Bitcoinist has covered Easbit twice — once to announce their crowdfunding campaign for their granny proof wallet, and another article discussing Easbit as a whole. We are now here with a third article, in which we interview Easbit regarding their new Bitcoin wallet.
What is Easbit, what does it offer, what does it stand for?
We are a company in mobile software development for cryptocurrency. At Easbit, we genuinely want to contribute to get Bitcoin mainstream. We want to do that because we are true believers of the fundamentals of cryptocurrency.
The key, to achieving this from our perspective, is to make software mobile, secure and very easy to use. Using Bitcoins should be easy as spending a fiat Dollar or Euro. Otherwise, it is just too complicated, and you will never gain the trust of the critical mass.
How do you get away with “no complicated Bitcoin addresses”?
Before we started developing the actual app, we did some extensive research on mobile payments, in general. It learned us a lot. One of the issues people are facing is that people get scared by seeing the long and complicated Bitcoin address.
Within our app, you can replace the Bitcoin address by a profile name. Look at this situation as an example. For e.g. John Doe wants to send Bitcoins to Jane Roe. John and Jane know each other, and they have their phone numbers both listed in their phonebook. Within the app, John clicks just on “My Contacts” and selects Jane. So you just select a contact, and the rest is straight forward.
As a reference, you can still see the Bitcoin address. However, users select based on profile names. This makes life a lot easier.
How have you brought decentralization to your Android app?
From our perspective decentralization is one of the most important fundamentals of Bitcoin. There is no point of central failing.This is a matter we treat with great respect. So we do not store any Bitcoin related data on our servers.
The Bitcoins are stored locally on the user’s end, just like somebody would carry cash in a wallet. Which means somebody is ALWAYS really in charge of the Bitcoins. Such thing that happened at Mt Gox is simply not possible because we do not store any Bitcoins, private keys, and public keys.
We only provide secured transactions, and we will be hosting user-friendly services to make the usage of the wallet as easy and secure as possible. We also encrypt stored and exchanged data.
Can you comment on running Easbit operations on 100% renewable energy?
It is estimated that over 10% of our global electricity bill is consumed by the information and technology industry. In addition, this number is forecasted to grow significantly during the upcoming years. Easbit uses 100% renewable energy for all the servers. When renewable energy is used by a single company, it might look like a drop in the ocean.
We at Easbit want to set standards when it comes to corporate social responsibility for cryptocurrency related companies. It is our responsibility to make sure that the next generation will have a decent place to live without pollution. In addition, hopefully they will do the same for their children.
What does developing according to CMMI level 5 standards translate for the end user?
The Capability Maturity Model (CMM) is a development model created from data collected from organizations that contracted with the U.S. Department of Defense. The term “maturity” relates to the degree of formality and optimization of processes.
This is something that happens in the background. You can say a user will notice it indirectly. It turns for us out in terms of very easy to adapt codes, clean codes, continuously testing codes, excellent model to work with cross-border teams, a significant decrease of software defects and high efficiency.
Although we are a relatively small company, the quality of our coding is definitely comparable with for e.g. a lot bigger funded companies like Coinbase.
What can we expect from Easbit in the future?
Easbit’s main goal is to improve the app continuously. We have now arranged the basics like sending and receiving and the usability. We are already working on the blueprints for the second version. Once Bitcoin has become a part of our daily users will look for an all-around application.
Eventually, the app should become more of a mobile platform which can function as a complete household. We will be offering innovative solutions to make spending Bitcoins in daily life extremely reliable and easy to use.
In the unbanked world, Bitcoin could finally find its killer application. Through cheap mobile phones and convenient wallets like Easbits, Bitcoin has the ingredients needed to do just that.
What do you think of Easbits wallet? Have you used it before?
For more information: http://www.easbit.com/
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