Link to the interview:
Paul: Thank you for tuning in, this is Paul Madore reporting for cryptocoins news, with Jenny Goldberg on the line. She’s the Bytecoin community leader and she’s here to talk to us today about what’s going on with Bytecoin and they have got something new coming out, and to talk about some other things and Jenny How are you?
Jenny: Hello Paul, I’m very fine. How are you?
Paul: I’m Well, thank you. So earlier this year there was an exploit in the Cryptonote protocol., I know the whole thing has been resolved and its not a thing to worry about anymore, but I was hoping to get you to address that because it hasnt really been fully spoken about in the media much, so if you could just give us a little bit on that.
Jenny: Yeah about the exploit, I’m not qualified in the technical parts a lot, so that’s why I can only give you any professional IT comments, but what I am going to tell you is that Bitcoin, the other cryptocurrency is a complicated developments as any other developing organisms sometimes they are a pure sandbox. And during the exploit there was only 3% of the total amount of Bytecoin and I know thats not a really big amount to really worry about. Of course it wasn’t good but the issue was solved. Thats what I told you about the exploit.
Paul: Alright, very well. So tell us about untraceable tokens.
Jenny: Yeah, we put all our efforts to develop a wallet integrated solution that will allow anyone to create your own Bytecoin based token. I guess it’s very very important to develop improvement program, and it will be the first completely untraceable token created under the cryptonote protocol and this tokens will be based, we will become embedded in Bytecoin wallets and other clients using the same protocol. That means the users who are willing to create your token will get already developed user-friendly ecosystem relating to their tokens, which will be very useful for them. And, maybe you have read our blog, there will be some technical issues about it, some features at untraceable payments and ring signatures and an unlinkable transactions with random data by the sender.
Paul: Okay, so that’s interesting. So if tokens are untraceable, how you can still verify the amount of coins in this system and everything is correct right?
Jenny: Yeah.
Paul: Okay, that’s how ring signatures work, you dont have to know who is authenticating just that this thing is true and agreed upon. That’s what I know anyway from an analytic perspective. It’s very high level, very advanced technology that Cryptonote is based on.
Jenny: That’s right, That’s right.
Paul: Bytecoin being the first implementation, I don’t think anyone is surprised that it’s experienced the first problems and luckily the others get to learn from it and Bytecoin continues on.
Paul So what else is going on? What else do you have to tell us about, I heard something about a lightweight wallet and some other software coming out.
Jenny: Yes, that’s true. We have published our official road map and there’s knowledge, I got the message today from our community development that they have finished the web wallet, and now we are testing it, and yes there are some bugs. I guess we’ll fix it and maybe after tomorrow we will release our first web wallet that we created together as a community, and It will be official for Bytecoin users.
Paul: Very good. so that’s very soon and interesting. What else is going on?
Jenny: The most I can tell you about is the marketing strategy, and as you can see for the past few weeks me made great work. A new road map, and working for Linux which is very important.
Paul: And HitBTC as well correct?
Jenny: Not really, see it was their issues, and yeah it will take a while to salvage it. And it will take our whole community, and I want to thank every user who uses their efforts to help us, and of course in the future if you ever have any big ideas on how we should develop. First we are going to develop our Bytecoin brand, it’s a very important thing, and we are already in the process in building the reliable partnership and corporation. We are going to move mostly to the e-commerce, where people will be able to buy different things using only Bytecoin. It’s a very important thing for the ecosystem because now there’s almost nowhere where you can use Bytecoin.
Paul: So you can create a situation where people are only able to use Bytecoin, which would possibly increase the value.
Jenny: Yes, that’s my main idea. We will separate the different exchanges. Also a different online store, and maybe not only online I hope. And what else? We are going to create several things like T-shirts, bags, cups. I have got a lot of requests about it from our community, and I guess it’s very important for them to “touch” their coin if you know what I mean.
Paul: Sure.
Jenny: And I guess the best way for that is to create the art and everybody every person will be able to have a T-shirt of their favorite coin.
Paul: Alright, well is there anything else?
Jenny: Well we have further plans as today’s information about podcasts, as I have got a lot of questions from the community for our team, and I guess it will be important if most of them are answered and my main idea is to create something like a podcast, we will release one in two weeks. And the idea is the community will ask questions and the most up-voted and the most popular top 5 questions will be answered. It may be as technical as marketing, any question they would like to hear.
Paul: Alright, very good. That sounds like a good idea.
Jenny: Yeah. but our main goal in marketing, is our national marketing strategy, and now we are looking for a national community manager. We are going to start with Singapore, China, Korea, Japan, Spain, and America because we will feel very strong support from that side.
Paul: Nice, So what about Venezuela or other places where they are experiencing inflation, what about Bytecoin there?
Jenny: We are on protest and we will do whatever to keep high interest in Bytecoin for sure, allow no exception. But as I will tell you the region from where we should start, Singapore, China, South America, Spain, Korea, but I guess we haven’t reviewed the community in India.
Paul: That’s a lot of people as well, so it could be a powerful network effect for the price of Bytecoin and the use of Bytecoin. I mean it’s totally imaginable now that Cryptocurrencys outside of Bitcoin even Ethereum or Litecoin would be accept. People will make their own Ethereum tokens and whatnot. It’s totally imaginable. So Bytecoin plays a role, Bytecoin and all other cryptocurrencys have a chance to seize the chance while the day is high.
Jenny: Yeah I guess we are the generation who already accepted Cryptocurrency. There are already shops in America by various different interesting staff using Bitcoin, and I guess in the future it will happen to Bytecoin, at least we are working on it.
Paul: Sure, especially if Bytecoin is able to offer their own tokens since a Coffee shop could give out tokens as a gift card or whatever.
Jenny: Yeah sure, that’s a good idea.
Paul: Well alright it’s been good talking to you Jenny Goldberg, this has been an update on Bytecoin, perhaps we will do another one later in the year to check up on the project. How does that sound?
Jenny: Yeah that’s good thank you, it was really nice to talk to you.
Paul: Alright, have a nice day.
