Cryptocurrency Wallets For Investors #2 – Exodus Wallet Review w/Co-Founder, Daniel Castagnoli & JP Richardson

Tai Zen: Alright guys. If you guys out there listening and you guys here or so let me know so that we can start the interview process guys. Also that it’ll help if you guys can let us know what city that you guys listening in from. It’s always helpful!

Carlo: I’m pulling up to chat right now!

Tai Zen: Short delay and then. Okay, So Richie Rich said the sound in the videos good. They can hear some Nashville, from Canada. All right so it’s going to get started guys.

Alright, guys, this is Tai Zen and a broadcast AtlantaGeorgia and with me tonight guys I have some very special guests I’ll just go from left to right here. We have Carlo. He is a staff member at input-output Hong Kong company that builds a blockchain technology for people.

And he’s been hired on to help assemble and organized the game classic community. And I invited him here. So say hello everyone Carlos

Carlos: Hi you guys and thanks for watching everybody.

Tai Zen: And then next to him, we have the honorable Grandmaster LeonFu.Com. Say hello Leon. You guys already know him.

Leon Fu: By there!

Tai Zen: And then next we have Daniel from the accident team

Daniel: JP’s next.

Tai Zen So is that okay I might see you.

Daniel: Daniel Maxwell, okay.

Tai Zen: Alright, so we’ll have JP next. He’s the chief technology officer for the Exodus wallet software project. And he’s been joining us here today from Omaha, Nebraska. That’s for the great college football teams in America here.

And then we also have here the co-founder of the Exodus- the Chief Design Officer- Daniel. Say hello Daniel other guys

Daniel: Hello guys!

Tai Zen So the reason that many you guys have been following us, you guys know that we usually only interview people, the teams about the Cryptocurrency project and the ICO and the upcoming ICO releases in that point.

But recently through the Factom Headquarter downtown Austin where LeonFu.Com lives, we heard about a project called the Exodus wallet project and they were seeking funding on a bank in the future.

So we decide to look into it to check out what it was all about and we downloaded their wallet, tested it and we really like it, matter fact we liked it so much and we believe that it’s such a big game-changer that we set out to the founders here JP and Daniel and bottom on here.

So that we can pick their brains and get the thoughts and why they design their walls the way they did and why it’s so different from all the other Cryptocurrency wallet out there.

Before we get started somebody has to go first guys. So on my side, Daniel’s on the left so I get to start with him okay. Let’s get a little bit about you guys and what you guys were doing? How you guys came in the project? Could you talk a little about yourself up first Daniel? What you’re doing?

Daniel, I started my first technology in 99. This has been a while ago, I just had my 40th birthday here and we did touch screen for some of the early touch princesses that you guys have seen in public forms like rent-a-cars or airline rentals when you’re not airline rentals but like tickets in airlines are rental cars, things that people interact with like kiosk.

And I built that company up and after the accident that company, I was kind of searching around. This was 2012 I was searching around for my next venture and I ran into Bitcoin and Cryptocurrency.

And I thought it was just amazing, I went down the rabbit hole as everyone does and I soon realized after downloading some of these wallets. I was like I came from a like complete design background at my other company.

I designed for Apple, Disney, Louis Vuitton, Nike, a lot of these high-end companies. And when I came over to the Cryptocurrency space I realized there are no designers, nobody here that designing anything.

So that frustrated me a little bit and that’s how I started thinking I need to be able to build something to bring design and user experience into this space.

JP and I ran into each other through a mutual friend, through the immediate community. And I can let him talk a little bit about the story about how we came together and Exodus started. That was the brief background of myself.

Tai Zen: Okay so what are some of the companies that have you have designed for? Because before the broadcast we talked for a few minutes offline and you mentioned some heavy hitters there.

Daniel: Yeah so my old company was called Nano Nation, N-a-n-o N-a-t-i-o-n. It’s actually still around today. We designed touchscreen software and we were at some of the first touch screen software that Apple sold in their business enterprise.

So I got to design for a lot of Apple partners as well as Apple. Companies like BMW, Companies like Louis Vuitton, companies like Disney like their theme parks.

And those kinds of high-end companies where the design was expected to be at the level that was really high-end. So that was where my background came from.

And that’s why when I came into the Cryptocurrency space, it was very foreign to me that there wasn’t anybody that was reaching that market.

Tai Zen: Was you shot that all the lousy wallet designs that are in the Cryptocurrency community ‘cuz they are lousy. I mean I’m an art teacher, I have an art teaching background so I can say with the high degree of confidence that the majority of these Bitcoin Cryptocurrency wallets have a very lousy design. The Bitcoin core wallet I mean they desperately need somehow.

Daniel: Yeah I mean the beauty of this is like this technology didn’t exist and so it’s like designed by people that created a new revolution and just to have it work at first was kind of a miracle in itself.

Later down the road years and years later, I think people will start to look and realize that wasn’t the best idea to have engineers designing thing.

But you’re right and when I first came into it I had a hard time because I wasn’t really technical and I just wanted something to be easy and I had to get technical real quick. It’s a lot of those foundations laid the foundation for why we build Exodus.

Tai Zen: So would you grab it into Cryptocurrency world because of the poor designer. May I got to fix this problem or was it because of the Cryptocurrency movement in general or was it just a combination of both?

Daniel: It was a combination of the freedom movement because I believed that people should be able to control their own assets. I believe that people should be able to make their own choices and have freedom of those type of decisions.

But also when I came into it I really saw a need, just the clear need for somebody to step up to the place and bring high-end user experience to this platform because I feel like that right now, it’s just kind of exist and computer people that are really into this.

But in order to bring the mainstream, the big market players into this. People that want to diversify their 401(k) and say take 10% allocation and moving into blockchain assets.

You’re going to need something that they can approach and that’s why I feel like we’re bringing some solutions to the table because that isn’t there yet.

Tai Zen: Okay so let’s switch over to your co-founder and your buddy here, JP. So what’s your background JP? How did you get into Bitcoins? And how did you meet Daniel?

JP: I went to the local university here and have an engineering background. I have two engineering degrees and I’ve been Moonlighting businesses since my early 20s.

And in around 2009, when I knew that the mobile app ecosystem would be huge if I start developing IOS app, Pacific sports apps. We had a successful accident 2011 but it wasn’t enough that I could quit my day job and retire forever.

About this time with the financial crisis happening a couple of years before that, I knew that I was really upset because I felt that both parties sold out… and I felt that something needs to be done about it.

And so when I discovered Bitcoin in 2012 I realized this is the first time I can actually take my engineering background. And potentially have an impact on give people control of their wealth.

So what I did? It was early 2004, I decided what needs to happen in Bitcoins so I built a mobile app and the mobile Apple it was called Coin Vault.

It’s kind of funny because I was really proud of it. It was a Bitcoin wallet and I remember I went out to a meetup in Silicon Valley and I was showing some people.

And this one guy told me like: “Wow that looks like a kindergartener design that” and after I he said that like: “You know what, you’re right! It looks horrible. Is exactly like you expected in an engineer designed it? ”

So at this point, I’m like: “Wow if only I could find it designer or somebody to help me out this will be awesome”. The circle came, Coinbase came out, Apple starts allowing Bitcoin wallets on their store and circle and Coinbase to a much better job.

About the same time, I was going to some entrepreneur meetups locally and I met somebody that it was like you’ve got to meet Daniel, he’s really big into Bitcoin. At that point, I might know everybody in Nebraska is in the Bitcoin and I haven’t met Daniel. The guy introduced us and we met, we just talked about Cryptocurrency the whole time.

For the next year while I was still stuck on building this mobile wallet and it’s scrappy ugly mobile wallet. And I was talking to Daniel about Cryptocurrency and we both really enjoyed buying and selling Cryptocurrencies speculative investing. We just thought it was a lot of fun.

