Hey everyone I’m Scott Cunningham aka
@scottcbusiness and today we’re here with Paul Puey who is the CEO and
co-founder of edge and if you just like to introduce yourself that’d be really
awesome thanks for having me Scott yes as you had mentioned my name is Bob Tway
CEO and co-founder of edge a long time kind of technical guy used to work in
Silicon Valley for a NVIDIA back when they weren’t a mining company you know
at least considered a mining company in the cryptocurrency space when the
graphics was their only thing that they had done and discovered that coin crypto
back in 2013 and have been building ever since wanting to bring much better
usability and the more frictionless experience to wallets and exchanges
while still letting people fully control their money awesome awesome and yeah so
I met your team at futurist and and then we sort of collaborated and got this set
up which is awesome and I know you’re really really busy so so how busy is
your day now on average like what does your day look like on a day to day basis
as the CEO so I alternate my days between a heavy meeting day for internal
meetings so then the company with no folks in engineering with marketing and
business development and QA and support to meetings that are very heavy for
external contacts within the company so business development partner companies
partner influencers integration partners you name it anything that’s kind of
external to the company and then I have heavy day’s worth of just like on email
and communication on slack telegram all the different hundreds of communication
channels that we have nowadays for communicating both internally externally
I’m just back and forth on that so that’s kind of my rotation in the week
where it’s you know heavy meetings internal heavy meetings external and
then and then some days where I’m just a heavy communication external to the
company with of course overlap here and there and then on Fridays we do a live
Q&A where people can go to ask questions of the company we also answer questions
and cover some of the latest topics that people are talking about in the crypto
space we do that every every Friday at 12 p.m. Pacific
awesome well for people who don’t know what edges could you give a little bit
of an introduction god I got it so edge is a noncustodial exchange in wallet and
it was founded back in 2014 originally as arrogance and that was the name of
the company as well as the name of the app ever it’s allowed people to simply
send and receive Bitcoin it had a built-in merchant director he’s really
focused on payments allowing people to and motivating people to spend crypto
and use crypto in the real world its main differentiator was its key
management architecture it allowed people to fully hold and control their
own private keys but without ever having to c24 words or a string of random
letters and numbers that they had to write down or a file that they had to
backup or if you remember even the early days where you had to print a PDF from
your phone and save that PDF like all of those processes for key management or
invisible an edge just create an account and log in yet you never gave up
personal information you never gave up access to your funds you could super
easily enable two-factor and even enable password recovery so all of that was
folded into err bits and now we’ve really called pivoted but we’ve shifted
the focus of our app and launched a completely new app now called edge which
is a noncustodial exchange we took all that functionality of key management
made it multi-asset so now I support for the top 10 cryptocurrencies as well as
most the top 20 crypto currencies by market cap and a bunch of tokens ether
Manero xrp no stellar and the like and allow people to buy sell and trade both
crypto – crypto as well as from fiat – crypto crypto to fiat and we partner
with right now 16 different back-end exchange partners to facilitate that all
around the world covering different regions with different currencies and
different payment mechanisms so it is a really rich functional exchange all in
your pocket awesome yeah and I remember signing up it was very very easy you
know compared to you know some processes very challenging but uh but yeah you
guys made it a very smooth process and I think that’s one of the really big
things to be focused on right now – just to really get mass adoption we
needed to be as easy as possible and almost people where people are unaware
of the really technical aspects not not that they don’t know about them but that
they don’t have to worry about them per se exactly so yeah so so what gave you
the idea to start this or like where’d where did the motivation come for this
you know I remember I was I still AM you know one of the organizers of the
Bitcoin cryptocurrency meetup here in San Diego and as crypto was ramping up
in 2013 I was giving a presentation on how to use an old desktop wall that was
known to be pretty secure and in the middle of that presentation the entire
process of setting up and signing a transaction in broadcasting it was an
offline wallet I think it was called armory right it was armory at the time
and in the process of teaching people I see people’s eyes just glazed over like
as if they did they couldn’t believe that they were gonna have to do this
to manage cryptocurrency and almost in the middle of that presentation I almost
wanted to throw up my hand and say you know forget everything I just said you
know we’re gonna have to do something I’ll recommend something better for you
guys you know in a few months but I pushed through with it
finish the presentation close the laptop and said this was terrible and that was
a turning point I mean saying I think we could build something better and I had a
few ideas already inkling and the ideas inkling were around some other products
that inspired me literally a password manager was part of the inspiration
another tool that I used BitTorrent sync now called Vassiliou sync was another
piece of inspiration it’s the concept of encrypting data and then backing it up
and synchronizing it so resilience in eise’s data we’re still a sinker
