Bitcoin Shop is a company that is trying to improve four main aspects of Bitcoin:
- Ways to shop with Bitcoin- with Bitcoin Shop
- The way you store Bitcoins – with BTCS Wallet
- The way you mine – with BTCS Mining
- Ways to exchange Bitcoin – BTCS Atms
Through strategic partnerships, investments, and purchases they are doing just that. I’m here with Charles Allen, the CEO over at BTCS. Charles has big ambitions and rather than trying to reinvent the wheel, he has teamed up with people whom he believes are great companies in the industry they work in.
Could you tell me a little bit about what BTCS is?
Bitcoin Shop Inc. plans to build a universal digital currency platform under the BTCS brand for (“Blockchain Technology Consumer Solutions”) with the goal of enabling users to engage in the digital currency ecosystem through one point of access.
BTCS is split up into four parts according to your website. Shop, Wallet, Mining, and ATMs. What does each one aim to improve?
Over time we plan to integrate all components to provide a seamless user experience.
Could you comment on your partnerships with Gem, Gocoin, Expresscoin, and Coin outlet? What do you aim to achieve with these alliances?
We are more than partners in these companies we are also investors in them. We plan to work with them towards building a universal platform. It also gives my almost 8,000 public investors indirect exposure to other business in the ecosystem which is very valuable considering BTCS is the only pure play public company focused on bitcoin and blockchain technologies.
Recently, you achieved an 83,000 sq. ft facility for mining, how will this improve BTCS Mining?
We at capacity at our current facility and this gives tremendous room to grow our mining operations. Additional it has the following benefits:
- Expandable to 10+ Mw of power available to building with minor improvements
- ~30% lower operating cost then current facility
- Potential for hosted mining service and additional revenue streams
What are some goals and achievements you plan on accomplishing with Shop, Wallet, and ATMs?
Our goal over time is to integrate these various solutions into a more seamless consumer facing service. The vision is to allow users to have one point of access where they can log-in and engage in the digital currency ecosystem and have the system connected to the fiat system. Obviously this is a tremendous undertaking and we are just putting the pieces in place through our partnerships and investments in an attempt to make it a reality.
What is in the future for BTCS as a whole?
Management remains very optimistic about our future and ability to grow our business. One of my key goals us to up list BTCS to a major exchange such as the Nasdaq or NYSE.
I am personally excited for what BTCS has to offer. In a phone call related to the interview, he explained the vision for his company and walked me through his presentation. Acquiring a 83,000+ square foot building to be purposed for just mining is a huge overhaul and I’m excited for what BTCS has to offer in the future. Besides that, he has numerous other projects under hand like placing ATMs across the US as well as a shopping engine that will allow people to search for the cheapest price and pay with Bitcoin on the spot.
Photo Source: BTCS
Have you used BTCS Services before? Do you recommend them?Show comments