But what was really unique is that we discovered that the first time I’ve ever met somebody who had the majority of their net worth in Bitcoin just like me.

I’ve never met anybody like that, I’m like: “Okay this guy is crazy as I am” so we’ve got to do something about accessing to build something.

And that’s why we came to the conclusion as well. You know after Mel Cox, everything is happening; all these exchanges, people losing money, they’re giving up their privacy, LinkedIn profiles.

So we decided that we can build something better and we can take Daniel design skills and my engineer background and we can actually build something to make a difference.

Tai Zen: Okay so when did you guys actually start on this Exodus wallet project

Daniel: I started designing some of the initials sketches in the summer of 2015, I started sketching Exodus for the first time. We’ve been in hiding for a long time making this and JP was talking that I actually got to thinking a little bit that we do hold our net worth in crypto assets.

And I actually still do a spreadsheet that I literally would have to manually calculate as anytime the markets would change, I would have to go through in manually calculate all these positions to figure out where I was that I didn’t know where things were.

Leon Fu: You do that today!

Tai Zen: That’s actually the main reason Leon and I were looking so heavily at your wallet because we are manually keeping track of our investment. And it’s funny that JP said that Daniel was the first time he’s ever met…net worth in Crypto.

Well you just met two more, me and Leon

Leon Fu: I’ll say this it’s not because I put the majority of my network in Crypto, it became that.

Daniel: And that’s what happened to us.

Tai Zen: I was the other way. I did the majority of my network into it and it has also grown to become the majority of my network so I took the other route, you know. Because I was a firm believer that if you believe in some Crypto money where I’m out for that.

Daniel: Yeah we think the same thing, we think we’re building Exodus constantly and we’re making sure that it’s working for what we’re doing.

I can relate you guys cuz I hated opening my spreadsheet, keep them being like Okay, let’s see. Litecoin’s here, Bitcoin’s here and hours Ethereum and then everything has to balance out.

And Exodus is now taking care of a lot of that for me. Now you don’t see our future path in Exodus is going to support, events and things that were hard to do different, charts and graphs because these are things are personal to us, I think that sounds like we have the same titles.

Tai Zen: So now we know how you guys got together for the project and everything. What would you say is the niche market or the target that you guys are targeting or the type of user that you guys are targeting.

Because I noticed that everybody else make their wallets Twitter users but you guys have something little bit different. One is that I noticed that in your videos you talk about having an asset of a portfolio and that you’re the first person I’ve seen that describes a wallet in terms of this is your assets, this is your portfolio.

And you compared to a 401(k) or an IRA and just real quick if anyone that is outside the US. An IRA or a 401(k)  in common are the two most popular forms of retirement portfolios that Americans have in the United States.

So pretty much anybody that works for a Fortune 500 company in America, we’ll have a 401(k) where they can contribute a portion of their income to it. Then the company will match it and then all their money is stored in their savings, stored in that 401(k).

You’re the first person I’ve seen that compared your wallet to a portfolio. You’re not looking at, just a wallet but it’s an asset portfolio of a product that you are investing in and what made you go down that path?

Daniel: Yeah you knew this. The first terminology we talk about is Blockchain assets, we believe in assets. People say that things are coins, we feel like that’s a really short-term view of things.

We believe that people hold assets and you will hold a bunch of assets in your time. When you asked us initially who is our target market.

We want to help people diversify their wealth into Blockchain assets and what that means is we don’t see you buying a coin for instant or if you want to be a trader, you can go and trade coins or trade the things quickly.

But what we see is we’re creating well for generation, we want to have people hold these things for a long period of time. And when you look at our screenshots, you see the major portion we focus on is our portfolio.

Cuz we think diversifying assets is one of the most important things that investors should know. You can’t put all your eggs in one basket and you have to diversify.

An Exodus is geared to allow new users that aren’t used to Cryptocurrency to come in and say “I want to take a 20% position in Bitcoin, 30% position in Litecoin, 10% Windows. You know whatever in the theorem and start to see how that works out as an overall strategy for the long-term.

Tai Zen: It’s interesting that you mention that because one of the things a lot of viewers don’t know is that Leon and I in the background. We actually have an asset allocation model that we use except it’s done. It’s so complicated because we don’t have an easy user interface to share with people.

Because of that even though we broadcast about investing Cryptocurrencies all the time, it’s really hard for us to explains to people over the Internet if they have $1,000 USD or $10,000 USD with a Bitcoin, how much do you put into each Cryptocurrency that you invest in.

And so it’s something that has been really bugging the hell out of us because between the two of us, we understand how to do it through trial and error but to share with somebody else without some kind of visual representation, it’s just too complicated and we don’t want people to screw up and mess it up and blame it on us.

So we just kept quiet about it and never explain to people how to actually allocate a certain portion of their Bitcoin portfolio into Ethereum or certain portion into factum or certain portion into other risky and depends on how risky it is, how to allocate it.

The way that your wallet is set up, it makes us so much easier to do that. No matter fact as we are talking, I’m going to do this so that everyone can see what we are talking about in case you have not seen it already.

What I’m going to do what I want to share my screen with everyone so that they can see the wallet. Okay so as you guys are talking people know what we’re talking about.

Leon Fu: I have a question for you guys. So even today there are hundreds and thousands of Blockchain assets with more coming out every single day. What’s your strategy on how you add the man and how would like if I want to buy Mooncoin or something?

Are you going to update the software every time you want to add a new asset to Exodus? How are you going to make a decision as to what gets included and also what’s a methodology on including you Blockchain assets as them out?

JP There are two questions there. So the first is on criteria to add new assets. The first thing is that it must have a highball trade ball. We prefer somewhere in the top 20 at least a month or so and it also has to be supported on Shapeshift

Like Daniel said earlier that every asset before that we went live but that every asset must behave the same. And so if it’s not on Shapeshift, we can’t have an asset behave differently so it has to be on Shapeshift.

And then it goes along with kind of market demand we will internally and can we make this asset works well with the Exodus. Then the of rest question about how these assets really quickly and how we can do that Exodus and push out updates?

We are advance assets eventually going to have auto-update built-in and this will give a seamless upgrade experience for users of Exodus. They can just say hey there’s an update available, do you want update click okay one click and it’s in its updated and then they would have access to support with the latest assets.

Leon Fu: Okay so if you watch our channel you know that we participate in a lot of ICO and of course, ICO doesn’t have the market and you’re not going to be heavily traded.

Even that Ethereum started out as an ICO so I understand why it has Shapeshift so that it has to be the same. But is it possible for Exodus to look at it like watch-only addresses or just be a regular wallet for these other kinds of accidents methodology so that I think you want the goal is that I can use, I can manage all my Blockchain asset in Exodus?

But there’s going to be many Blockchain assets that don’t fit the criteria that you’ve just described and how do you have a strategy and how you take care of that?

Daniel: So the first primary thing for Exodus today. Remember Exodus was released July 29th of this year so we’re getting to be 2 months in the world right now.

So the very first primary objective here is going to be the easiest most approachable Blockchain asset manager today in long-term.

Exodus will have the ability for other users, later on, we’ll meet open up the application to other people that could build like API or plugins on top of it. People could actually start to plug into Exodus and build their own kind of environment inside of Exodus.

What this allows you to do is for example if you look at Exodus on the left inside there like a bunch of different, like tabs right now. You can think of those like browser plugin so the portfolio is a plugin, the wallet is a plugin, the exchange is a plugin.

Eventually will open that up so users can decide if they want to use Exodus, say they want to create a new Crypto project instead of using maybe Bitcoin-Qt or forking that, they’ll just say we’re going to use Exodus and write a plugin for it and then they could go ahead and do that.

That wouldn’t put the onus on us because the company will do it but it would allow other people to put their assets inside of Exodus. What initially for us to get back to this is that it’s really important for us to be able to let people approach Exodus that never touched the Blockchain asset before and feel comfortable with them.

