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Below is our recent interview with Benoit Marzouk, CEO of Cashin:
Q: Could you provide our readers with a brief introduction to Cashin?
A: Cashin is a service allowing anyone to buy bitcoins at local stores. We also created a simplified bitcoin wallet directly linked to your email address.
Q: How exactly does it work?
A: Simply download the Cashin.store App, find the nearest store on the map and buy bitcoins at one of our Agent with an easy-to-use QR code technology. All our stores accept cash, some accept payments by cards.
A user can top up any bitcoin blockchain wallet to ‘send’ bitcoins anywhere in the world.
Our aim is to be global with local Agents everywhere especially in emerging countries where bitcoin ATMs could be too expensive to use.
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Q: Is Cashin.store competing with bitcoin ATMs?
A: We are! and we think competition is good for consumers: on average, we are 30 to 50% cheaper than these machines. We also believe some bitcoin ATMs might not be compliant with the up-coming regulation which could represent an opportunity for us. At the moment we represent around 10% of Teller & bitcoin ATMs in London according to coinATMradar.com
Q: What are the benefits of using the Cashin App to buy bitcoin?
A: In one word simplicity: we are Grandma-friendly.
With Cashin, you can buy bitcoin in 1 click, there’s no needs to go through a complex registration process like most Crypto Exchanges. Also, we are neither a trading App where people only buy leveraged bitcoin performance. Our aim is to democratize the access to bitcoin, we want people to start owning some bitcoin and using it in their day-to-day lifes. Which could happen sooner rather than later, probably when the bitcoin native generation borned after 2009 will become young adult, we could see the start of mass adoption: this is Cashin’s vision.
Q: You mentioned an up-coming regulation, what is your view on this?
A: We believe regulation is good and necessary for consumer protection.
Within our App, after a certain limit has been reached, we are performing KYC (Know Your Customer) like banking Apps.
Q: Do you see blockchain technology as a global game changer and why?
A: I definitely think it is! Let me first add a word about bitcoin:
By decentralizing payments and creating a new dematerialized medium to store value in some kind of impenetrable fortress of validation, bitcoin was a successful experiment so far. Also, it cannot be switched off by any central power which is unique in Human History and very refreshing.
It’s not only fast money transfer of any amount with no middle man, it’s also the ability for the unbanked to store value and realize micro-payments. Bitcoin could become the global neutral currency for all of us.
Keeping the neutrality of this network will be one of the main challenge.
Back to your question about blockchain technology, in many projects where there’s no need for a shared common database, blockchain is not required. The key required properties of blockchain are the following: it’s immutable, transparent with verifiable state based on consensus.
A very powerful benefit we are seeing is that any asset could therefore be digitalized and exchange in a blockchain:
For example, let’s say you own a house and need cash, by tokenizing your house, you could give 5% of your house to someone as a collateral to lend you money. The beauty is that you no longer need a financial institution or even a centralized peer-to-peer lending platform!
Most financial activities exist due to the inefficiency of the economy: from borrowing and lending activities to trading arbitrage activities..
Also, while intermediaries became too powerful and can abuse data access, bitcoin and decentralized applications are empowering individuals again.
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Q: Are you looking at other cryptos or are you bitcoin ‘maximalist’?
A: Of course we are interesting in all digital assets but I strongly believe bitcoin will remain the digital gold for some time and will increase its dominancy in the next months especially with the lightning network and other on-chain technologies.
Q: What is on the roadmap for Cashin moving forward?
A: We are entering a very exciting partnership that will help us to build a global reach and provide a complementary service for stores to accept bitcoins and few other cryptos as a payment. We are also looking for partners in the retail space to create national networks.
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