration work. 

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So both Stone, a really 
incredible job really working 

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with some of the aggregators out
there so I can Bigcommerce is 

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the and and other like magento's
or the world. 

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So there's a lot of merchants to
have is out of the box and we're

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going to be able to Bitcoin 
Payment Processing directly to 

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all those merchants. 
And start accepting it over 

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over, you know, overnight 
basically and how that's going 

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to work is it's going to be, you
know, they go through the 

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checkout flow and they'll be 
presented with the QR code and 

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consumers, will be able to shop 
directly on those merchants. 

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And then the merchants will be 
able to either hold it in 

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00:11:12,400 --> 00:11:15,500
Bitcoin, right? 
So hold the acid and Bitcoin and

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and there's like, all this cool 
stuff happening right now. 

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We're making it easier for For 
corporations actually store 

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00:11:21,000 --> 00:11:25,000
Bitcoin on the balance sheet, 
you know like the accounting 

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00:11:25,000 --> 00:11:26,400
Association. 
Just like did some really 

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00:11:26,400 --> 00:11:29,100
awesome stuff. 
Put it initiative in making that

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easier for merchants to do that.
And or they'll have the option 

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to converting that instantly 
into a Fiat and paying out their

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suppliers if they if they 
choose. 

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So we're make it super seamless 
for merchants to have that 

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capability and I think will be 
bold be the largest Bitcoin 

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00:11:44,900 --> 00:11:47,100
payment processor overnight when
that happens. 

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So in terms of volume and in 
terms of Don't quote me on that,

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00:11:50,400 --> 00:11:52,800
but I think that overnight 
there. 

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I think they'll be one of the 
largest Bitcoin prices were just

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going to be super exciting. 
So that's what the second phase.

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The third phase, which is really
kind of really ties in 

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00:12:01,100 --> 00:12:04,900
everything is kind of Downstream
I bought in. 

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I don't know how much of this 
is, you know, bolting the in 

231
00:12:09,300 --> 00:12:13,400
process of like working on a 
wallet and and once that wall is

232
00:12:13,400 --> 00:12:16,900
is enacted, then making it one, 
click from the wallet historian,

233
00:12:16,900 --> 00:12:19,700
a Bitcoin balancing the wall and
then paying directly on the As 

234
00:12:19,700 --> 00:12:22,600
Merchants is going to be super 
streamlined. 

235
00:12:22,600 --> 00:12:27,500
So really closing that Loop the 
hole closed loop Network or open

236
00:12:27,500 --> 00:12:31,100
network that they have through 
Merchant wall and Shoppers is 

237
00:12:31,100 --> 00:12:33,500
going to be powerful. 
So that's really a three-step 

238
00:12:33,500 --> 00:12:36,500
phase approach that we're 
working on and it's going to be 

239
00:12:36,508 --> 00:12:38,600
extremely powerful when it's all
up and running. 

240
00:12:38,800 --> 00:12:41,300
Yeah, I think that's that's 
that's exactly right. 

241
00:12:41,300 --> 00:12:45,300
Like what we are doing is we 
have this proper accounts 

242
00:12:45,300 --> 00:12:49,700
network with all their payment 
information now, We allow them 

243
00:12:49,700 --> 00:12:52,800
to store in a save their Bitcoin
wallet. 

244
00:12:52,800 --> 00:12:54,800
So, you know, connect them or 
store them into our account. 

245
00:12:54,800 --> 00:12:58,600
Now, they are there. 
They can there the opportunity 

246
00:12:58,600 --> 00:13:02,000
to go and buy whatever they want
to buy on the internet. 

247
00:13:03,100 --> 00:13:05,300
Without any friction, just by 
with one click. 

248
00:13:05,300 --> 00:13:07,100
And that's where our fraud is 
very important. 

249
00:13:07,100 --> 00:13:09,800
How far systems are very 
important because one of the 

250
00:13:09,800 --> 00:13:12,800
biggest challenge from merchants
or anyone doing this transaction

251
00:13:12,800 --> 00:13:14,600
is, how can they do that? 
Safely? 

252
00:13:14,900 --> 00:13:17,000
Right? 
They are worried about that, but

253
00:13:17,000 --> 00:13:18,600
that, and that's what we 
constantly get. 

254
00:13:18,700 --> 00:13:21,600
Um, everyone. 
And so the power of our Shopper 

255
00:13:21,600 --> 00:13:25,700
accounts Network, a power of our
Advanced fraud system in the 

256
00:13:25,700 --> 00:13:27,800
power of the identity. 
We have the power of 

257
00:13:27,800 --> 00:13:29,400
connections. 
We already have deeply 

258
00:13:29,400 --> 00:13:33,900
integrated with the merchants. 
That is bringing making it much 

259
00:13:33,900 --> 00:13:38,000
easier for people to use it, 
Merchants to accept, and a path 

260
00:13:38,000 --> 00:13:43,800
to bring it mainstream. 
Are y'all ready for this one? 

261
00:13:43,800 --> 00:13:46,200
I'm assuming, I'm just going to 
be a hot wallet, or will it be a

262
00:13:46,208 --> 00:13:50,500
cold storage wallet? 
So it will. 

263
00:13:50,500 --> 00:13:54,800
So we have just taken a step 
back while it has wire has like 

264
00:13:54,800 --> 00:13:57,400
custodial services. 
So we provide apis, to make it 

265
00:13:57,500 --> 00:14:00,800
easier for people to build a 
noncustodial and custodial. 

266
00:14:01,700 --> 00:14:05,100
Well, it's so right now we have 
our a lot of like Applegate. 

267
00:14:05,100 --> 00:14:07,800
You make it super easy for 
developers to come in and have 

268
00:14:07,800 --> 00:14:10,600
this like, simple API. 
We're gonna spin up wallets and 

269
00:14:10,600 --> 00:14:13,200
they can Either decide to store 
the key on the device or they 

270
00:14:13,200 --> 00:14:14,500
can. 
So I decide to store the key in 

271
00:14:14,500 --> 00:14:17,000
our centralized servers, you try
to make it easy for people to 

272
00:14:17,000 --> 00:14:19,500
get up and running. 
So there's option of integrating

273
00:14:19,500 --> 00:14:23,400
both. 
It's undecided which route we we

274
00:14:23,800 --> 00:14:26,900
will go with with the bolt 
wallet, but it's you know, we 

275
00:14:26,900 --> 00:14:29,800
want to make it super easy for 
people to have flexibility of 

276
00:14:29,800 --> 00:14:32,300
interacting with a noncustodial 
in custodial. 

277
00:14:32,300 --> 00:14:34,100
So it kind of merging the 
experiences together. 

278
00:14:34,100 --> 00:14:36,300
So I think there will definitely
take those. 

279
00:14:36,400 --> 00:14:39,600
You know, I'm a huge porn on 
because kind of like 

280
00:14:39,600 --> 00:14:43,700
decentralization and And and 
only, yeah, you own your keys 

281
00:14:43,700 --> 00:14:48,700
and on your body type situation.
So we are, will definitely take 

282
00:14:48,700 --> 00:14:50,500
those considerations in the 
design phase. 

283
00:14:50,700 --> 00:14:54,000
Sure. 
Are there plans to have the code

284
00:14:54,000 --> 00:14:56,800
for the wallet be open source, 
or will that be controlled by 

285
00:14:56,800 --> 00:14:59,100
bolt? 
That's a good question. 

286
00:14:59,600 --> 00:15:01,600
Is a really good question 
modular. 

287
00:15:01,600 --> 00:15:05,800
I'll let you decide on that. 
Well, I mean, I think that's a 

288
00:15:05,800 --> 00:15:08,000
great question. 
I don't think we haven't made a 

289
00:15:08,000 --> 00:15:12,300
decision on that that yet, so, 
That great question will 

290
00:15:12,300 --> 00:15:15,800
certainly let you know as we 
kind of evolved to that thinking

291
00:15:15,800 --> 00:15:18,400
process. 
Like we are a big 

292
00:15:18,400 --> 00:15:22,800
destabilization is core to our 
DNA and what our goal is to 

293
00:15:22,800 --> 00:15:27,700
bring in a Bitcoin and all the 
crypto infrastructure available.

294
00:15:28,100 --> 00:15:31,000
Bring it to everyone. 
Like whether that's Merchants 

295
00:15:31,100 --> 00:15:33,000
Bank, what we are seeing demand 
from our chains, right? 

296
00:15:33,000 --> 00:15:36,400
Like Merchants are seeing that 
by looking at some numbers. 

297
00:15:36,400 --> 00:15:39,500
There are seeing that the 
merchants who are accepting trip

298
00:15:39,500 --> 00:15:43,200
toad. 
The seeing a higher number of 

299
00:15:43,200 --> 00:15:46,800
Shoppers new Shoppers net, new 
Shoppers like 40 percent of net,

300
00:15:46,800 --> 00:15:49,800
new Shoppers show up on 
Merchants, who are accepting 

301
00:15:49,800 --> 00:15:53,500
crypto and also the Shoppers who
are paying with crypto. 

302
00:15:54,000 --> 00:15:58,300
They tend to like spend twice as
much as than the previous 

303
00:15:58,300 --> 00:16:01,000
Shoppers are using credit card. 
So from an economics 

304
00:16:01,000 --> 00:16:04,200
perspective, Merchants really 
want the access to it. 

305
00:16:04,400 --> 00:16:07,900
The reason they are not a able 
to kind of take advantage of 

306
00:16:07,900 --> 00:16:09,200
that. 
Is there. 

307
00:16:09,200 --> 00:16:11,600
It's a multi-step process. 
Process and there's a lot of 

308
00:16:11,600 --> 00:16:14,500
risk involved and really nobody 
simplifying those things. 

309
00:16:15,000 --> 00:16:19,800
Our goal really is to like 
simplify all of that, remove all

310
00:16:19,800 --> 00:16:23,200
the friction from the process. 
So that many Merchants wants to 

311
00:16:23,200 --> 00:16:26,500
tell on crypto and take 
advantage of all this new shop 

312
00:16:26,500 --> 00:16:30,200
Rings Chopper segments that they
don't have access to today, and 

313
00:16:30,700 --> 00:16:33,800
we can make that happen just 
without writing any code because

314
00:16:33,800 --> 00:16:36,000
it's already written for them. 
And all the connective is 

315
00:16:36,000 --> 00:16:40,300
available and that brings a lot 
more options for Shoppers. 

