It's hong kong not the USSA...... There they have reasonable regulation and per heritage.org the most free market economy in the world by far (the US is only moderately free with Americans enjoying about half the freedom of people in hong kong, and paying a lot more tax for it).

And you're right, it's great for the foreign domestic helpers to pay pennies instead of 10%. Same for small business. Everyone, actually, Except the banks and traditional transmitters. Gotta love disruptive technology!

Don't watch

No Robert, they're not even in China (if you listen or read). So this has nothing to do with what you suggest. Disclaimer: I have no connection (and never have) whatsoever with this company or person.

@David R. Hong Kong is "China enough" for me.

@Robert. First, I'm a skeptic of crypto and buy the views about it by MacroVoices' Eric Townsend (who BTW is now also a HK permanent resident). But to your point, sorry your accusation that this startup's purpose is for mainland Chinese to money launder just doesn't wash, pardon my pun haha. First, how do they first get cash in size into HK now? Second, nobody launders that way anymore, like nobody jets out with a briefcase of gold bullion or bond/stock certificates now. Third, look at their small transaction limits. If you consider their alleged main purpose is to enable migrant workers to transfer their meager cash pay back to their homeland, and look at the list of countries they service (ie., countries that source poor migrant workers to HK and Singapore), their purported mission seems entirely consistent with the circumstances. She found a market need and filled the niche. Good on her. We need more of this entrepreneurial spirit. Smart, multilingual, multicultural, motivated, attractive, self-made. I envy her hubby Mr Ryan, lol. Seriously tho if you'd heard the following, I think you'd see her real passion, unlike you assumed, isn't for making a fast buck, unless she's just a convincing actress: https://www.youtube.com/watch?v=jgmBvtbusaw

RV, please continue to spend my money on crypto

@David, this is how it is done: https://www.bloomberg.com/news/features/2015-11-02/china-s-money-exodus

"RV, once again please do not spend our money on crypto." Strongly disagree. There is an absolute ton of content on RV now. If you don't like Crypto, simply don't watch these interviews and presentations. It's your loss...

Everybody wants to get rich no? I think if PayPal or Visa or MC come out with something all this mumbo-jumbo will be over. Wait they already have something. Damn.

No, it's about making enabling people & organizations to make financial transactions without having/needing a bank account, especially out-of-country. That's an increasingly big problem nowadays as over-regulated financials stifled by suffocating Western socialism are rapidly refusing and even CLOSING bank accounts of non-residents. Especially for Americans abroad and American companies, which are usually unwelcome at banks overseas today. Due to terrible US legislative overreach (eg., FATCA) and other over-regulation. No wonder US companies are shrinking in numbers, with more business failures than startups in recent years (the opposite of fast-growth regions like eastern Asia where this impressive bright young lady grew up and plies her craft). Kudos! I see she made the Forbes 30 under 30 list.

@David R. I am with you and all the libertarian ideas. My problem is that we already had a solution (Bitcoin) before all the con artists like Novogratz or the Vinkelvoss chimera bros bastardized it, trying to bring it to the mainstream (by definition impossible due to government opposition). Just think about the ideas they came up with like e.g. Bitcoin ETF - truly idiotic. Governments need to have transparency which physical persons are transacting with each other. This goes against the very nature of Bitcoin.

@Robert. Ok I see your point. Seems valid to me. Except I question the need for gov't transparency, because I like my privacy and not because I'm illegal. Sadly, China is building the ultimate "monitor" and "control" society, and the US and the West seem to be edging in that direction too.

