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Welcome back ladies and gentlemen this Is the bear bull Here and I got this aggressively average Content for you Today as we have Bitcoin P 34800 we're continuing to see the Bull Run of 2023 and a 2024 and I'm going to tell all of you Right now I believe xrp has a very real Chance to BU pass Bitcoin this next Cycle and for an important Reason we remember in 2017 2018 when xrp Briefly bypassed ethereum for number two In the crypto Market and that was Amazing I believe xrp has hypers Supressed value that it could bypass This Market Cycle but a big part of that as well is The fact that Bitcoin might simply only hit Retracement Levels while xrp hits new alltime Highs this is a Possibility and something you cannot Ignore but in addition a big reason why I'm a big believer in xrp is because xrp Supports Bitcoin and the fastest Bitcoin Transaction that has ever occurred has Happened on The X RP Ledger through Spend the Bits a lot of people don't know this but The xrp Ledger it's here to make the Entire crypto industry
Grow it's not meant to be a tribal Token and that's why I brought Jay on From spend the bits to explain further This business model the technology and How all of us can help in the growth of Not just spend the bits But the entire xrp Ecosystem I want you all to take a Listen to this Interview and I want every single one of You to learn from one of my favorite People in the xrp Community as always I appreciate every Single one of You now please listen to J from spend The bits hello hello hello everybody Good morning good evening good afternoon From wherever you're all from from Across the world I have a very special Guest to present to every single one of You today my good friend Jay from spend The bits my brother you're a Revolutionary you're absolutely killing It but some people may not know uh who You are or exactly what it is you do so Before we got started can you break down What it is uh you're doing on The xrp Ledger my FR yeah sure so first of all Thank you for having me on your show my Name is Jon J kambo I'm the founder at CEO at spend the bits I've been working In the IT industry from past decades now Uh we launched this spend the bits in 2019 to having a vision of making
Bitcoin everyday currency for for Everyday users uh basically what we do Is we we we are a L1 ler one uh you know Company ftech company you can say where Which provide interoperable payment on Top of xrp Ledger uh you know yeah we have made Bridges to the to the Bitcoin layer so That user can onboard their Bitcoin in Between they can spend their Bitcoin as A IOU on the xrpl and withdraw the Bitcoin back to the back to the Bitcoin Layer excellent excellent and I I don't I I think this is true but correct me if I'm wrong and I like saying this so I Hope that you agree with me but is it True that the fastest Bitcoin Transactions take place right here on The xrp Ledger through spend the bits is That true yeah yeah yeah so The Ledger Clos every three to five second so Regardless of the currency you know it Always settled in 3 to five seconds so You can spend Bitcoin you can have you Know you can spend usdc you can spend You know Litecoin any coin but we are a Pro in in in Bitcoin payments and then That payment is you know is a blink of The eye with three three to five Seconds you know what's so frustrating For me brother is that the solutions to All the Maxis problems already exist but I feel like they're um very hard-headed And stubborn in the ways they want to
Operate because right here we have a Solution to all the problems and a big Reason why I have you here today is Because in my previous video I had Actually brought up the fact that uh a Top Bitcoin developer has actually uh Discovered a massive security risk to Light lightning Network and we've often Talked about on my channel how uh proof Of work doesn't work lightning has Serious problem problems and you know I Just want to get your take on this um What you're hearing about this security Risk and what what do you think could be Going to happen if this statement made By the developer is true which I'm Seeing on the screen this is this is Massive because you know you can't have You know uh somebody one one developer Have a full control of the full chain That that will just hard the chain and Obviously there's a risk of losing the s At all of them that's a major no no you Know uh from a from a user point of view From a developer point of view from a Business point of view see this is what You know people doesn't understand Especially the mex's this this can't Happen with the xrp xrpl chain because There is no single Authority that can Hal the network or get full control of The network it will never happen you Know we we've been operational in the Production system from three year
