Aryl: The Wallet Designed to Make Cryptocurrency Easy
The greatest barrier to the widespread adoption of cryptocurrency is a problem that all altcoin users have experienced: cryptocurrency is both hard to use and slow.
Buying cryptocurrency and exchanging it into fiat currency is both frustrating and cumbersome. Many people give up on cryptocurrency after finding out how hard it is to use.
People used to fast and easy-to-use financial applications like Venmo, Apple Pay, Alipay, and Tencent Pay give up on crypto because it is so confusing. Rubius’s Aryl app is designed to solve that problem by making cryptocurrency transactions as fast and as easy as sending money via PayPal’s Venmo.
Aryl is designed as the Venmo for Cryptocurrency
Aryl gives users the ability to send, receive, or request payments in fiat currency, Ethereum (ETH), or Ethereum-based ERC20 tokens within the application. This will include Rubius’s own ERC20 Tokens — the Rubius (RUBY) coins.
When using Aryl, users will have direct access to decentralized Ethereum wallets which can store thousands of different cryptocurrencies. Aryl users will also get direct access to Rubiex, a centralized exchange & trading platform for crypto-assets. That will allow for the fast conversion of both altcoins and fiat currencies. People that want to access a web-based version of the exchange will be able to do so at www.rubiex.com.
The key to Aryl’s success is the Volatility Shield feature which is designed to make cryptocurrency transactions as easy as pressing a button. The Shield feature will automatically convert currency for you by accessing the Rubiex exchange API. That will save time and money by eliminating the need to make a new transaction every time a payment is received or made. It can also limit losses due to market volatility.
Additionally, Aryl will let you connect with friends and family quickly via a social media interface similar to Venmo. You’ll be able to easily import your contacts from Facebook and other social media sites.
Rubius’s long-term plan is to include a secure messaging feature inside the Aryl app, making it similar to Telegram. Once the messaging feature is added, you’ll be able to send payments to friends directly in your chat conversations.
Venmo is growing like a Weed
Rubius is building Aryl and adding the Volatility Shield because social media payment solutions like Venmo are capable of incredible growth. Venmo’s payment volume nearly doubled in 2017, rising from $6.8 billion in 1st Quarter 2017 to $12 billion in 1st Quarter 2018, Statista calculated.
Venmo is growing like a weed because it is easy to use and consumer-friendly. Venmo, like Aryl, was designed to make sending and receiving money as easy as sending a text to a friend.
The success of Venmo is based on the ease at which it can be used by real people in the real world. Rubius CEO and founder Joseph Rubin’s vision for Aryl is to duplicate Venmo’s success in peer-to-peer (P2P) payment with the inclusion of cryptocurrency.
Aryl’s Decentralized Features
The key to achieving Rubin’s vision is the decentralized wallet and exchange features that Rubius’s team will build into Aryl.
Aryl will contain many advanced wallet features, including the ability to create new Ethereum wallets. Aryl users will be able to store the key pairs to any number of wallets directly on their iOS (Apple) device. They will be able to view Ethereum (ETH) and ERC20 token balances in every wallet and change wallet passwords.
The user will be in complete control of the decentralized wallets, simulating a virtual-version of your physical purse or cash wallet. You will control your own funds and finances. The issue of trust is eliminated, because the Rubius team will not have access to your decentralized wallets, and all of Rubius’s products and code will be open-source, available for anyone to audit and scrutinize.
Other advanced features planned for Aryl include Rubius Smart Escrow (RSE), which is an Ethereum smart contract that only releases funds to specific individuals that are pre-selected using your in-app contacts. The RSE will be implemented into a later version of the Aryl app, projected for early 2019.
Another similar feature will be the Rubius Smart Loans (RSL), which are loan agreements created using Ethereum smart contracts. The RSLs will be for small loans between friends and family. Individuals will be able to create RSLs in the Aryl app and will have the option to select an arbitrator from your contacts for added security.
The Aryl and Rubius Vision
The ultimate goal of Aryl is to create an app that allows individuals to perform many banking transactions through their smartphones.
Such an app is critical to Rubin’s ultimate vision for Rubius, which is to create a New World Bank. Unlike traditional banks, the New World Bank would be able to serve anybody anywhere via a smartphone, including the 1.7 billion unbanked[1] adults around the world. Those individuals are often trapped in poverty because they have no access to the banking system.
The unbanked cannot borrow money, receive remittance money from relatives working in other countries, make purchases online, or operate businesses, simply because they don’t have access to electronic financial solutions. However, in many cases, unbanked individuals do have smartphones, they just don’t have access to the right software due to the trust-dependency of traditional banking.
Aryl is designed to be the gateway to the financial system for the unbanked and everybody else, just as the internet is the gateway to communication.
To learn more about Aryl, Rubius Inc., Rubius coins, and Rubiex, please visit:
rubius.io/rubius-whitepaper.pdf
Chat with the Rubius team on Telegram:
References:
[1] https://rubius.io/rubius-whitepaper.pdf
Disclaimer: Rubius Inc. is not yet registered as a bank and does not intend to register until after the Rubius ICO. The Rubius (RUBY) cryptocurrency is not an investment vehicle, and Rubius Inc. makes no promise of an increase in value. If you have any questions, please contact the Rubius team at info@rubi.us.