And once they start to feel comfortable with them, I think we can migrate and get to some of these more advanced users

Leon Fu: So I guess the plugin model like if somebody starts a new Cryptocurrency project because maybe a year or two down the road they get the login and then I could manage it even somebody’s doing like ICO.

Daniel: You can really do whatever you want. JP could talk a little bit about the technology behind how Exodus is built but there’s some really cool things that we’re using inside Exodus to allow other people to plug into that architecture. If you want to dive down that rabbit-hole we’re happy to.

Tai Zen: So, basically what you’re saying is that right now it has those coins but in the future when you allow plugin, other Cryptocurrency teams can plug in and allow their coins to be stored inside the Exodus wallet, is that correct?

Daniel: Yes that would be correct.

Carlo: I just want to chime in and say that’s really cool! Excellent. It’s really good!

Tai Zen: So how secure is that? I’m going to use this as an example because we’ve just interviewed with Chris at Ruth- the founder of the strategist platform, he’s developing the first platform on C Sharp

Let’s say that they don’t have a wallet and they want to use your wallet -the Exodus wallet. Are you telling me that once you guys have all the plugins and everything set up that they can just plug into the Exodus wallet and create the strategist wallet inside? How does that work?

JP: You can think of Exodus is like a combination of a web browser and Cryptocurrency platform. So Exodus actually plugs into all of the peer-to-peer networks with the exception of Ethereum right now but that’s coming.

For every coin network and there’s a layer of code where a developer can say: “Okay I need to grab this peer-to-peer toolbox and plug it in here and all of a sudden. I need to use these HTML web technologies and plug it in here and then bridge them together”.

So you can think of it like I said, like a cross between a web browser and a platform to build a Cryptocurrency and Blockchain asset applications.

Carlo: Yeah I was going to say it’s kind of Chrome Blockchain wallet.

Daniel: Right under the hood we’re using a lot of web technology to push this forward but to answer the question in big terms, we will eventually down the road allow other people to start the plug into this because we’re building the base right now.

You think of this like a Chrome’s building the base of your browser but if you want to add plugins or extensions to it you can do that in Chrome and the Exodus will be the same way. You say I want to add an extension, spell writing the extension for it and it’ll be up to them to support that extension.

Tai Zen:  Okay and how far down the line do you see what happens? Is that something that’s going to happen?

Daniel:  Oh man, that’s a good question!

JP:  I think that’s still going to be away because we still need to achieve the goals of adding more assets, building up the trading, hardware support, outer watch support.

So it’s a little away but we would like to have sometime soon at least have a sneak peek or preview, we can do something minor where you can build, minor extensions with what’s already there.

But the answer to questions of building entire apps on top of Exodus It’s probably at least a year or so away.

Tai Zen:  Early you guys mentioned that right now you’re only looking to have the coins that are accepted by Shapeshift. Now, are you guys doing that for security reason, personal reason, business reason because I know that Erik Voorhees is the owner of Shapeshift and I think the day he’s on the front page of your website-an investor in Exodus.

Is there a bias towards coins excepted Shapeshift because of Erik Voorhees or is there analogical reasoning, security reason? Why you guys will only do the coins right now accepted by Shapeshift?

Daniel:  Initially what it is we need to allow every asset to trade for every other asset. For example, if you have a Dogecoin right now and you go to Pontiac and you decide you want to trade Dogecoin for Litecoin, you can’t do it. There’s no market for that. You have to go to back to Bitcoin and then trade for Litecoin

It’s really important for us to allow the seamless possible so people can just do whatever they want with these assets. What Shapeshift allows us to do is 2 things:

It allows us to have every coin behave the same so if you have a bucket of assets here and they’re worth this much value. I can trade it for this bucket of assets worth this much value.

And there’s no education to talk to somebody about “Oh wait there’s no liquidity in this market” or “Oh wait there are no training parrots here”, “Oh that is gone, it’s taking out the window”.

And then the second thing that Shapeshifts add for us which is this is really important. Access minimizes counterparty risk and what that means it is a really big term and there’s a way to say that; You hold onto your assets and you control them for as long as possible.

So when you’re making these exchanges on an exchange and you’re sending stuff to an exchange, you’re sending them your assets, you’re trusting them.

With Exodus, you have your assets and when you do the exchange there’s only a very brief temporary where you’re saying “I’m going to send these thousand Dogecoins and these Litecoins’s back”.

And there are a few minutes in there where they’re holding your asset. And that’s it, you’re not trusting anybody with anything else. So those are two main reasons why Shapeshifters become a partner.

Leon Fu: Yes but Daniel, the reason we use Felonious because they offer that Shapeshift doesn’t have limit orders and there’s a bunch of things Felonious that’s why we exchange despite all the security risk.

And unless you add features like limit orders and order book and all of the things that Apollonia does and Fidelity and Charles Schwab, all that they do very similar things

Don’t you feel that’s going to limit a docship, that’s why they use decentralized exchanges despite the risks it has the offer?

Daniel: That’s great. You’re taking me right to my next point. I couldn’t bridge this gap any better.

So today Exodus has market orders. If you want to place an order on Exodus, you’re correct. You do it for market value.

The next major upgrades to Exodus and the things that your audiences going to be really excited about, which of the things that JP and I are really excited about is Exodus will support limit orders.

And they will support all these advanced features to be able to do those things but not only that without counterparty as well.

Leon Fu: Okay so how are you going to do that/ how are you going to do a limit order/ like if I say I only want to pay 500,000 Satoshis, for example, I don’t want to pay more than 500,000 Satoshis, how am I going to have that order without you holding my Bitcoin.

JP: Well, we can’t get into the details there but if you just take a real simple like naive approach to that, it’s like a needle inpatient, what you could do is simply have a monitoring service custom sword.

That would monitor market prices and then execute trades on your behalf and you can use some kind of multi sim implementations to retain security on your end.

And how exactly we’re going to do that, I can’t get it in too much details right now but that’s briefly how that would work.

Tai Zen: I’m going to hit the problem before we go any further because it’s been a mind-boggling here. So I just want to explain this to the audience really quick before I posed a question to you guys, okay?

When you guys talk about a counterparty risk what that means is that there’s no middleman cuz right now whenever we buy or sell any kind of Cryptocurrency or Lonny Axelrod, Coinbase for any exchange, the exchange is the middleman.

So if I want to buy something from JP or JP wants to buy something for me, there’s a middleman they’re called Polonius or Coinbase to make the exchange.

In your lunch video, you said that there’s no reason for this change to ask who you are, where you got the money from or where you sending the money to and I really believe in that.

I really believe that, your money is your money that’s nobody else’s business what you do with it, who you sent it to as long as you’re not committing a criminal act or something and if you are and you’re there needs to be an indictment or something or some Subpoena from the court.

There’s no business, you can’t just go in there and assume that somebody’s doing some illegal just because they have money and I really like that idea.

But when you say that you can play limit orders in there without a counterparty, without that middleman in between right. I mean you don’t have to go into the exact technical details. You’re the technology got behind the Exodus and I’m sure you don’t want to reveal the secret of how you’re doing it so it doesn’t get a copy by other wallet makers.

But you’re telling me that you guys are working on it so that when I use the Exodus wallet, I can put limit orders and stop orders and buy orders and sell orders. Is that what I’m hearing? Is that correct?

Daniel: We are working on advanced trading features in Exodus and what does advanced trading features are, it is what you talking about: Limit order, stop orders, those type of things.

We can’t go in 2 tons of details about how we’re going to do this but just from the audience perspective in your question, I just want people to know that when you see Exodus today, you can trade an Exodus with a just market order.

We realize that when we put it together, it was alright with our spit step 1 of getting process but I can guarantee you that when JP and I both make trades, we don’t use market orders most of the time unless we’re trading through Exodus we want quick trade.

