Latest / The Paul Barron Crypto Show / XRP Point-of-Sale Incoming🚀INTERVIEW

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XRP Point-of-Sale Incoming🚀INTERVIEW · The Paul Barron Crypto Show

• 0:06
  Speaker 1: Let's get into a little bit of topics around XRP
• 0:08
  Speaker 1: and point a sale systems. It's an interesting topic. I
• 0:12
  Speaker 1: think you guys will like it. It'll give you some
• 0:14
  Speaker 1: light on where the market is going. My name is
• 0:16
  Speaker 1: Paul Baron. Welcome back in a tech path. I want
• 0:18
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• 0:54
  Speaker 1: As you guys know, we covered this topic last week
• 0:57
  Speaker 1: and the topic was really getting into the trillion dollar
• 1:00
  Speaker 1: problem with point of sale and retail in general and
• 1:05
  Speaker 1: XRP was one of the topics that we were really
• 1:08
  Speaker 1: talking about because of an advancement that was made by
• 1:12
  Speaker 1: a young developer that really created kind of maybe a
• 1:15
  Speaker 1: next generation point of sale system that could be crypto driven.
• 1:19
  Speaker 1: I want to play a clip for you to show
• 1:21
  Speaker 1: you what he created, to give you kind of an
• 1:23
  Speaker 1: update of where we are. Take a look.
• 1:26
  Speaker 2: It's an XP Wallett's the same as Apple Wallett Google Wallet,
• 1:29
  Speaker 2: but instead of Visa MasterCards, we are straight on the
• 1:32
  Speaker 2: XPO network. So let's do two cents for this one
• 1:36
  Speaker 2: continues payment waiting payment.
• 1:38
  Speaker 3: We just tapped straight away process in transaction.
• 1:41
  Speaker 4: It's gone to the test net and as soon as
• 1:45
  Speaker 4: it goes on chain, we'll get a little success message
• 1:48
  Speaker 4: done and tap here you can see it verified on chain.
• 1:53
  Speaker 4: Two cents.
• 1:54
  Speaker 3: Wow, that's crazy, Boom.
• 1:57
  Speaker 1: To be honest with you, Tom, I've been watching POS
• 2:00
  Speaker 1: for a very long time in my career. I actually
• 2:03
  Speaker 1: started in the POS game with Microsoft, so it was
• 2:06
  Speaker 1: kind of aching back to my early development years and
• 2:09
  Speaker 1: seeing that. So congrats on everything you did there and
• 2:12
  Speaker 1: congrats on winning the hackathon as well.
• 2:14
  Speaker 3: So very cool, very much, thanks for having me. I
• 2:18
  Speaker 3: think one of the key use cases for crypto and
• 2:20
  Speaker 3: why a lot of people got into it is the decentralization.
• 2:23
  Speaker 3: We not needing a bank all that kind of thing.
• 2:26
  Speaker 3: So if like payments have always quite excited me, Yeah.
• 2:29
  Speaker 1: You just solve the problem, says hey, I think I
• 2:31
  Speaker 1: can build something that might work.
• 2:33
  Speaker 4: I think.
• 2:33
  Speaker 3: I mean if the biggest red flag for me was
• 2:36
  Speaker 3: how much merchants pay, right like as a customer, we
• 2:38
  Speaker 3: never see like with three to five percent fees. As
• 2:41
  Speaker 3: when I first saw that, I was like, oh my god,
• 2:44
  Speaker 3: how is this a thing? And obviously seeing like XRP
• 2:47
  Speaker 3: Solana where gas fees are so cheap, Yeah, I feel
• 2:51
  Speaker 3: like it's just so obvious thinking why it hasn't done
• 2:55
  Speaker 3: this before.
• 2:55
  Speaker 1: Well, I think a lot of people have tried to
• 2:57
  Speaker 1: do it before, and it's been one of those things
• 3:00
  Speaker 1: things that really kind of First of all, it's a
• 3:02
  Speaker 1: daunting task because I think you're dealing with two of
• 3:04
  Speaker 1: the biggest categories out there, especially in retail sales. Merchant
• 3:08
  Speaker 1: sales dominate trillions of dollars a year, and when you
• 3:12
  Speaker 1: look at that percentage, then you layer in the technology,
• 3:15
  Speaker 1: which is mostly hardware driven in the pos side. What
• 3:19
  Speaker 1: you've been able to do. Is pretty amazing because you're
• 3:22
  Speaker 1: kind of leap frogging not only the payment system but
• 3:25
  Speaker 1: maybe even the POS terminals. At some point down the road,
• 3:31
  Speaker 1: when would we see the potential for a beta launch
• 3:34
  Speaker 1: of what you're what you're building.