It's revolutionary of you are one the 50+ million people working overseas and sending a few hundred dollars back to support their family each month and not having to pay ~10% of that in fees

Phil, have you trying using PayPal as a business party? Imagine If Maxine has to go as compliant as PayPal and put the required effort to verify their customers. I am bringing PayPal as an example since they already have superior technology to enable seamless payments between parties without the unnecessary crypto mumbo jumbo. If you are selling illegal substances or avoid taxation then of course you need to go with Maxine

Hi Robert K, thanks for your message. Yes, we use PayPal and banks depending on customers profile and our banking capability inside countries. It requires constant attention (cost). Still I would prefer to see fees down at under 2% or so, where PayPal is usually over 3.5% plus heavy exchange costs (and administration both sides). For most small customers this is the best alternative. As far as I know, currently un-achievable best for us would be a simple pay local currency, exchange then receive. I think the costs should be under 2% all up. There are companies providing better than this now for a limited range of countries and currencies, so it’s achievable. While I don’t care about the technology I expect crypto based could work, it could be automated, efficient, traceable and cut out exorbitant fees. We would like to offer to small and large customers. The company that provides this will grow quickly because it will be lower cost than PayPal for small transactions and enable medium/large sized customers to use the same platform, dramatically reducing administrative cost. Let’s face it, it’s going to happen and it’s going to be a volume business with considerable add on business. It could be PayPal, but they seem unwilling to take this on at this time, probably due to current platform weakness. So please help us you crypto entrepreneurs!

I think she hinted they abandoned clearing with BTC because of scalability. To have minimum confirmation of a payment you need 10 mins on average and the transaction costs are prohibitive. So what I feel they did at the end is that they used the crypto hype to catch attention and them implemented some dumbed-down solution for fast clearing.

+1

Carry on with this attitude you'll miss the boat second time.

*other than just making money.*

Hey Steve We do not run sales pitches and if we'd ever do it, we'll definitely announce it first. The only reason we’re bringing you this interview is because we find it interesting that Maxine Ryan is trying to use blockchain technology to build an actual, useful business.

Ok but I seriously doubt this small startup of 20 year olds in Hong Kong paid to be here on RV, lol.

Thanks for the clarification Milton. Glad you are going to be totally transparent.

Please watch Raoul's comments from a few days ago. Peace, man.

Totally agree PF

Jesus, if you guys don't like the content don't watch it. What makes it worse is you're spending even more time bitching on it! Sound like haters to me.

I second this. Patrick Byrne would be amazing

Does the Spark use-case really need a blockchain-based cryptocurrency in the end? It could also run on a secure centralized database of a traditional banking consortium...

People are very impatient with Bitcoin, which as not the "Move fast & break things" approach from Silicon Valley, but rather the traditional, conservative "Get it right the first time" mindset in developing this infrastructure. The growth of bitcoin users is still amazing - despite the bear market - see here: https://www.blockchain.com/charts/my-wallet-n-users?timespan=all But it takes time to build momentum because the average person doesn't understand the technology of "Money" - so how should the person understand Bitcoin?

Dude, https://www.blockchain.com/charts/my-wallet-n-users?timespan=all is meaningless as any drug dealer can tell you new addresses are typically created for every transaction (a good practice btw).

Moritz, I think the whole point of the business model is to avoid anything bank related, as well as financially repressive regimes like the globally hated Swift system which is living on borrowed time as the US gov't has weaponized it. Most recently, even America's "ally" the EU has sworn off SWIFT asap, pursuant to the Europe's big disagreement & dispute with Mr Trump over the Iranian sanctions controversy and US threat to ban EU companies from SWIFT if they don't comply. Good work, Maxie!!! She rightly made the Forbes 30 under 30 list.

"industry" LOL

is everybody high here?

@ 3:45 - 3:45 and 2:08 - 2:09 she is Hong Kong. So that explains it, it's not U.S. Also, she is on the list of Forbes 30 under 30, at age 26 and co-founder of bitSpark. How do I know this? Well, to quote her, "Where does she get all her knowledge and information? Google,” she says with a laugh. https://www.scmp.com/magazines/style/people-events/special-reports/topics/xxiv-2017/article/2120698/how-maxine-ryan

She is obviously super-smart.

She is obviously super-smart.