Cryptocurrency is cool, but you know what’d be even cooler? If people used it to buy things.
That they don’t because it’s either not secure or hard to use is a problem that a growing number of founders is trying to tackle. Among them is Merit, a new digital currency that aims to be as simple to use as traditional payment apps like PayPal and Venmo and that officially launches today.
The idea is to make it easy enough for to use to split a bill, share the rent, or shop for clothing online, even for those who are completely crypto illiterate.
Naturally, Merit is facing a daunting uphill battle, but that isn’t dissuading its founder and CEO, Adil Wali, who previously cofounded the indie womenswear brand ModCloth. (To the chagrin of some of its customers, ModCloth sold to Walmart last year after several rounds of layoffs.) Wali has since started two more companies, and he’s clearly not afraid to see where an idea takes him.
This particular idea, which Wali and nine other full time employees are working on from Seattle, involves a few interesting facets that could potentially help the currency gain traction.
First and foremost, …read more
Source: Tech Crunch