Cryptocurrency wallets should be just as easy and safe as iPhone

Ran NeuNer of CryptoTrader interviewed Bitcoin Cash CEO Roger Ver at the Korea Blockchain Week held between 16th July and 20th July. NeuNer and Ver took a subtle resolve to refrain from discussing Bitcoin or Bitcoin Cash, paying more attention to other subjects.

NeuNer began the conversation with a quick confession. He told Ver that their last meeting made him wonder why Ver was spending most of his time on cryptocurrency wallets. However, NeuNer is now of the understanding that the wallet is the entry point into the cryptocurrency space. He asked:

“I think I’ll now get it [Ver’s reason for focusing on wallets]. It’s because the wallet is everybody’s entry point into crypto. You don’t need to try to do an exchange but you must have a wallet. Is that the right thinking?”

Roger Ver joined the dialogue and replied by saying that the wallet is the interface that enables the users to choose the cryptocurrency they want to use. It also defines a user’s trading activities. Therefore, Ver stated that the wallet is the most ubiquitous part of the cryptocurrency ecosystem.

Next, the CryptoTrader host asked Ver for his opinion about the ongoing hype surrounding cryptocurrency exchanges and trading coins. NeuNer further asked if speculation is the only use-case of cryptocurrencies. To this, the CEO responded by saying:

“No, but I think there’s a lot of hype around anything when you see how much money these exchanges are making. So anything that makes that much money is gonna get a lot of hype but more competition is going to come to that space and we’re gonna see the profit margins pushed down over time.”

Post this topic, the two returned to discussing the wallet ecosystem and its development to date. Neuner mentioned that there is not a single wallet that can accommodate multi-coins and multi-phones. Ver agreed to this, saying:

“Yeah I wish I could say that the wallets are, you know, awesome and my grandma can use them but no, we have a long long long long ways to go with the wallets.”

Ver also talked about the future vision of wallets and how an ideal wallet would be. In his opinion, it should be user-friendly and compared the desired result with Apple’s product usage feasibility. Here, he appreciated Apple for building the iPhone in a way that is ‘easy for everybody to use’. Moreover, the crypto-enthusiast wants these wallets to be as safe as an iPhone.

Speaking of the security aspect of a wallet, Neuner tossed private keys and their significance into the discussion. According to Ver, remembering the private keys is not a problem on hardware and software. Most of the leaks that take place are a result of social engineering attacks or people failing at maintaining the confidentiality of their private key.

Lastly, Ver was asked to mention an upcoming project that he is excited about. Here, he denied mentioning any projects in particular but expressed his excitement over prediction markets. In his words:

“I’m really excited about prediction markets. I think people have really underestimated how important prediction markets are to society as a whole because not only can they be used to predict the future, they can be used to figure out what actions we should take today, to achieve our desired goals for tomorrow.”

He also added that the prediction markets are extremely powerful tools that can be used to influence the future outcomes.