316
00:16:40,800 --> 00:16:43,200
Is now they don't have to go and
find out, you know, the few 

317
00:16:43,200 --> 00:16:46,400
shops that except now the world 
is dropping line. 

318
00:16:46,400 --> 00:16:50,100
And also also the shop ring 
experience itself is changing, 

319
00:16:50,100 --> 00:16:51,800
right? 
Like it more and more Shoppers 

320
00:16:51,900 --> 00:16:54,000
are not just shopping on a 
merchant website. 

321
00:16:54,500 --> 00:16:56,600
People are shopping on social 
media. 

322
00:16:57,000 --> 00:16:58,900
People are shopping by in a 
looking at blog. 

323
00:16:58,900 --> 00:17:01,000
If they follow somebody on 
influencer. 

324
00:17:01,000 --> 00:17:04,400
They see something they want to 
have the ability to like provide

325
00:17:04,400 --> 00:17:06,900
a one click, one, click, and 
it's yours. 

326
00:17:07,599 --> 00:17:10,300
And those infrastructure is not 
available. 

327
00:17:10,800 --> 00:17:13,099
Therefore everyone today and 
that's what both has. 

328
00:17:13,800 --> 00:17:16,900
So when a merchant use bold, 
they can provide a great 

329
00:17:16,900 --> 00:17:20,000
shopping experience on their 
side including acceptance of 

330
00:17:20,000 --> 00:17:22,300
Bitcoin. 
So now they have access to this,

331
00:17:22,400 --> 00:17:25,400
you know, the new generation 
segment with work, or a 

332
00:17:25,400 --> 00:17:30,100
high-value Shoppers for them and
make that shopping experience. 

333
00:17:30,100 --> 00:17:32,500
Easy everywhere. 
When they extend, that product 

334
00:17:32,500 --> 00:17:35,400
out to social media, or one of 
their influences, connecting 

335
00:17:35,400 --> 00:17:38,200
their, or displaying your 
product rather than clicking it,

336
00:17:38,200 --> 00:17:40,400
take you to a link back to 
Merchants now. 

337
00:17:40,500 --> 00:17:42,600
Five more steps to pay with 
Bitcoin. 

338
00:17:43,200 --> 00:17:44,400
Now. 
It's like you see something on 

339
00:17:44,400 --> 00:17:45,700
the video. 
You just click one. 

340
00:17:45,700 --> 00:17:49,700
Click, it's done. 
And we Empower that entire 

341
00:17:49,700 --> 00:17:52,600
connectivity and the 
transactions and also manage the

342
00:17:52,600 --> 00:17:56,200
for behind-the-scenes. 
That's the vision and that's why

343
00:17:56,200 --> 00:17:59,200
we are excited about it. 
And as we recommend we do that 

344
00:17:59,700 --> 00:18:02,000
everything, you know, like 
Bitcoin become even more 

345
00:18:02,000 --> 00:18:05,700
mainstream in the Commerce. 
Well, that's what we are excited

346
00:18:05,700 --> 00:18:07,400
about. 
Now, how exactly we make it 

347
00:18:07,400 --> 00:18:09,200
happen. 
We were constantly working with 

348
00:18:09,200 --> 00:18:12,900
the developers and Merchants and
customers to see, we know what 

349
00:18:12,900 --> 00:18:16,000
what's important for them. 
And you know, what are the 

350
00:18:16,000 --> 00:18:17,100
friction? 
How can we help? 

351
00:18:17,100 --> 00:18:19,800
Whatever is helpful to make that
all happen will do? 

352
00:18:20,400 --> 00:18:24,000
I'm genuinely curious of just 
for how much education. 

353
00:18:24,000 --> 00:18:27,500
I know that you've explained out
sort of what the incentive is 

354
00:18:27,500 --> 00:18:29,100
for. 
These Merchants to accept 

355
00:18:29,100 --> 00:18:31,600
Bitcoin and crypto at large, as 
payments. 

356
00:18:31,900 --> 00:18:35,800
But what education is going into
these emergencies to understand 

357
00:18:35,800 --> 00:18:39,900
better sort of what is going on?
If any at all or is this simply 

358
00:18:39,900 --> 00:18:41,600
just Hey, this is the new 
product. 

359
00:18:41,600 --> 00:18:44,200
We're offering. 
Maybe what questions are your 

360
00:18:44,200 --> 00:18:47,700
Merchants asking you about 
Bitcoin in this new offering as 

361
00:18:47,700 --> 00:18:50,400
it's being rolled out. 
Yeah, so it's a great question. 

362
00:18:50,400 --> 00:18:54,700
So we are, you know, I speak to 
customers every day and one of 

363
00:18:54,700 --> 00:18:58,100
the things that constantly come 
on top before everyone is what 

364
00:18:58,100 --> 00:19:00,700
is that crypto strategy? 
So everyone is thinking about 

365
00:19:00,700 --> 00:19:03,900
it, but the problem is, people 
don't know. 

366
00:19:04,000 --> 00:19:07,300
A lot of details, like the 
education that you mention is 

367
00:19:07,800 --> 00:19:09,400
less. 
They understand, they are 

368
00:19:09,400 --> 00:19:12,400
awareness of Opto, they 
understand it's good, but they 

369
00:19:12,400 --> 00:19:15,000
don't really know how to go 
after it. 

370
00:19:15,300 --> 00:19:21,200
And also when they want to go 
after it, the the the bar they 

371
00:19:21,200 --> 00:19:23,400
have to pass to like, you know, 
understanding come to 

372
00:19:23,400 --> 00:19:24,900
understanding all the different 
companies. 

373
00:19:25,200 --> 00:19:27,600
Now talk about the 
implementation integration. 

374
00:19:29,000 --> 00:19:31,200
Those are steps. 
Nobody is ready to take because 

375
00:19:31,200 --> 00:19:32,900
there's so many other things 
going on. 

376
00:19:33,900 --> 00:19:38,900
So this is why both bringing up.
This product is very powerful 

377
00:19:38,900 --> 00:19:42,000
for them because V is already 
integrated into the margin and 

378
00:19:42,000 --> 00:19:45,900
if they can take advantage of 
this without having to study the

379
00:19:45,900 --> 00:19:49,000
whole thing and like go and do 
an entire market research and 

380
00:19:49,000 --> 00:19:51,500
make it available. 
Now, they can do an a/b test. 

381
00:19:51,500 --> 00:19:55,100
Like they can turn it on for a 
couple months and see what's 

382
00:19:55,100 --> 00:19:57,400
happening and see the results 
for themselves. 

383
00:19:57,800 --> 00:20:02,500
And So education is important 
but awareness is their education

384
00:20:02,500 --> 00:20:04,500
is important. 
But what is even more powerful 

385
00:20:04,700 --> 00:20:08,100
is make it so that they don't 
even have to think about it. 

386
00:20:08,100 --> 00:20:10,000
Make it an option and a 
configuration, they can a 

387
00:20:10,000 --> 00:20:14,100
beaters, see the power for 
themselves and then make 

388
00:20:14,100 --> 00:20:19,300
decisions based on a Yeah, I 
think I'll just see if I can 

389
00:20:19,300 --> 00:20:22,100
add. 
Obviously we work with like a 

390
00:20:22,108 --> 00:20:24,400
lot of developers. 
So I'm not in more in tune with 

391
00:20:24,400 --> 00:20:26,200
the merchants. 
But I think it's like coming in 

392
00:20:26,208 --> 00:20:28,900
the for light. 
I think that where you know, all

393
00:20:28,900 --> 00:20:31,500
these like Fortune 500 companies
kind of last year. 

394
00:20:31,500 --> 00:20:33,900
The past couple of years adding 
Bitcoin a to the balance sheet 

395
00:20:34,200 --> 00:20:37,100
has definitely brought a whole 
different perspective to just 

396
00:20:37,300 --> 00:20:39,200
you know, hey, well, how do we 
get this asset? 

397
00:20:39,200 --> 00:20:41,500
Right. 
How do we sell goods and 

398
00:20:41,500 --> 00:20:44,700
actually get Bitcoin and store 
it on the on the balance sheet? 

399
00:20:44,700 --> 00:20:48,100
And I think that's like a and 
hedging against, you know, a lot

400
00:20:48,100 --> 00:20:49,800
of people have cash on their 
balance sheets and hedging 

401
00:20:49,800 --> 00:20:54,300
against whatever macro, economic
environment, there might might 

402
00:20:54,300 --> 00:20:56,600
be. 
So I think that there's probably

403
00:20:56,600 --> 00:20:59,400
a different conversation as well
happening on that sort of side 

404
00:20:59,400 --> 00:21:01,900
right, where it's like, you 
know, obviously we're going to 

405
00:21:01,900 --> 00:21:04,700
get a new demographic in, right?
We're going to get new Shoppers 

406
00:21:04,700 --> 00:21:06,900
coming into the ecosystem. 
They spend more. 

407
00:21:07,300 --> 00:21:09,600
There's a lot of studies around 
that, which is really exciting. 

408
00:21:09,600 --> 00:21:13,400
But the second side is like, 
hey, this is an easy way to also

409
00:21:13,400 --> 00:21:14,800
get Bitcoin on the balance 
sheet, right? 

410
00:21:14,800 --> 00:21:19,900
And this is something that Store
and and I think that the those 

411
00:21:19,900 --> 00:21:23,400
conversations have been brought,
you know with huge companies 

412
00:21:23,400 --> 00:21:25,700
adding that on like 
microstrategy and Tesla and a 

413
00:21:25,708 --> 00:21:27,800
few others over the past couple 
of years. 

414
00:21:27,800 --> 00:21:30,900
So we were I think it's gonna be
really exciting as leveraging 

415
00:21:30,900 --> 00:21:33,500
that on macro economic 
standpoint. 

416
00:21:34,400 --> 00:21:37,400
Not telling you how to run your 
company module but it kind of 

417
00:21:37,400 --> 00:21:40,600
sounds like your next project 
definitely build to build to be 

418
00:21:40,600 --> 00:21:44,200
to build out that infrastructure
for everyone who's holding their

419
00:21:44,200 --> 00:21:46,900
Bitcoin on balance sheets after 
They've collected money from 

420
00:21:46,900 --> 00:21:50,700
their customers to that, now, 
spend it to their suppliers and 

421
00:21:50,700 --> 00:21:52,700
so on. 
But that's just my two cents on 

422
00:21:52,700 --> 00:21:55,300
it, after hearing, after hearing
the last like, five minutes. 

