BitcoinPoint: A New Paradigm - Benoit Marzouk (BitcoinPoint) - TOKEN2049 London

okay so um i'll start with a little quiz uh who holds bitcoin here all right uh who holds all coins okay so the bitcoin dominance is 45 of the crypto sector and bitcoin is actually the 40s currency just after swiss franc and it's the only cryptocurrency uh that is a legal currency um [Music] as you know since june the [Music] uh el salvador you i have a bitcoin as a legal tender and more more countries will follow um also twitter [Music] will allow its user to to tip other users through the lightning payments and jeff bezos announced that amazon will very likely accept bitcoin payments um so there's two opportunities we saw that a very easy on-ramp uh way to buy bitcoin and also investing through our auto buy and this year strategies and the remittance industry is a 500 billion dollar market and it's 25 billion out of the uk so we're going to do a demo of our app so you can type an amount you can buy in seconds open banking so you link your bank accounts and basically you [Music] you we were the first in the uk to implement or open banking uh the so you really in seconds uh link your bank account select the amount and as our wallet is non-custodial custodial onan custodial you really buy your bitcoin in seconds so as you can see in a few seconds you receive your bitcoin and so by default you would receive it on an online wallet but you can also receive it on any blockchain wallet so what we also implemented are we have 28 000 points of sales in the uk so the paypoint network and we also have the cartronics atm network which is 18 000 atm so what we're gonna implement very soon is the lightning payment uh so which will be a very good use case for twitter um and we will also implement um so um some rap btc and intel btc and swaps through d5 for other crypto so the our just two verticals the main one is the easy access to bitcoin the idea is to be the easiest way to buy bitcoin and the cheapest way uh to buy online it's only 0.2 percent and the second vertical we're looking at uh is remittances so the idea is to do instant bank transfers through uh on-ramp and off-ramp so what our our competitive advantage is we have a very you simplified ux so in one click you can buy bitcoin um the idea is to have a an app for the non-tech savvy people so for the 95 percent of the population to to really buy in super easily and we're compliant so we have a small money license and we also have the temporary crypto asset registration so our team we're mainly uh ex-finance professional and uh senior developers so our achievement we went from march 2018 with one agent to 46 000 location and our aim is to become like the leading bitcoin service globally for easy on-ramp and off-ramp uh and to reach three percent of the two main corridors in the uk for remittances which is uh india and nigeria so it's a 8 billion market opportunity yeah in terms of revenues it would be mainly the bitcoin exchange and the remittances but we will diversify also with our three other services and we are raising um at the moment one to three million dollars to scale the the business and so we we raised already seven hundred thousand dollars