Messaging could be the logical starting point for digital currency adoption, according to the CEO of bitcoin-enabled chat app Wiper.
In an interview with CoinDesk, Manlion Carelli praised bitcoinâs âamazingâ promise but said the currency remains difficult for beginners to use. âWiperâs goal is to make it more accessible to even first time smartphone users, so that its promise can be realised,â he added.
Launched in 2014, Wiper is part of a new wave of ephemeral messaging services that allow users to erase, or âwipeâ their conversations. The app also offers encrypted messages and phone calls, music streaming and, as of February, an embedded bitcoin wallet.
Once theyâve opted in, any Wiper user can send bitcoin to and receive bitcoin from their contacts within the app. Though Wiper would not disclose exactly how many wallets have been opened so far, Carelli said he has been particularly pleased with the response from Wiperâs asian user base.
Wiper uses a client-side wallet, meaning that its servers are not involved in the storage, sending or receiving of bitcoin. Instead, these operations are handled by the userâs device.
Each user can secure and restore their wallet with a deterministic key, a randomly-generated string of words that can be written down and stashed somewhere safe.
âConsumers can use the deterministic key to restore their wallet on a new device, if they loose their phone or get a new one,â said Carelli, adding that âthe awesome thing for Wiper users is when it comes to backing up their wallet, their life is radically simplifiedâ.
Unlike other messaging apps that offer payment functionality, Wiper reaches users without a bank account or debit card.
âSnapchat enabled users to send each other money through its integration with a payments company. But users on each side of the transaction require a debit card linked to MasterCard or Visa,â said the CEO.
Wiper wonât take a cut of bitcoin transactions either, Carelli confirmed:
âThere is a tiny mining fee paid into the bitcoin ecosystem which is typical of bitcoin transactions and goes to the miners for speeding up a transaction, but none of that fee goes to Wiper.â
With smartphone usage on the rise, Carelli thinks bitcoin has potential to provide access to financial tools for the 2.5 billion people that are currently unbanked.
âHow do you purchase bitcoin? Where can you spend it or convert it to local currency? Wiper is working on simplifying the answers to these questions.â
The CEO said that his companyâs mission was âto bring this amazing new tool to mainstream users around the worldâ, adding that the embedded wallet and sending and receiving functions are the foundation for Wiper to âbuild a complete solution to making bitcoin an everyday toolâ.
When asked about the messaging serviceâs focus on anonymity, he confirmed that privacy would continue to be an important element, adding that Wiper had âbeen architected so that it can later support multiple currenciesâ.
âStay tuned,â he added.