BitTorrent sync synchronizes data in an encrypted manner password managers
encrypt data blobs and data for you with one password and we said I can we can
put this together and make it a part of the wallet many people were using those
separate tools already but they’re having to put the keys into these files
which they put into the synchronization tool and or encrypt first and then put
into these synchronization tools I said let’s package all together into
one application and was kind of the genesis of the idea of
you know at the time air but now edge and that we’ve pretty much been building
since and have incorporated far more functionality than your average password
manager as I’d mentioned you know including two FA and password recovery
pin log and biometric all the stuff that you see now in our application yeah
absolutely in hand how long was that process so we had C launched the company
back in January 2014 but didn’t this launch the app didn’t launch the app at
least the wallet portion app not until very late 2014 early 2015 like November
December January when it really started you know kind of getting gaining
traction we did as I’d mentioned we were very focused on payments at the time
when we were still urban so I had the merchant director who actually launched
the merchant directory both on web on mobile in March and April of 2014 and it
was kind of our way to get a foot in the door get an app into the hands of people
already and people loved it and then activate the wallet
functionality after the fact so while the the wallet was the first thing in my
mind the the merchant director was also was very easy to build and I felt like
that industry could use it although now in retrospect that’s it’s too early for
that at the time to for like the industry could use it so we built that
fairly quick and deployed it out into the wild and got into the you know got
into people’s hands and then activated the wallet after the fact so Airbus is
running since about early 2015 and we switched over to Ed during the course of
2016 and launched I’m sorry 2017 and then launched the app and a full
production in February of last year okay okay yeah so you guys have been around
for for quite some time yeah so if we have that yeah yeah so so
what are some of the next big updates for edge and like what do you guys got
going on in the works right now got it so we’ve we’ve gone through a huge push
of updates over the last quarter the biggest focus has been integrating new
back-end exchange partners to give users more options to buy sell and trade in
different parts of the world so you know as an example we launched a partner
called bidi inside of that lets people in Europe buy buy and
sell Bitcoin up to $5,000 worth per day with absolutely no key oh I see they
don’t have to enter an email phone number name nothing
just so we sent a bank transfer create an order for how much you want to buy
send a bank transfer to the exchange and then out comes Bitcoin shows up inside
of the app alongside with the support for Apple pay which you know you’re in
Canada I was one of the first countries that we supported Apple pay in was
another partner that we’ve got and we’re now launching support for the UK so
pretty soon in the next few weeks people in the UK will be able to use a native
bank transfer method called faster payments which is super popular there
and they’ll be able to buy and sell crypto through that and that uh that
partner that supports faster payments so as far as like major nuggets the biggest
focus right now is we we did a heavy year of building out now it’s really
growth and so we’re rolling out referral programs promotions we’ve got a Black
Friday Black Friday promotion rolling out this week where people can buy and
sell Bitcoin in the u.s. zero fees from from Black Friday through Cyber Monday
no that’s not like a thing necessarily over in in Canada we should have Boxing
Day actually right but correct me if I’m wrong yeah that was there but but we
still we still like to jump in on the deals of course like for us exactly it’s
it’s available if it’s available to you you don’t block in if you don’t have to
walk in the store you got cyber monday deals but yeah we’ll do boxing that’s
actually a good reminder we’ll do a deal for the Boxing Day
but yeah I think it’s it’s mostly growth and promotion gonna see coming out of us
with really innovative like coin days where we promo a specific coin and work
with a lot of influencers and and create referral programs to get people engaged
an edge awesome and and how do you feel that edge fits in with other exchanges
or how it’s like uniquely different and and what kind of differentiates condit
so the biggest difference is that it’s not custodial like
in and of itself that you just don’t really see rich exchange functionality
in a noncustodial matter and for the people that i think we’re two fits in as
far as the demographic of who would use edge it’s not going to be your more
frequent trader that needs to put in fancy order types into the exchange like
you know more or as limit orders and whatnot they
trade less frequently but they’re obviously the person does care about
holding their own funds and if you do care about holding your own funds it’s a
real pain in the butt to trade even infrequently like you know the price
just went up 15% or went down 20% and I’ve got my funds on a software app on
my phone or on hardware how do I then go and take that and say well I want to
hedge it into dollars or I want to I want to buy from the bank account you’ve
got to send that crypto or send your dollars into an exchange potentially
wait a few hours or days for it to be deposited and then create the trade and
then wait for that to complete and then because you care about holding your own
funds pull the money out yeah and so if you look at the friction involved with
both owning your funds and being able to do just even occasional trades it’s
pretty high I think that’s what gets people to simply just say screw it I’ll
just leave it on the exchange or just simply hold it and kind of miss out on
