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Flip realizes the original Satoshi vision

Published by Christian
Friday 08 December 2023 13:49

Flip is a payment app made for simplicity, built on the original Satoshi vision of decentralized money. It is made for one purpose and one purpose only: Enabling easy payments, without sacrificing the core value of decentralization. Flip doesn’t have a sound business model from the start, it doesn’t pretend to let you «invest», it doesn’t control a «Flip» token, it never controls your money – it is built on a belief that a great product will spread by itself, and that «Flipping» will be a verb for payments in the future. Inspired by products that have led to cashless societies in the Nordics, Flip lets you send decentralized cryptocurrency to a phone number, unlocking the viral spread mechanisms that underlie broad adoption of new payment systems.

Bitcoin was created to enable frictionless payments with decentralized money. But it is not easy to use as a means of payment. This might have hindered its adoption, and has also led to development of centralized institutions that were never part of the original Satoshi vision, and that, quite frankly, are worse alternatives to the existing financial sector. Flip is an attempt to find a new direction, and to unlock the enormous productivity gains inherent in being able to transfer value without friction, without relying on a centralized organization. Flip pledges to always be free, and expects to be one of many companies in the future simply enabling the use of true decentralized networks for transfer of value. 

The original vision of Satoshi was that of decentralization of control. The development of crypto has moved towards centralization and speculation for the last few years, but that trend is likely to turn due to recent events demonstrating the vulnerability of an immature and unregulated industry. More than 85% of cryptocurrency owners never move their crypto from the exchange where they bought it. That is not adoption of cryptocurrency, it is speculation, and it is based on trust in centralized exchanges. More than 10,000 new cryptocurrencies and tokens have been launched just in recent years, of which more than 90% are controlled by individuals and organizations.  

Flip is hopeful for a brighter future for the broader cryptocurrency universe, a future in which the core function of transfer of value is solved also in practice, making it possible to build sustainable business models for the future. 

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Flip Company
Postboks 1847 Vika
0123 Oslo