423
00:21:55,700 --> 00:21:58,500
That's where my head is going 
after you guys roll this out, is

424
00:21:58,700 --> 00:22:00,500
right. 
Now, how did these Merchants 

425
00:22:00,500 --> 00:22:02,900
unlock using their Bitcoin more 
and more? 

426
00:22:03,500 --> 00:22:07,200
I'm curious right now, how much,
how many payments are being 

427
00:22:07,200 --> 00:22:10,400
processed by bolt on a daily or 
maybe on an annual basis? 

428
00:22:10,400 --> 00:22:12,200
I don't know if you have those 
numbers handy. 

429
00:22:12,900 --> 00:22:16,800
Well, I mean, we balloons. 
Dollars a year. 

430
00:22:16,800 --> 00:22:22,500
So it's our, we have a fairly 
large customer base and most of 

431
00:22:22,500 --> 00:22:25,300
our customers and to be larger 
side. 

432
00:22:25,300 --> 00:22:29,000
So even though the number of 
customers may be more, the they 

433
00:22:29,000 --> 00:22:31,000
are, most of them are on the 
larger side. 

434
00:22:31,000 --> 00:22:34,900
So we transact many billions of 
dollars of transactions every 

435
00:22:34,900 --> 00:22:37,100
year. 
And one of the advantage of the 

436
00:22:37,108 --> 00:22:40,100
Bulb Has is when bolt is what 
emerges. 

437
00:22:40,100 --> 00:22:43,200
Campsite we take all the entire 
check out. 

438
00:22:43,200 --> 00:22:47,400
So we are not like a separate. 
Button for checkout, you know, 

439
00:22:47,400 --> 00:22:50,700
there's so many different 
bottoms nowadays to do, the 

440
00:22:50,700 --> 00:22:54,500
check out on a checkout screen 
and they don't get the consumer,

441
00:22:54,500 --> 00:22:56,800
will have to make a choice if 
they want to click one of those 

442
00:22:56,800 --> 00:23:00,600
buttons. 
Both does not follow that 

443
00:23:00,600 --> 00:23:02,800
pattern. 
We replace the merchants main 

444
00:23:02,800 --> 00:23:06,000
check out. 
So we bring the Power of One 

445
00:23:06,000 --> 00:23:08,200
Click into their native 
workflow. 

446
00:23:08,600 --> 00:23:12,500
That means for us, is we get all
the transactions that are 

447
00:23:12,500 --> 00:23:14,600
happening on the merchant side 
flow through our system. 

448
00:23:14,800 --> 00:23:18,000
So we are able to say Higher 
level and help Merchants to 

449
00:23:18,000 --> 00:23:20,800
choose the different payment 
options. 

450
00:23:20,800 --> 00:23:25,900
They want to use, which is why, 
as enabling Bitcoin means, it's 

451
00:23:25,900 --> 00:23:28,300
not a consumer, has to make two 
choices. 

452
00:23:28,300 --> 00:23:31,800
Now, it in a big bowl, bold and 
then pick Bitcoin from that. 

453
00:23:31,900 --> 00:23:35,400
Say, both is already integrated 
into the merchants workflow and 

454
00:23:35,400 --> 00:23:37,300
check out. 
And if Bitcoin is their default 

455
00:23:37,300 --> 00:23:40,700
payment, no decision made the 
minute you type in your email 

456
00:23:40,700 --> 00:23:44,900
address and say you wanted to, 
you know, we recognize you and 

457
00:23:44,900 --> 00:23:46,700
immediately we know. 
Repayment options. 

458
00:23:46,900 --> 00:23:50,000
It's all natively built into the
account so we can make it 

459
00:23:50,000 --> 00:23:53,500
happen, much better than any of 
the other kind of a separate 

460
00:23:54,100 --> 00:23:56,500
workflow that getting added on 
to Chicago. 

461
00:23:57,000 --> 00:23:59,700
Moser. 
I'm curious what point during 

462
00:23:59,700 --> 00:24:03,000
the transaction is Bolt 
receiving. 

463
00:24:03,000 --> 00:24:06,000
Some sort of a cutter fee. 
Is that more felt on the 

464
00:24:06,000 --> 00:24:08,700
merchant side, or I'm assuming 
it is. 

465
00:24:08,700 --> 00:24:11,900
But what point or we're not 
transaction cycle is that 

466
00:24:11,900 --> 00:24:13,000
happening? 
Yeah. 

467
00:24:13,000 --> 00:24:15,700
We the way we charge is what we 
charge. 

468
00:24:15,900 --> 00:24:21,600
Even we help a merchant. 
So we charge when we can enable 

469
00:24:21,600 --> 00:24:24,600
a one-click transaction for a 
merchant. 

470
00:24:24,800 --> 00:24:29,700
So if we help then we, we take a
small benefit out of that. 

471
00:24:29,700 --> 00:24:34,700
So think of it's like a small 
percentage of the gmv 

472
00:24:34,700 --> 00:24:38,000
transactions when we help 
Merchants with a one-click 

473
00:24:38,000 --> 00:24:40,300
transaction, which they wouldn't
have gotten otherwise without 

474
00:24:40,300 --> 00:24:44,500
booked so and and that's great 
economics for merchants because 

475
00:24:44,500 --> 00:24:47,500
we know that whenever Emergent 
can provide a one-click 

476
00:24:47,500 --> 00:24:50,000
transaction where people don't 
have to type in all the 

477
00:24:50,008 --> 00:24:54,100
information. 
They see that around 60%, 

478
00:24:54,100 --> 00:24:57,800
increase in conversion happens, 
so high likelihood of 

479
00:24:57,808 --> 00:25:00,900
conversion, which is great when 
Ecommerce is awesome. 

480
00:25:00,900 --> 00:25:04,100
It's also amazing. 
When when you have fewer number 

481
00:25:04,100 --> 00:25:07,300
of Shoppers on your side, again,
converting them will become even

482
00:25:07,300 --> 00:25:09,600
more important. 
So providing that one click 

483
00:25:09,600 --> 00:25:12,900
transaction is a great 
conversion benefit lift for 

484
00:25:12,900 --> 00:25:15,700
merchants, for, for merchants to
Shoppers. 

485
00:25:16,100 --> 00:25:20,300
Now the also, the interesting 
fact is a shopper who get a 

486
00:25:20,300 --> 00:25:24,500
one-click checkout experience. 
There is a 50% chance that they 

487
00:25:24,500 --> 00:25:27,300
will come back and become a 
repeat customer. 

488
00:25:27,900 --> 00:25:31,700
So we help initially with the 
Trans either, by converting a 

489
00:25:31,700 --> 00:25:36,200
visitor into a an actual 
customer and then we have a 

490
00:25:36,200 --> 00:25:38,100
customer into a lifetime 
customer. 

491
00:25:38,600 --> 00:25:43,200
So we are truly a merchant 
family company and we want to 

492
00:25:43,200 --> 00:25:45,700
make sure that the merchants can
compete and win. 

493
00:25:45,800 --> 00:25:49,100
In during this, you know, like 
the difficult times and 

494
00:25:49,100 --> 00:25:51,200
especially create more 
competition and choices in the 

495
00:25:51,200 --> 00:25:56,400
market for Shoppers. 
So, helping Merchants to convert

496
00:25:56,500 --> 00:25:59,700
and, you know, maintain their 
customers and keep them as a 

497
00:25:59,708 --> 00:26:01,400
lifetime customer is what we go 
for. 

498
00:26:01,500 --> 00:26:04,000
And we the economics work for 
both sides, which are winning. 

499
00:26:04,300 --> 00:26:09,100
I just had a question that I'm 
really mad at myself because it 

500
00:26:09,100 --> 00:26:14,400
was damn, I keep trying to type 
these up, but I did want to get 

501
00:26:14,400 --> 00:26:19,800
a sense from the You have you on
just how or what you guys 

502
00:26:19,800 --> 00:26:24,100
Envision being like some of the 
hurdles in Merchants you do 

503
00:26:24,200 --> 00:26:25,500
actually? 
No, that's not the question. 

504
00:26:25,500 --> 00:26:29,600
I want to ask online shopping 
and just online in general 

505
00:26:29,600 --> 00:26:31,600
virtual stuff. 
We're on Zoom right now that 

506
00:26:31,600 --> 00:26:35,000
really picked up to two years 
ago and we have slowly been 

507
00:26:35,000 --> 00:26:38,300
seeing over the course of the 
last, like six months, people 

508
00:26:38,300 --> 00:26:41,800
wearing thin of the online 
experience and going back into 

509
00:26:41,800 --> 00:26:45,600
faulting to in-person things. 
How has the online merchants? 

510
00:26:45,800 --> 00:26:49,100
- been doing for e-commerce in 
general through bolt size and 

511
00:26:49,100 --> 00:26:53,200
perspective, why the industry 
Trends as you rightly pointed 

512
00:26:53,200 --> 00:26:57,500
out is that you know, pandemic 
axillary, Commerce, probably, a 

513
00:26:57,508 --> 00:27:00,500
decade ahead. 
So it's nothing new. 

514
00:27:00,500 --> 00:27:02,900
We don't see any new trends. 
We just seen that it just 

515
00:27:02,900 --> 00:27:05,400
activated fast. 
And also, like I mentioned 

516
00:27:05,400 --> 00:27:08,700
before, people are more 
comfortable, you know, Shoppers 

517
00:27:08,700 --> 00:27:11,600
are becoming more conscious. 
They care about where they buy 

518
00:27:11,600 --> 00:27:14,600
from, just because it's cheap or
fast, doesn't matter. 

519
00:27:14,600 --> 00:27:18,400
You know, they care where It's 
coming from, who are the 

520
00:27:18,400 --> 00:27:20,600
supporting? 
Is at a local brand. 

521
00:27:20,700 --> 00:27:23,800
Do they understand the brand, 
what the brand stands for all of

522
00:27:23,800 --> 00:27:25,900
those became more and more 
important. 

523
00:27:26,100 --> 00:27:30,600
So what that means for merchants
is like, you really need to tell

524
00:27:30,600 --> 00:27:33,900
your story to The Shopper. 
So to tell the story you need to

525
00:27:33,900 --> 00:27:35,600
really understand what the 
Shopper is. 

526
00:27:35,900 --> 00:27:39,000
You need to know that identity, 
you need to communicate to them.

527
00:27:39,200 --> 00:27:42,300
And so a system, like, bold 
become very important for them 

528
00:27:42,300 --> 00:27:44,300
because we are the identity 
provider. 

