PayID revolutionized the way people do payment transactions. This is in line with the thinking of a crypto expert, Adam Traidman. He is the CEO of BRD Wallet, SBI Mining Chip Co., and SBI Ripple Asia. With the discussions made with him, he provided a detailed perspective on how PayID changes his business. But first, let’s get to know more about him.
All About Adam Traidman
Adam Traidman originally resided in Chicago. Growing up, he pursued electrical engineering in New York. After that, he started his career at Los Angeles NASA Jet Propulsion Lab and Caltech.
He then transferred to Silicon Valley doing chip design for Texas Instruments and Cisco. During his stay, he realized there were a lot of smart electrical engineers who he thought were better than him. As a result, he moved into different industries, such as marketing and sales.
After all of these, his path changes with a phone call from his friend. He asked him to build electronic software as a startup. They eventually sold a lot of software licenses. He received another phone call, but this time, it led him to become the CEO that he is right now.
The phone call he received was from his former worker. He asked him to start a Bitcoin company as it started to become a big thing during those times. The product of this call is the BRD Wallet. It was known before as Breadwallet or Bread. It was launched in 2014 as the first-ever cryptocurrency wallet in the App Store.
Facts About BRD Wallet
- It has 4.5 million users and counting.
- It is available on iOS and Android.
- It supports altcoins such as Wings, Ripple, Bitcoin Cash, and Ethereum.
- It is PayID-enabled.
- Simple user interface.
- One-click capabilities for sending and receiving.
- Security is tightened by Apple’s encrypted storage.
- Trades more than 100 ERC20 Tokens.
- Not compatible with hardware wallets.
- High fees are imposed when fiat is used to purchase cryptos.
- Has no multi-sig feature.
SBI Ripple Asia and SBI Mining Chip Co.
SBI Ripple Asia birthed from the partnership and investments with Adam Traidman, Ripple, and Xpring. Consequently, his network became even bigger when he started working with Yoshitaka Kitao of SBI. With this further connection, SBI Mining Chip Co. has come under his wing. This helps the wide adoption of Ripple ODL and XRP in Japan.
Adam’s View on How PayID Flourish Financing Industry
It is well-known for most people that PayID creates a safe space for everyone’s transaction when using it. However, from Adam Traidman’s perspective, PayID helps the financing industry and his businesses become more appealing to users.
When he got connected with Ripple, he initially thought that PayID (developed by Ripple) was tailored for his businesses. When, in fact, Ripple created this for any cash transaction businesses or systems that he found so great.
“In the crypto industry, since the early days, other companies have tried to do it (PayID system). But they didn’t have the Ripple cloud of Ripple to create an ecosystem. And they didn’t give it away; they were trying to make money off of it. To be honest, I think it is quite altruistic (for Ripple) as they are giving it away. And not just tied to XRP,” he elaborated.
He also enumerated why PayID hit all the bases:
- Fully compliant with AML
- Email and phone numbers can be used
- Supports crypto and fiat
More Perspective About PayID
Aside from personal use for customers, which uses personal contact numbers, emails, or ABN. However, if you own a company or sole trader, ABN or organization identifier can be used to register as your PayID.
With this, you can transfer money regardless of the reason, for shopping, sending money, or paying for services. In addition, gambling lovers have a new opportunity – to pay for their entertainment via PayID. You may check out our guide to PayID pokies if you want to learn more about it.
Nowadays, new casino websites or platforms also enforce the usage of PayID to those players who can utilize it. Gambling activities on PayID pokies have become more secure because of PayID. It’s for the reason that a player’s banking information won’t and cannot be shared on the casino site. Although it seems much safer with PayID, responsible gambling should always be one’s priority to prevent stress and financial loss.