The long-term view of Exodus is we want to be able to allow traders to be able to trade assets inside of Exodus and limit their counterparty risk as much as possible but also have these advanced trading features. That’s our big goal.

Tai Zen: So when you guys get that task that features available in Exodus wallet, that means new traders and investors Cryptocurrency no longer need to open up an account with Coinbase or with Polonius or any like that.

Daniel: You gonna take all the business one wallet. What’s going on?

Tai Zen: If you guys are able to do that man, that is going to be a huge game-changer cuz I have several friends, you know my Indian driver?

Daniel: Oh yeah, we have seen him any other video.

Tai Zen: Even my Indian driver, you know he’s like what I told about Coinbase, Polonius and he just rolled his eyes and if I got “Come on. Don’t tell me I got to go through all that just to buy a Bitcoin or ordinal converter US dollar”.

If you’re telling me that someone can just download the Exodus software and install it on the computer within a couple of minutes and put the Bitcoin in there and they gonna buy whatever Cryptocurrency they want without having to fill out a bunch of stupid applications and submitted driver’s license and social security number and everything. That is going to be a huge game-changer in Cryptocurrency.

Daniel: People can do this today with Exodus because of the shape-shift engine powering it you can do this today. We do not touch fiat’s everybody’s clear from an audience perspective if you have US dollars, you cannot put them in the Exodus.

We start with Cryptocurrency only and we deal with Cryptocurrency only. And so you can do this today with Exodus, you just can’t do advance features like Leon was asking.

Leon Fu: I can’t like yours by using Shapeshift. You’re still at this point of time, they are limited by Shapeshift.

If I want to buy 20 Bitcoins worth affect them I can’t do that through Shapeshift because they don’t have to look what it is and they can’t quote me a price beyond whatever their limits are.

Daniel: You’re correct, there’s currently limits associated with it and you’re currently buying everything at market order. So in Exodus today, it’s going to be easy for most transactions but you’re not going to get your best prices. And if you want liquidity and advanced trading features at Exodus, it is not a platform for you to build that worth today.

Tai Zen: It’s really good for beginners though, for the people are just getting into Cryptocurrency then I got to be trading 50 or a hundred Bitcoins anyway.

Daniel:  Here’s an example like my mom wants the thing in the Cryptocurrency. She goes out, she takes $2,000 USD and she gets Bitcoins. She puts it in Exodus and then she just goes like I want this much Dogecoin, this much Litecoin, this much Ethereum.

And she allocates their portfolio and then she just closes it and then just leave it for probably three or four years. And that’s what she did.

Now did she get the best price on any of those trades? No, she didn’t. Could she execute limit orders/ No, she just deserves a spider portfolio on my fault?

So today that’s where we’re at. We painted a picture of a vision of where we want to be but we’re not there yet.

Tai Zen:  Okay. Because I want to let the audience know that I have your Shapeshift in the past and I remember, I think there was a $2,500 USD limit or something like that when I try to do some tests.

Leon Fu:  Depends on what we’re trading.

Tai Zen:  Yeah that time I was trading Ethereum and this was several months or earlier in the year and I’ll try to get in and out just checking to see what the limits worth how much you cannot get in. And that’s won’t let me go beyond $2,500 USD.

Welcome Chuck from Tampa Florida, he’s also from the ATM classic community.

Chuck:  I have a degree in economics. I’ve done a little trading myself and I do hold Bitcoin and other Cryptocurrency so I am very interested to hear and how your wallet differentiates from other wallets.

Tai Zen:  Let me ask you guys this. This is such an obvious problem in the Cryptocurrency world.  Is there anybody else doing it or you guys the only ones doing this or do you guys have the early mover advantage in this Arena?

JP:  I think you see like a bit square least decentralized market place has started doing this but they don’t have the volume that people would like to see.

And I don’t know I haven’t actually ever use bit square so I don’t know why that is or what’s going on. I don’t know if it has to do with user experience but I definitely think that a decentralized exchange with great user experience can really technically to use this technology.

Leon Fu:  I have a question, are you guys afraid of on the surface to me, they seem to be your main competitors because there are dozens of wallets out there and there’s going to be more wallets.

Are you concerned or worried about it? You know, Jax is done by former Experian– Founder Anthony

Daniel: That’s a great question. We actually know Anthony spend time with the mistletoe surround table, we’re friends. We don’t see this as a competitor. To us, the major competitor here is I want to keep people’s asset or exchanges and minimize their way to get hacked.

If there are other platforms here that doing this, I believe there will be other players to this market. So today it’s Exodus, Jack’s actually.

For example, if you want a mobile device, they can sync between all platforms. We tell people today go use Jax because Exodus does not have a mobile play at all, we don’t.

We have a desktop play and we believe people want to hold their portfolio of assets on their desktop. I don’t want to hold my portfolio of assets on my mobile device and care and walk around with it, I just personally don’t.

Now Exodus will have a mobile play later but it’s our area focus right now. So from a competition standpoint, I think those guys are doing a great job but I would actually like to see more people entered the space.

Because Jax’s also has a great plan on design, I mean they have a great design platform. It’s good to your family to support your buddies over here on this list Ethereum classic which we haven’t got to yet.

So I love that there’s diversification in the space because I would actually like to see more. I love Anthony also has a focus on design and we want to help each other get people to protect and own their own assets.

Tai Zen: How are you guys getting users right now because we can see all this but what it comes down to exist. The wallets that are going to success or the ones that get users to users. So what is the game plan or what is the strategy that you guys have for acquiring users?

That’s the first question and the second one how do you guys know that your software- the Exodus wallet tracker? How many users are using it or how many accounts are available on Exodus?

Daniel: That’s a good question. I’ll take the first one and JP takes the second one about the track okay.

So how are we getting users? Our initial goal with Exodus so we worked on it for about a year undercover and we literally put it out July 29th with no fanfare. We posted on Reddit a long time ago I think a month ago to get beta users.

And we specifically don’t advertise, we don’t tell people about it. We just didn’t want anybody to find out about it because we wanted to slow growth. We felt like if we can get 10 users and then just get their feedback would be stoked on life and then we go for 20 years and then 50.

Unfortunately, our idea about putting it out there and just keeping it secret did not go so well and everybody started writing articles people were doing YouTube reviews everyone was sharing with everybody. And so we were grateful for that, it’s awesome. Our user base is grown.

Chuck: Well that’s the Facebook model, right? You keep it secret, you make it appreciate and everybody wants it.

Daniel: I guess that’s true. We hope we could continue to take their feet back and make Exodus better and better before he went out now. Just so everyone knows, we don’t advertise, we don’t go to edit and post and say: “Hey, use it!”

We don’t by any marketing things, we don’t want any huge amount of traffic right now until we get this to a point where we’re just really happy with it.

If you like Exodus and you want to use it or not telling you not to use it. But what we’re saying is we’re not aggressively going after users yet.

Tai Zen: The second question was; is there a way for you to track and monitor how many users are using? How many people are using Exodus?

JP: Yeah so right now we actually wait there’s a backup system in Exodus. What we can do is we can see how many backup files are on the server and just to be clear these backup files don’t contain private keys or anything like that.

They are in Crypto files that contain only transaction metadata like exchange rate, indoor sports. And so we can take account on the number of backup files on the server and that gives us an idea: “Oh okay, there must be this many users using Exodus”.

Daniel: And we have different models of it like I can tell you how many downloads Exodus has but that doesn’t matter to us. Cuz somebody can download Exodus Tino 10,000 times. What we really care about is people storing assets in the product and using it.

And so what this allows us to do is allows us to say: “How many backup files do we have?”. We don’t know who hasn’t, we don’t know what’s in them, we just know that there are this many backup files on this server.