529
00:27:44,300 --> 00:27:46,700
We identify the proper way. 
Recognize them. 

530
00:27:46,800 --> 00:27:49,200
So that the brands can tell 
their story, whether they are 

531
00:27:49,200 --> 00:27:52,500
local weather is what does stand
for as a sustainable, you know, 

532
00:27:52,500 --> 00:27:54,500
for the world. 
And where were they are? 

533
00:27:54,500 --> 00:27:57,200
Supporting all of those. 
Become very important. 

534
00:27:57,300 --> 00:28:00,700
Now, same way with the buying 
and different places at the 

535
00:28:00,700 --> 00:28:02,700
point of Discovery in 
spiritually or point of 

536
00:28:02,700 --> 00:28:03,900
inspiration. 
People are buying from 

537
00:28:03,900 --> 00:28:06,100
influencers. 
Again, the same thing, you know,

538
00:28:06,100 --> 00:28:08,400
it really understand the 
customer irrespective of where 

539
00:28:08,400 --> 00:28:10,900
they are buying from there by 
even your site, or anywhere 

540
00:28:10,900 --> 00:28:13,700
else. 
Now the e-commerce Trend during 

541
00:28:13,700 --> 00:28:17,100
the pandemic accelerator. 
Now, we are seeing a little bit 

542
00:28:17,100 --> 00:28:19,400
of deceleration of that. 
From an industry perspective, 

543
00:28:19,400 --> 00:28:22,900
not just from both Merchant 
side, but generally in Industry,

544
00:28:22,900 --> 00:28:25,900
if you look at the numbers 
eCommerce spreading to more like

545
00:28:25,900 --> 00:28:28,400
a you know, slightly more butts 
trending towards the 

546
00:28:28,400 --> 00:28:34,000
pre-pandemic kind of arranged 
what that means for all 

547
00:28:34,000 --> 00:28:37,700
emergencies. 
Now, you need to be even more 

548
00:28:37,700 --> 00:28:39,800
thoughtful on connecting with 
the murder. 

549
00:28:39,900 --> 00:28:43,300
Do your Shoppers because now, 
you know, you really need to 

550
00:28:43,300 --> 00:28:45,700
keep your Shoppers. 
You really need to like provide.

551
00:28:45,800 --> 00:28:49,100
Vide a great experience when 
they come there and you really 

552
00:28:49,100 --> 00:28:51,200
need to make sure that they 
understand what you stand for. 

553
00:28:51,200 --> 00:28:56,100
So bold is providing a great 
value for merchants to our the 

554
00:28:56,100 --> 00:28:58,800
journey through the app time 
through the crimes than the 

555
00:28:58,800 --> 00:29:02,400
change in the industry and you 
know as we continue. 

556
00:29:02,600 --> 00:29:07,300
But overall my view the personal
view on and kind of been working

557
00:29:07,300 --> 00:29:12,300
in e-commerce for last decade or
so, is that Ecommerce will 

558
00:29:12,300 --> 00:29:15,700
continue to grow an e-commerce 
will evolve and change. 

559
00:29:16,000 --> 00:29:18,700
Only channel will become the 
output of this. 

560
00:29:18,700 --> 00:29:21,100
But our means, is people all 
went online. 

561
00:29:21,700 --> 00:29:26,100
Now, stores are coming back and 
so a mixed omni-channel 

562
00:29:26,100 --> 00:29:29,400
experience where you can go to a
store, you know, whether and you

563
00:29:29,400 --> 00:29:31,400
can still get the online 
experience. 

564
00:29:31,400 --> 00:29:33,900
They are like, we have products 
like you, our core products 

565
00:29:33,900 --> 00:29:36,800
where you can put a QR code 
right next to our power back in 

566
00:29:36,808 --> 00:29:40,400
the physical store, and you can 
scan that QR code, you can L 

567
00:29:40,400 --> 00:29:44,200
learn more about that product. 
You can even order a slight 

568
00:29:44,200 --> 00:29:47,200
variance of that product. 
That's not And our store but we 

569
00:29:47,200 --> 00:29:49,300
can provide a lot of that 
experience. 

570
00:29:49,300 --> 00:29:52,200
And the same way that experience
the are connecting with your 

571
00:29:52,200 --> 00:29:54,000
virtual experience. 
You never buy something in the 

572
00:29:54,000 --> 00:29:56,400
physical world. 
How can you represent that in 

573
00:29:56,400 --> 00:30:00,400
the window in the virtual world?
So connecting your Zoom virtual 

574
00:30:00,400 --> 00:30:03,800
life, connecting the physical 
store, connecting the online 

575
00:30:03,800 --> 00:30:07,000
shopping. 
People want that omni-channel 

576
00:30:07,000 --> 00:30:12,000
experience and whoever can solve
that is going to be kind of 

577
00:30:12,000 --> 00:30:15,600
driving Innovation and bold. 
Mission is to kind of drive that

578
00:30:15,800 --> 00:30:19,400
We are investing and innovating 
in all those faces and we are 

579
00:30:19,408 --> 00:30:21,900
working with closely with 
customers to navigate through 

580
00:30:21,900 --> 00:30:24,100
that. 
But you know, whether it's an 

581
00:30:24,100 --> 00:30:26,100
app or a down that's when 
Innovation happen. 

582
00:30:26,100 --> 00:30:29,000
And that's when you can really 
differentiate between who really

583
00:30:29,000 --> 00:30:30,800
have a long-term View and who 
returned. 

584
00:30:30,900 --> 00:30:34,200
And we are lucky to have great 
customers and partners who are 

585
00:30:34,200 --> 00:30:37,400
thinking, really long-term want 
to innovate with us experiment 

586
00:30:37,400 --> 00:30:39,800
with us. 
And you know, I think with 

587
00:30:39,900 --> 00:30:43,200
Johnny and The Wider team is 
going to be like part and parcel

588
00:30:43,200 --> 00:30:46,100
of this wall experience. 
We want to try for Future. 

589
00:30:47,400 --> 00:30:49,200
Yali. 
I want to ask you something, you

590
00:30:49,200 --> 00:30:52,000
brought up earlier just about 
like the Simplicity of using 

591
00:30:52,000 --> 00:30:55,100
wire, like, as easy as linking a
credit card, or then, boom, 

592
00:30:55,100 --> 00:30:58,000
you're off kind of to the races.
Can you also made me touch on a 

593
00:30:58,008 --> 00:31:01,800
little bit of what I had asked 
maju to talk about through bolts

594
00:31:01,800 --> 00:31:06,000
perspective of fees, and we're 
wires really making the most of 

595
00:31:06,000 --> 00:31:08,400
their money there. 
Yeah, absolutely. 

596
00:31:08,400 --> 00:31:11,200
So we have two businesses. 
One is our on-ramp business and 

597
00:31:11,200 --> 00:31:14,200
then our second business is our 
API infrastructure. 

598
00:31:14,800 --> 00:31:16,600
Really. 
Kind of the Creeped out or the 

599
00:31:16,600 --> 00:31:20,600
stripe for Bitcoin per se. 
So, our first, our first part of

600
00:31:20,600 --> 00:31:23,100
the business is the on-ramp. 
We make it super simple. 

601
00:31:23,400 --> 00:31:27,400
We connect all the payment 
methods cards, ACH, wires sepa, 

602
00:31:27,500 --> 00:31:30,800
global bank transfers make it 
super, super simple, you know, 

603
00:31:30,800 --> 00:31:34,600
nice widget where you can 
redirect your customers to this 

604
00:31:34,600 --> 00:31:36,600
widget. 
We take our all the regulation, 

605
00:31:36,600 --> 00:31:41,300
the fraud, the the the 
conversion of the USD to or 

606
00:31:41,300 --> 00:31:43,300
like, Fiat into Kripke are to 
pick one. 

607
00:31:43,800 --> 00:31:45,500
You make it super simple in this
widget. 

608
00:31:45,700 --> 00:31:49,700
And then we enable within with 
low KY C, denote kyc, 

609
00:31:50,300 --> 00:31:55,000
low-friction to be able to buy 
crypto and deposit directly into

610
00:31:55,000 --> 00:31:56,900
a platform. 
And that's like what we saw. 

611
00:31:56,900 --> 00:32:00,000
So, if a developer comes, you 
know, developers come into space

612
00:32:00,000 --> 00:32:02,500
and they're like trying to build
out the next coinbase. 

613
00:32:02,500 --> 00:32:04,600
So they're trying to build out 
the next square cash out. 

614
00:32:04,600 --> 00:32:06,400
But, you know, it takes a lot of
work. 

615
00:32:06,400 --> 00:32:09,500
It takes like a lot of like 
years of planning, it takes you 

616
00:32:09,500 --> 00:32:13,000
have to get the regulatory 
hurdles and and you have to 

617
00:32:13,100 --> 00:32:15,000
build a liquidity engine to 
actually convert. 

618
00:32:15,000 --> 00:32:16,500
You have to go to all Payment 
channel. 

619
00:32:16,500 --> 00:32:19,600
So as a developer, having the 
space, we make it super easy for

620
00:32:19,600 --> 00:32:22,100
people to have this on-ramp 
functionality into the 

621
00:32:22,100 --> 00:32:24,900
application. 
And we started off with that 

622
00:32:24,900 --> 00:32:28,800
mission around 2018 to how do we
really give billions of billions

623
00:32:28,800 --> 00:32:31,000
of people in the space? 
And this was a big problem that 

624
00:32:31,000 --> 00:32:33,900
and I'd so I'd still say that, 
you know, there's a big problem.

625
00:32:33,900 --> 00:32:35,800
So, focusing on right now on 
rapping. 

626
00:32:35,800 --> 00:32:39,400
So the way that we make fries, 
we obviously provide a lot of 

627
00:32:39,408 --> 00:32:41,800
value there. 
So we tried to feed, you know, 

628
00:32:41,800 --> 00:32:43,200
for cards. 
It's two point nine, nine 

629
00:32:43,200 --> 00:32:47,100
percent Plus $0.30 for For 
domestic payments. 

630
00:32:47,100 --> 00:32:49,400
And then for international, it's
3.9%. 

631
00:32:49,400 --> 00:32:52,600
Very similar to what you'd pay 
another card processing company,

632
00:32:52,600 --> 00:32:56,000
but you get so much more we 
identified for all the fraud. 

