The original Bitcoin promise of “electronic cash between pairs” has not developed exactly in the way Satos intended. More people who are ever anxious to pay in crypto, while most suppliers want nothing more than Fiat.
While the mismatch has many solutions in countries with a solid banking culture and credit cards, it is a real problem in places with alternative electronic payment rails, such as QR codes, says the crypto developer -wrice of pseudonymic Sheldon Cooper. How can you scan a fiduciary code and pay in Stablecoins?
Cooper’s claimed solution, P2P.me, does it without touching the regular light and off ramps. On the other hand, this Blockchain -based service is based on a network of intermediaries willing to accept the USDC, for example, Alice and send the Fiat equivalent to Bob. The whole process takes about 90 seconds, he said.
There are also no traditional identity controls. P2P.I examine its users with zero knowledge tests that verifies a presence in real social networks and perhaps even for an identification of the government. But it does not store this personal data such as most of the financial institutions of banks in Binance.
“What we think is: ‘How do we decentralize this? How do we do it and outside the Rams in a decentralized way,” said Cooper. “The number one concern is privacy and self custody. All these cexes give data to the government.”
The strange combination of markets without permission and privacy technology of P2P.me has processed $ 1.6 million in payments of around 1,100 users, mainly in Indonesia, Nigeria and Vietnam. That modest amount, growing rapidly, was enough to obtain the interest of the risk capitalists: Mulicoin Capital and Coinbase Ventures recently invested the seed round of $ 2 million p2p.me.
The money has already helped P2P. I climb his team to 20 people before a planned impulse in Latin America, Cooper said. He sees local communities fighting for navigating the financial rails established as key adopters. So do cryptographic tourists who go to places where their credit cards do not work, but their cell phones do.
Built at the base, the open protocol plans to launch a token in the next 12 months that will change the control to the community, according to Cooper.
“The strategic idea of Token is to climb worldwide, break the effects of the centralized exchange network with P2P,” he said.