some opportunity that they may be interested in like you know buying a dip
know what not and so we’re targeting that exact demographic not the frequent
trader someone who already has a full time job doing something else but
they’re keeping their eye on crypto they go to the meetups they learn about a new
project that they might want to put some money into and be able to do it easily
while still holding their funds so that’s that’s what we’ve got built I
think pretty much the only app that has this level of exchange functionality our
crypto – crypto exchange searches across eight different exchanges including
several decentralized exchanges to get you the best price for the pair and the
amount that you want to swap and so it’s unparalleled in that sense and we just
don’t see this in the market at all I mean there’s many apps that are called
wallets and people think that the wallet space is very very congested but from
the viewpoint of the functionality exchange functionality that we’ve got I
think we’re one of a kind yeah absolutely I think it’s it’s really
important especially for people who don’t understand why you need to have
like a wallet that isn’t on the exchange and you know all the differences for
them it’s like it’s like we’ll have to make all these different accounts and
I’m not even gonna bother so I think it’s it’s really important that you have
like a a one-stop one one place that they can go and do every
exactly so am exchange point of view right yeah yeah so so where do you see
edge going in the next year and then in the next like five years I know that’s a
long time frame but in in an ideal future now we’ve got the five year plan
set already five ten your game plan so in the next year we’re looking at
padding what I’d call more advanced trading functionality think not so much
limit orders but notifications for limit orders so since users control their
funds we can’t engage a transaction for them without their permission but one
thing we can do is create notifications that let them know that an order that
they want to do a price target has been hit and make it a one tap operation for
them to execute on that price target so if they want to sell in to sell Bitcoin
dose stable coin so they think the price is kind of high they get a notification
they tap it goes in the app and boom right they basically sold in a stable
corner or vice versa so creating a recreating a lot of the functionality
you would get with a more centralized exchange such as also leverage so there
are smart contracts now that are offering the ability to do leveraged
trading you want to get two three four five ex leverage on Bitcoin you can do
that through an ethic smart contract because you’re not actually trading the
actual coin you’re just taking a bet on the price and someone else is taking the
counter bet on that price and so you can use that you can basically do that with
a smart contract on stable coins independent of the actual asset and we
see this obviously is a really popular product in the centralized exchange
space and we think this can become a very popular product and the more
decentralized smart contract space making it both more accessible lower
risk as you don’t have a counterparty and just gently more more usable to more
people around the world so that’s some of the stuff that we’d like to
incorporate in there as well over the next few months and years I’ll then yeah
you asked about the you guys should buy your plan yeah a fiber plan here’s the
thing that we didn’t really touch on what I described edge so I mentioned how
when we transitioned from err bits to edge the big thing that we the key
takeaway we had was key management so we carried over the same architecture of
key management from ebbets and to edge but one of the things we did is we made
it module we made it a software library that other apps can use so now other
apps can get the same experience as edge so that their users don’t have to create
and backup keys and write down words and whatnot
they just create an account and login and so edge uses that SDK it edges
actually two-part two-part program when is the SDK to create accounts and login
encrypt accounts and wallets in other parts the rest of the app you know shows
your transactions talks to blockchain that works and whatnot well we’re
already deploying that SDK into partner applications and what you’re going to
see over the next five years or so is other applications that have our SDK and
people can create an account in those apps but to make it even cooler and
easier and more frictionless if you already have edge on your phone you can
single sign-on into these apps you just scan a barcode or tap a button and the
wallet of those apps that they encrypt of all of those apps automatically gets
created client-side in that app encrypted and then backed up to your
edge account and it’s sandbox across all the different apps that you may be
logging into so think of it think of this as the world’s only encrypted
private single sign-on across multiple different apps we’re trying to work on
in place almost like a Google Drive Google Docs ecosystem of apps that use a
shared storage mechanism which is Google Drive and a single sign-on which is your
your Google login except that unlike Google Edge cannot see any of the data
and apps look at this data store it’s integrated right inside of the app
that’s where it what we’re excited about I think in five years you know we want
to assess we want to amass know tens if not hundreds of millions of users and
then start to push app developers to create private secure apps because now
there’s this user base that can easily use them because they don’t have to deal
with key management and fundamentally we think key management has actually been
the biggest barrier to adoption not just a cryptocurrency but of private secure
encrypted apps and if we if we can solve that for crypto we can take that same
solution apply it to other applications as well
and we’re excited to see that in that five 10 year time frame Wow
yeah you guys definitely have definitely laid out your your long-term plan for
sure so what is the what is the current user base size of the people using edge
