CEO - WIREX: "GOODBYE Banknotes... Payments will be DIGITAL" - Cryptonites

[Ebrahmos]

Pavel - WIREX: "GOODBYE Banknotes... Payments will be DIGITAL", Crypto Debit Cards & Stable coins

Dear crypto community and blockchain buddies across the globe...
 
Welcome back to the no BS blockchain channel covering bitcoin,  cryptocurrency and everything around FinTech. Episode 6 is here with Pavel Matveev, the CEO of WIREX, the leading crypto payments company in the world! In this episode, Pavel tells us his quest to making bitcoin and cryptocurrency a globally recognized payment method so that we can finally classify bitcoin as THE first borderless internet of money. Wirex are also working on a IEO with OKEx which has been a really hot topic for the past few months...

(click on the picture to be redirected to the youtube video)

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[rdbase]

Really interesting news coming out of this company because I have been looking to join up with them for a while but have been on the fence about it.
It was either going with them or mco card for fiat to crypto transfers. But with them doing a deal with okex exchange then it no comparison on who to go with for doing these transactions with now.

[DaCryptoRaccoon]

This is very good to watch Wirex really are pushing bitcoin to the masses anyone who has not had the chance to try there platform really must.
Keep up the good work wirex!

[escalante28]

Wirex is now the answer for digital payments, that includes merchant payments and cross-border currency exchanges. So why fall in line if you can use wirex with your fingertips at any time and anywhere that is available for everyone, with highly secured visa card from fraud. Wirex is backed by SBI Group, a globally-renowned financial institution.

This will be the best project with the potential of this year. I have reviewed this and it was so amazing, hoping they will add some country local coins.

[ichai]

I think Wirex can really compete with Visa in the future. they are getting the best fund that is SBI group and I really believe that Wirex project will get the best support possible.
It seems that their marketing strategy is quite good, there are many people who are interested and Okex is helping them a lot.
We really should buy Wirex. It is really a big rival for any business in the financial payment service industry.

[Slow death]

unfortunately for people who live in the country as my country, we have no options to have bitcoin debit card and because of the great technological delay that exists in my country due to the absolute poverty allied to high level of corruption, we will be using paper money for the next 30 years in over 70% of the places in my country. Technological development is increasingly visible in rich countries

[timerland]

I don't think that anyone denies the fact that payments will go digital. In fact, there has been countries (e.g. China) that have already essentially switched exclusively over the digital payments, and cash is essentially made obsolete.

That's not the question here. I think that the question is in what form will the adoption of digital payments be in, whether it will be decentralized, centralized, or issued by various financial institutions themselves, like Wechat and Alipay's duopoly.

Furthermore, my personal stance on any sort of cryptocurrency that is pegged to a fiat currency is that it's intrinsically nothing different from a bank deposit, except with way more risk as it's unregulated.

[Twinkledoe]

I don't think that anyone denies the fact that payments will go digital. In fact, there has been countries (e.g. China) that have already essentially switched exclusively over the digital payments, and cash is essentially made obsolete.

That's not the question here. I think that the question is in what form will the adoption of digital payments be in, whether it will be decentralized, centralized, or issued by various financial institutions themselves, like Wechat and Alipay's duopoly.

Furthermore, my personal stance on any sort of cryptocurrency that is pegged to a fiat currency is that it's intrinsically nothing different from a bank deposit, except with way more risk as it's unregulated.

Some crypto which are pegged to fiat are really not stable as they seem. Do they honestly have the actual fiat money backing it? And more than likely, if the government will finally opt to digital payments, it would be centralized. I don't think they will permit a decentralized one. But switching totally to digital currencies is I think still far from many. Banks will not disappear anytime soon.

[b3llsf1l3s]

In my opinion there are too many projects that have the same goal of "Payment Gateway" whereas only with digital money I am still quite comfortable. More than enough with current daily activities. Cryptospace requires something different and certainly easy in blockchain implementation.

[marsya17]

There will be a very strong fight against a country that still prohibits bitcoin as a means of payment.
In Indonesia, bitcoin can only be used as an investment tool but is not allowed as a payment method.
Hopefully Wirex can solve the problem that is currently happening.

Bank of Indonesia said that the prohibition on payment using virtual money (bitcoin) has been regulated and has under in Law 7/2011 about Currency.
Source link: https://www.cnbcindonesia.com/fintech/20180115161532-37-1533/bi-kami-hanya-larang-bitcoin-sebagai-alat-pembayaran

[davis196]

It's way too early to to say goodbye to banknotes.They are still dominating the world economy and will continue to dominate for years to come.The total digital payment transaction volume is increasing every year,but crypto payments are a just a small portion.There's room for optimism,but let's not be so "over-hyped".

[stompix]

I think Wirex can really compete with Visa in the future.

