LONDON, June 3, 2019 /PRNewswire/ -- One of the most vocal complaints about Bitcoin from users and the old-fashioned financial institutions alike is the unwieldy address format - a long, random string of alphanumeric characters needed to send and receive Bitcoin. Money Button CEO Ryan X Charles, in *collaboration with other members of Bitcoin Association, has solved this issue for the BSV ecosystem with Paymail.
The original Bitcoin (BSV) has already proven it can – right now - scale to transaction levels close to VISA and has shown real, everyday utility. BSV is now making everyday use even easier by dispensing with the need for cumbersome Bitcoin addresses; now sending Bitcoin is as easy as sending email:
- Paymail is a new identity protocol for Bitcoin that removes Bitcoin addresses from the user experience
- Paymail uses actual names that look exactly the same as email addresses
- Paymail addresses are much easier to remember, write, type or tap into a phone than Bitcoin addresses
- Paymail can be used by any exchange, service or application that sends or receives BSV
Plus: Paymail is not just for sending money:
- Included in the launch of Paymail is an extension for sharing public keys for use in digital signatures and encryption
- Paymail exists now: Money Button has fully implemented and launched Paymail and the implementation has been tested to be interoperable with the ElectrumSV and HandCash wallets. Centbee wallet also plans to implement it.
- Paymail is compatible with existing identity systems, particularly Gmail and other popular email services, so that businesses and users have the option to transition seamlessly to use Bitcoin BSV without altering their existing identity system.
Simplicity converts, barriers divert
Bitcoin Association Founding President Jimmy Nguyen comments: "We congratulate Money Button and other Bitcoin Association members for their collaboration on this outstanding achievement in simplicity. Paymail is another example of how BSV is the Bitcoin ecosystem most focused on global adoption by users and businesses."
*Paymail was designed and developed collaboratively by nChain, Money Button, Handcash, Centbee, and ElectrumSV for the benefit of the entire Bitcoin SV ecosystem. It emerged from a workshop of Bitcoin Association, the leading global organization for Bitcoin business, which supports BSV. Paymail is available under the Open BSV License and free to use for any application on Bitcoin (BSV). Paymail was announced at the CoinGeek Conference in Toronto, on May 29.
SOURCE Bitcoin SV