Tai Zen: So here’s something that I notice. A basin what you’re telling me cuz what I was downloading I use it. I noticed that it won’t let you back up any files until you actually deposit funds into it.

And I think at first, I thought well this is weird. I mean like all the other walls let me send points to do it without requesting a backup. In this one does not let you back it up until you actually put some coins in there.

But now based on what you guys said about being able to tell how many people are using it, that makes a lot of sense and actually helps you guys know how many users are actually using it.

Because we can have 10 people download the software what if nobody’s actually putting coins into it and it’s not really using it, just the number of download.

So was that like intentionally done for Marvel eventually done for security reasons or what made you guys decide to take that route where you cannot down a backup your wallet until you put coins into it?

Daniel: We had a long discussion about this, a lot of them. And it was really important for us to have people be able to test the waters first and just be able to see how things work.

So I want somebody to build a download Exodus and then deposit a dollar or something into it and just start to see if it works. We tell all of our users to download Exodus, put a dollar in exchange it, move it around and see if you like it or not.

It allows the person to get you software. But most importantly for us what it really allows us to do is I didn’t want to get on. You know I feel like this and say ‘we have 30000 downloads’. It doesn’t mean anything.

All it means if you have 30,000 people that download your software when we can say our conversion rate so I can say I have this many downloads fine but now I can actually say I have this many people actively using the software. That’s powerful magic.

Tai Zen: Yeah if you guys do it like that by counting the number of back-ups because you can’t back it up unless you actually put coins into it, right?

Then that’s a more accurate count then just a download and so you can actually count how many users are using your software without being like the Court and Court Big Brother NSA type.

Looking over to see how many people actually have money in their account, right?

JP: The backup files themselves are artificially filled with garbage so that we can’t tell that it is a change in size. So that alone cuz if it would say if you have a very tiny backup file. And then you have it and there’s another one that’s larger then it becomes obvious.

Okay this person it’s really using Exodus a lot more than its other person again he’s all these hashes dream like that so we have the backup files are filled with garbage. It kind of inflates those number so is if a backup has a small amount of largemouth we can tell.

And so since this backup files cost resource Is on our end we feel this a fair trade “Hey just put $0.30 USD in excess in Exodus or a dollar in Exodus and then play with it and then back up if you feel comfortable and use the back of resources”.

Chuck: What are these garbage files exactly?

JP: It’s a metadata file that contains encrypted metadata of all the transactions. But when starting out, let’s say if you have 0 transactions, it’s just filled with random numbers, random data. Do we make a file size so you can’t tell on the server if we can’t tell the differences?

Chuck: Yeah that’s a user if you tell me those extra files earrings worn belt. I don’t really think that’s a big deal and I really like the fact that you show a portfolio of all the currencies in my town mod.

You have total. Do you only do that in US dollars or are you doing that in Euros and other currencies as well?

Daniel: Right now Exodus’s only shows prices in US dollars but yes, we will eventually be able to allow you to show in US currencies and other currencies what whatever you want.

Leon Fu: Yeah I have a question. You said since you guys are running your crowd sale banks to the future.

Daniel: It’s not a crowd sale, it’s a fundraising. I think that people know that Exodus is an asset that they can go by. We have people now asking us like can I get into Exodus coin. And that’s not it.

Leon Fu: I think that the term on banks futurism, It’s a convertible note. So that the convertible note says a minimum of 200,000 that you guys have reached. Congratulations!

But then it also says that the maximum is 270,000 and it’s currently overfunded. I think at the moment the last time I checked it was around 270,000.

What does that mean by overfunded? What happened to the extra source?

Daniel: That’s a good question. We had that question too.

So when we went out to it’s a safe note everybody knows, it’s a YC safe notes of you just type into Google, these notes are used for combinator companies a lot of startup companies use them. It’s a total standard play. Feel free to look that up if you’d like to do more research on it.

To answer your question in general I’m how does over funding work. So when we put our platform upon Bank in the future, we had a timeline of what we thought we would get the funds in.

We blew through that timeline so fast and so it got funded and now it’s overfunded. What that means is now there’s overfunded, we actually are giving away more of the company so an investor is not getting diluted at this point.

We will have to actually pull it off Bankhead in the future because we’re getting too much funding at this point.

Tai Zen: What happens if somebody’s listening to this and they go test your software, decide “Hey you know I want to invest in this guys”.

Daniel:  You can’t today and if you want to. I mean I’m not telling anybody doing the best I don’t want to push anybody do that but what I’m saying is that we’re talking about pulling it off the bank to the future. Because we didn’t realize the community would be so aggressive with investing in and like this so much.

So we’re overfunded already and we probably will have to pull it off soon enough be we don’t want to get well. If we double our funding and then we can’t triple it and double it. It’s we’re giving away too much of the company at that point.

Tai Zen:  So what so what prompted you to go out and extra funding? What were you hoping to do? What is that funding for? Is that to hire more developers? What is this funding you guys using for?

Daniel: Exodus was just built by JP and myself. We’re only two people and we were self-funded. And we decided that we wanted to see if the community would like this as a play, as a target to see if it was actually something that people would not only want to use but also put their money behind.

Cuz we feel like there’s two weapons test here. If you use software that’s one thing but if you put it out there and you say ‘hey are you willing to invest in this’, that’s something completely different.

So we wanted to see if the market would take this not only as a user base but also as an investment platform. We now found kind of product-market fit in both so we’re going to use these funds to expand the platform and start to actually get more aggressive on user upgrade. These features will get more employees in Exodus and things like that.

So things are just going to move a lot faster now and we’re happy. Honestly, we’re just really grateful for the community support.

Tai Zen:  Are you guys working on The Exodus project full time, is that the only thing you do or do you guys have a Labor Day job and then you just work on Exodus parttime?

Daniel:  No we both have been working on Exodus full-time for over a year now.

Tai Zen: And did you guys raise money before last year or something like that?

Daniel: Exodus was completely owned by JP and myself and we had a raising no capital up until this Banks to the future point as you said before. Eric Voorhees – the Shapeshift CEO is also an Exodus.

Tai Zen: Does he just an investor or own part of the Exodus of business or how does that work or is that just a private improve the information?

Daniel: Eric took a part of the Exodus investment, he actually had the same investment that everybody else will get on back to the future so if you go invest on the bank of the future right now you’ll get the same terms that we’re not playing any favorites here.

And shape-shift itself is as a company also owns now a percentage of Exodus as well. So Eric owns a portion of Exodus himself privately as a person and then shape-shift itself as a company also has a stay connect Exodus.

The other portions of the exodus are JP and me and then now whoever invests in a bank in the future, that’s pretty simple.

Tai Zen: Do you guy down the line like a year to your downline after you guys get some of these features added to the Exodus wallet? Do you guys see yourself like going out and raising largest sum of money like factoring dead or it was something like that? What do you guys want to series fundraising or anything like that?

Daniel: Yeah it if the market continues to just skip behind us and continue to download this and use this it and just give us great feedback. We believe this could go just a lot further than we ever imagined.

Tai Zen: Do you guys have any social app that uses or the audience knows like what is considered good or excellent in the world of wallet providers?

I mean like if you have 10000 users is that good, you need to have a hundred thousand years reconsidered good. Is there a metric for that.

Daniel: For us, it’s a little different because remember like we’re targeting investors that are trying to hold large assets of portfolios with a high net-worth so we’re bringing people in from the traditional space.

I think what a regular wallet may have, they may target large quantities but we feel like our users are going to be more hiring, want to hold a basket of assets over the long-term.

Personal for us to value in the user is: Are they moving their assets around? Are they trading their assets? Or are they holding a large number of assets?

So Exodus really today is trying to build a trust model. Nobody knows JP, nobody knows me we’re new in this space and we are fully aware of that.

We have some people behind us like David Johnson at Factom just gave us a great quote on that he used Exodus and he thought it was the best Blockchain experience. Erik Voorhees just tweeted out a quote and said Exodus was the best Blockchain experience he’s ever seen.