Although we are only live in in Canada Because of the regulations but we never Seen this kind of stuff you know Happening happening with our users and That and it will never probably never Happen in the in the in the future as Well because xrpl as it says it's Decentralized protocol none of the none Of the you know um developer has any Control over uh what's been moving Around you know on itself but Jay I Thought that Ripple can control the Network and pause your transactions and Then you know take take your xrp from You what happened to that yeah only on Your FY wild R this this can be possible I don't think this is even even for us You know we hand over the secret Keys uh On the xrpl to the user even we can't Control your your your your transaction In between because you have the keys Obviously you can sign those and then You know you can your transaction will Pass through you know as a IOU as well And then the same goes for for the Withdrawing your funds you know we don't Have any control over when you withdraw The funds so brother a lot of people People have come to me and asked you Know uh they want to kind of build a Project on The xrp Ledger but don't NE Necessarily know how to get started um You've been one of the most credible Projects here on The Ledger as well for
Quite a long time now I was curious to Know is if someone wanted to go about Building a project like how would they Got started what would be some steps What what what does that process look Like yeah I think this is where I think Uh we should give kudos where Kudos is Du due to to bti and xrpl folks Especially the they maintain the xr. org Website all you need to do is just go There click on the start building and Then there you will have you know your Own choice of language you want to build In they have the uh you know JS uh Library they have the python Library so If you know any of this Pro you know Language there is tutorial available for Any developer to start free of cost uh You know start building any kind of uh You know product which they want to Solve a real world problem that's there Just you know they just need to have Some technical knowledge yeah where is The website what is it called it's xr. Org oh xr. org excellent excellent yeah Yeah and we we all have noticed that uh John Deon has has joined the team as Chief legal officer and and has made a Little investment to to get started and And really is diving deep I think what You're doing is extremely important and It seems like you guys are expanding as Well um yeah so yeah we we are very you Know obliged to have John on the team uh
Obviously you know uh he he's having on The team give us incredible you know uh Mindset from the legal point of view and Yeah we are expending we we just got the License I think couple of months back uh To operate in alador where we'll be Rolling out interoperable Payment Solutions for Bitcoin payments on the Xrpl itself um you know the solution is Scheduled to go live in in the first Week of January as we are going through Some some of the you know legal stuff With our lawyer yes so yeah you know It's been a great journey with John uh You know he's having on the team give us You know tremendous uh tremendous you Know uh help and his knowledge is always Valuable on the project you said in El Salvador there's there's pretty big Adoption of Bitcoin there already at This moment in time so now have you seen That there's a high volume of Transactions over there people using Bitcoin and things like that yeah so When I talk to my talk to my liar I Asked him obviously you know hey what's The mindset of the people you know how How you know how often they they use Bitcoin for their payments my La told me He personally use Shu wallet but he Wasn't that much of you know uh in the Awe of that wallet uh and you know he Was basically asking me hey what what You going to charge for for the fees and
Stuff and I told him you know P2P Transaction should be free because we Are trying to empower the people uh so I Think this is where you know we are Going to uh operate in as as a as a as a Business model with all the P P2P Transaction would be free for all the Elone people and on the P2P transaction We are going to mitigate the the credit Card High credit card fee and trying to You know get our business proposal uh Fit in there even even over there we Trying to to give them much more value Proposition by saving some of the money By charging them half of the you know Fees to the merchant where they're they Are paying right now to the credit card The likes of you know stripe and MasterCard and Visa excellent excellent You know what I love about you my friend Is the fact that you you haven't taken This tribal mindset to the crypto space Right when I first got into crypto it Was Bitcoin Bitcoin Bitcoin or nothing Then I stumbled upon the xrp community And then it's xrp xrp or xrp or and you Can't have any Bitcoin and that's it Like these communities have all you know Dug their heels into their coin what Desp whatever Community it is even now It's Chain Link versus Quant now like You like you can't even own both right So I I love that you're looking to build Bridges not walls and this is how