• 3:36
  Speaker 3: I think we really want to aim for xrpo apex,
• 3:40
  Speaker 3: which is in June. I think that'd be a pretty
• 3:42
  Speaker 3: awesome event. So like maybe you can buy a coffee there,
• 3:45
  Speaker 3: you can buy some merch using okay r O USD,
• 3:48
  Speaker 3: so that's.
• 3:48
  Speaker 1: Just around the corner. What about the merchant facing app.
• 3:52
  Speaker 3: Itself, that'll be the same time, I think, at the
• 3:55
  Speaker 3: same time, So for them, yeah, I think I mean,
• 3:58
  Speaker 3: like you said, right, there's the Xlprmy has been crazy
• 4:02
  Speaker 3: already all my previous projects and XRPF had crazy support.
• 4:06
  Speaker 3: This one's already had probably a couple of hundred in
• 4:10
  Speaker 3: the wait list already. But I think just reaching out
• 4:13
  Speaker 3: to those crypto native and early adopters, as merchants have
• 4:18
  Speaker 3: already reached out and said they'd like to be part
• 4:21
  Speaker 3: of this and like to try this. Aiming for the
• 4:23
  Speaker 3: early adopters definitely.
• 4:24
  Speaker 1: You know, if you come out with some really killer
• 4:26
  Speaker 1: features here, that's going to probably give you maybe a
• 4:30
  Speaker 1: vehicle for being able to market it. Is there anything
• 4:33
  Speaker 1: within the app itself that you can talk about that
• 4:36
  Speaker 1: is going to be available in terms of a feature.
• 4:39
  Speaker 3: Eventually, What we want to do is have it side
• 4:41
  Speaker 3: by side with a payment app, so people can still
• 4:44
  Speaker 3: pay with Visa, but then also their crypto users can tap,
• 4:48
  Speaker 3: they can earn credits and now can say payment term
• 4:52
  Speaker 3: same ap long ago.
• 4:55
  Speaker 1: Yeah, so they're going to be earning credits a revenue
• 4:57
  Speaker 1: model right now. Our merchants forced to swap using zene
• 5:00
  Speaker 1: right now? Is that kind of the plan? And would
• 5:02
  Speaker 1: would this be flexible in the future to be able
• 5:04
  Speaker 1: to maybe them to be able to use something else
• 5:07
  Speaker 1: so they go to x big market or you know,
• 5:09
  Speaker 1: some other platform or marketplace.
• 5:11
  Speaker 3: Yes, exactly, yes, yeah.
• 5:12
  Speaker 1: So it will be it will be able.
• 5:14
  Speaker 3: To only well it will be zenough. But then the
• 5:17
  Speaker 3: merchant we want to spread to as many merchant payment
• 5:19
  Speaker 3: apps as possible, so on the payment terminal side.
• 5:23
  Speaker 1: So why choose XRP because I mean, I know that
• 5:26
  Speaker 1: I will show here in a second you've built on
• 5:28
  Speaker 1: Solana before. Why go the XRP route.
• 5:31
  Speaker 3: I think XRP routes. I think regulation wise is probably
• 5:36
  Speaker 3: the biggest one. And let's focus on payments, cross boarder payments.
• 5:40
  Speaker 3: If there was to be one that would be backed
• 5:42
  Speaker 3: by the US government for example, right, the coin would
• 5:44
  Speaker 3: probably be on XP. Obviously, it could make sense to
• 5:47
  Speaker 3: be mure to chain in the future, but I think
• 5:49
  Speaker 3: XRP is probably the best place to start.
• 5:52
  Speaker 1: What about tps. I mean, you've had a chance to
• 5:54
  Speaker 1: as a developer, You've tested the speed of the network.