So been there people that have some trust, we know that we have a lot of work to do. To build up trust real quick in this system.

JP: It’s also not so much about users. It’s more about volume and so deadly volume and monthly volume. So volume is more important than user so people are moving in trading funds. That’s all how we’re going to make our money.

Chuck: For your portfolio where you show how much they have in US dollar/ Do you show the history like as an investor I’d love to know how I’m doing in September compared to how I did in July, how I didn’t make, how I did in January to see if I’m actually growing my portfolio, see if I’m actually doing the right things investing or if I’m losing a lot.

You know that’s one of the things as an investor, an user and I want to keep track, I want to keep the history of my investment and make sure that I’m doing the right things.

Daniel: Today Exodus does not do that but you’re right, I want to do that personally, JP want to do that personally. And so today it shows you your portfolio assets of where you sit at that moment

We are going to add features where you can stay over time this is what your allocation was, this is the event that happened are you deposited. You know, a thousand Ethereum if you’re lucky enough to have that into your portfolio at this point so allocated this much

Again today we knew that so Exodus as its citizens is a real early two months in the world product but I absolutely love to build that.

Chuck: What I mean is it looks pretty good from what I see there so I’m excited to see competition in the space. You know against Jax because it’s nice to have Jax but it’s nice to have a competitor again.

And I think you guys have some other features that Jack doesn’t have, a lot of moment…

And you know what is the timeline for some of these features. I mean what are you planning to roll out soonest and obviously have a lot of features than mine, what’s going to come sooner rather than later?

Daniel: So right now the assets that were working on, we try to keep it under wraps but it’s no longer under wraps anymore. We are working on factum. I’m saying this now and live channel working on factum.

We’re also working on Monero, JP’s been working with the lead developer on Monero. The reason why these assets are inside Exodus yet, this is not because they don’t work, they do work. We actually have private bills of them working today inside Exodus.

Promises that I can’t give them to a user and expect the assets to work exactly the same, Monero was really tough to deal with it the confirmation time so that’s instant, Factum’s the same thing. So we’re working with these asset providers, still allowed an asset to behave the same.

When Factum can instantly tell somebody that they’ve factoids, cool it’ll be an Exodus to be ready rock and roll. I can launch them on Monero wallet and I can just tell you what your balances and you can know what you’re going to send and receive instantly, cool that’ll be inside Exodus as well.

But if I can’t do that, we will hold assets back in and say we don’t believe that. That’s an Exodus’s user experience.

Chuck: A lot of new users if they don’t see their money right away.

Daniel: Yeah, let me make sure that we have to. We don’t cancel the assets we don’t actually like go to an API and say: “Refresh my assets what’s my wallet’ like you don’t have to click refresh in Exodus to see what your balance is”.

We actually directly connected the asset network. So when you send Litecoin, you’re going to see an Exodus boom like one’s going to show up because we’re watching the Litecoin network. There’s no API behind that it’s important to us cuz we’re dealing with people’s money here.

I don’t know about you guys but when I sending and receiving some assets with somebody’s wallet, I literally getting nervous. It’s like in my heart I hope I have this right and that scares the crap out.

Chuck: It’s so refreshing to hear let me tell you. Coming from Ethereum space where makes adult respect devalue money so much.

Daniel: Yeah there’s a lot of times when I had missed open that I was like literally doing like prayers and I was like okay I hope this goes to the right spot.

I want to bring up some since you brought up the fact of Amanda, Monero. I guess I Carlo wanted to speak to you or ask your opinions on Ethereum classic. What you guys think of that moving forwarded?

JP: Essentially for Ethereum classic we’ve held off on it because we don’t want to confuse our users. And so Daniel like we have this debate going back and forth and how we can do it a user-friendly way.

And in what that would require is people were using Exodus before the hard fork so they’re going to have Ethereum and Ethereum classic already. We need to provide a friendly way to bridge that over into Ethereum classic.

And then also when they’re receiving Ethereum and say somebody sent them a transaction and got relay on both network, Exodus need to pick that up on both network. It is user experience challenge that we’ve got to figure out. And we’ve just replaced the priority on Monero in factum at this moment.

Chuck: Let me ask you a quick follow-up. Have you release Ethereum classic that during the hard ford people had Ethereum then they immediately had both.

JP: You don’t have any control tool release, we don’t control the private keys so when people ask us “Hey how do I get my Ethereum private” and I tell him how to do it but we don’t have the control to actually release the thing classic.

Carlo: I think that’s an important point you brought us also about the wanting to avoid the confusion in the branding and stuff like that because personally I can’t speak for the entire community but my personal opinion, Frontier and classic I posted this before, on Reddit, I talked about in the slack channel.

You know for a potential rebrand in the future so it’s interesting to hear that opinion from someone that’s not in the Ethereum classic camp but a separate entity all in some.

Daniel: I would personally love to support Ethereum classic as long as our users are not confused and they don’t have that, it will get a lot of support request.

And remember like a lot of wallets today are targeting the Cryptos space. You’re in the Crypto space you understand what this is. But a lot of Exodus users or people that are just touching Blockchain for the very first time.

So I need to be able to explain the differences between those two but we’re excited to talk to you guys and I also wanted to bring out the potential.

Carlo: I also want to bring up another point about really we were talking about market limit orders and stuff like that and I think the speaks a lot to what you guys are doing anecdotally.

I think a lot of the country, people that are involved in 401(k) and stuff like that. You’re not really going to a whole lot of limit, they just kind of allocate the resources accordingly and I think it’s an incredible market you guys are tapping into.

You know, most of the country most of the world doesn’t day trading limit order anything. They just kind of put money away for later and Shapeshift and what you guys have going on is a perfect thing for that.

So I think the vision you guys have is really excellent and limit orders are a great idea as well but If down the road you guys don’t end up implementing it, I don’t see it as too much of a fault that I think you’re really going after the mainstream. All the limit orders would be great but if you did not do that, I don’t see this much of a fault in my opinion.

Tai Zen: If you guys want to add the Monero the factum and then the game classic. I’m just gonna assume that you guys going to do it. I’m going to put this out there if you guys are listening to this and you own a deer in the classic, I would quit the hell are these guys.

Carlo: Also you guys alright you guys are pretty aligned with the way we generally do things. You have heard a lot of building about the strong foundation and slowly growing from growing a large user base and that’s kind of the approach that If your classic is going to take work, foundation first security, first platform.

And we’re trying to grow a movement in the same way that you guys are going so I think we’re pretty alive with how we thinking the road that was taking moving forward, so it’s nice to see other people are into that Cryptocurrency

Daniel: It’s great to meet you guys as well and talk about the possibilities.

Tai Zen: I think that the best way to convince these guys that you want the Jam classic in the wallet, in Exodus deposit neither classic on there and back it up so they can see that there are more users. That’s the easiest way, don’t just download it.

The reason why brings this stuff guys is; when they listen to this you know they’re not going to be happy when you guys add factum and Monero and Ethereum classic.

Daniel: Why not?

Tai Zen: Because it’s going to take assets off for their exchange. The key is that right now, my Factom is stuck at Colonia and they can use that alone and out the other people

Daniel:  As long as that they’re watching this, maybe they should call us and we can talk about how we can get Exodus working with their engines

Tai Zen: They should definitely check it out because I’ll even tweet out to them so that they can go. Because I don’t like the idea that I have my assets on Polonius, I don’t have a place to save historic. That’s the reason why I’m pushing forth it to be on there.

Right now I’m using Myetherwallet.com, the store my ether classic and I can see nothing until I hit the send button. Now I know the other days, thanks to Carlo and Chuck they told me that; there’s an Ethereum classic wallet, that’s available by Elena, that’s available out there.