The industry as a whole is going to Succeed right and yeah and just to add Into that you know I'm a tech neutral Guy and I want want to be the people Person not not the other way around you Know where I I can support one chain not The other chain I'm open to the you know Open to the any Superior technology you Know that can that can you know easen up The life of of the likes of you know Average Joe that's the beauty of the Technology that you know previously it Wasn't there in the hand hands of people Like us but now we with the edge of this Blockchain technology we can Empower all The people around us and that what That's what you know making me feel good About it as well so that I can Empower People and I don't care about you know All those Maxi stuff or or a tribalism Per say I'm open to the technology if if There is a problem to be solved from the Bitcoin sector I will solve it just last Month we we integrated usdc uh within Within uh within the STV ecosystem where You know you can you can deposit your Your DC from uh from different chain and Have it withdraw on the different chain As well you know I'm trying to uh you Know do provide you know uh more value Proposition to the user so that once They are on the platform they don't need To feel you know to to go anywhere else That should be One-Stop shop for every
User that we have doesn't matter if it's Bitcoin or his USD DC or even even it is A cad or a or a USD payment what that Means is you know we have the Interoperable payment system uh you know In a already built uh in our you know Test sandbox environment where you know I will spend Bitcoin but the merchant Says no I want to accept usdc or usdc or Maybe a Canadian dollar you know as a Fiat currency that's very much possible Using our app and this is the visit I Want to go live with in in Al as well Where you know users spend Bitcoin but The merchant doesn't have to convert Their Bitcoin because of their you know Volatility issue right away within 3 Second they will be receiving usdc or USD D choice of their currency that's What we trying to bring to empower Merchants to empower users at the same Time dude I'm going to I'm GNA leave you Today with one last question if that's Okay brother what is what have you found To be the biggest Limitation in adoption for spend the Bits the biggest limitation and the you Know is the is the lack of regulations Uh itself you know so strikes even with You yeah you know even even even when we When I launched the app I had didn't you Know I was thinking that I I get to go Live around the world because I made the App to for a global use but immediately
My La told me no no no no just because You build that technology and the Technology is there you just can't go Live you know uh live uh you know in in In global in one shot and that really You know I took a hit on that because I Was you know making sure that you know Everybody has my app and they can use it And then you know it can it can also Test out the xrpl capabilities itself on Its core right uh so that's a you know That's the that's a limitation the Biggest limitation is the regulation Because you know right now they consider As MSB although we provide you know Non-custodial Services you know even the Even even even that will bring us you Know under the hood of MSB that doesn't Make any make any sense to me you know Why those overly heavily regulated System where you know they did not even Define the regulation in the first place But a People Like Us who is building on The blockchain technology in a Non-custodial way still has to follow Those you know Legacy Models I see yeah that's Massive how else could us the average Joe xrp user or xrp Community member Help you on your journey just download The app and tell people about it yeah so You know uh I'm I'm you know really Really grateful to the xrpl community You know that the love that support they
Have showed us is is tremendous uh right Now you can't download the app just like That if you are in us or in in in UK Again uh lack of regulations because if They consider MSB I have to get MSB License to operate but I'm trying to Mitigate all of this you know uh trying To offer white label solution uh from Spend the bit's point of view so that it It doesn't matter if if I wasn't able to Get a you know get into the lengthy Processes of obtaining the licenses I Should be able to you know um give the App to the existing player so that you Know the user can use the app you know To do the Bitcoin transaction and if That happens you know uh you know the Transaction will flow through cross Border just like a like just like this Within three to five seconds because the Blockchain doesn't understand the Jurisdiction right it's only the only The regulation that has been Haled us But block blockchain you know technology Doesn't understand all of the Jurisdiction it just works absolutely Jay uh thank you so much you're an Absolute Pioneer if there's anything I Could ever do to help you don't hesitate To ask my friend I love what you're Doing you're a hustler it's been years Now I know I've been seeing you hard at Work yeah we we have progressed a lot Actually we are just not a Bitcoin
Company anymore we have progressed a lot Uh slow and study will people will find Out about us now we are rolling uh major Changes um in the in the in the coming Year now the slow and steady wins the Race my friend yes thank you so much That's the Mantra slow and stud win the Is oh we we'll talk again soon all right Brother bye bye thank you thank you
