Meet Nick Saponaro of the Divi project: a blockchain payment ecosystem on a mission to make cryptocurrencies easy to use and drive their mainstream adoption.
Tell us about the Divi Project
While cryptocurrencies have the power to revolutionize the way we use money and deliver a better, fairer financial system and future for all, this can’t happen the way things are now.
Crypto platforms are too slow, the fees too high, onboarding and usage too complex, and mostly, you have to cede custody of your coins in return for ease of use. If Crypto is to win, it has to be better than the alternatives.
By removing barriers to entry, innovating new frictionless technologies, and delivering use cases for the developed and developing world, Divi is helping people across the globe to engage in this new economy and achieve financial freedom and inclusion.
How did you come up with the idea for the company?
Both Geoff and I are crypto enthusiasts and investors and could see the potential the industry had for creating a decentralized system of finance that benefited everyone. However, there was a big problem. Crypto was struggling to achieve mainstream adoption. Many avoided it because they found it too technical, complicated, and scary.
The coming digitization of all money will inevitably be the world’s largest transfer of wealth, in the range of hundreds of trillions of dollars. There has never been a bigger financial opportunity in history, and we wanted to ensure that everybody can share in it.
But, to trigger mass adoption and live up to Satoshi Nakamoto’s original vision, decentralized crypto has to offer everyday utility, and this is precisely where Divi is making a big impact.
Our mobile smart wallet enables users to simply send and receive some of their favourite coins, as well as earn additional money from the currencies they hold. By using human-readable addresses and best-in-class UX, we will give people the ability to move seamlessly between fiat and ensure that anyone and everyone is able to participate.
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How has the company evolved during the pandemic?
Cryptocurrencies are the key to solving the challenges faced by the unbanked and people who live in countries where they are experiencing a drastic devaluation of their local fiat currency. At Divi we take these issues very seriously.
During the pandemic, we have been working with our community to support real-world initiatives they’re driving using our currency, platform, and technology.
The Divi Green Project in Venezuela has established a circular economy that’s improving living standards. The Spaghetti Project in the Philippines provides hot meals to local residents, and the Khayletisha Cycles Project has ensured essential workers and children in Cape Town can travel safely during lockdown.
What can we hope to see from Divi in the future?
Our primary focus is on delivering the first iteration of our smart mobile wallet. After that, additional features will come thick and fast This year, we also intend to incorporate Fiat on-ramping, making it easy to buy cryptocurrencies and convert them back to traditional currencies again, banking facilities, additional coins and much, much more