This is a transcribed excerpt of the "Bitcoin Magazine Podcast," hosted by P and Q. In this episode, they are signed up with by Alyse Killeen to discuss what is taking place in the VC area in relation to Bitcoin and what surprise gems are ripe for financial investment today.Watch This Episode On YouTube Or Rumble
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Alyse Killeen: I'm curious with a lot going on, how you all consider the essential things to focus on in the development area. We talked a bit about Swan's acquisition, which is interesting due to the fact that it's a business that has actually kept such a dedication to their neighborhood, so I'm delighted to see them grow.
We spoke about Taro and what that provides for adoption. I question how you all consider it. From Stillmark's viewpoint, simply to lead with a response here, from Stillmark's viewpoint, what we like to do is look at where the procedures are going and then to expect what that suggests for business owners and facilities and apps.
I provided the example of speaking about seeing Segwit trigger in 2017, and understanding what that implied for Lightning Network or for entrepreneurship and development in missing facilities that would be constructed on top of Lightning Network. We see it in that sort of progressive accumulation, however I'm curious from your viewpoint, how things increase to the top of your list in terms of what's crucial and amazing.
P: Man, that is a wonderful concern. I'll offer my ideas and I 'd enjoy to hear Q's. I believe, as I pointed out previously, among the most considerable difficulties that we deal with in the Bitcoin area is the UX issue. How can we increase the typical individual's capability to embrace bitcoin?
In the U.S., we have a level of monetary advantage, considered that we exist within the nation that is presently the world's reserve currency, however in numerous other locations that is not the case. I believe innovations like Fedimint and things that make it simple for individuals who aren't thinking about bitcoin for the broad factors that all of us are, to embrace it and instantly see those positives-- individuals that are running in overbearing monetary routines, individuals that are attempting to determine how they can keep and continue the worth that they've made gradually and area due to the fact that they have real, lived experience of their federal governments taking that wealth. I believe those are the most fascinating innovations to me.
Second, I would state innovations that enable us to better protect our monetary personal privacy and flexibility in industrialized nations. We've been yapping about CBDCs (reserve bank digital currencies). We talked the other day with Natalie Smolinski, who's gon na be affirming in a congressional hearing tomorrow about how CBDCs are a sales funnel for Satan.
I believe innovations that permit the typical individual-- who isn't by default focused on monetary personal privacy-- innovations that permit them to embrace that actually quickly and natively are gon na end up being increasingly more crucial as the obstacles that we deal with worldwide continue to warm up.
Those are the important things that are most intriguing to me.
Killeen: So P, I was simply going to state that we see things likewise here, and what among the important things that Stillmark does is take a look at how the innovation can be utilized to fulfill individuals where they remain in regards to both embracing BTC, the property, and Bitcoin, the procedure.
So I'm gon na offer an intriguing example of this, which is a business that we relatively just recently purchased called Pink Frog. Therefore what Pink Frog is truly, it's a video game studio, however what they're going to do is they're going to incorporate Lightning Network in order to offer a much better neighborhood experience for their players, and they're going to utilize sats as benefits in the video game, and likewise rewards in between users.
We've seen that prior to and possibly that's not fascinating explained in the manner in which I simply laid it out, however here's the information that I believe actually makes it engaging and reveals a development in the Bitcoin community, broadly. This is a group that is not originating from the Bitcoin viewpoint, however is originating from the video gaming point of view.
So a group originating from King, which is among the most prominent studios and effective studios in the video gaming world, and it's the group that presented and grew Candy Crush. And Candy Crush is a video game that has actually seen 100 million month-to-month active users as an example of the adoption that this group has actually had the ability to attain.
Now, what they did when they left King and introduced Pink Frog is they believed deeply about the video gaming experience and how it might be made much better for their players. And what they're doing is they're taking a look at a young millennial, a Gen Z audience. They're looking at like the TikTok audience and they're attempting to see how innovation or other sorts of developments can link with what these players are looking for.
So they're not actually attempting to require bitcoin in, they're recognizing Bitcoin as a method to serve a requirement and a desire that they've observed in their user base. Therefore it's actually amazing to see the innovations be utilized in this method, which is simply to resolve issues or to use some sort enjoyable action to a thing that individuals desire.
And instead of attempting to persuade individuals that they desire bitcoin, it's utilizing Bitcoin innovations to satisfy individuals where they are and to incorporate with their lives or the manner in which they're investing their time. Pink Frog is a good, enjoyable example of that. Going back to the extremely start of our discussion, Taro was the severe application of that, where when we presented Lightning Network in emerging markets, and I'll utilize El Salvador once again as the example, we saw that individuals truly required to be banked through Bitcoin and through Lightning Network. They required to be able to engage with their regional neighborhood and online, without a debit or charge card, and actually that was Lightning Network for them. BTC's volatility was hard for individuals of lower socioeconomic status. Taro comes in to fulfill individuals precisely where they're at and to provide an option for something that they understand they require, which are tools to engage both in their regional and in the international economy.
What you're stating truly resonates with me due to the fact that I'm thrilled about precisely the very same, which is the manner in which Bitcoin can increase to a range of obstacles that future users have.
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