Wirex is using VISA for its cards, so stop daydreaming.
I've got one of those and the only good thing at it is when it uses the VISA network for payments, when it comes to the wirex app and fees it sucks so bad I want sometimes to simple shred it.

We really should buy Wirex. It is really a big rival for any business in the financial payment service industry.

Don't.
Why would a company that is, in theory, doing so great need to have an ICO to raise more money?
And for what? For a shitty token with zero utility?

[DaCryptoRaccoon]

I think Wirex can really compete with Visa in the future.

Wirex is using VISA for its cards, so stop daydreaming.
I've got one of those and the only good thing at it is when it uses the VISA network for payments, when it comes to the wirex app and fees it sucks so bad I want sometimes to simple shred it.

We really should buy Wirex. It is really a big rival for any business in the financial payment service industry.

Don't.
Why would a company that is, in theory, doing so great need to have an ICO to raise more money?
And for what? For a shitty token with zero utility?

The WXT token actually gives more cashback on payments in bitcoin and drops the fee's for users.
I thought they were in trouble when I saw they were doing this IEO ( not ICO ) but turns out not to be the case.

Too many negative ICO's have made people here call scam at any hint of a token Stompix is wrong on this one.

WXT has purpose and gives those who hold it cheaper fees and more cashback on purchases. 
If the funds help the system grow the I don't see what the issue with is.

Not like there going to vanish overnight (Not working with visa they won't)

[peter0425]

It's way too early to to say goodbye to banknotes.They are still dominating the world economy and will continue to dominate for years to come.The total digital payment transaction volume is increasing every year,but crypto payments are a just a small portion.There's room for optimism,but let's not be so "over-hyped".

I agree, I'm also under the impression if we are going to say goodbye to them, then we might as well see the downfall of banking system. But it is not going to happen, this institution has been with us for years. Yes we will go digital in years to come, but banks will still be here no matter what.

[stompix]

WXT has purpose and gives those who hold it cheaper fees and more cashback on purchases.  
If the funds help the system grow the I don't see what the issue with is.

Not like there going to vanish overnight (Not working with visa they won't)

Do you know what purpose means?
How is holding wirextoken in your account serve any purpose?  That's not a purpose, that's a reward.

Oh, it would grant you cheaper fees and better cashback. Why it only applies for their tokens, you could hold 5000 euros on your account, why not give those users also better cashback and better fees.
ESPECIALLY!!!! since you have to hold those tokens in your account, letting them act as collateral.

Do you realize what insane cash grab this IEO is?
Not only do they sell you a worthless token, but they force you to keep them in your account if you want to enjoy better fees, making sure you won't sell even one or try to redeem them.

And further, let's do some math.

Since crypto back for normal accounts is 0.5% and for holding 5000$ is 1.5% it means you will have to spend 500 000$, half a million with their card to get even!!!!
And you're going to see those benefits only starting September!

And it doesn't stop there.
The total supply is 300 000 000 tokens, so only 600 people would be able to benefit from it.

Lols, lols and rolf and lmao!

[roosbit]

It's way too early to to say goodbye to banknotes.They are still dominating the world economy and will continue to dominate for years to come.The total digital payment transaction volume is increasing every year,but crypto payments are a just a small portion.There's room for optimism,but let's not be so "over-hyped".

Too early???! This should have been done like yesterday!

FYI People are already doing away with cash transactions and preferring to pay for goods and services by swiping which is very much in line of achieving total digital payments.

And a cashless world means better security for us as there are fewer chances of losing money on you or getting pickpocketed or misplacing it, but of course, going digital is still not as flawless as it sounds because there are vulnerabilities which still need some work to be done.

[yusupjatigumilar]

Interesting threads, conventional banks in the next few years will rarely be used and used only in certain fields that cannot use payments using crypto currencies digitally. Many governments have taken this step in several countries, not just companies that do this, because the use of digital transactions using crypto currencies is considered more practical and efficient and more economical in terms of cost and time needed.

[dothebeats]

They basically just build another layer of service between users and merchants and payment processors so I don't really think that their fee structure will be pretty. Anyhow, at least they know that digital payments would be the future of our society. It will take a long time before everything is digitized though we're already in for a massive start. Credit and debit cards are the first phase, followed by crypto. I'm just somewhat hesitant to use my phone to scan whenever I'm in an unfamiliar place, but that's still okay considering that were bound to do all of those in the future.

[thehun]

I think it's in everyone's interest. Governments want to have full control of the flow of money so they can tax everything, users want comfort and people who want anonymity will thankfully have untraceable crypto to use. So it's a win-win.

[Shenzou]

Wirex was really a good virtual credit card company back in 2017, it really allowed me and many of us to use bitcoin anywhere on the internet with the bitcoin debit card that they had, but then they shut it down when the support was ended by master card and visa, and it is good to see them getting back and trying to provide the same quality of service that they had a couple of years ago, and i can't wait to see what they are going to do this time.