right now so accounts wise we’ve created just shy
of a million accounts on the platform and user base lives and we’re
accumulating several hundred a day we’ve got you know tens of thousands active
you know a week and per month sometimes it spikes well above that and you know
big ramp up some price that spikes up sometimes hitting almost 100k active in
a month but I think we still got plenty of room to grow from the cryptocurrency
space you know when things spike we see huge growth we saw huge growth in in err
bits back in 2017 and that’s when our entire company was fully heads down on
building edge we did almost no marketing you know barely any communication didn’t
go to conferences you know we still saw a 10x spike in an app that didn’t even
fit the market like the whole 2017 market was about new protocols tokens
and whatnot yet our old app was just pure Bitcoin now we’ve got a great app
that fits the market that has a bunch of partners covers the functionality that
people want with exchange functionality and it’s definitely primed for the next
full run Wow yeah absolutely um so I I met your team originally at
futurist are there any other events that are coming up soon or that you guys are
planning to attend next year that we should be looking looking out for you
for actually practically next week so in kind of closing out the year we will be
or I’m gonna be over at blokland Cleveland so it’s an annual blockchain
cryptocurrency conference it’s a second year running and had great attendance
last year had sponsors from major enterprise companies I mean not I don’t
know if Microsoft sponsored but companies that size you know we respond
sirs no Deloitte type sponsors and the second time running I’ve been invited to
speak that’s gonna be early December there’s gonna be like the 9th and 10th
immediately after that one of the most popular conferences around the world a
little bit consul Latin American Bitcoin conferences
for instance happening on the 11th and 12th or its Tulsa 13th of December
that’s gonna be in Montevideo Uruguay down south they rotate which country in
Latin America it is every year so this year it’s in Uruguay I’ll be headed
there and I’ll be speaking as welfare and then there’s a couple meetups while
I’m down in South America I’m gonna visit Brazil and hit the Porto
Alegre there’s a great community there that drives crypto adoption and they’ve
got regular meetups as well as stopping through San Paolo
on the way home or another Meetup and so that they’re hosting so that I could
present and a few other projects are presenting as well going to make sure as
I have a packed schedule for sure a bet that’s packed about a week in a week in
a day of pre pax good all of that is happening in the course of about a week
you know eight nine days and whatnot and then you know we’re kind of chilling a
bit for the holidays we haven’t really planned out the schedule for next year
yet there’s a good chance at least some of us would head over to the North
American Bitcoin conference in Miami we’ve attended that easily the past
several years it’s generally been a pretty good conference and mole live and
the organizer is one of the you know long-standing conference organizers and
the the Bitcoin cryptocurrency space so hats off to him for sticking around and
throwing good events so but after that we’ll see we’ll see what kind of what
crosses our path and what lines up with you know potentially some announcements
that we’ve got yeah so I mean if there’s anything everyone should be watching
because you guys are clearly doing a lot yeah so where can people go to learn
more about edge and where who like what at what handle can they follow on say
Twitter or any other honor perch socials you’d like to share yes so the best best
place to find out and get any links to all of our other social media sites is
just at our website which is super simple edge dot can’t get any simpler
than that so edge dot a p– and from there you can get to our twitter page
which is at edge wallet and that cover is obviously a lot of the news that
we’ll put out and of course we have a YouTube page as I’d mentioned we do a
live Q&A every Friday at 12 p.m. Pacific time you can go and ask questions live
from us or just ask us stuff on Twitter and we’ll try to have post answers to
them during the week and a lot of people do ask questions about our our
architecture like hey you know this private key
they’re definitely different than what most people see how does that work we’re
happy to answer that as well as you know upcoming changes to the protocols that
we support you know monaro is about to go through a hard fork and so as a
theory and we’ll get those kind of questions pretty frequently and so yeah
far away and let us know what you’ve what’s on your mind and we’ll try to get
that covered but edge that app best place to find us and you can find us
from there across different social media sites awesome and is there anything else
you’d like to share with the audience before we end this off I think it’s it
other than that I give edge a try and send his feedback you know buy sell and
trade you know whether or not you think we’re in a bear market or slowly
climbing out of it there’s probably someone that you know that is looking to
get into crypto and it’s it’s always a generally pretty good time I think we’re
a pretty good product for that so recommend to a friend yeah absolutely
and you know people should definitely check it out and you know see for
yourself how easy it is to use and all the benefits and again if they have any
questions they can always jump in on a Friday and ask some questions for your
life Q&A so you know you guys are clearly very available to people for
that so that’s really awesome and I just like to thank you again for coming on
and this was really great I think it’ll show it’ll kind of highlight a lot of
the benefits and different opportunities people have if they start using edge so
I think it’ll be really great for my audience and I appreciate you calling on
hey thanks for having me appreciate it Scott absolutely Cheers