The Future of Payments: Spend Crypto like Cash - Amarachi Agwu

Transcript

All right. So today um we are talking about the future of payments and how you can spend your crypto like cash, right? So we're going to do a very quick exercise. 1 minute, 2 minutes, please. Second mic. So does anyone here use OPE? >> OPE >> money points. What's what's your experience like? Second mic, don't worry. I'll get to you. >> Use copy, right? So tell me what it feels like is open money. That one here. >> Simple to use, fast, >> simple, fast, reliable.

>> Great. Does anyone have a different experience apart from simple, fast, reliable? >> You have a different experience. Okay. >> Accessibility to customer service. >> So, accessibility to customer service. Does anyone have any bad experience? bad experience. >> Don't they forget it? >> Okay. Any bad experience? But at the end of the day, we have more good experience than bad experience, right? So, how many of us here hold crypto?

>> You hold crypto. Okay, you've answered my question. Let me go to another person. How many of you hold crypto? >> Okay. Have you tried spending it somehow? So, how was that? Have you done P2P? Was that a process? Yeah. So, can you tell me how your P2P experience is? >> So, I've had issues, multiple issues of scam on P2P. Um, different tactics are being generated daily for scamming. So, I have maybe the one I experienced first was on by BP2P.

So, um, someone sent me money. I wanted to get a refund. Instead of him dropping his own account I used to send. He sent it to another account. So there was no proof. I refunded the money and my coin was released to him. That's one issue. >> Y is serious. Okay. Mine was also serious because at the end of the day my op account was blocked. Why? The person sent me money quite all right. Everything went fine but they reported my account. So I don't I don't understand. So some of them will go as far as um saying that they've paid you marking as paid and they have not paid. So there's a whole lot of they like he said they keep devising a new means of scamming people. So okay so my

slide is up. Um so my name is Amarugu and I'm a blockchain engineer and educator and I'm also a co-founder of digits pay. So aside that um like we're talking about payments. So um you can just see now we have more good experience with apps like OP pay money point but when I just mentioned P2P it was a whole another story all together. So what actually stops us from having that same experience we have with OP and digit pay we have OP and money point digit pay don't enter my m forgive me. So what stops us from having that same experience like swift, fast, easy,

reliable, throughput is like sweet. What stops us from having that? So you can see that when you go to let's say you gather 10 people outside maybe in the market, you can see that we when it comes to the usage gap, when it comes to using crypto to make payments, you can see like just one out of 10 persons are people that use crypto to make payments. And even when they want to do that, it takes a whole lot of stress. They have to go through P2P. I was speaking with a friend. He was like, okay, he wanted to make buy something in the market. He forgot to do the P2P at home. So he went to the market. Now I had to waste like an extra 15 minutes or or more for some persons. I had a friend that tried to do

P2P of like $8,000 the other day. It entered to one day. The guy won one pie. So that's about 12 million if I'm not mistaken. So the kind of experience where somebody has that kind of funds in in their side and if you are not able to prove that okay that say that you've not received the money like you said your funds can be released and you cannot do anything about you cannot beat Bance you cannot beat by bits right and that is it. So we have that problem of usage gap where is about 10 persons that's one out of 10 people use crypto for payments then like we already know now there is always new means of scam so this just about last year you have about 1.7

billion lost to fraud right last year this year oh never join enter so and 15 minutes is like let's just call it 15 minutes sometimes it enters 30 minutes sometimes 24 hours and all of that so why Why don't why like does we have do we have to suffer to make get crypto and also suffer to spend it? And that doesn't make sense. So we need um we need solutions that are fast, secure, and easy just like your OP and your money point, right? So so that when you spend every day, you won't even feel like you're spending crypto. It feels swift and fast and reliable. So um we I

I'm happy to tell you that we have something like that which is digit pay. So as a matter of fact when I was coming here this morning the ride I took actually paid the guy with my digits pay right as simple as putting the account number of the person that needs to get this fund and then sending the money from the digit from your crypto balance instantly. You don't have to go through let me go and convert P2P 15 minutes and all of that. they cancel trade and not cancel trade and all of those stress. So you can actually make let's say for someone that make um naira for someone that make naira right you can deposit your naira and to be held for you as crypto that is one way and you can also make naira payments from your crypto

which is what I just explained and then you can make crypto withdrawals right your money you can still withdraw it and then you can refer a friend and earn $1 that one is by the side right so so I I I just saw that expression So we have that right right. So um this you can scan this to get our app. It's on play store is on Apple store. You can if you're a web guy, we also have a PWA. You can access it on the web. Right. So um there's a a a a cute little video that I made. Can you put it up which is just demonstrating to you how it feels like using Digit Pay.

