In 1997 Paul Puey graduates from the University of California, Berkeley, and “Google” is registered as a domain name. He will spend a decade in Silicon Valley, and another six years running small businesses before becoming frustrated with the inefficiencies of the financial and payment industry. He will discover bitcoin, and will follow the rabbit hole like many before and after him. He will create Airbitz.
We sat down with the Airbitz CEO and co-founder as part of State of Digital Money’s Speaker Series. We discussed updates, blockchain, and got a taste of what attendees can expect during a special debate at this year’s event.
For those who don’t know, Airbitz is a bitcoin wallet provider and blockchain security platform. (If you don’t know what bitcoin is, leave the site for a moment to find out.)
According to Puey, its mission remains unchanged: create a platform to secure bitcoin and digital assets, but in a familiar and friendly-to-the-masses way. That last part is one of the ways Airbitz stands out from other bitcoin wallets. By hiding the complexities, it is able to drive a more familiar user experience to a cryptic industry.
On What’s New
The company has taken significant steps forward with the development of Edge Security, which helps to secure user data. Edge Login takes the security platform and streamlines the experience by providing single sign on for private encrypted data. Like Google’s SSO, but for decentralized applications.
Edge Login is the world’s first zero-knowledge single sign-on solution. With the new feature, all the data is encrypted on the user side, thereby mitigating the possibility of data compromise if a provider is ever breached.
On the Future
Puey says Airbitz is working towards “a future that is very blockchain based,” where BC can replace centralized systems and infrastructure. The idea stems from the goal of returning the power back to the edges and to the users’ own devices. “It’s a reversal of how we use Cloud. Cloud has caused us to lose privacy and security. We want a future where the client is smart and the server is dumb,” says Puey.
As for the future of the industry, initial regulations have not applied to entities like Airbitz, but Puey points out its possibility once blockchain reaches a certain level. While the internet might be a buzz about Bitcoin and Ethereum, it is still early and the blockchain industry is young.
Puey again,”Many people are not willing to adapt quite yet. Partially because due to the onset of complacency by way of the ‘good enough’ attitude, meanwhile outside the western world these systems have higher potential impact.”
Attend State of Digital Money on July 22nd and 23rd for a chance to meet Paul Puey. He is among the confirmed thought leaders, innovators, and stakeholders that will take part in expert panels and discussions at this year’s event. If you’d like to learn more about Paul and Airbitz, check out his LinkedIn profile and the company site.