The TCS: Convert Crypto in One Click
The SIRIN LABS R&D team has created a protocol to seamlessly exchange between tokens, we call it the Token Conversion Service (TCS). We’ve recently published a video of the TCS in action. If you haven yet watched the video, here’s the gist: to make a purchase that requires SRN on your FINNEY™ with only ETH in your wallet, currently, you would need to go to an exchange, buy SRN for ETH, and then go back to the website to finalize your purchase. What we have done is simplified and streamlined this process.
The TCS can, in real-time, perform all the necessary transfers and transactions needed to make a purchase using a coin you do not currently hold in your wallet. This service works in the background of your phone in order to facilitate a purchase using cryptocurrency in a mobile environment. The significance of this development is monumental and worthy of attention.
It has always been the position of SIRIN LABS that one of the largest hurdles to creating mainstream adoption of blockchain technology and cryptocurrency is the user experience. Similar to Linux, cryptocurrency and blockchain, in its current form, is entirely manual. You need to understand exactly what you’re doing, and how to navigate the appropriate sites (Etherscan, MEW, etc.).
A novice couldn’t sit down at a computer, easily purchase cryptocurrency, and then use it, regardless of the platform. For those of us who see crypto as the future, this poses a huge problem, namely, in order for cryptocurrency to succeed in the long-term, it requires mass-adoption, but the average person has no incentive to learn how to operate on the blockchain in its current form, and has no interest in committing the requisite time needed to do so.
Our Founder and Co-CEO, Moshe Hogeg, has been preaching for quite some time that users shouldn’t need to understand the technology to enjoy it. When a teenager gets their first smartphone and uses the GPS navigation, they don’t know how the phone is able to provide them turn-by-turn navigation to get them to their destination. Nor do they care that the amazingly advanced piece of technology in the palm of their hand is able to seamlessly communicate with satellites in geosynchronous orbit around the Earth. All they care about is that it tells them the correct directions from A to B. The average person doesn’t care how the technology works; they care only that it does work.
This is the vision behind both the SIRIN OS and the FINNEY smartphone. To give each and every person simple, streamlined, and intuitive access to cryptocurrency and the blockchain, while maintaining the necessary security needed to keep stored currencies and transactions safe.
The goal for the SIRIN LABS FINNEY™ phone is to allow any person to pick up a device, use cryptocurrency, and operate on the blockchain completely intuitively, without ever needing to know details such as which blockchain is being used, or how many places after the decimal are needed is a — which is why we’re so excited about this new development. The ability to simplify and provide an incredibly streamlined user experience is a major step towards creating mass appeal for both cryptocurrency and blockchain.