MobileCoin has managed to gather an astounding amount to fund their innovative cryptocurrency payment platform. By gathering a $66 million, they have been able to create a unique peer-to-peer payment system that adds another layer of security to crypto transactions. This system lies in stark contrast to other payment services and firms, as they are all centralized.
Through peer-to-peer networks, transactions can continue to stay private and continue to take advantage of the blockchain. The blockchain is a secure and transparent digital ledger that every company has. They are also very confident in their easy-to-use, secure, and fast system, which will allow everyone to make the transactions that they need wherever they are.
The CEO of MobileCoin, Joshua Goldbard, sat down for an interview with VentureBeat where he talked about the company and its goals. He mentioned that their service will allow transactions to complete in seconds, compared to the minutes that it may take other payment services. And even if you could wait minutes in certain situations, imagine trying to wait that long for coffee, said Goldbard.
The company’s CEO also managed to address that they were quite similar to fast payments apps like MasterCard, Visa, and Stripe. Of course, the major difference between MobileCoin and the aforementioned companies is that they deal with transactions in US dollars. But as for Goldbard’s company, it is quite unique in the crypto space.
It is quite obvious that a lot of thought and care has gone into creating MobileCoin and making it what it is. While its main selling point is that it is fast, there are various other factors that make it very appealing to consumers. The most appealing thing about it is that it works on a cell phone with a dedicated app, which makes it very reliable. It is also carbon negative, ensuring consumers that they take their responsibilities towards climate change very seriously.
Goldbard further explained in his interview the process of creating their service and what that means to him. He mentioned that his team had to engineer a lot from scratch, which lead to them working on the platform for four years. During those years they were developing the platform to meet the needs of the average crypto user. The CEO also mentioned that being a one of a kind does put a lot of responsibility on their shoulders. Therefore, they have ensured that their customer service is up to par.
Overall, when compared to all the other major players in the industry, MobileCoin is significantly faster. Bitcoin can transfer a single block in 10 minutes and Ethereum takes 35 seconds. On the flip side, MobileCoin takes a single second to transfer a block.