633
00:32:56,000 --> 00:32:58,400
Right? 
So if every single transaction 

634
00:32:58,400 --> 00:33:00,700
that comes through, the merchant
doesn't have to worry about 

635
00:33:00,700 --> 00:33:03,100
that. 
We run our fraud engine and with

636
00:33:03,100 --> 00:33:05,500
both Rod engine that we're 
working together on, it's going 

637
00:33:05,500 --> 00:33:08,500
to be even better. 
They're in. 

638
00:33:08,500 --> 00:33:11,100
The second thing is we take care
of all the liquidity converting 

639
00:33:11,100 --> 00:33:13,000
u.s. 
Dollars in Bitcoin and setting 

640
00:33:13,000 --> 00:33:16,700
it on the blockchain that 
ecosystem is Is, you know, and 

641
00:33:16,700 --> 00:33:19,300
getting the best rate at 
different values at different 

642
00:33:19,300 --> 00:33:21,900
times. 
Is not a, you know, it's an 

643
00:33:21,900 --> 00:33:23,600
easier problem. 
But when we started in 2012 

644
00:33:23,600 --> 00:33:26,500
2013, there's like a quite 
difficult problem to actually 

645
00:33:26,500 --> 00:33:27,900
solve this like winning the 
engine. 

646
00:33:28,500 --> 00:33:31,700
So we make it super simple. 
And that's, that's what we 

647
00:33:31,700 --> 00:33:33,800
charge there. 
And they for our API 

648
00:33:33,800 --> 00:33:36,000
infrastructure. 
It's completely free to use up 

649
00:33:36,000 --> 00:33:39,200
front and you can come to us and
we charge pay-as-you-go type 

650
00:33:39,200 --> 00:33:43,100
model where you you know, as 
your business scales up we try 

651
00:33:43,100 --> 00:33:46,800
to per transaction fee. 
So it's It's quite simple. 

652
00:33:46,800 --> 00:33:49,300
We make it super easy for 
developers come in and start 

653
00:33:49,300 --> 00:33:52,900
building immediately with us. 
That's the beauty of why I 

654
00:33:52,900 --> 00:33:56,400
thought, you know, just very 
like smart how he and the team 

655
00:33:56,400 --> 00:34:01,400
has built his overtime is kind 
of build the API layer so that 

656
00:34:01,600 --> 00:34:04,300
every developer who want to 
build something around this, 

657
00:34:04,700 --> 00:34:09,300
they can build it like without 
any friction and it made it 

658
00:34:09,300 --> 00:34:12,400
super easy and simple and 
comprehensive I think wire is. 

659
00:34:12,800 --> 00:34:15,600
I mean, it is why it is the most
comprehensive appr. 

660
00:34:15,699 --> 00:34:17,300
Stack that's available on the 
market. 

661
00:34:17,300 --> 00:34:20,000
So and I spoke a lot of 
developers who are trying to 

662
00:34:20,000 --> 00:34:23,400
like, Cobble together 
applications by building pieces 

663
00:34:23,400 --> 00:34:26,199
from different place or they can
just come to wire and wire 

664
00:34:26,199 --> 00:34:28,300
provides everything top to 
bottom. 

665
00:34:28,300 --> 00:34:32,600
So I think that's a big enabler 
for developers. 

666
00:34:32,600 --> 00:34:35,500
And you know, how many 
developers you have already 

667
00:34:35,500 --> 00:34:37,800
using their system today? 
Yeah. 

668
00:34:37,800 --> 00:34:42,800
So we have roughly then we have 
over four to five thousand 

669
00:34:42,800 --> 00:34:47,000
developers playing around at any
given time on our I stack with 

670
00:34:47,000 --> 00:34:51,199
end users in the in the tune of 
like 6 to 7 million end users 

671
00:34:51,199 --> 00:34:54,000
from those platforms. 
So just to tying it to what 

672
00:34:54,000 --> 00:34:57,800
module said, 100% like we want 
to provide a pool and and stack.

673
00:34:57,800 --> 00:34:59,700
So if you're trying to go to 
coinbase and less than a few 

674
00:34:59,700 --> 00:35:02,600
hours, we provide you with the 
wallet infrastructure. 

675
00:35:02,600 --> 00:35:05,100
We provide you with the payment 
infrastructure, the send money 

676
00:35:05,100 --> 00:35:06,600
in. 
We provide you with the payout 

677
00:35:06,600 --> 00:35:09,300
infrastructure to pay out money 
and then the whole liquidity 

678
00:35:09,300 --> 00:35:12,300
engine from moving US dollars to
bitcoin Bitcoin the u.s. 

679
00:35:12,300 --> 00:35:15,500
Dollars or US dollars to bitcoin
Bitcoin 2 euros. 

680
00:35:15,800 --> 00:35:18,500
And move Value Plus the entire 
planet. 

681
00:35:18,600 --> 00:35:20,400
We're very much a global player 
as well. 

682
00:35:20,400 --> 00:35:23,300
So we're not just focused with 
in the u.s. 

683
00:35:23,300 --> 00:35:26,700
We have other jurisdictions and 
we take care of all the hurdles 

684
00:35:26,700 --> 00:35:29,800
around the regulatory front. 
So we have like that money 

685
00:35:29,800 --> 00:35:31,900
transmission, licenses. 
We have licenses all over the 

686
00:35:31,900 --> 00:35:33,800
world and a lot of these 
developers. 

687
00:35:33,800 --> 00:35:37,400
They can just Leverage come in, 
leverage our infrastructure to 

688
00:35:37,400 --> 00:35:40,300
do that. 
So, we are really end-to-end 

689
00:35:40,300 --> 00:35:42,000
layer. 
So, you know, if say I want to 

690
00:35:42,008 --> 00:35:44,200
build a Bitcoin payment 
processor, there's a lot that 

691
00:35:44,200 --> 00:35:47,000
goes into that, you have to 
build the Cue our sister QR Code

692
00:35:47,000 --> 00:35:48,700
system. 
You have to build the liquidity 

693
00:35:48,800 --> 00:35:50,600
the payout system to pay out 
your Merchants. 

694
00:35:50,600 --> 00:35:54,100
Once they get Bitcoin into u.s. 
Dollars or some fiat currency so

695
00:35:54,300 --> 00:35:57,200
that if there's a lot of pieces 
and you can come to wire and 

696
00:35:57,200 --> 00:35:59,600
just build that out and less 
than less than a couple of 

697
00:35:59,600 --> 00:36:01,400
hours. 
So we make it super simple for 

698
00:36:01,400 --> 00:36:04,300
people to build out a product. 
That's amazing. 

699
00:36:04,300 --> 00:36:07,700
Like the power I've seen is that
you can can build your own 

700
00:36:07,700 --> 00:36:12,100
coinbase. 
In a couple of hours, which is 

701
00:36:12,200 --> 00:36:14,300
fascinating. 
I love giving everything that 

702
00:36:14,300 --> 00:36:17,000
coinbase has been going through 
over the last 48 hours there. 

703
00:36:17,300 --> 00:36:20,300
Surely about to be a new coin, 
maze pop out soon enough. 

704
00:36:21,700 --> 00:36:25,600
I love this Simplicity of 
building applications. 

705
00:36:25,700 --> 00:36:28,400
It's a necessity. 
I think in the larger ecosystem 

706
00:36:28,400 --> 00:36:32,400
and we'll feed well to just the 
growth and use cases of Bitcoin.

707
00:36:33,000 --> 00:36:36,300
I however, have another question
that is probably more personal 

708
00:36:36,300 --> 00:36:40,200
because this is my nightmare. 
My nightmare is spending my 

709
00:36:40,200 --> 00:36:43,800
Bitcoin because of the tax 
implications of that. 

710
00:36:44,200 --> 00:36:48,300
What processes if any have you 
guys sort of put in to help 

711
00:36:48,300 --> 00:36:52,800
customers kind of not get so 
tepid about maybe spending a few

712
00:36:52,800 --> 00:36:56,500
hundred dollars in Bitcoin, but 
then figuring out how that tax 

713
00:36:56,500 --> 00:36:59,100
hurdle is going to play into 
effect for them. 

714
00:36:59,600 --> 00:37:01,300
Yeah. 
This is a this is a problem that

715
00:37:01,300 --> 00:37:04,000
everyone saying I get paid in 
Bitcoin, in a lot of people at 

716
00:37:04,000 --> 00:37:06,100
wire, get paid in Bitcoin as 
well. 

717
00:37:06,600 --> 00:37:09,900
So it's always kind of the 
hurdles like Hey, I get paid. 

718
00:37:09,900 --> 00:37:11,900
There's cap gains tax on my 
payroll. 

719
00:37:12,300 --> 00:37:14,800
So I'm kind of getting double 
paid every time I spend and I'm 

720
00:37:14,800 --> 00:37:17,100
just like, I love it. 
I absolutely love it. 

721
00:37:17,100 --> 00:37:19,800
And it's great. 
I usually have a hundred dollars

722
00:37:19,800 --> 00:37:22,700
to in cash in my bank account. 
They'll tell don't tell my mom, 

723
00:37:22,700 --> 00:37:25,600
but I have a lot but, you know, 
if you sit on a Bitcoin in my 

724
00:37:25,600 --> 00:37:30,200
payroll, but but yeah, it's 
it's, you know, I think this is 

725
00:37:30,200 --> 00:37:32,700
this stems to of regulatory 
front on the how, you know, 

726
00:37:32,700 --> 00:37:35,600
Germany, just made it no cap, 
gains taxes for the first like 

727
00:37:35,600 --> 00:37:37,900
two years. 
So there is some regulation 

728
00:37:37,900 --> 00:37:40,300
coming and spending On how you 
use Bitcoin, right? 

729
00:37:40,300 --> 00:37:43,000
So not everything. 
Like if you look in the Fiat 

730
00:37:43,000 --> 00:37:45,100
world, like, not every dollar is
treating the same, like how you 

731
00:37:45,100 --> 00:37:48,000
invest dollars and securities is
different than how you invest 

732
00:37:48,000 --> 00:37:50,100
dollars in property and so 
forth. 

733
00:37:50,100 --> 00:37:52,900
And I think that regulation will
catch up there. 

734
00:37:52,900 --> 00:37:56,700
And if we want this to be a 
Global Currency, we, you know, 

735
00:37:56,700 --> 00:37:58,600
which we do. 
And we wanted to be a 

736
00:37:58,600 --> 00:38:00,800
decentralized currency. 
There's going to be some merger 

737
00:38:01,000 --> 00:38:03,900
of this centralized World in a 
decentralized world in this. 

