Listen to this articleBTCS Inc. is the first US public company focused on blockchain technologies, and an early mover in the digital currency ecosystems. With its pending merger with Spondoolies-Tech, BTCS is building a vertically-integrated transaction verification service business to secure the blockchain. Below is our interview with Charles Allen, CEO of BTCS:
Q: BTCS is the first US publicly-listed bitcoin firm, tell us something more about the company and your core competence?
A: BTCS is the first US public company dedicated to not only bitcoin but also to blockchain technologies. Through our pending merger with Spondoolies we are building a vertically-integrated transaction verification services business to secure the blockchain. We touch every transaction which occurs on the blockchain whether its digital currency based, such as an exchange to Coinbase’s platform, or a distributed ledger application. We are rapidly expanding our transaction verification services segment and earned 683 bitcoins during the third quarter of 2015. For the nine months ended September 30, 2015, we earned 1,329 bitcoins, up 2,481% compared to 52 bitcoins earned during the full year 2014
Related: Startup BTC Merchants Helps You Find Bitcoin Merchants In Your City
Q: You’ve recently announced the release of an interactive blockchain analysis toolset, tell us something more?
A: While there are many facets to our tools site the simulator portion is the most interesting. We saw a void in the market for a simplified tool which models the economics of our business and decided to fill it.
Q: How does BTCS differ from other blockchain companies?
A: We are leading the way in many respects, we’re the first public company in the space, we have the largest M&A deal in the industry on the horizon, and numerous strategic investments. Most importantly, we have over 8,000 shareholders who we report to, and we are focused on creating value for them.
Related: SnapCard – The Easiest Way To Start Accepting Digital Currencies
Q: What were the main challenges you faced in developing the company?
A: The list is long; running a startup is a big burden, especially being a bitcoin/blockchain focused company traded on the OTCQB. However, education of consumers, investors, and the media has been our biggest challenge; especially when it comes to explaining how we make money and how big the opportunity is. Launching our Tools Site, and more importantly the Simulator, which illustrates the economics of our core business transaction verification services, was one of our many efforts to help educate the general public (http://tools.btcs.com/simulator).
Related: Prism – Pay All Your Bills For Free – Anytime, Anywhere!
Q: BTCS is an early mover in the blockchain and digital currency ecosystem, what can we expect from you in next six months?
A: Over the last nine months we have put a lot of the key pieces in place to de-risk our business. Our plan over the next six months is to deploy Spondoolies SP50 servers and be minting bitcoins to drive breakout revenue growth. We also plan to up-list to a major exchange such as the NASDAQ once we meet certain requirements.
Last Updated on November 3, 2015
Activate Social Media:
