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  • you said that you are quote unlocking the value where you have it.

  • And I want to just give it a little reference before you can explain what you're doing.

  • I created something we call the defi academy and I've got hundreds of students that are going through the education process of learning about defi.

  • And um you know, two of the things they complain about quite frankly, Tyler is getting fiat into crypto and then using their crypto, you know, and they're both very difficult things.

  • And I think you're potentially solving that secondary one, is that right now?

  • There are almost two different worlds, like there's an on ramp and off ramp and when you're on the highway of crypto, you're involved, you're invested.

  • You can maybe go to the texas, but when you're off you're not.

  • And right now when it comes to payment, there's so many people that are talking about crypto that invest in crypto.

  • But I would say very few of those people use crypto to go buy things at Starbucks at restaurants, et cetera.

  • And I think that's where you guys come in so maybe you can tell me and tell everybody here, what is the thesis behind flex.

  • So what have you guys been doing?

  • Sure.

  • Um so yeah, I kind of your, your first point there around descriptive usage and the prevalence that we're not seeing, which is fantastic.

  • Uh that's great for these peer to peer networks um as decentralized money or value and those sorts of things, which is excellent.

  • But now to bring it more into like this real world or using it for like merchants, right?

  • They don't, there's so many different types of chains, assets, the complexity around what these things are even classifying them right there.

  • They're kind of securities, the kind of currencies, but they're not, they're sort of this like new instrument that's been created and then it's all digital format.

  • So a merchant though really would love to get paid with anything as long as it can be cheaper or faster or have less fraud.

  • Is there a benefit to them?

  • But there's just no way being a large merchant, you can integrate any of this sort of stuff at any realistic scale.

  • Um, so flexible now has looked at this and said, oh we can use some of the power of these new centralized networks and actually drive the cost of like validating payments and the risk associated with payments down to almost zero.

  • And we could build a network that uses some of this new technology.

  • And then what we do is really just integrate with the merchants across their entire stacks and software, the hardware, everything they already have just to make accepting all these new types of assets.

  • Just extremely simple.

  • So no new upgrades, no new hardware, no even new flows, right?

  • Everything being exactly the same.

  • And so flex is really about integrating very deeply with everything a merchant will have in store online and now allowing universal acceptance of assets from really any wallet to which is the other really important piece.

  • So it's As this has evolved from day one, any asset.

  • So it could be Cryptocurrency assets, loyalty point assets, your bank balance, anything where you already have your app and you have value on it.

  • You could now essentially paid to flex like that's really what the vision has been and then now incorporating that Into a new structure that allows us to be less than a 10th of the price or less than a 10th of the cost to a merchant.

  • And then without all the fraud becomes really compelling to them to embrace something like this.

  • Yeah, that's what I, you really caught my eye when I first started watching some videos on you because look, it's one thing if you are able to allow me to take my crypto and make payments with it.

  • Like that would already be uh something we don't see right now.

  • And I'd love to walk through the current state of the union when it comes to crypto payments.

  • But if I could take my phone and use what you're doing to tap into my bank and do a bank transfer, which I can't do right now to buy a cup of coffee at Starbucks.

  • If I could tap into my loyalty points, if I could tap into a number of assets, I don't know my tokenized real estate or my, my cattle or whatever.

  • I don't know, maybe this, maybe this guy is the limit and again, is there becomes exchanges for some of these tokens, whether it's loyalty points or something, you know, that gets really kind of mind bending or potentially I've got all these assets on my phone or in my own little metaverse that I can exchange with someone else as long as there's a payment system that I guess can recognize them collateralize them and then make sure they're secure.

  • Is that the kind of vision you have?

  • That's exactly the vision.

  • Um, and so it's really focused on commerce though.

  • So I will say we won't really, you know, well we can help facilitate some period appear and others, but for us it's really about how do we just make this work for commerce?

  • And then the real the real key is how does it become just so dead simple Either exactly as it is now or much easier.

  • So on the merchant side they get paid exactly like they would they get fiat currencies in their bank account.

  • That looks all exactly the same for reconciliation, how they get how they get money, how they treat money, what it all looks like in their back of house identical.

  • And then to the consumer, how do you make it that all these other assets just tap a button and stand something.

  • It's literally that simple.

  • If you add anything else into this flow, it'll just never work.

  • And so people really like to approach some of this is my new technology or my new token or my new consensus or this this this right?

  • It's never going to reach mainstream adoption because you have to make it so simple to where the reality is.

  • So some sometimes people will say to me, how are you gonna are you gonna on board and explain all this to to new users?

  • Are these new wallets or how do you grow?

  • It's like, well we're not we're actually not going to do it.

  • Uh This is going to power the things they're doing and they won't even know and frankly they won't care just like when you take your phone it has Apple Pay and you hold it up to R.

  • F.

  • I.

  • D.

  • Stuff happens behind the scenes.

  • And as a user you could really care less honestly.

  • As a merchant, you could care less.

  • You just want to get paid, it's all about making that transaction happen.

  • And currently the majority of those transactions are routed through many complexities that cost a lot of money and expose lots of vulnerability that are 50 years old.

  • And just, you know, they've been great monopolies and so they haven't been able to they don't need to innovate.

  • These are extremely profitable companies doing this.

  • And so there's there's a lot left there.

you said that you are quote unlocking the value where you have it.

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B1 merchant crypto tap flex loyalty fraud

THE FASTEST, MOST FRAUD-PROOF PAYMENTS NETWORK IN THE WORLD - Tyler Spalding on Flexa

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    林宜悉 posted on 2021/11/23
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