Before that, I didn’t know who that was and I didn’t know it was reliable so I just stuck with the Myetherwallet.com and distorted on there even though it is forgetting the game classic down there.

But it can still be used, you know how bad I don’t recommend that to people because you can’t see the coins that you have on there until you hit the send button.

Chuck: that’s a great point. You know, one of the reasons I haven’t gotten Monero, I haven’t got factum is I listen to the advice of other users and they tell me don’t hold the Cryptocurrency on an exchange unless you going to trade it.

And you know If I can’t hold back them and Monero on anything other than an exchange and for Monero I think I need a whole note, that’s going to take me a whole day to download. You know as a beginner user nobody wants to do that.

Monero has brought out a GUI yet, you know. So just making sure I but as a new user, it’s nice to know that there are new wallets coming out for other Cryptocurrency. Because factum is one of the big ones and even as an Ethereum classic user, we looked at them and there’s very interesting Cryptocurrency that has some similar features and it’s nice to see the other ones to diversify one’s portfolio.

You know, I’m the biggest Ethereum classic guy obviously. If I had large Cryptocurrency holding, I would definitely diversify into factum.

Carlo: I was going to say as well I think the more towards mainstream Crypto becomes, it really lends itself to the platform you guys are creating so I see a lot of growth for Exodus in the future. What you guys are setting out? I’m pretty excited about it.

Tai Zen: What would you guys see like to wrap up this interview with you guys to know where you give us just an outlook like 5 years, 10 years. You don’t down the line with where do you guys see The Exodus wallet. What can the user expected to see in there?

JP: I’ll just say that Nasdaq New York stock and Dow Jones were coming for you.

The long-term goal is for people to be able to trade any financial asset and because we believe that any traditional financial asset will move over to a Blockchain and become a Blockchain asset. So once that happened we will be ready and access will be that platform to trade and store manager portfolio.

Tai Zen: So most people know in case they don’t, like Leon and I promote a lot on this channel things tools in the technologies, in the strategy and help the little guy.

When the account attention when I saw your lunch video where you said those words resonate with me and when you said that: “Hey, whatever you do with your money is your business shouldn’t be anybody else’s business”.

No government or no person should comment that what you doing with your money, were you sending it or receiving it right.

I hope that you guys stick to that concert. I hope that you guys fix my Philosophy note principal and because if you guys keep the pace you’re going, more than likely the Nasdaq with the New York stock exchange, the Chicago Board of Trade, somebody’s bound to see what you guys are doing.

And if they want to step into the Cryptocurrency space more than likely to be easier just to buy you guys out. I hope that you guys don’t sell out the little guys man to the guys on Wall Street.

Daniel: We have pretty firm beliefs in our moral values on what we believe that people should be able to do with their assets and I can tell you that the reason why Exodus was born is that for example, I want to pass my assets on to my family through my own in a safe environment

And I want to be able with Exodus to pass my children and my future children, my wealth that nobody else should be able to see manage or even know what’s going on.

Tai Zen: Okay so if you guys have any questions I will take a couple of minutes here. If you guys have any questions from the audience for JP or Daniel, you guys can put the questions into the chatbox and tell what city or country that you guys are from, we’ll take those questions.

Do you guys have any other questions Carlos, Chuck, Leon?

Leon: I’m good thanks. I got to run here.

Tai Zen: While we’re waiting for the quest just to come in, what is the best way for someone to contact you guys?

Daniel: They can reach us on Twitter, I mean we have all of our contact information on our website. We have phone numbers on Exodus, If you call that phone number JP and I’ll answer on our mobile device “Hello, hi, what’s going on?” right to us so there’s plenty way.

Chuck: What is your Tweeter handle, by the way?

Daniel: It’s Exodus_io

Tai Zen: If people watching this down the line, they want to get involved with the Exodus wallet project. Are you guys looking for developers? What specific talents are you guys looking to join your team to help you with the socket development?

Daniel: One of our first goals is If you want to come join us in Exodus, you have to hold some of your worth in Blockchain assets. We strongly believe that. We don’t want people coming to work for Exodus because It’s just a fun sexy quiet for me want you too kind of practice what you

If you do that we absolutely are looking for talent, JP will talk about it.

JP: I’m going to say that the company is probably one of the best ways to gather a group of people of like-minded individuals that believe the same thing and actually make a difference in this world.

And so like Daniel said you have to have skill in the game, you have to believe in Crypto and Cryptocurrency and if you don’t and you just want to develop on a cool platform, we would probably not the company for you to work at.

Chuck: That’s nice to hear a little missing to leave with the Cryptocurrency and so you guys pay employees in Bitcoin, I would imagine 100%.

Daniel: No, 100% in Bitcoin

Chuck: Awesome. That’s great. I’d like to hear that.

Daniel: In fact just so you guys are funding in Bitcoin. We had opened a bank account with Bank of the future because it was one of the requirements for sign up and we literally like we operate our entire company without a bank account, what are we doing here?

JP: But we will have some funding in US dollars but most of it is in Bitcoin and so we will run a company primarily on Bitcoin.

Chuck: Okay that’s nice to hear because developers that are going to believe in the platform. You know their governments that will pay developers on the side till building back door.

And if you have developers that are willing to be paid in Bitcoins, I think those people are not going to fall for that type of primary.

I had to say that’s a concern. Do you have anything to worry about but I mean that’s a small concern as an investor, as a user or any type of program or app. And I always scrutinize any app or platform that I use personally.

I never got involved in the Dow because I read the terms and condition. One of the terms and conditions was you could do everything so I was like “Nope, no thanks”.

Carlo: Something I want to bring up for you guys also, as far as the marketing and limit orders are concerned, I guess less on the development side of things in the Blockchain world and I’m a little bit closer to the mainstream audience.

I know a lot of people who are starting to get into Crypto or interested in Blockchain if they go on these exchanges like Polonius or whatever it is. And they do market orders and sometimes set to your point, they have to trade into Bitcoin just to get into something else.

And I’m seeing that more and more sometimes be close to the mainstream with a lot of this. Something like Exodus would actually be helping them save even handsome fees there.

Also, a lot of these guys there are interested in these altcoins there, as far away from the expert trader as you can get. So when they do these market trades to BTC and then try to get into a smaller, all going as soon as they try and buy a little bit, the bot starts bidding it up.

So I think for the mainstream I’m really seeing the beauty in the platform. I am really like it, hope you guy best luck.

Tai Zen: We have a couple of questions coming in the chat boxer. One of them is from Josh Joshua from North Carolina, right up the street from where I’m at right now. And he says why would I choose Exodus over an established exchange?

I’ll answer that real quick and then I like to get your feedback on the Nancy and from you guys also.

The big difference between using Exodus to established exchanges is that you don’t have to provide any identity. You don’t have to give up your driver’s license or social security number. You don’t have to give up who your name or anything you.

You just download the software, send Bitcoins to and once the Bitcoins are there you can buy any Cryptocurrency, exchange it for any Cryptocurrency you want using the shape ship engine.

So if you are somebody that does not want to reveal your identity and give it up to somebody just to be involved in Cryptocurrency. The only downside is getting the moment that it does not allow you to do that with a large volume bike if you were trying to get like 10, 20, 50, 100 thousand dollars worth of Cryptocurrencies. You still have to go through the exchange for that.

Daniel: I think that’s a great idea. I couldn’t say any better myself. I think that there’s two different places here in some people may we even want to trade or exchange and we’re okay with that too.

But use the Exodus to store your assets, remember the whole goal here is like: “Don’t keep your assets on exchange”. We’ve all seen this time and time again, it’s going to keep happening.

Central storage of wealth creates a target for thieves and it’s never going to change and that’s always going to be that way. So if you can protect yourself, whether you’re trading on an exchange or not, try to limit your risk.