Um let's wait for that. just is my fine face that is on that video, but I'm looking like someone that was just waking up. So, don't mind. So, don't mind that. Okay, let's So, I'll be explaining because there's no audio. Okay, I'll get to you. So, I actually went to a restaurant. I wanted to buy something and I I'm just basically going to pay this restaurant with my digit pay. I bought of rice and of stew and rice right and this is actually a PWA we have a much better experience with our app that's why you have to get it our mobile app which is on play store and Apple store so I basically enter the

account number shows uh is actually crunchies so it basically detected the people that own the account and now I'm I'm paying from my USDT and I just put I want to pay $10,000 something I've forgotten. And um it's just going to give me the transaction 10,290 transaction um history or summary and I'll put my pin just that same look and feel you have with your old page. The only difference now is that you're no you're no longer paying from your NRA balance you're paying from your crypto balance. Right? So when you have the case of okay you went to this you went to market to buy something and you forgot to do P2P at home. If you have your digit just bring it out in a matter

of two seconds you've gotten your the person have gotten their this thing you know that money pointing you just the commod right so that's how fast and easy making payments from your crypto balance is now so you don't have to suffer to get crypto do air drop you can't suffer again to spend it doesn't make sense so with digit pay you can spend send money to anyone from your crypto balance instantly. No stress. So, you had your question. So, let me just I don't know if there's a second mic if you can get it to him.

>> Hi, my name is Hola Ali and >> hi >> Will you say you you have a great app and I'm very very happy about this innovation because I'm a fan of seamless payment. So, one question. >> Yeah. So I don't know what's the minimum deposits on your app like in USDT and what other blockchains like you can deposit. Do you mean that you can deposit any token? >> Okay. >> What tokens like yeah that's all. >> All right. So for now we are if you want to deposit deposit stable coins USDT USDC right you can deposit that. So from that you can make payments. And the other question you said the minimum

deposit in naira is 3,000 naira. That's the minimum you can deposit. That's about $2ish, right? And then also when when you're sending crypto minimum the as long as the the money is substantial is where you're sending it from that will tax that will collect transaction fee from you. Let's say if you're signing from buy bit, maybe signing on a lisk blockchain. >> Yeah, there's a transaction fee. So, it's ranging between 15 to 150, right?

Is within that range. Yeah, you have a question. So, it it depends on the um liquidity pool. Yeah, there's a liquidity pool behind the scene. So, any other question? Questions, questions. You have >> Yes. >> All right. >> So, I'm more concerned about the $1. Do I have limit of people I can refer? >> You don't have limit. Refer as much as refer your family people. Your everybody.

>> Okay. Business. You people are plenty. Okay. Everybody's my friend. Yeah. You guys. All right. Thank you. >> All right. So if you if there are there more questions QR code okay let okay the slide is gone right we put it back then I'll go to that so if you have more questions okay there is one question there can we get that >> yeah good app here um can you deposit um like any crypto at all or just USD and USDC >> they just stables for now USD and USDC just stables.

>> Yeah. But expect to be able to deposit more like other crypto. >> Okay. Because people don't really hold um USDT and USDC. We hold more of you know order because of the um potentials in them. So I think um one thing um I would like to see just the way you are saying now is to see um that you can hold like other cryptos that's when it will be really something smooth for use. Thank you. >> Yeah. Yeah, that makes sense. But most times when you want to spend, let's say you your you have something on buy bit, but you want to spend most most likely converts it to us. So is that at that point of spending, right? That's where

digit pay comes in because it just makes your payment very smooth and fast. So thank you guys. >> Thank you.