Former VISA CEO’s Start-up to Make Crypto Transfers As Simple As Sending an SMS

BTC Wires: Crypterium, the startup of Marc O’Brien, a former CEO of Visa UK, is all set to revolutionize the crypto industry by allowing users to transfer cryptocurrencies as easily as sending a message. The cryptocurrencies have had the reputation of being really complex to transfer, and sometimes a little time-taking as well. However, now that scene is about to change. Crypterium services will be allowing users to transfer digital currencies by only putting in a number on their phones. O’Brien has hailed this as a “Netscape” moment of the 21st century and remains convinced that the first absolutely user-friendly solution had finally made an appearance in the crypto scene.

A major complaint against most blockchain applications is that they are not appropriate for laymen. Usual blockchain applications betray a certain elitism that prefers tech savvy, expert and experienced people over ordinary people who have little clue what to do with technology beyond using their smartphones and managing their home appliances. The limited computer literacy of these layman users, as individual customers as well as within businesses, makes it difficult to implement blockchain solutions effectively. Such confusion often allows swindlers to take advantage of gaps in knowledge and the process also proves to be rather time-consuming owing to its complexity.

Crypterium is now attempting to make a mainstream solution that serves all kinds of users well. This service would allow them to easily and simply transfer cryptocurrency by simply writing the mobile number of the recipient, instead of the usual practice of writing the wallet number. After this, the recipient receives an SMS with a link to claim the cryptocurrencies sent to them, but the link comes with a set of instructions as to how this amount can be used, as specified by the sender. For example, one can send in a certain number of cryptocurrencies for the payment of bills. The entire process gets completed within seconds.

While the solution is a major step towards making crypto mainstreaming, we are yet to know for certain whether or not crypto will one day overtake traditional fund transfer systems such as Visa or MasterCard.

Dmitriy

Having majored in Social Psychology and Economics, I worked as a team lead of a tech and fundamental analysis lab in the Applied System Analysis Research Institute. I write financial articles for various international media. I also hold the position of a Chief Analyst at RoboForex.