• 5:58
  Speaker 1: Do you think it can handle this kind of flow
• 6:01
  Speaker 1: and also demand because you're also probably seeing what's happening
• 6:05
  Speaker 1: at these retail merchants as well. What are your thoughts?
• 6:08
  Speaker 3: Definitely for now and I think x RP their TPS
• 6:12
  Speaker 3: over time will increase. I reckon it can It can
• 6:15
  Speaker 3: definitely compete with Native Visa's numbers.
• 6:17
  Speaker 1: What about the gas fees the fractions.
• 6:20
  Speaker 3: Of a penny?
• 6:21
  Speaker 4: Right?
• 6:22
  Speaker 3: Yeah, yeah, yeah?
• 6:23
  Speaker 1: What is the revenue model for you and for I
• 6:26
  Speaker 1: just for you know, the development of this concept as
• 6:29
  Speaker 1: it starts to make it way its way into payment
• 6:31
  Speaker 1: for crypto crypto.
• 6:33
  Speaker 3: I think the revenue model is probably going to be
• 6:35
  Speaker 3: similar to like phantom wullets, right, So, okay, they were
• 6:38
  Speaker 3: just valued at three billion, right, so that's huge market cap.
• 6:41
  Speaker 3: It's nice, but they don't take but they don't take
• 6:44
  Speaker 3: a single transaction fee. The way they make money right
• 6:46
  Speaker 3: is through swaps, so swapping r U, S D T,
• 6:49
  Speaker 3: I don't know, r O, GBP, on ramping and off ramping.
• 6:53
  Speaker 3: That's where they take a small cut. So I think
• 6:55
  Speaker 3: if we go that route, then we're not getting interfering
• 6:58
  Speaker 3: with transactions. We courage users to use it as much
• 7:01
  Speaker 3: as possible and they can extract and to use whatever
• 7:05
  Speaker 3: of a well let's they want. But it's a way
• 7:06
  Speaker 3: where we're able to get a fair cut.
• 7:09
  Speaker 1: Building on the different blockchains, I was looking at your
• 7:11
  Speaker 1: powercards website in essence of loyalty platform. Do you like
• 7:15
  Speaker 1: what was your favorite to build on? Was it Solana,
• 7:17
  Speaker 1: was it XRP or do you just kind of like
• 7:19
  Speaker 1: blockchain in general.
• 7:20
  Speaker 3: I like blockchain in general and different chains of different perks. Right,
• 7:25
  Speaker 3: Solana's great for its develop a community. I think events wise,
• 7:29
  Speaker 3: Solana to great financial wise. I think XP and they've
• 7:34
  Speaker 3: got a killer they've got a killer community online. I
• 7:38
  Speaker 3: feel like XRPS online presence is very powerful as well.
• 7:41
  Speaker 1: Do you who do you think wins the pos side.
• 7:44
  Speaker 1: You know when you look at transaction, so you're feeling
• 7:46
  Speaker 1: that that XRP, just because their financial presence, that they
• 7:50
  Speaker 1: could be the natural chain for a merchant service type
• 7:53
  Speaker 1: platform versus Solana.
• 7:55
  Speaker 3: I definitely see the future as multichain, but for now
• 7:59
  Speaker 3: I feel like we've yes.
• 8:01
  Speaker 1: Do you think they'll utilize r l USD. Is this
• 8:05
  Speaker 1: something that you think is going to get adopted because
• 8:07
  Speaker 1: this is still a stable coin that's very early, you
• 8:09
  Speaker 1: know right now, what is your thought?
• 8:11
  Speaker 3: I think r USC is definitely going to be probably
• 8:14
  Speaker 3: at the forefront of these stable coins. I think stable
• 8:17
  Speaker 3: coin adoption as a whole will definitely increase, and we'll
• 8:21
  Speaker 3: see more and more data money flow on chain rather
• 8:25
  Speaker 3: than off chain. You won't need to constantly be on
• 8:27
  Speaker 3: ramping and off ramping. The natural way to pay will
• 8:30
  Speaker 3: always be on chain. Yeah, I think definitely a killer product.
• 8:34
  Speaker 3: Right here is Zena.
