HandCash - Bitcoin Wallet App Interview

I recently had the opportunity to interview Alex Agut, Product Designer from
HandCash to see what it is all about. I am very impressed with the professionalism, quality and speed of this Bitcoin Wallet. In this interview, Alex is nice enough to answer my questions in Q: / A: format about holding cryptocurrency on your cell phone. Readers will find our conversation full of product details and I learned a great deal about HandCash and their future prospects. Overall this makes me very optimistic about Bitcoin SV (BSV) and HandCash in general.

($JARED Handle)
Jared: Where did you come up with the idea for HandCash

Alex: My cofounder and friend Rafa and I have been working together in other projects and apps for a few years, and we’ve always liked experimenting with new technologies and create small MVPs that can demonstrate value of some sort. In summer of 2017 we started digging into Bitcoin and we thought: “Why do they call it peer to peer digital cash if it doesn’t work like cash at all?” - So we decided to build an app that made Bitcoin FEEL like handing cash. Hence the name.

Jared: Why do you like Bitcoin (BSV) vs other versions of Bitcoin? 

Alex: I like to say that Bitcoin, as an open source project and as a world phenomenon, has been evolving for years in response to what the “humans in Bitcoin” wanted to do with it for their own purposes. Bitcoin SV it’s an exercise of focus and rediscovery of Bitcoin, what it was meant to be. And everybody surrounding the project shares the same humility and respect for the original mission of Bitcoin, making it appealing for long term planning as we don’t expect fundamental changes down the road. 

Personally, I have of the love in the world for the people and businesses that have remained in Bitcoin Cash (where we started), I consider them our brothers - it’s just that there were a few fundamental differences that made incompatible our visions. I wish them the best. 

About Bitcoin BTC, my personal opinion is that we have to be careful on how we approach the moment when Bitcoin SV replaces it - it’s a HUGE branding challenge, but it’s workable. It’s not a matter of “IF” it’s going to happen, it’s a matter of “WHEN”. 

Jared: Does HandCash have commercial backing or is it self funded? 

Alex: Currently, nChain shares a majority stake in HandCash in exchange of funding, consulting and use of patents. We are working on future funding rounds as we are getting bigger than expected, and have HUGE plans for the future! 

The goal is to monetize down the road with B2B services like Cashport, POP! - our checkout app, etc. 

Jared: What do you see as future applications for HandCash? What types of Connected Services are possible in the future? 

Alex: There are dozens of Cashport apps being built as we speak. I can’t disclose details but expect exciting new kinds of businesses only possible because of automated micropayments: secure public WiFi networks that you pay per second, video games with real cash rewards, social media apps that incentivize healthy discussions and quality content, podcast or video apps like Keyport TV that pay content creators… 

Cashport is great from a business perspective because it gives you the tools to dethrone the current world of forced subscriptions, fake virtual currencies for video games, selling your privacy away… all of that ends this coming decade. 

Jared: On the app in the settings menu there are three methods to backup your account. Which method is easiest for the average user? 

Alex: Google Backup, definitely. We all have a Google account, so your account is always with you. However, we are going to have just one recovery method in a few months, that’s going to be much better, easier and convenient than anything out there. 

It’s always been a pain in the ass for cryptocurrencies, but thanks to the smart people at nChain, we’ve found a way of solving it. When you formulate the right question, the answer is obvious. 

HandCash Backup
(Backup Page)
Jared: How are transactions so fast? Does this leverage a Bitcoin SV technology such as 0-Comf or other methods? 

Alex: Only valid transactions are accepted by mining nodes (the only ones that matter) so once they consider it valid and get it ready to confirm it, it’s going to be confirmed. Also, they FEEL fast because our apps run natively on your phone and we focus on making it FEEL fast. It’s not just about the network, it’s about the whole process since you open the app until the moment you go back to the home screen after paying for something. It has to FEEL right, we are all about the user experience.
Jared: Do you recommend using HandCash to reimburse friends for coffee or dinner? What is a great use case for the app? 

Alex: We do it ourselves in our circle of friends and in meetups. In fact, let me tell you a short story: in a meetup, I had to leave earlier than expected and the waitress was taking too long for all the checkout thing with VISA. So one of the attendees (and now friend) told me “Just pay me by HandCash” and I gave him €18 with an offline NFC transaction just by bumping our phones. Everybody was super impressed as I left! 

About great use cases, it’s great for remittance, in person store payments (because of NFC) but our big focus is on connecting with other apps and services. There’s still a long way to go, but that’s our focus. And… we will present a new kind of payment in May, at the Coingeek Conference, with a live demo. It’s never been done before and it serves a real world need. We are very thrilled about it! 

HandCash History
(My History)
Jared: What is the best or funniest publicly known $handle registered? 

Alex: Oh! That’s a great question! There have been a few that have been funny for different reasons. The $chicken one had the biggest repercussion - shout out to Stephan Lambert, great guy! It was hilarious to feed the chicken live from your wallet! I cannot recall now any other particular funny $handle, but there are a few. 

Jared: Great. Well thank you for the opportunity to interview HandCash and I look forward to future product releases! I will continue to use my HandCash handle $JARED.

For more information about HandCash Bitcoin Wallet visit HandCash.io or check it out on the Google Play Store and in the near future, Apple App Store.

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