Bitcoin represents a revolutionary shift in the way that everyone is able to store, spend, invest, and borrow money. Built using cryptographic algorithms, Bitcoin serves as a decentralized ledger that keeps track of all peer to peer transactions made on a distributed network; As a result, Bitcoin has exploded in popularity over the past few years. The potential for this new technology to disrupt current financial and economic systems is indisputable, and is what has attracted the attention of many bright minds and speculators alike.
Despite Bitcoin’s growing awareness, it remains largely inaccessible to many people in the public domain. In Europe especially, regulatory barriers and limited infrastructure prevent European citizens from buying Bitcoin and other cryptocurrencies with fiat currencies.
To solve this issue, cryptocurrency visionary, expert, and evangelist Pierre Noizat founded Paymium with Gonzague Grandval back in 2011.
Paymium was the first European fiat to Bitcoin exchange and currently serves over 170,000 users. Paymium is fully compliant under European regulations and is also certified by external auditors, thus resulting in Paymium’s reputation of having the highest operating standards and values in security, reliability, and accountability.
Paymium further offers payment solutions for merchants using payment processors that allow merchants to accept payments that are made in Bitcoins.
Pierre Noizat, Founder & CEO of Paymium
Pierre Noizat is the CEO and mastermind behind Paymium, a recognized expert in the cryptographic space. He has been working on cryptography applied solutions for digital television services before the introduction of Bitcoin. Pierre has also written several books and spoken at high profile conferences around the world about Bitcoin and Blockchain technology. He holds an MSc from Ecole Polytechnique in France and a MBA Degree from Columbia University in New York.
Pierre Noizat’s Vision Behind Paymium and Blockchain.io
Pierre launched Paymium on the belief that Bitcoin and blockchain technology were the keys to unlocking the ‘Internet of Value’.
The Internet of Valueis exactly as the name portrays it; what the internet did for information, cryptocurrencies and Bitcoin will do it for money and value transactions.
The Internet of Value will allow people to freely exchange digital currencies as seamlessly as one can exchange information over the Internet today, and also bring financial inclusion to billions of people that are still unbanked to date.
Cryptocurrencies represent the transfer of value as a new medium of exchange, as well as a tool for unlocking unique products and services that were not possible before the emergence of cryptocurrencies and blockchain technology.
However, the value offered by these digital currencies cannot be actualized until there is a gateway enabling seamless exchange of cryptocurrencies between fiat currencies or other digital currencies. The ability to transition from the ‘real world’ economy to the digital economy, and from one blockchain network to the next is predicated on solving this challenge in a reliable, secure, and compliant manner under an evolving regulatory landscape.
Paymium provides a mean for users to exchange fiat to crypto and crypto to fiat in a safe, secure, and reliable manner with minimal delays and downtime. Nevertheless, Paymium only solves one half of the equation when it comes to providing a gateway into the Internet of value, which is why Blockchain.io is the next endeavor that has emerged on this journey.
Paymium and Blockchain.io Will Form An “All-Encompassing” European Cryptocurrency Gateway & Exchange
With the work done on Paymium, Pierre plans to leverage 7 years of experience, technology, and knowledge to build Blockchain.io, a next generation cryptocurrency exchange that will facilitate and use the latest developments in cross-chain atomic swaps, cryptographic protocols, and payment networks such as the Raiden and Lightning Network to establish a bridge between different blockchains and cryptocurrencies.
Blockchain.io will address the problem by creating an “all-encompassing” gateway for European traders and investors alike, with Paymium handling fiat to crypto trades, and Blockchain.io offering crypto-crypto trading.
Blockchain.io will serve purely as a Cryptocurrency exchange; In partnership with Paymium, users will have access to a fiat gateway to enter the Internet of Value and exchange cryptocurrencies within this ecosystem.
Users holding fiat (EURO for now, with USD, GBP, and JPY options to follow shortly) that are looking to buy cryptocurrencies will be able to purchase Bitcoin on Paymium. These users may then join and trade on Blockchain.io’s Exchange by transferring their newly purchased cryptocurrencies between both platforms, free of charge.
Blockchain.io will allow for decentralized ‘cross chain’ settlements via ‘atomic swaps’- atomic swaps enable the exchange of cryptocurrencies from different Blockchains without requiring a centralized intermediary, thus reducing inefficiencies and introduces greater flexibility to users to exchange crypto in a trustless peer-to-peer manner.
Leveraging Paymium’s Partnership
Blockchain.io will be built upon Paymium’s advanced trading technology, infrastructure and security protocols — which have been battle-tested and hack free since 2013.
With Paymium’s 170,000 users available to help kick start Blockchain.io’s trading ecosystem, and an additional 40% of proceeds raised being allocated to marketing and development, Blockchain.io’s ecosystem will kick-off with an influx of users to trade and provide liquidity for the Exchange.
With Paymium operating since 2011, its team is highly familiar with regulatory procedures and processes to remain fully compliant. Security protocols are also well understood in how to run a safe and secure Exchange, with the majority of funds handled in conjunction with cold storage solutions.
The relationship established over the years between European authorities and officials, as well as venture capitalists that have funded and backed Paymium will also provide Blockchain.io with greater access and insights to potential regulatory changes on the horizon, and strategic connections to institutional investors and traders.
Paymium and Blockchain.io are paving the way for millions of people throughout Europe and across the globe to access greater investment opportunities, simplify payment solutions, and enter the Internet of Value. We encourage everyone interested in getting on board with this revolutionary innovation and vision to join our platform!