Despite questions about Bitcoin’s future, a new Paris-based startup called Bitit has created a service designed to make it easier than ever for average people to acquire the virtual currency.
Nicolas Katan, cofounder and CEO of Bitit, says the company’s goal is to solve two of Bitcoin’s biggest issues: accessibility and fraud.
“We have a vision to democratize Bitcoin for all,” he said. “Bitcoin is a really great technology. But the problem for now is that it is complicated and difficult for people to access.”
The company’s debut comes amid a big debate within the Bitcoin community about how to evolve the Blockchain technology behind the virtual currency so the system can continue to expand. This schism has some questioning the future of what others have hailed as a revolutionary financial system.
Katan is confident that these problems will be sorted out. In the meantime, he believes as strongly as ever in the value proposition that made Bitcoin a phenomenon in the first place: namely, that it eliminates the need to use banks and credit card companies — that can charge fees for moving money around — and allows for more efficient management and control over your money.
However, the fundamental system can