A child of Payyard, Yardwallet is your new and secure Bitcoin wallet, using the standard Bitcoin protocol based on HD Wallet (BIP32) technology. Kun Liu, Co-Founder and PM of Yardwallet, and I have a little chat on this great offering to the Bitcoin community for Coin News.
Jay-R Gatdula: Hi, Kun. Can you tell us a bit about Yardwallet? How did it come to fruition?
Kun Liu: We have got into the Bitcoin business since last April. Our team are all crazy about the technology of bitcoin and the blockchain. With that, we can develop lots of interesting products in different areas. Also, people can really hold their own money in the decentralized system. Generally, it’s hard for us to make the users and merchants understand and accept bitcoin. In the process of developing YardWallet, we focused on how to balance the security and the usability and made great efforts to let beginners use our app as easy as email.
JG: Interesting. What can you say is ground-breaking about Yardwallet? What can we expect from it?
KL: We are the first Bitcoin payment processor in China and have cooperated with many merchants, e.g. Golden Elephant Pharmacy (an online pharmacy), jc258.cn (a lottery site). Our Bitcoin wallet is the first on-chain, mobile wallet with which users can send coins by using their email addresses instead of Bitcoin addresses.
We have built a fantastic experience into a very sturdy wallet, with all the latest features the Bitcoin protocol has to offer. Most mobile wallets are hosted, relying on central servers that make them vulnerable to hacking attacks, users’ loss of funds, or identity theft. Our local on-chain wallet can deliver a better user experience and keep users’ funds and privacy safe. We will continue to enhance the security and the usability of YardWallet in the near future. Additionally, some practical features are planned to be developed for daily use. With bitcoin, trades between countries will be more convenient and the cost will be much lower. Additionally, the business about funds transfer will be enhanced, such as remittance.
JG: Why do you think Bitcoin is struggling to gain mainstream acceptance?
KL: There are more and more merchants that accept bitcoin, but the amount of payments in all these merchants is still very small in comparison to traditional methods. Perhaps, the reason why bitcoin is somewhat complicated for the beginners is that there is a lack of applications for users to experience in ordinary life.
JG: What’s your opinion on legality and regulation?
KL: Nowadays, the regulation or the laws don’t reach a consensus in all regions with gradual progress. The US is up front in this area which will be the reference of other countries. And we will follow the laws in the specific region to develop our products.
JG: That’s quite insightful. Finally, what can you advise those who are new to bitcoin?
KL: In the near future, bitcoin won’t be superpassed by another cryptocurrency because of first-mover advantage and the established business ecosystem. Just have a try and get support from friends or the Bitcoin community if you have any questions. Then you will find a new world.
JG: Thank you very much, Kun.