• 8:35
  Speaker 1: I'm looking at your sample. I want to show this
• 8:37
  Speaker 1: actually this is decentralized loyalty, and I'm going to go
• 8:40
  Speaker 1: to my full screen so people can see this. Watch
• 8:42
  Speaker 1: how quickly the transaction takes place, and then how fast
• 8:49
  Speaker 1: that is for a loyal to romance and then notification
• 8:52
  Speaker 1: right there inside the wallet back to an NFT and
• 8:56
  Speaker 1: then it flips right into the wallet there as a token,
• 8:58
  Speaker 1: So you've got the tie in right there. You using
• 9:01
  Speaker 1: an example of like a retailer like Walmart. So you
• 9:04
  Speaker 1: feel like that because I still think loyalty is the
• 9:07
  Speaker 1: killer app for crypto in the future. I'm still questioning
• 9:12
  Speaker 1: whether or not payment will get adopted, but loyalty is
• 9:15
  Speaker 1: like a wide open marketplace right now. Is that the
• 9:18
  Speaker 1: way you see it as well?
• 9:19
  Speaker 3: Oh yeah, loyalty definitely is. That's probably the easiest intro.
• 9:23
  Speaker 3: Right could have been used with a Walmart app, like
• 9:26
  Speaker 3: no user needs to see and they could be spending
• 9:28
  Speaker 3: it freely. And that was literally using a Visa card
• 9:32
  Speaker 3: and low ty in the same single tap.
• 9:36
  Speaker 1: Because right now Visa is on all the credit cards
• 9:39
  Speaker 1: out there, all the debit cards. Is there a way
• 9:41
  Speaker 1: to where that gets circumvented. This was a partnership you
• 9:44
  Speaker 1: did with Raposa. Do you think at some point we
• 9:46
  Speaker 1: might see a crypto card without the need for a
• 9:50
  Speaker 1: Visa merchant service?
• 9:51
  Speaker 3: I hope. So that's what we're building at Zeno. And
• 9:54
  Speaker 3: obviously we've seen a lot of credit cards, debit cards
• 9:58
  Speaker 3: that are built on cryptos. So I use a cast
• 10:01
  Speaker 3: CUD for example, right where I tap I spend USDC
• 10:04
  Speaker 3: on Solana. Yeah, and it's the one right here.
• 10:07
  Speaker 1: Yeah, you were doing the grocery thing. Yeah, I see it.
• 10:10
  Speaker 3: Yes, but that still uses Visa networks, so merchant still
• 10:13
  Speaker 3: pays of three percent and then they're paying on top
• 10:16
  Speaker 3: probably off ramping fees right right, So in my eyes,
• 10:20
  Speaker 3: there's a lot of fees there. I hope that eventually
• 10:23
  Speaker 3: the way is we completely cook that free to four percent.
• 10:26
  Speaker 1: I like that. I mean, you know, the first time
• 10:28
  Speaker 1: I saw it, I was like, if this can potentially
• 10:31
  Speaker 1: get because there's two things that have to happen. Obviously,
• 10:34
  Speaker 1: you need some you need a little bit of industry pickup,
• 10:38
  Speaker 1: so a handful of big retailers that might carry this
• 10:42
  Speaker 1: alongside their traditional merchant services. But once you have that
• 10:45
  Speaker 1: along with consumer pickup, where there's a reason for that
• 10:49
  Speaker 1: if you talked to any merchants as to how they
• 10:52
  Speaker 1: might figure out how to benefit a user other than
• 10:55
  Speaker 1: loyalty or something of that nature, so that a user
• 10:58
  Speaker 1: would say I'm going to select this way to pay
• 11:00
  Speaker 1: versus visa.
• 11:02
  Speaker 3: I think it definitely has to be cash back to
• 11:04
  Speaker 3: be honest. Okay, if a merchant is saving, say one
• 11:08
  Speaker 3: to two percent, right, why not give half a percent
• 11:11
  Speaker 3: back to the user and they can use kind of
• 11:13
  Speaker 3: credit and extra cash back to the user, you.
• 11:16
  Speaker 1: Know, bank on ramp off ramp. You know you keep
• 11:18
  Speaker 1: referencing Zeno or why hasn't Rippled created one of these already?
• 11:23
  Speaker 1: Why do you think we haven't seen this? And do
• 11:25
  Speaker 1: you think it's coming?
