Crypto.com CEO Kris Marszalek on Hitting 1 Million Users & Why It’s Time for Plan ₿

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Kris Marszalek, the CEO of leading cryptocurrency payments platform Crypto.com, has reiterated the company’s values, emphasizing in particular how companies in the space need to do more to achieve mass adoption.

During an interview with CryptoGlobe at the DELTA Summit in Malta, Marszalek revealed he believes cryptocurrencies and blockchain technology have the “potential to give you back the control over your money, data and identity.” These, he said, are basic human rights to control.

When asked how Crypto.com managed to reach so many users in so little time, Marszalek explained that the “key to growing fast is having a beautiful product that makes financial sense for everybody to use and keeping customers happy.”

Per Marszalek, there isn’t a single silver bullet that can be used to gain users. Improving the product, he insists, is the only way to keep customers happy. When asked about the potential for poor user interfaces and experiences slowing down the crypto industry’s growth, he said:

There’s a very small number of well-designed products (…)Technology needs to be invisible. Users, especially if you're talking about mass market adoption, should not be bothered with private keys, writing them down on a piece of paper, hiding it in a safety box.

Marszalek insisted that we have to do better if we “want to achieve this dream of a billion people using crypto.”

Time for Plan ₿

Regarding the company’s ‘Plan ₿’ campaign, in which it clarifies that Crypto.com believes people have a basic right to control their own money, data, and identity, Marszalek noted the technology in the cryptocurrency space has a lot of potential that has been largely unfulfilled.

He explained that the campaign is designed to let people know there’s a different, new way to control their money. This new way exists outside of the traditional financial system and control that banks and financial institutions have over people’s funds.

The crypto community has largely reacted very positively to the campaign, which allows individuals to pitch their own slogans to end up on a billboard ad. Marszalek revealed that in only 24 hours, Crypto.com received over 400 submissions for slogans.

As for how Crypto.com has been dealing with regulators, he said they’re actually "open” if a company does show it’s looking to abide by the rules and show they are “sincere, serious, and want to do it the right way.”

In the first quarter of next year, Marszalek said users can expect an updated version of Crypto.com, that’s set to give the community a glimpse of what’s next.

Ripple CEO: 'You Don’t Want to Use BTC at Starbucks'

On Thursday (January 23), Brad Garlinghouse, the CEO of Ripple, told the Wallet Street Journal (WSJ) that Bitcoin is not a good means of payment because BTC transactions take too long.

The Ripple CEO's comments were made during his talk with Phillipa Leighton-Jones (Editorial Director for Innovation) at a Ripple-sponsored event (organized by the WSJ) called "Ripple Panel: Changing the Finance Industry From Within" held alongside this year's World Economic Forum Meeting in Davos, Switzerland.

Although we don't yet have a full transcript of this interview, we do know about two of the things he talked about thanks to tweets by Asheesh Birla, SVP of Product at Ripple, who was at this event.

First, it seems that although the Ripple CEO likes Bitcoin as a store of value, he does not see (at least, as of now) as a viable means of payment. The example he gave was paying for a cup of coffee at Starbucks. He believes that BTC transactions take so long to confirm that by the time you have finished paying for your coffee, "it'll be cold." 

Second, within the next 12 months, he sees several companies in the crypto space holding initial public offerings (IPOs) and he wants Ripple to be "on the leading side" since this is "a natural evolution" for Ripple, which raised $200 million via a Series C funding round (which valued the company at $10 billion) last month. 

On Wednesday (January 22), Ripple published the "Q4 2019 XRP Markets Report", which is a quarterly report that allows Ripple to "voluntarily provide transparency and regular updates on the company’s views on the state of the XRP market, including quarterly programmatic and institutional sales updates, relevant XRP-related announcements such as Xpring and RippleNet partnerships and commentary on previous quarter market developments." 

In Q4 2019, Ripple's total XRP sales were down just over 80% compared to the preceding quarter ($13.08 million vs. $66.24 million). Ripple "continued the pause of programmatic sales" (to crypto exchanges), and focused exclusively on over-the-counter (OTC) sales to "a few strategic partners, who are building XRP utility and liquidity in strategic regions including EMEA and Asia."

Featured Image Credit: Photo via Pixabay.com