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Andre De Castro: Let's Think About Bitcoin Beyond Cryptocurrency

The founder of Blockchain of Things aims to multiply the use functions of the Bitcoin blockchain.

The company Blockchain of Things offers an integration layer for developers and non-developers alike to build applications on the Bitcoin blockchain. Andre de Castro, founder and president of Blockchain of Things, joined Roundtable in Miami to discuss the technology and its applications for Bitcoin innovation.

De Castro explains that Blockchain of Things adds to Bitcoin’s functionality, allowing developers to build on a blockchain that is known and proven to be secure.

“If you were to build the blockchain yourself, you would need a tremendously large community to vet out all of the code and ensure it's really secure,” he says. “It’s also important to the Bitcoin community because they realize now that it's not only value transfer or storage of value. There are companies emerging, like our own, that is pushing the functionality of Bitcoin from a utility perspective. So now the Bitcoin blockchain's value goes beyond simple monetary value storage.”

De Castro explains that Blockchain of Things makes developing on Bitcoin more seamless.

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“The idea is that a company who wants to build an application and use the facilities of Bitcoin doesn't necessarily want to hold the cryptocurrency itself. So we abstract all of that out,” he explains. So to use our platform, you use this concept of credits that you buy with dollars and underneath the covers, we're managing all of the information and the Bitcoins needed for the transactions, but the corporations never have to deal with that liability or hold the coins."

Watch the full discussion below:

Roundtable Guests:

Andre De Castro, Founder and President, Blockchain of Things