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A crypto a day

Time for the use of cryptocurrencies in everyday life - Marzio Panelli

Marzio Panelli

Marzio Panelli

Despite the rapid development of cryptocurrencies, there is still the general perception that cryptos will only affect specific businesses. In reality, will the effects be felt within all sectors and by all manner of consumers?

I believe that cryptos are no longer relegated to technology experts or traders for speculation – the time has come for the use of cryptocurrencies in everyday life. For example, with our mobile app Ivyn Digital Currency you can get paid and instantly pay for your coffee at bars accepting cryptocurrencies via our app.

What best example of how cryptos can affect all consumers and businesses?

Regular consumers are still wary of using cryptocurrencies, probably because of knowledge gaps. Who will address these gaps – the industry or the regulator?

Both are key factors for the adoption of cryptos in everyday life: while the regulator will create a secure ecosystem for the consumers, the industry will seek to provide the consumers with the best and easiest user experience.

The prime motivation is the engagement of the government, regulators and authorities

Is the number of merchants accepting crypto payments increasing locally and at a European level?

In Malta we have already 20 outlets accepting payments in cryptocurrencies with Ivyn Digital Currency and the number is increasing every week. In Europe we have already seen some suggestive examples like Rovereto in the Trentino region, which was the pioneer city in Italy to create a network of shops accepting Bitcoin. Another good example is Zug in Switzerland where you can pay even city fees up to 200 SFR.

Your mission statement states that you will “Bring cryptocurrencies into everyday life in an easy way.” How do you plan to do this?

With our mobile app you can pay and get paid instantly by scanning a QR code. This really facilitates work and play because you don’t need to have a plastic card and a POS – all you need is your smartphone.

What fuelled your decision to set up business in Malta?

The prime motivation is the engagement of the government, regulators and authorities. Malta has showed in the past to be a visionary country in adopting and regulate new technologies.

Furthermore, we are interested in the adoption of our payment solution by the iGaming industry.

In a very loud market, what is Ivy Digital Currency app’s unique selling point?

So far, I have seen interesting projects and have heard a lot of announcements about futuristic disruptive solutions. On the other hand, Ivyn Digital Currency is a reality and already live. You can send and receive Bitcoin and Ether instantly as of today – it’s an easy way just like using euro.

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