738
00:38:04,500 --> 00:38:06,700
And, and there are needs to be 
some kind of understanding on 

739
00:38:06,700 --> 00:38:08,300
like, hey, this is Bitcoin 
payroll. 

740
00:38:09,200 --> 00:38:13,900
And your caps can't access 
shouldn't be denominated there. 

741
00:38:13,900 --> 00:38:16,000
But it is a, I don't have a good
answer to that. 

742
00:38:16,000 --> 00:38:18,600
I like you. 
I wish I wish I, if anybody 

743
00:38:18,600 --> 00:38:20,000
does, I think it'd be very 
interesting. 

744
00:38:20,000 --> 00:38:23,100
I think that the only thing is 
like you want to get it to a 

745
00:38:23,100 --> 00:38:26,000
place where you're using Bitcoin
and spending Bitcoin, right? 

746
00:38:26,000 --> 00:38:28,900
So like you're getting paid in 
Bitcoin and then you're actually

747
00:38:28,900 --> 00:38:30,200
just paying for things in 
Bitcoin. 

748
00:38:30,200 --> 00:38:33,900
I think the integration boat 
here is going to help us get a 

749
00:38:33,900 --> 00:38:35,200
step closer there. 
Right? 

750
00:38:35,200 --> 00:38:38,600
So we'll be able to there's 800 
more Merchants where I can now 

751
00:38:38,800 --> 00:38:41,400
I'll spend my Bitcoin and that 
gets me closer to living in this

752
00:38:41,900 --> 00:38:46,600
beautiful Bitcoin, only economy,
which were really excited about.

753
00:38:46,800 --> 00:38:50,400
Yeah, you touch on it a little 
bit Yadi and I love for both of 

754
00:38:50,408 --> 00:38:55,300
you to maybe discuss the 
legislative efforts around Bit 

755
00:38:55,300 --> 00:38:59,400
Coin and crypto at large, can be
both helpful in hurtful to 

756
00:38:59,400 --> 00:39:01,300
long-term benefits. 
We're seeing countries like 

757
00:39:01,300 --> 00:39:04,300
Panama introduced, broader 
crypto legislation to 

758
00:39:04,300 --> 00:39:09,200
essentially figure out a way to 
back Channel Bitcoin and Others,

759
00:39:09,200 --> 00:39:12,600
as currency that country, we saw
El Salvador's news last year. 

760
00:39:12,800 --> 00:39:16,600
We saw the news out of Central, 
African Republic, just think not

761
00:39:16,600 --> 00:39:20,000
only two weeks ago. 
I'm curious what legislative 

762
00:39:20,000 --> 00:39:23,700
efforts you guys are paying very
close attention to if any at 

763
00:39:23,700 --> 00:39:25,400
all. 
Well, I mean, I would say like, 

764
00:39:25,400 --> 00:39:30,000
you know, obviously President 
Biden saying the strategy on 

765
00:39:30,000 --> 00:39:34,200
bitcoin, which is great. 
Like I think whether, you know, 

766
00:39:34,200 --> 00:39:38,600
the legislation and everybody's 
all the legislators, really 

767
00:39:38,700 --> 00:39:40,900
Adding and studying. 
All the details is important 

768
00:39:40,900 --> 00:39:43,900
because I worry, that one of the
biggest problems people have 

769
00:39:43,900 --> 00:39:47,200
this cursory understanding of 
things, and they really don't 

770
00:39:47,300 --> 00:39:50,600
really go deep. 
And, and so people make these 

771
00:39:50,600 --> 00:39:53,300
assertions without really 
understanding the foundation. 

772
00:39:53,400 --> 00:39:57,500
And so educating and really 
going deep and making sure that 

773
00:39:57,500 --> 00:40:00,000
the government spend enough time
understanding all the specifics 

774
00:40:00,000 --> 00:40:04,600
is a good thing. 
The second thing is, you know, 

775
00:40:04,600 --> 00:40:08,600
for all is a big area of concern
for any of these things, right? 

776
00:40:08,800 --> 00:40:12,000
How do we bring the identity 
aspect into it? 

777
00:40:12,000 --> 00:40:15,000
How do we bring and eliminate 
fraud so that this is more of a 

778
00:40:15,000 --> 00:40:18,600
legal channel of translation 
versus kind of more overshadowed

779
00:40:18,600 --> 00:40:21,100
with any kind of anything else 
going on there. 

780
00:40:21,200 --> 00:40:25,400
So some legal some legislation 
and regulation is good. 

781
00:40:25,500 --> 00:40:29,700
As long as it is founded with 
deep study versus come when of 

782
00:40:29,700 --> 00:40:33,600
rhetoric at the very top level. 
And so that's kind of my view. 

783
00:40:33,800 --> 00:40:36,700
We need to balance that and so 
the education need to be strong.

784
00:40:36,800 --> 00:40:38,600
The fraud system need to be 
stronger identity. 

785
00:40:38,700 --> 00:40:43,300
You to be strong in that way. 
It just goes from just Bitcoin 

786
00:40:43,300 --> 00:40:47,000
being used by a small group of, 
you know, like the people like 

787
00:40:47,000 --> 00:40:49,800
around only 4% of the internet 
users use crypto today, which is

788
00:40:49,800 --> 00:40:53,100
a really, really small 
population to make it really 

789
00:40:53,100 --> 00:40:56,300
mainstream because they don't 
need to worry about it because 

790
00:40:56,300 --> 00:40:59,000
it's all taken care. 
That's my view. 

791
00:40:59,000 --> 00:41:00,400
Yeah. 
I'm sure you spend a lot more 

792
00:41:00,400 --> 00:41:03,100
time on this. 
So yeah, we definitely do. 

793
00:41:03,100 --> 00:41:07,200
We spend a lot of time on this, 
you know, the, you know, so why 

794
00:41:07,200 --> 00:41:11,200
are you know, as Wires agnostic.
So we support a lot of different

795
00:41:11,200 --> 00:41:13,900
varieties, just not just 
Bitcoin, but we spent a lot of 

796
00:41:13,900 --> 00:41:16,100
time in stable coins. 
And there's a lot of he asked o 

797
00:41:16,100 --> 00:41:19,800
around stable coins and a lot of
work that is happening there and

798
00:41:19,800 --> 00:41:24,700
obviously algorithmic and which 
with the UST Fiasco happy and 

799
00:41:24,700 --> 00:41:27,200
now it could be very 
interesting, but also see some 

800
00:41:27,200 --> 00:41:29,300
centralized stable points as 
well. 

801
00:41:30,100 --> 00:41:33,300
So there's a lot of work that we
went spent a lot in the past 

802
00:41:33,300 --> 00:41:34,600
year. 
Really, promoting. 

803
00:41:34,600 --> 00:41:39,500
I think long-term Bitcoin has is
the, the stable Currency that we

804
00:41:39,500 --> 00:41:43,800
need right like in the long run.
So like it's just a the time 

805
00:41:43,800 --> 00:41:46,600
Horizon that everyone's buying. 
We're trying to put current 

806
00:41:46,600 --> 00:41:50,200
regulation in kind of like the, 
you know, everyone. 

807
00:41:50,900 --> 00:41:54,100
I feel like there's a lot of 
pressure in the regulatory 

808
00:41:54,100 --> 00:41:57,100
bodies to do something right 
now, which could is, is a 

809
00:41:57,107 --> 00:41:58,000
positive thing. 
Right? 

810
00:41:58,000 --> 00:42:01,200
I think it's, you know, could 
help promote and provide like a 

811
00:42:01,207 --> 00:42:03,200
playground for startups. 
Actually. 

812
00:42:03,200 --> 00:42:05,000
Hey, we have a direction. 
What to do? 

813
00:42:05,000 --> 00:42:09,200
Like, instead of like I force my
my action type of, You're where 

814
00:42:09,300 --> 00:42:12,500
you operate for a couple years 
and then you get hit by the SEC 

815
00:42:12,500 --> 00:42:15,300
but with a fine without any 
understanding of that, what 

816
00:42:15,400 --> 00:42:18,000
you're supposed to do. 
So, I think there is some sort 

817
00:42:18,000 --> 00:42:19,700
of Regulation that is really 
really healthy. 

818
00:42:19,900 --> 00:42:23,600
But I think in terms of like a 
long-term strategy Bitcoin has 

819
00:42:23,600 --> 00:42:26,100
is going to be its own stable 
currency, right? 

820
00:42:26,100 --> 00:42:32,500
And that is the ultimate going 
to Bitcoin in you know, will fit

821
00:42:32,500 --> 00:42:34,200
in the current regulatory 
infrastructure. 

822
00:42:34,200 --> 00:42:37,700
That different government bodies
are are promoting right now. 

823
00:42:37,700 --> 00:42:39,300
It's stupid. 
Determined. 

824
00:42:39,400 --> 00:42:42,100
I think there were probably ten 
to fifteen years out from that 

825
00:42:42,200 --> 00:42:45,900
to be honest where if you know 
you can safely use Bitcoin as a 

826
00:42:45,900 --> 00:42:51,800
stable currency, but it's just I
think we're what I'm trying to 

827
00:42:51,800 --> 00:42:53,000
say. 
I guess it's like I think we're 

828
00:42:53,000 --> 00:42:55,700
a little too early. 
I was a really bad time to bring

829
00:42:55,700 --> 00:42:59,000
up stable. 
Currencies in a big point today.

830
00:42:59,000 --> 00:43:05,000
All 100% Yeah. 
I think it's algorithmic or 

831
00:43:05,000 --> 00:43:09,200
whether it's Central fact is, 
there's there's definitely Pros 

832
00:43:09,200 --> 00:43:12,900
and cons to both ways. 
And everyone thinks I would 

833
00:43:12,900 --> 00:43:16,300
think is the best but we've 
seen, you know, Tara has 

834
00:43:16,300 --> 00:43:19,500
positive blockchain today. 
Like I can't imagine they're 

835
00:43:19,500 --> 00:43:22,400
going plus something they 
brought in any day of the week 

836
00:43:22,600 --> 00:43:24,000
any time soon. 
I don't think that's even 

837
00:43:24,000 --> 00:43:28,000
possible. 
So, I mean that happened in that

838
00:43:28,000 --> 00:43:32,100
happened today with Tara And in 
but we've also seen with 

839
00:43:32,400 --> 00:43:34,800
Heather. 
Also the same time, you know, 

840
00:43:35,200 --> 00:43:39,000
Central back, centralized back, 
stable currency, having Shoes. 

