How the Future of Finance Looks in Bitcoin For Businesses, Cryptocurrency for Companies

In an episode from the Unchained podcast, cryptocurrency Beam shared its views on how business may be able to one day incorporate cryptocurrency into their operations.

Alexander Zaidelson, Beam’s CEO, discussed that his platform is developed on MimbleWimble, a new protocol that creates confidential transactions using less computer power. The transactions use less computer power, and as a result, more people may be able to benefit from it. According to Zaidelson,

“We all believe a currency must be confidential. If we want something to be used as a monetary instrument, confidentiality is of paramount importance, because nobody likes for their finances to be exposed – not private people, and definitely not businesses.”

Beam is popular among traders, miners, and cryptocurrency enthusiasts. Zaidelson’s goal is to

“push Beam as a means of payment for various services starting from privacy-oriented stuff like VPNs and eventually more. We’re now working on integrations with payment processors so that merchants can start accepting Beam.”

And even though crypto is not used for payment too often, he shared,

“Later down the road, we also want to be able to enable businesses to accept confidential currency and eventually be able to pass AML tests for that currency if they desire to do so. So the bigger long-term vision is to create a layer that is the best confidential cryptocurrency, but then allow more layers for people that want that to create some history to also pass AML and present audit.”

During the episode, Zaidelson was also asked why businesses would want to use a cryptocurrency whose value fluctuates, instead of a stablecoin that is pegged to the US dollar. He stated,

“That’s one of the bigger problems in the crypto space, one of the things that’s hurting adoption. Beam is now a cryptocurrency, but the next step in development is turning Beam into a platform, by enabling people to issue other kinds of tokens on the platform, and some of those tokens could be stable coins.”