On May 18, 2018, the blockchain firm Coingeek hosted its inaugural Coingeek Conference held this year in Hong Kong. The event was filled with movers and shakers from the bitcoin Cash (BCH) ecosystem, alongside hundreds of BCH supporters looking to change the way the world’s money works.
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Coingeek Conference 2018: Spreading the Word of bitcoin Cash Adoption in Hong Kong
wrapped up its that aimed at spreading the message of the many benefits BCH has to offer. The event was held in Hong Kong, at the luxurious Four Seasons Hotel, and had a wide variety of industry innovators from company’s like Purse.io, Bitmain, Yours, Centbee, Handcash, Nchain, Lokad, bitcoin.com, and more. Moreover, attendees listened to keynote presentations from , Jihan Wu, Dr. Craig Wright, , Joannes Vermorel, Vin Armani, Steven Bower, and Jimmy Nguyen among many special guests.
Lorien Gamaroff CEO of discusses better wallets and payment solutions. What consumers and merchants need for a bitcoin Cash world.
bitcoin Cash Powering Online Commerce
The event kicked off with Nchain’s Jimmy Nguyen who discussed the latest Nchain BCH-focused endeavor called ‘Bcommerce.’ Nguyen’s talk called ‘A Bcomm World: How bitcoin Cash will Power the future of ‘Bcommerce,’ got the crowd fired up over how BCH proponents plan to spread mass adoption. The concept of Bcommerce aims to provide a global payment system on-chain, with low commission fees, and fast transactions. Nguyen details how the firm is researching and developing on-chain techniques for bitcoin Cash, security improvements, better user interfaces and APIs, and most of all merchant adoption.
Compared to Swift — It is Wonderful to Use Cryptocurrencies as a Payment Method
After Nguyen’s speech on Bcommerce, the Coingeek crowd was greeted by the CEO of Bitmain Technologies Jihan Wu. Mr. Wu’s presentation called “The Future of Crypto Economy and bitcoin Cash,” described how proponents can further bolster BCH adoption. Mr. Wu also discussed the subject of initial coin offerings (ICOs) likely in part because BCH may have the ability to produce colored coins soon. Mr. Wu detailed to the attendees that ICO’s have become a “buzzword” and some for the wrong reasons.
Bitmain Technologies CEO Jihan Wu talks about the future of the crypto economy and bitcoin Cash.
Furthermore, Mr. Wu said many ICOs are misleading and the cryptocurrency industry should “work closely with regulators instead of working closely with lawyers.” Moreover, Mr. Wu with bitcoin.com’s Roger Ver, and Nchain’s Dr. Craig Wright and explained how a giant tech company like Bitmain found significant flaws with the Swift banking system. As far as customers using digital assets for payments Mr. Wu thinks it is great and far more efficient than Swift.
“It is very wonderful to use cryptocurrencies as a payment method — Basically our customers go to the banks and say they want to wire $1 million dollars to Bitmain and they can say no — You need to give them a reason, you need to give them a contract, and this and that,” explains Mr. Wu.
But with bitcoin Cash you can wire the money as you wish as long as you control the private key — And the money arrives instantly and we can ship out the next day.
bitcoin ABC’s Amaury Sechet: Working to Increase Scaling Further
Following the discussion with Mr. Wu, the Coingeek crowd was greeted by the Lead developer of bitcoin ABC, , who detailed his technical vision for a global payment system. Sechet explains how bitcoin Cash is continuing towards the original roadmap that Satoshi Nakamoto laid out in his .
bitcoin ABC’s lead developer, Amaury Sechet discusses continued BCH scaling.
The developer continues by explaining how BCH can already handle Paypal scale volumes, and for cheap network fees. After the BCH developers completed a successful upgrade just a few days prior, Sechet reveals to the Coingeek audience that they are “working to increase scaling further.”
Cash follows the roadmap laid out in the original whitepaper.
Purse is Launching a New bitcoin Cash Implementation Called ‘Bcash’
Attendees at the inaugural Coingeek conference also heard from Nchain’s Dr. Craig Wright who in a presentation titled ‘bitcoin’s Atomic Age.’ Participants heard from Centbee’s CEO Lorien Gamaroff and the exciting BCH wallet they are working on. Joannes Vermorel the founder of Lokad about how proponents can overcome eCommerce hurdles with bitcoin Cash.
Purse.io announces native BCH support.
Additionally, Coingeek attendees from industry leaders such as Alex Gut of , Vin Armani of , Angela Holowaychuk of , and Steven Bower from .
Purse.io also announced a new BCH implementation called ‘bcash.’
Bower told the crowd about a new bitcoin Cash client that will be released shortly called ‘Bcash’ that’s similar to implementations like the ABC, BU, or XT clients. Alongside this, the crowd was pleased to hear Purse.io is using BCH for native support. Overall the spirit was high in Hong Kong at the 2018 Coingeek event, and everyone who attended was quite optimistic after the successful fork a few days ago.
Did you attend the Coingeek Conference 2018? Let us know your thoughts on this event in the comments below.
Images via bitcoin.com, Mike Malley, Marcel Chuo, and the associated logos and companies pictured.
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In 2017, the cryptocurrency space experienced a profound uptick in mainstream awareness and growth. As part of that consumer demand for our services increased by 40x and we experienced transaction volumes in November and December of that year that grew by 295%. We viewed last year’s unprecedented growth as an opportunity to analyze our systems and build a plan to ensure we’re providing the level of service to our customers that meet the highest standards for support.
We have been laser focused on improving the service experience for our customers and as part of that effort, I shared a to address the most pressing operational issues that were interfering with our ability to scale our customer support to meet demand. Today, we’re sharing the progress we’ve made and where we’ll go from here.
Over the last 90 days we have:
Increased our support team by over 150%Decreased our average time to first response to < 10 hours for 95% of incoming volume today.Because of these measures, we are able to resolve issues faster and have decreased the backlog by 95%
Increasing capacity to meet the demand: In addition to helping our customers resolve any issues they experience with their account, we also spend time helping them understand digital currency. We needed to hire more people to meet the growing demand for support and education.
We now have over 600 support agents working on our queues across three different locations and we offer phone support 24 hours a day, seven days a week.We will be opening two offices dedicated to support — one in Portland later this month and a new office in Europe at the end of the summer.
Tackling the backlog: As we , 2017 was a year of rapid growth for the industry. This led to many customers experiencing long wait times from our support team. In order to quickly solve these outstanding problems, our engineering, product and support teams worked side-by-side for 10 days to tackle our backlog and prevent reoccurring issues.
Working this way allowed us to close out 40,000 tickets over a five day period. Despite a continued and steady volume of tickets coming into our systems from customers, our backlog hit record low volumes in March.Today we continue to see our average time to first response and first resolution trend downwards and our total volume of escalations are down close to 80% overall.
All that being said, our work is never done. Here’s what we’re working on next:
Published Service Levels: Over the next 90 days we will baseline and publish our committed time to resolution so our customers understand the bar we are setting for ourselves to deliver fast resolutions to their issues.Additional Channels: In addition to phone and email, we will launch social media and chat support later this year.Revamped Help Center: We will be updating our Help Center by the end of the year for better ease of use, more educational material and a simple way to contact us.
We will continually communicate the steps we’re taking to improve our service and keep you posted on our journey.
As always, thank you for being customers.
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