PayBase is a platform for trading PayCoin, exchange symbol XPY, as well as a portal for much more. CCN was able to speak with Josh Garza on the PayBase and PayCoin launches to go over what to expect.
Could you tell CCN about the rollout of PayCoin and PayBase and what customers can expect?
Tonight you will see the first merchant integration with Amazon search and shopping within PayBase. You will be able to purchase directly from within the platform. This feature is the first of its kind. We are bringing out other features in stages. Rolling it out slow to keep from overwhelming the platform. We learned from the past of just turning it all on at once and getting overloaded. Demand is always high for our launches. The trading platform between XPY and BTC will be coming online as well. Each step is being rolled out carefully so we can meet expectations. The launch is going to be huge.
PayCoin and PayBase have been several months in the making with a heavily anticipated lead up. Could you tell us about that and how things have gone so far?
There is a lot of moving pieces. No coin has ever launched with the support of PayCoin, and this has made for a lot of extra work. The community has been great. The best way to tell how the industry is doing by the numbers. During the mining phase, the hash rate was there because people believed in what we are doing. It is very evident. You can see on the exchanges PayCoin is doing great as the top traded coin. This is all before PayBase has even launched. It is also a small amount of the coins moving only about 50k total PayCoins. There are a huge amount coins in the wild and people are holding them. We can conclude people think there is something to it all. People believe in it, and we are not going to let them down.
PayCoin has risen to $12 and without the PayBase support mechanisms in place and that shows the belief in the project. It is great to be at this level without that in place and see how stable it is. People are already accepting it for payment and more coming.
It is a good thing to see how stable it is and no real pump and dumps. When you average the value line out, it is straight and amazing. This is all a prelude to the future and what it is going to look like it is amazing. We are doing this in an industry that bad news seems to be out there all the time like other companies going out of business or disappearing. We are showing the way things can be done. We know we are doing it right, and so do the people. By this time naysayers were predicting our demise, and we have shown them they are wrong by doing things the right way. There is a very much a level of sensitivity that paints a negative view of the industry as a whole. We are doing what we can to change that for everyone.
You recently acquired Coinswap exchange and have called out other companies to innovate and do better as you will be acquiring more companies and services and offering them for free. The move is very aggressive. How do you see this proceeding and do you think your competition will be able to keep up and grow as well to keep the industry healthy?
I have a lot in store, and I hope they react in an innovative way, and it is a wake up call to go and do something more. It is a lot like the broadband industry. I used to travel and speak about how to teach small broadband companies to understand how to remain competitive in the bigger market how to compete by innovating. We worked hard to prepare people for that. Some companies exist with no real competition in this space and do nothing, and I want to see if they can do better. That is great. I think by providing more it can add extra value. Coinswap will allow us to support more Alt-Coins as well as PayCoin and Bitcoin.
Until now very few companies are innovating and looking beyond their core business. BitFury is one that is looking to do more and in a bigger way like GAWMiners. What are your thoughts on that?
BitFury is a great company who has their stuff together and is doing well. They are run by a great team. When I look at the competition, I don't do so from a traditional business model, but from the point of view of who is trying to help the industry as a whole. We are a new industry and need to grow it just not come and make a couple bucks and leave. It is like selling water in the desert. Who can bring water to the desert consistently not just someone who comes in sells some water and leaves. Some companies are doing great things, and that is great. We need more of that and will try and get that done.
Josh and GAW have faced criticism as well, with some calling the project a scam and more. While CCN has not been able to find proof of these accusations, they have not ceased. GAW and Josh have responded each time by continuing on. Josh addressed the naysayers as well when talking with CCN.
With a big PayCoin launch and PayBase now launching what do you say to the people who still call GAW a scam and ponzi?
We can look to PayCoin as a barometer of what the public thinks of us as a measuring stick. We have been criticised on everything happening inside a bubble, and now the coin is out there. People are seeing it exceed in the market, and you cannot fool the market. We have changed many of the doubters. PayCoin's success is a great benefit to us, and we need to stay in top shape. It has changed from being just us and our customers to the world. The coins success is proof of that. PayBase brings more of that success. The number one thing that debunks the Ponzi scam is that I could cash out and walk away now today and leave it. So many other alt-coin creators do that. I'm not I am investing and doubling down. All of our employees PayCoin is in escrow for them. I am making sure there is not going to be able to be one person to say we did one thing unfairly. We will kick butt by doing things by the books. Try explaining to your wife why we still cannot use it to make money after eight months of this business. For better or worse I have my integrity, and I will not compromise on it. I will not go down that road.
Even though it is allowed to enjoy our spoils we will not do that until we know we have done it right and are at the right point. It is one big amazing goal we are trying to get to. How cool will it be in the future to see what we did and without breaking rules and in the right by our customers and the world. There is no scam or worse and our actions are showing that as well as our results. That is the way to prove them wrong by doing it and doing it right. We are.
People are eagerly awaiting the PayCoin/PayBase debit card. You have stated that the trials were going well. Do you have a rough date when they will be rolling out to more people?
We are finishing up the last regulatory features, but it is closer. We are working hard on making sure it is all proper and streamlining the process to have it done soon. We will let you all know as soon as the last parts are done.
You have put the customers first time and time again and ask them for their input on everything from logo to features and directions things should go. How has this allowed you to evolve as a company and personally as a CEO who is in direct contact with your customers each day?
It is very challenging to get that right. You can take it too far and it can both ways to the extreme and we have to be careful to draw the line and we have been challenged in getting it done right. Our community knows they are involved and know they have input. When decisions are made we do this with confidence. The voting platform in PayBase is an extension of this interaction.
I am excited about what we are all doing and keep moving forward it is just so amazing. You are going to see a lot more focused changes now. We have done big things now it is going to be more of tuning things now that the base is done. We have gotten so much done in a short amount of time. Now we are getting off the roller coaster people will see it all coming together in a big way. Everything will be calmer and will grow steadily instead of big leaps. We are all on the cusp of an amazing step forward, and it is all thanks to our customers and now people of the world who believed in our vision. Thanks for that trust. We won't let you down.
Josh and GAWMiners have evolved in the Bitcoin and Cryptocurrency industry. Starting from selling hardware to now launching PayCoin, and PayBase introducing a simple way to use your cryptos to buy things on sites like Amazon with more to come. Josh has always been approachable by his customers as well as his detractors never backing down. PayBase, with the ability to shop Amazon built in, is huge. PayCoins' value through PayBase being pegged at a floor of $20 gives holders a huge amount of buying power. We will keep track of how it all comes together and bring you the info.
Images from GAW and Shutterstock.
Last modified (UTC): December 31, 2014 9:09 AM