Of course, developments in the cryptocurrency industry are not limited within Asian regions. From Italy, a payment system has emerged from the void. Coin News had the chance to get a brief interview from the CEO of Pay-Bit, Alessandro. Read on as he shares how he mounted this payment system.
Coin News: Hi, Alessandro. Can you tell us a bit about Pay-Bit? How long did it take you to launch your business?
Alessandro: Pay-Bit was published in about one month. Our main goal was not so much the design. We wanted to be modern and immediate with the security (SSL , XSS Shield) and stability of the payment system. We created our payment system on its own, relying on technology and API Blockchain. Though it may still be difficult to understand and accept, Bitcoin is a proven reality. All major corporations have started to accept this currency. We do not see why, and even people and small businesses do the same.
CNA: What can you say is the best thing or the definite advantages of Pay-Bit?
A: Pay-Bit comes from the idea of being able to give opportunity to all those who wish to sell their digital goods; nothing different from other pay-for-download platforms. The main difference is that Pay-Bit does not store any files. They are automatically encrypted and sent to random remote hosts. This gives multiple benefits: anonymity and security of payments occurred, for example. In addition, we give users the opportunity to comment and vote on loaded assets; this allows them to have an input on the genuineness of a file. We are continuing to add functionalities, including creating custom buttons and share automated payment of social networks.
CNA: What have been the greatest accomplishments you have had while operating Pay-Bit since its inception?
A: Certainly the most successful moment was when we established our first transaction. It was a time when members of our staff were paid off for one really remarkable job. One of the strengths of Pay-Bit is the automatic generation of a new Bitcoin wallet address for each load payment page. This allows practically the total anonymous transactions and sales because the original address of the seller is bypassed. Each seller still receives payments on his or her wallet in a few minutes.
CNA: What do you think Bitcoin needs to become a more prominent and reliable form of payment?
A: Bitcoin is a fantastic idea that has been made with the cooperation of all those who believed in the idea of a currency, decentralized and independent. Although at the moment, bitcoin is leveling, as other real currencies (see the stock market indexes, exchanges with other currencies, etc.) still has in our opinion, a big technology gap to fill. The speed and amount of transactions applicable at the time of the Bitcoin network is only the 10% of the capacity of normal banking transactions. For example, bitcoin can be loaded with around 10,000 transactions per minute, compared to over 100,000 of the circuit Mastercard. This for now is one big limit.
CNA: Do you think a superior altcoin will supersede Bitcoin in the near future?
A: Bitcoin will always be the first. We think it will remain the most popular and valuable of all the others.
CNA: Do you have a Bitcoin price prediction?
A: The day when the mining ceases, people will certainly find other ways to convert bitcoin. But anyway, I think that it will settle at around 2000 Euros for 1 BTC.
CNA: What can you say about online gambling laws and cryptocurrency regulation?
A: Gambling has always existed and has always used any type of currency, bitcoin and other cryptocurrencies are not excluded. The seriousness of the platforms of this type, however, should somehow be controlled to ensure the safety of users.
CNA: And for those Bitcoin novices out there, what can you advise them?
A: Sure: Your Files Worth Bitcoin; start to use www.pay-b.it! 😀
CNA: Thank you very much, Alessandro. It’s been a pleasure.
A: Thank you very much for this opportunity: to be able to briefly describe our work and to be able to talk about our impressions of the world of bitcoin with serenity. In Italy, we are still far behind, and people are tired of lies. For this, bitcoin is still taken with the distance. But fortunately, it is spoken about more every day.