Despite his busy schedule, I managed to get a hold of our friend Aleks(ander) Nowak, COO of XBTerminal. Aleks agreed to conduct a short written interview prior to his presentation at the Bitcoin Expo 2015 later today, and you can find our discussion topics below.
JP : Hello Aleks, can you give our readers a general impression of the year 2014 for you personally and professionally?
Aleks : 2014 was an interesting year generally – we saw yet more banking scandal and generally a hard hit to all the markets including Bitcoin towards the end of the year. Adoption has been slower than we might have liked and generally the volatility of the price hasn’t helped consumers. It’s not terribly convenient for normal consumers to have a wallet loaded with something that will have changed in value while they are out.
JP : What is your take on Bitcoin and other cryptocurrencies in 2014?
Aleks : I would call 2014 the year of the Alt-coin. We have seen so many innovative new features and technologies appear. However what has been very apparent is that with few exceptions that most Alts were pump and dump schemes irrespective of the value of the technology which is a shame as a lot of people got burnt.
JP : In your opinion, how do you envision Bitcoin and cryptocurrency evolving in 2015?
Aleks : This year I think we are going to see a lot of great things this year that will help consumer adoption. Cryptocurrencies are complex for non-tech oriented people to use. Services like Bitreserve which offer the ability to use Bitcoin but keep the balance in local currency is something that will help people by taking away the risk. The growth of multi-signature wallet services also greatly aids consumer protection. People are used to being able to call their bank and get their PIN or password reset. I think this is important to remember and multi-sig facilitates these kind of facilities. Additionally I think we are going to see some great new technologies which will allow interconnection to financial systems. It’s going to be interesting to see what regulation arrives this year as well.
JP : I know you and Alex are still hard at work on the XBTerminal project. How is that coming along so far, and what do you hope to achieve in 2015?
Aleks : We have been extremely busy refining the backend and ensuring that the platform will enable a wider range of devices beyond merchant point of sale. We also are working hard with VoguePay in Nigeria to roll out our terminals there, cryptocurrency based systems allow the unbanked access to electronic payments
JP : We know about some of the difficulties in regards to banking relationships, especially for Bitcoin startups in the UK. How has XBTerminal been handling those obstacles?
Aleks : We simply were forced to look for banking support overseas. Our banking is in Poland. However it does look like things will change this year with several banks starting to change their stance and conduct proper due diligence rather than blanket-ban bitcoin.
JP : Many Bitcoin enthusiasts feel the focus for 2015 should be on consumers. Can XBTerminal make a difference in that area, compared to other companies offering similar services?
Aleks : Our platform is focussed on usability from both the consumer and the merchant’s point of view. There are numerous systems available but few that are cost effective and simple to setup. We are working on enabling a wider variety of systems this year so keep an eye out on our future developments.
We have also begun an outreach project in Camden, London where we are helping to enable merchants to encourage a local bitcoin ecosystem.
JP : Will we be seeing you and/or Alex at any of the upcoming Bitcoin conferences this year?
Aleks : Yes we will be at the Bitcoin Expo in London later this month (January) where I’ll be speaking.
We at CryptoArticles would like to thank Aleks Nowak for his time to answer our questions, and we will be looking forward to seeing him speak at the Bitcoin Expo 2015 later today!
Website : http://xbterminal.com