By Seimin Kuan

1. Cryptocurrency –
the future of payments
Seimin Kuan
Managing Director, Wirex APAC

2. Introduction – Seimin Kuan
• Managing Director, Wirex APAC (ex-
Japan)
• Accenture UK for 9 years as Strategy
Consultant
• Strategy development and
international expansion for payment
and tech companies in Asia
(Singapore and Hong Kong)

3. Introduction - Wirex
- Global Blockchain personal finance platform
- Established in 2014
- Global leadership: 1.5M users in 130+ countries
- Awards: winner of Phoenix (EU) and FinSum (Asia)
- Team: 160 people London (HQ), Tokyo, Singapore and Kiev
- Transaction volume: more than $1.5 BN
- Backed by financial institution (Softbank/SBI Group)

4. Market overview

5. Market Cap > $ 500 BN

6. Bitcoin price

7. Price Stays Strong
+$9300 +$5000 +1600%
Bitcoin price Since September 2017
+$760 +$500 +4000%
Ether price Since September 2017 Since last year
Since last year

8. Cryptocurrency
benefits

9. The most traceable currency in the world
All transactions are recorded on the blockchain

10. Fight ransom

11. Good for micro transactions
Micro payments is an essential part of IoT

12. No chargebacks
Bitcoin transaction is irreversible

13. Excellent for cross-border payments
Cheaper and faster than traditional instruments

14. People don’t use crypto!
Why?

15. Challenge 1

16. Poor Adoption
Number of merchants that
accept bitcoin payments
0.3%
Challenge 1
The exception is Japan

17. Bitcoin
Payment
Card
Solution
Challenge 1

18. Multi-currency card
Bitcoin account
Ether account
ATM
Exchange
USD account
JPY account
POS/ePOS
Transfer
Balance
1.0 BTC
100 ETH
1,000 USD
5,000 JPY
Wirex VISA card keeps all user’s funds, traditional and cryptocurrency
Challenge 1

19. Blockchain Limitation
VS
193 Tx
sec
1667 Tx
sec
4 Tx
sec
20 Tx
sec
Challenge 2

20. Lightning network
Using a network of these micropayment
channels, Bitcoin can scale to billions of
transactions per day
Solution
Challenge 2

21. Lightning network
Instant Payments
Lightning-fast blockchain payments without worrying about block confirmation times.
Security is enforced by blockchain smart-contracts without creating a on-blockchain
transaction for individual payments. Payment speed measured in milliseconds to
seconds.
Challenge 2

22. Scalability
Capable of millions to billions of transactions per second across the network.
Capacity blows away legacy payment rails by many orders of magnitude. Attaching
payment per action/click is now possible without custodians.
Instant Payments
Lightning network
Challenge 2

23. Low Cost
By transacting and settling off-blockchain, the Lightning Network allows for
exceptionally low fees, which allows for emerging use cases such as instant
micropayments.
Instant Payments
Scalability
Lightning network
Challenge 2

24. Cross Blockchains
Cross-chain atomic swaps can occur off-chain instantly with heterogeneous
blockchain consensus rules. So long as the chains can support the same
cryptographic hash function, it is possible to make transactions across blockchains
without trust in 3rd party custodians.
Instant Payments
Scalability
Low Cost
Lightning network
Challenge 2

25. Wirex payment network (W-Pay)
A multi asset off-chain liquidity network, enabling ultra-low cost instant payments on a global scale
Instant global
multi-currency payment
solutions
Zero blockchain fees,
gateway fees, or customer
chargebacks
Fully-automated trustless
blockchain environment for
M2M payments

26. Salamat!

27. Keep in touch
Seimin.Kuan@wirexapp.com
Get the app
@wirexapp