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110 sats \ 5 replies \ @thebitcoinbugle 4 Apr \ on: I'm Dhruv Bansal, co-founder of Unchained, AMA! AMA
Do you have a closed source phone app as part of the multi sig solution like Casa?
I like the route they go because it sets things up for the potential for them to be very compliant with authorities if needed to be.
We do have an iOS app we just launched recently -- check it out!
Not 100% sure if your second sentence is earnest or sarcastic! But I'll take you as earnest and say that Unchained's motivation for launching a mobile app was not compliance-related but convenience-related. Clients kept asking us for a way to check their balances, receive a deposit, or buy bitcoin while they were on the go -- the mobile app provides these features :)
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Yeah that makes sense. Thanks for your thoughtful responses.
If Bitcoin becomes captured because of regulated companies dominating the off and on ramps, as well as general development of products that are captured, what do you think the future looks like for humanity and how is your company trying to prevent that?
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As a company, Unchained is centralized. But our clients can leave our platform at any time, we can't stop them, they have their own private keys and open source wallets exist (some of which we've written!) that let them pull all their bitcoin out with a single tx.
If this were true generically of all financial service providers I think the culture of finance and banking would be very different. Companies would, like Unchained does, be forced to create value and make their clients very happy in order to retain them.
Also, long-term, I don't know how important on and off ramps are...what are we moving on and off in 2060? Dollars? I don't know how relevant those will be at the time! Maybe people just stay within bitcoin by then :)
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I would like dollars to be not that relevant, but the push towards stablecoins that's happening right now have the possibility to really prolong their relevance.
I think we are really in an Atlas Shrugged moment where the state will be come so intrusive that the only option is for the system to collapse.
"As a company, Unchained is centralized. But our clients can leave our platform at any time, we can't stop them, they have their own private keys and open source wallets exist (some of which we've written!) that let them pull all their bitcoin out with a single tx."
I guess the only hope is that incentives will prevail.
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Rereading your post -- I think I may have misunderstood the first question. While we do have a mobile app, the mobile app and the device it runs on are not part of the multisig wallet that protects your bitcoin. This is different (IIRC) than the Casa solution :)
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