Making Blockchain Applications Available to Mainstream Users - Sami Start (Transak)

hi everyone i'm sami i'm the co-founder and ceo of tranzac and i'm here to speak about a problem that we're really passionate about which is how do we actually make blockchain applications accessible to mainstream users and the problem that we're facing right now and i think this is the most important problem that we have in the industry is that if you put a normal person off the street someone who doesn't know about crypto they haven't bought crypto before they haven't set up a wallet then and i've used compounds as a an example here you can invest and and yield on your on your crypto then they won't understand how to set up a wallet so they're gonna have to go somewhere and set up a wallet they're gonna have to do the whole seed phrase thing don't forget your private keys um there's gonna be a lot of drop off there and then they're gonna have to go to an exchange and they're gonna have to buy crypto and they're gonna have to put it into their wallet um again more drop off um and when they finally get to the app and and they have their wallet they have their crypto they're going to be overwhelmed by a lot of technical jargon and this is intimidating for a normal person and and we underestimate this because we're all technical we all understand the industry but people don't want to put their money somewhere that they don't understand and as many of you may have caught on already the solution is to drastically simplify the experience and make it something that you could take anyone off the street and they would just um be able to use it easily so um our vision our dream is is that you would land on the app and you would see some experience like this you have an email address you get a one-time password to your email address you have your bank account connected um you put in money via bank transfer or card payment um and it's this kind of magical easy experience and you can get started with the app in in one click and this obviously needs to be a global experience so you need to have payment methods from all over the world because people pay in different different uh in different ways in in different countries so if any of you haven't heard of transact before we're located just down the end of the hall and we do solve exactly this problem so we have a developer integration and you put it inside your app and the user can now buy crypto into a wallet without leaving the app and um we handle everything so um we integrate with payment processing uh we handle local compliance um regulatory licensing we handle the real-time liquidity and settlement so it's very very simple integration it looks like nothing you just put it in it's like a little box but there's a ton of stuff underneath the hood there and we have team all over the world that that do that um and um probably a lot of people in this audience have used us without even realizing it so if you have metamask wallets or some of the other major wallets and you've bought crypto from it then you may have bought crypto from us and you may be our customer so um probably most people in the audience know what metamask is it's the most popular wallet in the world and when you sign up to metamask this is the case study you set up a seed phrase and you have a wallet it's empty sad face you can't do anything you can't swap you can't do anything so you click the buy button transact pops up and you pay using whatever payment method you want so if you're in the uk that's faster payments or card payment and you then can do whatever you want you can do anything on the chain another case study is gaming or playing blockchain games and again uh um transact has integrated into z-run uh zed-run is one of these apps that's caught the industry by storm you buy a virtual horse which just happens to be an nft and you race that horse and it's play to earn so if you win you get money um this became really really popular especially with mainstream users so you integrate transact again you deposit with fiat um like a normal app so it it has all the benefits of a web3 app that is immutability that is trustlessness that is decentralization but it has that same web to user experience and that's how you take an app from being applicable to a few hundreds of thousands of people to being applicable to billions of people and you increase your market size by orders of magnitude you increase your roi on marketing by orders of magnitude and so if you have an app and you're not doing this then you're really chasing your tail and you're wasting your time uh finally ave um again i probably don't have to explain what ave is but in case you don't know it's a one of the if not the biggest defy applications um the use case i'm gonna explain it's pretty simple you you put in your crypto and you earn yield and it's a really really simple end user proposition okay so if you take someone off the street and you say you can deposit a thousand pounds do you want to earn more money or do you want to earn less money the answer is more money okay but if you take someone off the street and you say do you want to use a decentralized blockchain application the answer is probably no right like probably not so what ave has done is they've integrated transact to allow users to deposit with fiat and that takes it from being a very intimidating um you know app that you're probably not going to use if you're a normal person to being a mainstream fintech application um so thanks very much everyone for for listening to me and um yeah um thanks for everyone who who you know sat down and gave me your time i want to leave you with an inspiring message which is that this could be you so uh we're really on the pinnacle of of mainstream adoption of blockchain applications and and uh you can act now and you can take a very very large market um a market that hasn't been taken by the blockchain industry before we're very much still at the tinfoil hats and crypto native stage and and so make your app mainstream make it applicable to everyone and could be huge so thank you