6 Months ago, I dropped out of my second year at University to set out on a mission. My mission, was, and continues to be, to make peer-to-peer electronic cash payments accessible to billions worldwide.
In order for cryptocurrencies to be accepted by the mainstream, they must be spent and used as traditional monies: spending is, after all, the core function of any money. Inherently, use cases must be created to encourage spending and hence further adoption. In my attempt to build use cases, I came up with the idea to build an exchange for Bitcoin Cash.
The idea is simple: first, we launch a product with Bitcoin Cash pairs, in order to appeal to ecosystem participants. Then, we use revenue to drive adoption by building utility. This is realised in two ways:
- Firstly, by funding and supporting community projects, and secondly,
- by connecting Voltaire to the traditional banking system.
The main bottleneck of digital cash adoption is change. People don’t like it, and in order to make Bitcoin Cash an attractive alternative to fiat money, the advantages of using a digital cash system must far outweigh the inconvenience of change.
The first iteration of our vision was released two weeks ago. It’s a product we spent a lot of time developing, called Voltaire. It’s a simple exchange where users can trade Bitcoin for Bitcoin Cash, and back (hopefully just that one way). It’s something a lot of blood, sweat and tears has gone into and words can not describe how thrilled we are to finally have it out to the world.
I wanted to say a huge thank you from myself and the entire Voltaire team for believing in us throughout the past months, and to our first 500 users, who signed up during these two weeks. For those who don’t know, we have no fee trading for the next 6 weeks. We’ve plenty new features and partnerships planned for the weeks and months ahead and can’t wait to see what happens next.
I think Bitcoin is an ingenious invention, empowering people to control the monetary system like never before. Every day, we’ll do our best to help make this borderless, peer-to-peer, electronic cash system be available to every person on earth.
Semyon, founder @ Voltaire.cash