Even if you don’t use that Exodus, we don’t mean obviously we want you to but we don’t care. We’d rather have you just pull your assets off-exchange, use anything but just don’t keep them on exchange.

JP: Right cuz we all saw what happened with the… I mean, if I’m wrong within every account to lose 30% into the customers paid for that hack and so next is not acceptable. And using Exodus to protect it from now.

Tai Zen: Do you guys have anybody auditing your wallet like you’re new on the scene and everything how can the users be confident that your wallet is secure and it’s safe that you guys planed it to be.

But I’m not a technical person so how would I know for sure that your wallet is safe insecure like you guys planed.

JP: We’ve had one insecurity audit today. We’re just wrapped up about a month ago. I actually haven’t asked the individual or the company if I can publish that you had to publish their name.

But we have had one and we would like to have another one before the end of the year early 2017. So we’re going to have regular security audit.

Daniel: And some of the same reasons why we talked about earlier like slowly growing our user base. We don’t want to come out and just claim that everything, roses, and lollipops from the beginning.

We believe in the slow growth user base and we’re trying to protect as many people as possible so overtime this will get better. You see big names behind Exodus so you know that you can trust it from that play.

But again we are new on the scene and we’re fully aware that we have to build reputation and trust.

Tai Zen: There’s another question from David Patton here. He asked when the Exodus wallet will feature-packed.

I know we asked you guys early but I don’t know there was a deadline of the timeline because I think that a lot of people that’s trading factum on Colonial. I’m sure they’re anxious to get their Factom off the exchange of into a safe wallet.

May you guys have a projection the timeline or you guys want to share with the audience or are that something that’s hush-hush.

Daniel: We get this question a lot and everybody knows we have a slack channel too. That we ask or answer a lot of these questions in that you can come in and talk to us in real-time.

The factum needs what’s called milestone to be done. What milestones provide for Exodus is with the cauldron. So this is a long-winded way of saying that when I send you factoids right now, you don’t know for 10 or so minutes you got that factum. And we won’t put back them in Exodus yet until you can instantly know you got factoids.

Once milestone still done in factum is signed off on that. We will go ahead and integrated into Exodus so I would love to tell you a date and when I talk to the factum.

Unfortunately, I can’t speak for them and I feel uncomfortable giving a date for something that isn’t my responsibility. I hope that makes sense.

JP: Factum is working inside a private build of Exodus today. It’s just like we need milestones to public test net so we can start testing these receipts. And then when they release milestone to the public main at then we will as well.

Daniel: Factum is doing a great job of making this release like as stable as possible and when walking slow and we respect them for that. So we know that when it comes out.

Everybody’s fully aware to we’ve been talking the factum and been tightly integrated them since February of the beginning of the year.

So since February, we’ve been working with back then to get this integration where it needs to be so when it comes out you can be assured that it will be just as solid as any other Exodus assets.

Tai Zen: Well that’s all the questions I have. I know that prior before we restart the broadcast you guys told me you know the timeline that you have to do this broadcast so I want to respect that.

Do you Chuck or Carlo guys have any last questions before New York came here

Chuck: I don’t know if you guys answered it before but regarding the security, how do you guys make the private keys as a user? How am I assured that you guys don’t have a browner private copy?

JP: Yeah we’ll look like anything the best answer is that you are not a hundred percent, just like when you downloaded a bread wallet or if you download a bread wallet clone on the App Store despite the fact that it’s open and everybody can go see the codes, people still got their money stolen from them.

You can’t be 100 percent but I guess given that we are trying to build a business here and we are a formal Delaware C corporation United States, you can find where I live, it just really stupid skill in the game you got.

Daniel: One thing this is from the beginning in every single video, every single thing, that we’re doing JP and my faces is in every single thing. So if something were to go wrong with Exodus

Chuck: You’re gonna on the jail.

Daniel: That’s it.

JP: I’m not asking people to use Exodus and just to trust me. I am saying if that makes you uncomfortable “Do not use Exodus”

Tai Zen: Usually what I do is an interview with a Cryptocurrency developer. After that Leon and I will usually do a price prediction on that coin after we interview the interviewer.

But since you guys are not a coin, it’s really hard to do a price prediction on you guys because there’s no coin and no price on the coin. So this is the prediction that I have for you guys and I’ll do it here instead of a separate video.

Based on my experience with the Exodus wallet, I project that within 2 years experiences or even shorter anywhere from six months restoring the begin 2017 within a year or so, I predict that there’ll be the larger company that will come in and try to buy you guys out.

I can’t put a price on it on your project so it’s simply because there’s no coin that’s being traded and I’m a technical trader. So if it’s alright we can be charted, I would never give it a projection.

But I see somebody like; Coinbase, Blockchain, Info possibly BitPay they have their copay wallet which is very good. Are you guys plan on including a multi-signature wallet insider Exodus.

Daniel: We haven’t talked about that only because remember for new users multi-sig really confuse people. But we actually do use copay internally. So sweet, we love that!

Tai Zen: So I project and predict that you guys are based on the quality of the software that you guys are putting out. I see somebody coming in and make an attempt to buy you guys out. And they would be one of the other Blockchain company that’s already in existence that has enough money.

The reason why I said Coinbase is because they got those 75 million dollars from the New York Stock Exchange or in the outside Cryptocurrency space. For example like those banks that are involved in the R3 stabbed consortium, I can see one of the banks looking at what you guys do and If they want to step into the Cryptocurrency space, it was easier just to buy you guys out.

Buy you guys out, enter starting from and then just bring you guys on just how you guys old time to get to work on it and then just fun you guys to do with the way that you guys wanted and then appoint to that fact.

That would look into it just hedge fund managers like Crypto hedge fund manager so the guys were very silver, you know what type of people. They need software like that so that they can manage the assets for their client or for themselves. It’s just so much easier than just using a spreadsheet.

So once you guys get that I can see a lot of big traders and investors getting involved, that’s my projection for now. A Blockchain company or a bank or a hedge fund is going to come in and I’m sleepy guys up man. So that’s my price projection prediction or what’s going to happen with the Exodus project.

All right guys. I just want to say, thank guys, this has been a fun and awesome hangout and it’s the first time that we actually interviewed anyone of our channel about your wallet.

I want to say this before we’re wrapping up guys. This whole time we’ve been talking about a wallet to store your Cryptocurrency because I still seeing a chatbox, people think about we’re pumping Exodus as a coin

Exodus is a wallet that stores your coin, that is not a coin. Is that an ICO, there’s nothing to buy, no coins to buy.

Chuck: Let me tell you how impressive to hear because finally another little coin not to buy, just kind of getting ridiculous with all these coins.

It’s really refreshing to hear you guys of the slow growth model, not the lips go fast. Here in the office especially when it comes Cryptocurrency which is money. And you have to respect money and I don’t see that enough in Cryptocurrency. And it’s nice to hear from you guys.

Tai Zen: To make it quick clarification I’m not here to pump Ethereum classic why some of the trolls out. I’m and the other guys here because we all want a reliable wallet store Ethereum classic coin.

Also wanted for factum because I don’t like the exchange so that’s my final say, so if you guys don’t like it, click the unsubscribe button.

Joining us on this video guys. If you want to more information and follow Carlo, he’s on Twitter as Iohk_ Carlovetc

And then if you guys want to follow Chuck, it’s right there on the screen. And if you guys want to follow the Exodus co-creators and co-founders, you can follow them at Exodus-io.

And thanks for joining us on this video broadcast guys. If you guys like it give us a thumbs up if you guys don’t like it give us a thumbs down and what are things that you guys can show appreciation.

Once I get this video concluded, take the link from it and posted on your Twitter and then take a shout out to the Exodus at Twitter handle. So don’t know that you guys enjoyed it okay.

So this will conclude the broadcast and thanks for joining us guys

Chuck: Wish you the best of luck really.

JP and Daniel: Thank you guys we appreciate your time.

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