We are in a cryptocurrency bull run.
Yes…
This “bull run” is in the rapid development of blockchain applications.
We may see the first bankless Venmo in a few months.
I know what you’re thinking. Prices of cryptocurrencies are WAY too volatile. Imagine using bitcoin to pay for your phone bill right after its price drops by 20 percent. You’ll now have to pay 20 percent more than expected.
How can cryptocurrencies like Bitcoin or Ethereum be used as payments?
We need to focus on dollar-stable payments and usability; something your 95-year-old great-grandmother can use without a detailed understanding of the underlying technology.
What is Mosendo?
Mosendo is a peer-to-peer electronic cash payment application. Payments are sent and received within the app using the cryptocurrency Dai, a cryptocurrency that is always priced at $1 USD. “They can send and receive payments on Mosendo just as they would on Venmo, Alipay, or any other country limited payments solution.”
The reason why we need Dai, a decentralized stablecoin, instead of volatile cryptocurrencies is because we still live in the “real world”. The first cars ran on dirt roads. In this situation, fiat currencies like USD are those slow horses and the traditional banking system are the dirt roads. You get it 😂. A stable cryptocurrency that’s always priced at $1 USD is much easier to understand in 2019 than a hundred dollars worth of bitcoin not being the same as it was yesterday. The truth is —we still rely on fiat currencies.
Never forget!
Like gold, 1 bitcoin is always one 1 bitcoin. Bitcoin only appears volatile TODAY because we see it’s worth in U.S. dollars.
What is Connext?
Connext is the technology behind Mosendo that makes this all possible.
You can start testing out the Connext technology today by using the Dai Card browser application. This allows you to deposit up to $30 in Dai and send funds instantly.
Sign up for the Mosendo waitlist here and be one of the first to use the app!