• 11:26
  Speaker 3: Why Ripple we haven't done it? It's probably regulation wise,
• 11:29
  Speaker 3: it seems you need to focus on the KEYC side,
• 11:33
  Speaker 3: the anti AMO side. There's a lot that can go wrong,
• 11:37
  Speaker 3: and I think Ripple are probably We're probably going through
• 11:40
  Speaker 3: a lot during the lawsuit. But I'm sure once they
• 11:43
  Speaker 3: get the regulation clarity, I'm sure that's something they do
• 11:47
  Speaker 3: in their future.
• 11:48
  Speaker 1: If someone pays you in a credit card, there's a
• 11:51
  Speaker 1: settlement period that occurs, of which most of the time
• 11:55
  Speaker 1: the merchant service company takes yields on the open market,
• 12:00
  Speaker 1: you know, because they're out there basically playing with that cash.
• 12:03
  Speaker 1: In this kind of scenario, settlements almost sinstantaneous. So my
• 12:07
  Speaker 1: question would be, could a merchant come in and now
• 12:11
  Speaker 1: that I've got those fees in my wallet setting. There
• 12:13
  Speaker 1: would I be able to maybe earn yields against that
• 12:17
  Speaker 1: utilizing what you're planning to do here.
• 12:19
  Speaker 3: So it could emugineus what you're holding, Yeah, what they're
• 12:26
  Speaker 3: they could automatically stake any income. There's some platforms that
• 12:30
  Speaker 3: are like ten percent right, ten percent staking or even
• 12:33
  Speaker 3: higher exactly, so we could definitely do some automatic staking there.
• 12:37
  Speaker 1: Interesting. I think Tom, we're going to see some pretty
• 12:41
  Speaker 1: interesting things for you coming up because the this is
• 12:44
  Speaker 1: a big problem in the industry. I think you've been
• 12:46
  Speaker 1: able to kind of show that there is a solution
• 12:48
  Speaker 1: potentially here if we start to see some uptake within it.
• 12:52
  Speaker 1: And I love to see young developers kind of go
• 12:55
  Speaker 1: to this direction as far the as far as the roadmap,
• 12:59
  Speaker 1: when you going forward, a little bit about the Zeno token,
• 13:04
  Speaker 1: or give me some idea of what is next down
• 13:07
  Speaker 1: the road here for you.
• 13:08
  Speaker 3: Guys, created app, create our iOS app, and get out
• 13:12
  Speaker 3: there so people can start using it, and then we'll
• 13:14
  Speaker 3: start moving to like the revenue model we said of
• 13:17
  Speaker 3: unwrapping off round, paying token swaps, maybe staking things like that.
• 13:21
  Speaker 1: Yeah, you've got an on off ramp. It looks like
• 13:24
  Speaker 1: Q three Q four. Is that when that would happen?
• 13:26
  Speaker 1: Do you think yes?
• 13:27
  Speaker 3: Yes?
• 13:27
  Speaker 1: And then partnerships and NUS and hardware providers, that's a
• 13:31
  Speaker 1: that'll be a big deal.
• 13:32
  Speaker 3: Yes, We'll be having ongoing conversations. We've got some good
• 13:35
  Speaker 3: connections there, so hopefully very cool. You can get into
• 13:38
  Speaker 3: these payment apps.
• 13:40
  Speaker 1: Yeah, implement play to earn rewards, and then merchant covered
• 13:44
  Speaker 1: gas fees, which I think we talked about a little
• 13:45
  Speaker 1: bit there to kind of create a lower friction.
• 13:48
  Speaker 2: Man.
• 13:49
  Speaker 1: I think you're onto something here, Tom, and I'm interested
• 13:51
  Speaker 1: to see how this resolves, especially because it's involved with
• 13:55
  Speaker 1: XRP and I look at the XRP and the ecosystem.
• 13:58
  Speaker 1: It's very young, but at the same time very robust.
• 14:01
  Speaker 1: So I think you've hit on it in terms of
• 14:03
  Speaker 1: some of its strengths for sure. But we're definitely going
• 14:06
  Speaker 1: to be watching very close. So thanks for coming in
• 14:08
  Speaker 1: on the show today.
• 14:09
  Speaker 3: We appreciate it, Geez, thank you very much.
• 14:11
  Speaker 1: All Right, you guys, if you're not in the Diamond circle,
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