841
00:43:39,000 --> 00:43:43,400
And so there's what we're trying
to say is like there's a lot of 

842
00:43:43,408 --> 00:43:46,600
Regulation going into managing 
stable currencies, right? 

843
00:43:46,600 --> 00:43:49,400
And I think there's, there's a 
short game that there is being 

844
00:43:49,400 --> 00:43:52,700
had right now and I think it's 
healthy and some respect, but 

845
00:43:52,700 --> 00:43:55,900
the long game is really having a
fully decentralized stable 

846
00:43:55,900 --> 00:43:59,100
currency that is operating 
without a central body, right? 

847
00:43:59,100 --> 00:44:00,800
This is the end game for 
Bitcoin. 

848
00:44:01,000 --> 00:44:04,000
And, you know, we're probably 
like 10 to 15 years out. 

849
00:44:04,200 --> 00:44:06,700
I'm all for regulation. 
I'm not promoting. 

850
00:44:06,800 --> 00:44:10,300
That's not right. 
Do you think And I'm all for 

851
00:44:10,300 --> 00:44:12,200
regulation. 
Like we would a lot of what we 

852
00:44:12,200 --> 00:44:14,600
do is make it easy for 
developers to play and 

853
00:44:14,600 --> 00:44:17,500
Regulatory regimes, right? 
Because we do all the hard 

854
00:44:17,500 --> 00:44:19,500
miles, getting regulated with 
money transmission. 

855
00:44:20,100 --> 00:44:22,900
Working with sec. 
We're going to the cftc, but I 

856
00:44:22,908 --> 00:44:25,500
think there is a long game 
there, too. 

857
00:44:26,700 --> 00:44:29,000
Also that even the crisis aren't
stable. 

858
00:44:29,000 --> 00:44:31,100
Going are all even all of 
crypto. 

859
00:44:31,600 --> 00:44:34,700
I mean, I've had the opportunity
to kind of leave through and 

860
00:44:34,700 --> 00:44:37,700
kind of Drive Innovation or some
of the different Industries. 

861
00:44:38,300 --> 00:44:41,600
And even if you look like 
the.com, crash did not kill 

862
00:44:41,600 --> 00:44:44,800
internet. 
It just separated, you know, the

863
00:44:44,800 --> 00:44:47,900
good ones from the bad ones, are
the good ones, who can survive, 

864
00:44:47,900 --> 00:44:51,500
no more trans. 
So some kind of changes and 

865
00:44:51,500 --> 00:44:56,100
Corrections in the industry. 
Just kind of Prove who are here 

866
00:44:56,100 --> 00:45:01,200
to stay and words. 
We're not just a and I think 

867
00:45:01,200 --> 00:45:04,600
might be a great moment for 
Bitcoin direct really kind of 

868
00:45:04,600 --> 00:45:06,600
shines. 
All of this and provide that 

869
00:45:06,600 --> 00:45:10,100
stability that probably nobody 
else has the infrastructure or 

870
00:45:10,100 --> 00:45:13,700
the or the the network to really
power through and whether 

871
00:45:13,700 --> 00:45:17,800
through all of this, Yeah, I 
mean look young. 

872
00:45:17,800 --> 00:45:19,600
You bring it up. 
Tear is blockchain. 

873
00:45:20,000 --> 00:45:22,000
Moon is blockchain, which shut 
down to the right. 

874
00:45:22,000 --> 00:45:24,400
Chris was Luna. 
Yeah. 

875
00:45:25,000 --> 00:45:28,400
We saw it last year during the 
meme stock crazy for you had. 

876
00:45:28,400 --> 00:45:32,500
Literally the shutdown of AMC 
and Game. 

877
00:45:32,500 --> 00:45:34,300
Stop stop. 
You couldn't trade those dogs 

878
00:45:34,300 --> 00:45:36,900
anymore. 
Plenty of us have had our banks 

879
00:45:36,900 --> 00:45:39,000
to say. 
Hey, this credit cards, Frozen 

880
00:45:39,000 --> 00:45:41,000
or are you can't access this 
bank account? 

881
00:45:41,300 --> 00:45:44,900
So this has happened repeatedly 
throughout multiple different 

882
00:45:44,900 --> 00:45:49,800
ecosystems, but To God is why it
cannot happen in Bitcoin that 

883
00:45:49,800 --> 00:45:52,200
type of a concentrated attack 
cannot happen because of the 

884
00:45:52,200 --> 00:45:55,700
decentralized nature of it. 
I'm genuinely curious for the 

885
00:45:55,700 --> 00:45:59,100
two of you to maybe speak on. 
You know, a lot of us in Bitcoin

886
00:45:59,100 --> 00:46:02,100
get really frustrated when 
Bitcoin and crypto get lumped 

887
00:46:02,100 --> 00:46:04,700
together, especially by law, 
makers and legislators. 

888
00:46:05,500 --> 00:46:09,100
As these lawmakers, maybe start 
to learn a little bit more about

889
00:46:09,100 --> 00:46:12,400
this ecosystem and what the 
different products really are. 

890
00:46:13,200 --> 00:46:16,400
What, what point do you guys 
get? 

891
00:46:16,500 --> 00:46:20,200
Nervous of them striking down 
against the Bitcoin or could do 

892
00:46:20,400 --> 00:46:24,600
is there may be a Securities 
that are a Securities tag on 

893
00:46:24,600 --> 00:46:28,800
some of these assets are on some
of these crypto currencies that 

894
00:46:28,800 --> 00:46:31,100
would in turn make some of these
offerings a little bit more 

895
00:46:31,100 --> 00:46:34,600
cumbersome to roll out. 
Yeah, just just adding I think 

896
00:46:34,600 --> 00:46:37,500
there's a lot still a lot of 
Education to happen right up 

897
00:46:37,500 --> 00:46:40,100
until like 20, you know, we had 
a lot of issues with like kind 

898
00:46:40,100 --> 00:46:42,700
of like privacy laws in the 
internet era. 

899
00:46:42,700 --> 00:46:44,100
Right? 
And that's you know, The 

900
00:46:44,100 --> 00:46:46,200
Internet's been around for 20 
plus year. 

901
00:46:46,200 --> 00:46:48,900
I mean Been around longer than 
that, but it's really in the 90s

902
00:46:48,900 --> 00:46:53,600
really started really getting 
popularity and up until like 

903
00:46:53,600 --> 00:46:56,000
maybe still today. 
We have a lot of like privacy 

904
00:46:56,000 --> 00:46:59,600
issues like and we see a lot of 
bad regulation happening. 

905
00:46:59,800 --> 00:47:02,700
I mean, everyone clicks those 
like data privacy laws on every 

906
00:47:02,700 --> 00:47:05,100
single EU website. 
So there's like, this is a 

907
00:47:05,100 --> 00:47:07,200
symptom of just like bad 
regulation, right? 

908
00:47:07,200 --> 00:47:12,000
And not thinking forward about 
how we think about like trust 

909
00:47:12,000 --> 00:47:14,200
and privacy. 
So I think that that's going to 

910
00:47:14,200 --> 00:47:16,100
happen with crypto on bitcoin, 
right? 

911
00:47:16,100 --> 00:47:18,500
It's going to happen Bitcoins 
gonna get lumped into crypto. 

912
00:47:18,500 --> 00:47:20,600
There's a lot of Education that 
needs to happen and it there 

913
00:47:20,600 --> 00:47:24,700
will be you know, we are you 
know, Bitcoins Unstoppable. 

914
00:47:24,700 --> 00:47:27,800
Now, right there is way too much
information, happiness space. 

915
00:47:27,800 --> 00:47:30,600
There's way too many 
entrepreneurs coming to build 

916
00:47:30,700 --> 00:47:32,800
into this ecosystem. 
We've seen countries adopt 

917
00:47:32,800 --> 00:47:36,600
Bitcoin as a stable currency, or
as a reserve currency, or even 

918
00:47:36,900 --> 00:47:41,200
as a for valid tender. 
And I think that were just at 

919
00:47:41,200 --> 00:47:45,000
the starting point here. 
So, I think that it all starts 

920
00:47:45,000 --> 00:47:47,600
with education and there is Some
really good work happening 

921
00:47:47,600 --> 00:47:49,200
there, right. 
You see. 

922
00:47:49,200 --> 00:47:52,200
Jack Mahler is going down to uh,
Salvador, doing incredible work.

923
00:47:52,200 --> 00:47:55,000
Work with the president there. 
That's, you know, more of that 

924
00:47:55,000 --> 00:47:58,500
going to happen day in day out 
and we're doing great work here 

925
00:47:58,500 --> 00:48:02,900
at enabling Merchants to accept 
Bitcoin and making more valid at

926
00:48:03,100 --> 00:48:07,600
the get except crypto or accept 
the coin as a as a payroll and 

927
00:48:07,600 --> 00:48:11,100
then actually pay your Bitcoin. 
So I think that it's a natural 

928
00:48:11,100 --> 00:48:13,900
progression and you're going to 
have this for the next 40 years.

929
00:48:13,900 --> 00:48:18,800
It's, you know, people will not 
And you know as technology moves

930
00:48:18,800 --> 00:48:21,300
too fast for people to 
understand and you have these 

931
00:48:21,300 --> 00:48:25,700
Decades of periods of people 
trying to keep up, that's just a

932
00:48:25,707 --> 00:48:28,600
natural progression module. 
You have any thoughts on that 

933
00:48:29,200 --> 00:48:29,800
thing? 
You said it? 

934
00:48:29,800 --> 00:48:33,900
Well, right. 
Now people these are all real. 

935
00:48:34,300 --> 00:48:37,300
Every time technology go through
a transformation, the similar 

936
00:48:37,300 --> 00:48:39,100
kind of cycle happened. 
There's going to be a lot of 

937
00:48:39,107 --> 00:48:41,300
different players. 
It got confused and that is 

938
00:48:41,300 --> 00:48:45,700
going to be some portion and the
ones with the most Network and 

939
00:48:45,700 --> 00:48:49,500
Power And the deepest technology
Will Survive. 

940
00:48:49,500 --> 00:48:54,400
So and also people always 
overestimate the short-run 

941
00:48:54,500 --> 00:48:57,200
benefits and underestimate the 
long term that is right. 

