Interview withXapo: Bitcoin

Xapo is a new company, with an ambitious goal. To make Bitcoin more widespread, through a similar interface, essentially a Visa card. It is a debit card that is funded with Bitcoin. I was lucky enough to get an early access card and take it for a spin myself. I talked to Ted Rogers, the Chief Strategy Officer over at Xapo regarding Xapo as a company and a little bit about them.

xapo_debit_card_051. What sparked the idea of Xapo?

Xapo CEO Wences Casares saw the currency’s potential to impact people on a global scale and pursued the idea to build a company that makes Bitcoin more secure, accessible, and convenient.

2. Did you ever think you would receive so much funding from investors?xapo_debit_card_08

We’re grateful to work with some of the most reputable investors in the business.  We’ve been able to grow our team and continue to scale.

xapo_debit_card_043. History of development?

Xapo launched in March 2014 with the Bitcoin wallet and cold storage vault (the first of its kind). In April of this year, Xapo announced the addition of its debit card, which began shipping to customers last month.

xapo_debit_card_064. Some are against your card, saying its a step backwards. We should be getting AWAY from the fiat market. What would you say?

For the industry to grow, Bitcoin companies must make the currency easier to use and understand.  A debit card is familiar to millions of people.  Breaking down these barriers to entry speeds up the network effect of Bitcoin for everyone and drastically changes the lives of the unbanked in the world. Bitcoin is going to be a global payment network and the responsibility is on Bitcoin companies like Xapo to create the infrastructure and tools necessary to enable people to experience the true advantages of the currency. To date, this is has been extremely challenging and what we certainly view as a step forward.

xapo_debit_card_035. What were some of the toughest obstacles you had to go through?

The industry as a whole faces scrutiny and obstacles daily, as should be expected with any very new technology, but we are optimistic that the world will see that Bitcoin fundamentally changes society for the better. As a member of the Bitcoin ecosystem, we want to help overcome misconceptions and spread awareness about its potential for both the developed and developing world. We are attempting to do this in various ways, starting with an intense focus on maintaining the security of our products and, e.g., providing insurance to customers of xapo_debit_card_07our Vault.

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Photo Source: Xapo



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