bread – a reimagined cryptocurrency wallet – will begin its ICO from October 5. Bread aims to become a decentralized world bank.
ICO Official Page
We spoke to Adam Trademan, co-founder and CEO of Breadwinner, the enterprise behind Bread.
Could you provide a brief overview of Bread?
Adam: We hope to offer Bread as a financial services platform that will enable anybody in the world to obtain, invest, loan, and otherwise trade in cryptocurrencies.
Our vision is to grow into the world’s first true global financial brand! We plan to create a decentralized banking model that enables the world’s safest, fastest, and most easily accessible financial services.
Although we try not to brag, we currently have 500,000 users from 120 countries around the world. We think this support is derived from the fact that the product we are providing is innovative; people want a service like ours and so are eager to support our vision.
Christine Lagarde, the Managing Director of the International Monetary Fund recently published a paper predicting the end times for traditional banking; the proclamation understandably sent shockwaves throughout the international financial community. She writes,
This is an economy rooted in peer-to-peer transactions, in frequent, small-value payments, often across borders…these payments can be made with credit cards and other forms of e-money. But the charges are relatively high for small-value transactions, especially across borders.
Instead, citizens may one day prefer virtual currencies, since they potentially offer the same cost and convenience as cash—no settlement risks, no clearing delays, no central registration, no intermediary to check accounts and identities.※1
Mr. Adam’s vision for Bread reflects this logical progression.
Could you tell us more about the Bread ICO?
Adam: Our current goal is to create a borderless wallet, so we changed the band name from ‘BreadWallet’ to the simpler, more internationally understandable ‘bread.’ We have also streamlined the app’s UI and appearance. Most importantly, this incarnation has evolved to integrate currencies other than Bitcoin, such as Ethereum and other altcoins.
The tokens for this ICO are BRD tokens, which provides various benefits within the platform: You can purchase BRD tokens at a discount if paying with cryptocurrencies. There are also special offers and features for BRD holders.
In other words, ICO participants can anticipate both returns on token purchases and special privileges within the app itself.
Adam: By 2020, blockchains are expected to play a large role both technically and socially.
We want to become the world’s largest non-centralized, distributed financial platform; we are pacing our development with the projected maturation of blockchain technology by 2020. By then, users will be able to access any Bread financial service from anywhere in the world at anytime. Ultimately, we will offer a variety of financial services far beyond those of traditional banks.
※1 IMF Head Foresees the End of Banking and the Triumph of Cryptocurrency. fee.org
https://fee.org/articles/imf-head-predicts-the-end-of-banking-and-the-triumph-of-cryptocurrency/ [10 Oct 2017]
What are the strengths of bread’s service?
Adam: I would say our greatest strength is our passionate, experienced team. Thanks to them, our project is gaining the attention and respect of engineers around the world.
I have experience in various positions in sales, marketing, organization management, hardware engineering, software and the Internet industry as CEO of a wearable devices company for over 20 years
Co-founder and CTO Aaron Boijin led the technical department at Yammer and Banjo. He is also one of the few engineers who have gained the respect of the original Bitcoin/blockchain developer community. Bread is backed by individuals who understand every corner of the virtual currency world. They have used this knowledge to create a state-of-the-art product with a special consideration for security.
Other team members include lightcoin and co-based co-founder Charlie Lee and FaceBook Messenger inventor/BitGo founder Venda Davenboat. .
This dream team has raised $7,000,000 and provides services to 120 countries worldwide.
What do you see for Bread’s future? What is your business strategy?
Adam: A certain delicacy is required at this stage as there is currently no way to compete with major banks. We are exploring options to develop alongside existing institutions while exploring the possibility of coexistence.
We care about the security of the virtual currency, so we want to become the sort of partner that other companies trust to handle such issues for them. As such, our business strategy is to partner with virtual currency exchanges as well as major banks in every country.
Please follow the link below for more info about the team:
Download Bread here.
Apple iPhone version
Google Android version
We’ll keep you updated on the latest Bread news!
Kanemoto Takeshi (Kanemoto Kaneune)
Founder and CEO of Auke Wave Co., Ltd.
The inventor of mutual help emotional Q & A site OKWAVE.JP
Trustees of the United Nations WFP Japan branch
Secretary of the New Economic League
Director of BCCC (Block Chain Promotion)
Breadwinner board member