Who never heard about crypto-currencies, Bitcoins, Ethereum, etc…? No, I’m not talking about that for keywords!
However, maybe you know how it works, and that’s good for you because that means you can evolve in this wild environment, or perhaps you don’t and are lost in the jungle which is the world of crypto-currencies!
Forget everything you know about crypto-money and how complicated it can be, because today, just as the title says, it will be about Paypite!
And of course, I will explain to you why we think it’s the next-gen!
We met Vincent Jacques, the creator, and CEO of Paypite.
What is Paypite?
Paypite is a new crypto-currency, oriented for French-speakers.
Vincent realized something: Even if we speak the same language between many countries (France, Canada, Senegal…), the fees to transfer money are massive, and the exchange rates are usually not the best.
Also, in some countries such as Madagascar, having a bank account is quite rare. Therefore, to transfer money to someone there, you have no other choice than going into a change office.
That comes with several problems: The fixed fees (around 12% – much lower than an international bank transfer though), plus the conversion from a currency to another.
If someone wants to transfer money or even do business, it’s expensive.
For Vincent, it’s an aberration: how can we pay so many fees and can’t be able to transfer money easily, while we are speaking the same language?
That’s more-less how the idea of Paypite was born.
Why is it new?
First things first: Paypite is based on Ethereum for a few reasons; one of them is because it’s compelling and reliable.
However, what Paypite offers to people is an eco-system.
At this moment, who is using his crypto-money on a daily basis? Just even paying a coffee.
Simple tasks appear to be complicated with the solutions we have right now.
Paypite is working in a way that will allow you to use your Paypites as any other currency, using a debit card directly connected to your online wallet, also provided by Paypite!
Of course, you can use another “wallet,” but if you are not already used to this, why would you make it more complicated?
It’s the first time I can project using an alternative to any other currencies.
Paypite comes as a real alternative to exchange offices such as Western Union.
It will work the same, as they are building partnerships with local stores to allow people to send Paypites and turn it into cash.
The main difference is the meager exchange rate compared to traditional exchange offices.
Also, if someone wants to send money, he will be able to do it directly online from his dashboard on the Paypite’s platform!
Eco-system and evolution
The eco-system Vincent wants to develop is there to allow people who don’t necessarily know how to use crypto-currencies. Make it as simple and as smooth as a bank account.
From one interface, you can manage everything.
In the future, they are planning to create more advanced features: micro-credit, debit card (very soon)…
Allowing entrepreneur to work with this currency is also a great thing.
“Create a crypto-currency that work like the Dollar, Euro or Pound.”
Once they will release their debit card, you will be able to use it as your regular one: it will be linked to your Paypite account.
When you will pay something online or in a physical store with your card, your Paypites will be converted into the local currency, and the seller receives it like any other one on his account.
In some country, it’s finally unlocking the problem of developing e-commerce!
Also, to be a reliable alternative, they are working to make the Paypites stable in the future, to avoid significant fluctuation as we witnessed late 2017 with the Bitcoin when everything was going crazy!
At Paypite, they are also working to provide e-commerce solution, to allow people to work with Paypites. It can come as a plugin for Shopify or WooCommerce, and so, will enable the store to receive the payment or in the local currency or in Paypites.
That way, the development of the e-commerce in some countries in Africa or Madagascar is much more accessible, because of the low fees, and it gives access to a new kind of bank account with a debit card, in countries where it’s not as usual as in Europe or the US.
Paypite, the 2.0 crypto-currency?
To resume, Paypite is not disrupting the technology, but make it usable! So, for me, it sounds like it’s a real evolution of this field.
Having a high technology that no one can use… That’s what Paypite is solving!
Because of that, Paypite may revolutionize the local market of many countries, just by bringing the possibility to develop e-commerce.
Just imagine the number of jobs that it will create: Web development and design, web marketing, logistic… It can be a real economic boost!
I would like to thank Vincent for having received us, we had a great time discussing this with you, and we hope that Paypite will be used in all French-speaking countries very soon.
BONUS : Vincent’s Interview (In French)
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Get your first Paypite, offered by registering!
Website : Paypite
8 rue Saint Florentin – 75001 Paris