Using Crypto to Build a Real-World Service

Published on
19 November, 2018
Financial System, Crypto-currencies, Technology
21 minutes

Using Crypto to Build a Real-World Service

Featuring Maxine Ryan

Do crypto technologies have a purpose beyond investment? For Maxine Ryan, co-founder and COO of Spark, the answer is clear; she is using crypto to build a cross-border payments service. Ryan discusses her technology and her company, reflects on how they fit into the broader crypto space, and discusses why the recent drop in coin prices might actually be a good thing. Filmed on November 1, 2018 at World Crypto Con in Las Vegas.

Published on
19 November, 2018
Financial System, Crypto-currencies, Technology
21 minutes


  • SS

    Sean S.

    24 11 2018 01:21

    1       1

    They wanna create 180 'stablecoins' which is supposed to be some sort of a mirror image of a national currency. The best example of this is Tether, which supposedly has physical USD sitting somewhere in a vault to back the Tether in circulation. Tether has been growing over the years and has now reached #8 in ranking at CoinMarketCap boasting a MC of 1.8B. I would bet this is a total fraud waiting to blow up since i don't believe there is even a fraction of $1.8B sitting in a vault. Subsequent 'stablecoins' like 'Gemini coin' are also boasting some sort of a peg to the US Dollar.

    My question is if for decades now we have seen countless attempts and failures by countries to peg themselves to another currency, what makes these crypto entities think they can pull it off?

  • TE

    Tim E.

    23 11 2018 07:28

    0       0

    "At no time are funds held in crypto." What am I missing? How can you transfer in BTC then? Does she mean they have a partner to whom they lay off all the crypto volatility risk?

  • ph

    phil h.

    22 11 2018 05:50

    4       0

    I partly own a small business in Australia trading across the pacific islands. Sometimes payments are as little as US $100 a time. Banks kill us and our customers with sometimes 15% or more in charges. Setting up accounts in each country to reduce costs is a big thankless job. Others transaction reduction methods are also complex. Basically these economies are being squeezed and strangled by large financial institutions. So, when I see this excellent video that could one day solve these issues, l am extremely interested. I considered bitcoin a few years ago but it’s far too complex. Well done. A real economic benefit. I am researching further.

  • DC

    Darren C.

    22 11 2018 03:29

    3       0

    I generally avoid crypto articles/videos as all I know is that like railroad and car companies of the past the great majority will fail. It was useful to have someone on to explain how they have solved a real problem for those with no bank accounts. I vote yes to more interviews with problem solvers.

  • PG

    Philippe G.

    22 11 2018 00:47

    0       0

    Great to hear about a real world application in this space!

  • SD

    Sebastien D.

    20 11 2018 15:19

    4       0

    Looking at the comments I was a bit wortied about what I'll find, but this is pretty good. Something that is not US centric and serves a real purpose other than just making. Understanding their business reactions to Bitcoin stress test last year and the technologies they are using was good. The creation of 'trustless' stablecoin contracts for fiat without using that currency at all but backing it with BTC is quite interesting concept. A lot of insights in that one in fact.

  • SR

    Steve R.

    20 11 2018 09:04

    2       2

    World Crypto "Con" - yep, you're right on that one!

  • PN

    Paul N.

    20 11 2018 04:28

    2       0

    As far as trusted stablecoins go, I don't see how the regulations forcing banks to de-risk don't eventually apply to companies issuing them. All it will take is some high profile cases of money laundering with tether or something for regulators to hunt down these accounts. As far as trustless (algorithmic) stablecoins go, Preston Byrne wrote a 3 part series on why they are doomed to fail. Worth a read for a contrarian view to Maxine's:

  • AC

    Andrew C.

    20 11 2018 02:07

    9       0

    I needed to transfer Rm200 to Kuala Lumpur (US$50); Banks were trying to charge $47 to make the Swift transaction making it insane for me to do it. The recipient just gave up and ate the cost himself. With all the remittances from everywhere (Middle East in particular) back to Asia, there is a huge need. You Americans need to understand the rest of the world. Good luck, Maxine. See the problem, offer a solution!

  • dd

    david d.

    20 11 2018 01:04

    2       4

    Cryptos are dead. When will the movie be made?

  • GF

    Gordon F.

    19 11 2018 23:03

    26       0

    A great presentation, but again, please voice-over the questions, rather than just flashing them up on the screen. I much prefer to just listen to "The Expert View", but not knowing what question was just asked makes it harder to follow.

  • CB

    C B.

    19 11 2018 20:08

    3       0

    Good Job Maxine. You're 10 years ahead of your time

  • RE

    Richard E.

    19 11 2018 19:42

    2       3

    So 180 different stable coins that I can then transfer between. Sounds a lot to me like the existing FX market? So then this is just that Blockchain is better than Swift or that Spark is cheaper than Western Union? Doesn't sound that revolutionary to me

  • SS

    Steve S.

    19 11 2018 19:15

    4       6

    Great sales pitch. Correct me if I'm wrong but is it time RV posted a disclaimer such as 'Sponsored by Spark' if this was indeed paid for, just so the viewers know.

  • RK

    Robert K.

    19 11 2018 18:59

    4       12

    BS. From crypto to klepto.

    Let's be honest.
    * The only reason you create your stable coins is to create "money" out of nothing and take you cut.
    * The only reason you have to use "crypto" is for marketing purposes. You are admitting this yourself and later you hint on centralization and private venues - things that go against the very promise of the technology.
    * You seem to have some success and the major factor is probably people in China trying to get their money out of the country.

    RV, once again please do not spend our money on crypto.

  • DH

    Dan H.

    19 11 2018 18:40

    1       0

    Bring on the hashgraph team

  • MW

    Moritz W.

    19 11 2018 18:21

    0       0

    Please bring on Radko Albrecht, CEO of Bitbond in Berlin - doing some amazing stuff :)

  • MW

    Moritz W.

    19 11 2018 18:18

    3       0

    Well done Realvision! Interesting interview...however I would not be surprised if Spark moves back to Bitcoin on Lightning & Liquid network in a few years.

  • rs

    ross s.

    19 11 2018 18:15

    4       0

    Why not have someone from OSTK/Medici Ventures on. They are doing amazing things...

  • RS

    Rajesh S.

    19 11 2018 18:12

    2       0

    Liked her view point a lot i.e. use the best part crypto to provide a value added service.

  • DR

    David R.

    19 11 2018 15:31

    2       1

    My question is, why do this in USA which increasingly suppresses entrepreneurship, is a tax hellhole/nightmare, has a dim economic future, and is almost totally irrelevant in the crypto space compared to the real crypto hotspots of the world. Such a waste of talent. Emigrate!!

  • TJ

    Terry J.

    19 11 2018 14:36

    8       0

    Wonderful to see entrepreneurs like Spark come up with alternative payment systems using cryptos. Capitalism is alive and well when allowed to flourish without regulatory and or monopoly controlling shackles.

  • PF

    P F.

    19 11 2018 14:29

    0       12

    This content is not good enough to be on RV.

  • CM

    Carlos M.

    19 11 2018 13:16

    6       0

    great idea ! def a win for crypto industry.

  • LP

    Lionel P.

    19 11 2018 13:08

    0       5

    got stressed after 3mn, she speaks too fast unfortunately