Cryptocurrency centered financial companies are getting pretty fancy. Vancouver-based Newnote Financial recently evolved from a resource exploration company, Winrock Resources, to financial and technology company focused on integrated platforms built for cryptocurrencies.
Ever since, the company’s developers have been furiously working on a number of unique new projects. To kick off the ambitious integrated platform, it recently launched a national television campaign, a first for Bitcoin-minded North American companies. It bought up 200 slots on Business News Network, a Canadian television channel that feature the following advertisement:
I spoke with Newnote Financial CEO and founder Paul Dickson, who has a background in financial applications, and has been programming software since he was 12 years old. He got his start in the Bitcoin world when it started to gain traction in 2013. Newnote Financial offers an integrated platform, giving customers access to a variety of services. Customers might set up an account on the upcoming Puretrade.ca Bitcoin exchange, for example, but have access Newnote’s cloud-hashing service, its ABMs, CryptoAid, and Bitcoin gift cards.
The cloud-hashing service is currently in beta testing, but is expected to launch in the next few days. Cloud-mining is not anything new, but the service provides unparalleled flexibility for customers, Dickson said. Rather than sign up for inflexibly contracted six-month plans, users can sign up for a period of time at whatever hash rate. For example, a curious client could test out the service for two days at two gigahash.
Dickson was particularly excited about CryptoAid, a charitable cryptocurrency built from the open source Bitcoin code. “Users can vote in real-time on whatever project they’d like to see –whether it’s a from a kid who can’t afford school or a large-scale crisis in the Philippines.” They are almost done programming the back-end that allows a first round of voting on a “manifest list” of charities. With each mined block, miners reap somewhere between one and 50% of the released currency. The remaining proceeds are donated to a random charity on the manifest list. Down the line Dickson is intent on separating the currency from Newnote Financial and establishing the CryptoAid Foundation “so it will no longer be operated by a for-profit entity.”
The company also aims to help businesses develop their own marketing cryptocurrencies with Vanity Coin, in yet another demonstration of altcoins unforeseen potential. – Soda companies, for example, could place QR codes at the bottom of their cans of pop. These codes would transfer points to the user’s account. Customers could trade the points they accumulate “kind of like hockey cards”, Dickson said. It also provides a platform for brand related coins whereby fans or customers can go to an online or retail location and redeem their points at the merchandise stands.
Newnote Financial offers the perfect small-scale illustration of the current state of the Bitcoin ecosystem, which consists of a chaotic assortment of projects. Many Bitcoin companies are simply streamlining common services, like Newnote is with cloud-hashing. A lot of energy is put into making cryptocurrency use more user-friendly, so people with little knowledge of the inner workings of Bitcoin can use it without a second thought.
On the other hand, the Bitcoin protocol nurtures a number of game-changing projects. Bitcoin developers intend on disrupting everything from our method of contracts to mobile banking in Africa. Newnote is contributing its own novel projects, like cryptocurrencies in a marketing setting and a charitable altcoin. But Newnote wants to bring it all together, to give users the ultimate experience. Lamassau ABMs, Bitcoin gift cards, the exchange, and other services will all run on the integrated platform. Hani El Rayess, the Newnote Financial Vice President of Marketing, told me in an email, “We are developing many things that we aren’t even talking about yet.”
In these circles, the Bitcoin age is treated as an inevitability. Newnote captures the excitement and preparation for the expected massive adoption to come. “We’re not going backwards now. Cryptocurrencies are here to stay,” Dickson said. “There’s no other instrument that can transfer wealth within seconds.”
Last modified: May 8, 2014 01:13 UTC