942
00:48:57,200 --> 00:49:02,800
So I think this is one of those 
scenarios like it's educational 

943
00:49:02,800 --> 00:49:06,500
process, a lot more people need 
to learn and understand and 

944
00:49:07,300 --> 00:49:10,700
people having a deep 
understanding of Bitcoin versus 

945
00:49:10,700 --> 00:49:13,400
just the broader crypto. 
All of that is going to be poor 

946
00:49:13,600 --> 00:49:15,500
soul. 
You have to stay well that and 

947
00:49:15,500 --> 00:49:17,700
I'm doing. 
A curious for the tribute to 

948
00:49:17,700 --> 00:49:20,400
maybe share. 
So as this offering gets rolled 

949
00:49:20,400 --> 00:49:23,700
out to your customer base. 
What is next? 

950
00:49:23,700 --> 00:49:26,400
What have sort of the goals over
the next five to ten years for 

951
00:49:26,400 --> 00:49:30,000
the company to continue to grow 
and expand its footprint in the 

952
00:49:30,008 --> 00:49:34,100
Bitcoin, ecosystem module. 
You want to start this. 

953
00:49:35,000 --> 00:49:38,100
Yeah. 
I mean, our goal is to become 

954
00:49:38,500 --> 00:49:45,100
make weathers, buying, or using 
Bitcoin and crypto broadly 

955
00:49:45,500 --> 00:49:47,700
available. 
Where whether that's in a 

956
00:49:47,700 --> 00:49:50,500
virtual like, you know starting 
with an online like Commerce 

957
00:49:50,500 --> 00:49:54,500
Merchants moving to the virtual 
world make it available in the 

958
00:49:54,500 --> 00:49:58,700
in the physical store and pretty
much make it available 

959
00:49:58,700 --> 00:50:01,300
internationally and ubiquitous. 
So that people whenever they 

960
00:50:01,300 --> 00:50:04,500
think of payment, you know, this
is it that they don't need to 

961
00:50:04,508 --> 00:50:06,600
think about anything. 
I was there are none of the 

962
00:50:06,600 --> 00:50:09,000
other choices. 
We can simplify that so we want 

963
00:50:09,000 --> 00:50:11,200
to unify that experience. 
Eyes talk about that 

964
00:50:11,600 --> 00:50:15,600
omni-channel experience whether 
that's from a any transactions 

965
00:50:15,600 --> 00:50:17,900
whether that's Murmurs websphere
to be here. 

966
00:50:18,500 --> 00:50:23,000
Anytime you have this options of
exchanging value and exchanging 

967
00:50:23,000 --> 00:50:29,400
value will be done based on our 
underneath, our Chopper Network 

968
00:50:29,400 --> 00:50:31,400
that is basically a network of 
people. 

969
00:50:31,700 --> 00:50:35,000
They are wallets their 
information and the underlying 

970
00:50:35,400 --> 00:50:37,900
the the fraud system that's 
going to use all the data and 

971
00:50:37,900 --> 00:50:39,800
power of this thing and 
simplify. 

972
00:50:39,900 --> 00:50:43,500
So we don't really see an end to
it because this is a 

973
00:50:45,200 --> 00:50:47,900
never-ending process. 
Outer world and spreading that 

974
00:50:47,900 --> 00:50:50,700
and wire already has a global 
footprint. 

975
00:50:50,700 --> 00:50:54,100
Both has a global footprint. 
So combining all of that and 

976
00:50:54,100 --> 00:50:57,600
extending into the fall, 
different aspects of value, 

977
00:50:57,600 --> 00:51:00,300
being exchanged. 
We expect us to be there. 

978
00:51:00,400 --> 00:51:03,900
Yeah, tie into that. 
I mean like the the thing that 

979
00:51:03,900 --> 00:51:07,200
really attracted us about isn't 
just their presence in kind of 

980
00:51:07,207 --> 00:51:10,800
like the mainstream e-commerce 
the world, right? 

981
00:51:10,800 --> 00:51:13,700
They have an incredible network 
of merchants. 

982
00:51:13,700 --> 00:51:16,600
Incredible Network Shopper is 
that you can really get pick one

983
00:51:16,600 --> 00:51:19,700
really mainstream to a different
different audiences. 

984
00:51:19,700 --> 00:51:22,200
Really exciting. 
And if you take a step back, I 

985
00:51:22,207 --> 00:51:25,600
mean like you have retail 
businesses where the value 

986
00:51:25,600 --> 00:51:27,900
creation has been happening, you
know, retail businesses are 

987
00:51:27,900 --> 00:51:31,500
become eCommerce businesses, 
e-commerce businesses. 

988
00:51:31,500 --> 00:51:34,200
I've become fintech businesses. 
And fintech, businesses are 

989
00:51:34,200 --> 00:51:37,100
becoming big one businesses. 
And this is like the value chain

990
00:51:37,100 --> 00:51:40,400
of how things are going to 
happen or the next like five to 

991
00:51:40,408 --> 00:51:44,200
ten to fifteen years. 
So it with that mindset is like 

992
00:51:44,200 --> 00:51:46,200
we have a lot of work to do to 
get billions of people into 

993
00:51:46,400 --> 00:51:48,800
Quite right. 
There's no on ramps are still 

994
00:51:48,800 --> 00:51:52,200
broken their broken Flows at, 
you know, we're trying to work 

995
00:51:52,200 --> 00:51:55,600
with this, a different kyc 
processes in the Legacy world 

996
00:51:55,600 --> 00:51:58,600
that you know, started with the 
banks and whatnot. 

997
00:51:58,600 --> 00:52:01,600
And you know, we could up 
there's a lot of improvements 

998
00:52:01,600 --> 00:52:05,100
over you make their the we're 
working on payment systems that 

999
00:52:05,200 --> 00:52:08,400
have been created for the past, 
like in the past 100 years that 

1000
00:52:08,400 --> 00:52:11,400
were still using today, right? 
People are still selling sending

1001
00:52:11,400 --> 00:52:14,500
mail checks around actually pay 
for payroll and whatnot. 

1002
00:52:14,500 --> 00:52:17,300
So we're just modernizing. 
And trying to get people and 

1003
00:52:17,300 --> 00:52:19,500
build use cases to get people 
into Bitcoin. 

1004
00:52:19,500 --> 00:52:22,300
And you know, we started this in
20, you know, I started a 

1005
00:52:22,308 --> 00:52:24,800
company in 2012. 
And with this vision is like 

1006
00:52:24,800 --> 00:52:26,700
hey, would it be cool if people 
can use their Bitcoin and buy 

1007
00:52:26,700 --> 00:52:30,700
things and then it said like 
every curtain that weird up in 

1008
00:52:30,700 --> 00:52:33,400
the financial system we realize 
what what do you what do you 

1009
00:52:33,400 --> 00:52:34,800
mean? 
ACH is built this way. 

1010
00:52:35,000 --> 00:52:37,200
So if wires are built this way 
and it's like almost as 

1011
00:52:37,200 --> 00:52:39,500
curiosity. 
We realize that we have a lot of

1012
00:52:39,500 --> 00:52:42,300
work to do and getting making it
easier for people to build into 

1013
00:52:42,300 --> 00:52:45,000
this ecosystem. 
So this only accelerates over 

1014
00:52:45,000 --> 00:52:46,200
the, you know, in getting 
billions. 

1015
00:52:46,400 --> 00:52:49,200
People in space and I think that
that vision of getting people 

1016
00:52:49,200 --> 00:52:51,600
into a cripple, our economy or 
Bitcoin economy is not going to 

1017
00:52:51,600 --> 00:52:54,800
change and this is only going to
accelerate with all really 

1018
00:52:54,800 --> 00:52:56,000
excited about that. 
Yeah. 

1019
00:52:56,000 --> 00:53:00,200
I am genuinely curious like how 
as you seen for the Bit Coin and

1020
00:53:00,200 --> 00:53:03,800
crypto ecosystem, transform over
the course of your time, working

1021
00:53:03,800 --> 00:53:06,200
with, in it, like what are 
things that have surprised you 

1022
00:53:06,200 --> 00:53:09,500
that have come up and what are 
things that, you know, you 

1023
00:53:09,500 --> 00:53:13,800
genuinely are excited about as 
it continues to iterate and grow

1024
00:53:13,800 --> 00:53:15,900
in its own right? 
Are they? 

1025
00:53:18,200 --> 00:53:21,200
I think the what I'm surprised 
about in the current environment

1026
00:53:21,200 --> 00:53:24,600
as well as like, where people 
just fall in the same traps, 

1027
00:53:24,600 --> 00:53:26,000
right? 
We've seen the Ico trap and 

1028
00:53:26,000 --> 00:53:28,100
2017. 
We're seeing the similar trap 

1029
00:53:28,100 --> 00:53:31,300
right now and I think that it's 
just fascinating. 

1030
00:53:31,300 --> 00:53:34,300
I've been through many bear 
market like for Bear markets now

1031
00:53:34,700 --> 00:53:39,100
and it's just it's it's just 
fascinating seeing similar traps

1032
00:53:39,100 --> 00:53:43,800
happen in the same area and it 
retail markets, you know, follow

1033
00:53:43,800 --> 00:53:46,500
retail markets and people are 
going to get burned and they I 

1034
00:53:46,500 --> 00:53:49,200
say, educate and you find 
people, you know, migraine to 

1035
00:53:49,200 --> 00:53:52,900
the right environment or right 
communities, or right assets to.

1036
00:53:52,900 --> 00:53:56,800
So it's an interesting 
onboarding that we've seen in 

1037
00:53:56,800 --> 00:54:00,800
the past 10 years. 
And I think, I think it's good 

1038
00:54:00,800 --> 00:54:01,500
for that. 
It happens. 

1039
00:54:01,500 --> 00:54:04,900
Now, let's get all this stuff 
out of the way in the first like

1040
00:54:04,900 --> 00:54:08,700
ten years of building because 
this is like Bitcoins way too 

1041
00:54:08,700 --> 00:54:13,100
big to fail right now and and to
get it wrong and you know, we 

1042
00:54:13,100 --> 00:54:14,400
have a massive opportunity ahead
of us. 

1043
00:54:14,408 --> 00:54:16,200
So that's what that's what 
surprise. 

1044
00:54:16,300 --> 00:54:18,100
Me the most. 
I think it's extremely relevant 

1045
00:54:18,100 --> 00:54:23,000
to today as well in. 
No, I'm not so markets behaving,

1046
00:54:23,000 --> 00:54:25,900
the way that they behave. 
Love that.