CoinGeek’s Becky Liggero spoke to Cryptartica’s Ricardo Sancho on growing the Bitcoin Cash (BCH) economy through real markets.
As exciting as it is to watch cryptocurrency prices go up, the value of the digital currency, according to Ricardo Sancho, is its usability in transactions.
“I think that one of the most important things is to get both users and merchants onboard, and I think that at the end of the day, the price is not the most important factor. I think it’s actually getting those merchants who have options for the users to spend and having the users actually wanting to spend that money,” Sancho said. “Making the money move around is what actually creates an economy, and that’s what will actually get Bitcoin Cash off the ground and into a real cryptocurrency that can be used by everybody in the world. I think, by far, the most important metric is to measure merchant adoption and user adoption.”
Cryptartica, the company Sancho helped found, is intended to give BCH users opportunities to spend what they have. “At Cryptartica, we believe that becoming your own merchant is a very important thing. The economy is just getting started, so there’s a lot of places for users to create new businesses. A lot of these businesses already exist in the, let’s call it fiat world, but we need to move over to Bitcoin Cash, and big corporations are actually slower to adopt newer technologies, so the users have an opportunity here to basically take a pie of that market while the Bitcoin Cash economy is growing,” he said.
With the way Cryptartica is set up, one need not invest a lot of capital prior to earning. “One of the things that we’ve done at Cryptartica is actually to create a design marketplace, and that will allow any user to easily, in five minutes, start selling their designs on merchandise and earn Bitcoin Cash. That will allow these users to basically lower the barrier of entry for them and allow them to earn Bitcoin Cash without actually having to invest money upfront,” he said.
Sancho believes in the importance of meetups for getting the word out about BCH, a responsibility he takes seriously. According to the Cryptartica founder, “We started meetups around January, that was our first meetup. And that was a very successful meetup, a lot of people showing interest in wanting to learn about Bitcoin Cash, and we think that is very important. What the BCF, the Bitcoin Cash Fund, has been doing is very important to fostering meetups around the world and basically put Bitcoin Cash out there. People tend to forget that one of the most important things is to actually educate people. They will not learn and they will not find out about Bitcoin Cash or any other cryptocurrency unless we put in that effort. It has to be us enthusiasts, as the first Bitcoin Cash users, to actually do that work, go out there and educate people, let them find out by themselves how great this technology can be.”
If you’re interested in helping the growth of merchant adoption of Bitcoin BCH, join the bComm Association, an industry group that intends to be the focal point for miners, merchants, exchanges, developers and members of the BCH community. Developers and merchants of the Bitcoin BCH community will also be on hand for the first CoinGeek Week happening in London in November. Members of bComm Association can avail CoinGeek Week tickets at discounted prices. To purchase tickets or learn more about CoinGeek Week Conference, visit the official website here.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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