Founders: Roy Sheinfeld, Roei Erez and Yaacov Slama
Date founded: 2018
Headquarter Location: Distance Learning
The amount of Bitcoin held in Treasury Breez Lightning nodes: Dozens of Breez Lightning Holdings
The number of employees: 11
Website: https://breez.technology/
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Roy Sheinfeld said the time for orange pilling is through.
Sheinfeld is one of three founding members of Breez. The company provides software development kits (SDKs) for institutions that want to use the technology. Bitcoin Lightning NetworkThe’s believes that although education is a great way to bring people on board with Bitcoin, this won’t drive the adoption of the cryptocurrency. next Wave of Bitcoin Users
“I was orange pilled. You were probably orange pilled. Everyone in the Bitcoin ecosystem right now was probably orange pilled, but I don’t feel that the circles are expanding, and they’re definitely not expanding fast enough,” Sheinfeld spoke to Bitcoin Magazine. “What drives adoption — what drives change in people’s behavior — is technology.”
Sheinfeld – a software engineer by profession – is determined to make it easy for businesses to adopt the Lightning Network. He would like to see more apps and services use Lightning for payments, not create more Lightning-specific apps. Think about Spotify leveraging Lightning for streaming sats from creators rather than developers creating additional Lightning wallets.
“I always give the example of a digital camera. When the digital camera was initially released to market, everyone started using it as a replacement for the film camera, but it didn’t change human behavior,” said Sheinfeld.
“Only when the digital camera was integrated into a mobile device did it change human behavior. Today, you can’t sit to eat a meal without taking a picture of your food before you eat it. That was a dramatic change in human behavior, and that’s what I want that to happen with Bitcoin,” He also added.
“I want to change human behavior because the utility of Bitcoin is something that people won’t be able to resist and use.”
Sheinfeld has been working on Lightning since its inception, so he is well-positioned to assist in this transition.
Breez’s history
Breez was founded in 2018 and is almost as old as Lightning Network.
“We were the first company to start a business on top of the Lightning Network,” said Sheinfeld. “Just when the first mainnet transactions appeared on the Lightning Network, we founded Breez in order to help transform bitcoin from a store of value to a medium of exchange.”
Breez released the first Breez app. Lightning wallet. Breez was the first to do this. Lightning Service Provider (LSP)Sheinfeld coined the term. Sheinfeld and his team also launched the first edition of podcasting 2.0. Users can now stream their favorite podcasters. Fountain.
Sheinfeld has been working with Breez to develop the new website for about a year. Breez SDKSheinfeld revealed that. “We think Lightning should be a commodity. Everyone should have the ability to use Lightning if they want to.”
Breez SDK
Breez SDK provides a completely free, open-source software development kit.source Software (FOSS), a non-custodial, open source solution which can be used by any individual, business or institution. This is powered by Blockstream GreenlightBreez is able to host end-user nodes on the cloud, while keeping it non-custodial. The private keys are still in the users’ hands.
Breez SDK allows users to swap between base chains and Lightning Networks and offers fiat access from third-party providers.
Breez SDK from Breez is the only API that online retailers need to use to receive bitcoins over Lightning. Breez’s GitHub It doesn’t require much time to download their app or site.
“I can tell you from our experience working with our partners, it takes days to add Lightning payments to their application,” said Sheinfeld. “For some partners, it takes longer — it takes weeks — but it’s not because of the complexity of using the Breez SDK. It’s really about the user experience they want to provide when integrating Lightning payments.”
Sheinfeld has also stated that “programmatically using the API is very straightforward for every type of developer,” Breez, he said, was meant to be a free and transparent system.source This was done to reflect Bitcoin’s nature. Breez still profits from this design, because it makes money by routing end-user payments through the nodes.
Products and companies such as Relai, BitBox The following are some examples of how to get started: Blockstream Green Breez SDK is now available, and it’s hard to believe that more products or companies are not using this innovative technology.
What’s hindering greater Breez SDK adoption?
Breez is a great way to add Lightning functionality into apps. Why don’t you see more companies using it?
Sheinfeld believes that the biggest challenge is how people still view bitcoin.
“I think a lot of people still don’t believe in Bitcoin as a medium of exchange — even some Bitcoiners,” said Sheinfeld.
“As companies like Breez are lowering the barrier of entry and enabling developers to integrate Lightning, the challenge is no longer a technical challenge,” He also added.
“What we hope to do is to get enough bottom up traction from partners that we’re working with and to cross the chasm of Bitcoin credibility where when normies that are unfamiliar with Bitcoin hear ‘Bitcoin,’ they understand, ‘Okay, bitcoin is money. I can send and receive bitcoin.'”
Sheinfeld then shared how to begin crossing that chasm, by creating an “ecosystem of bitcoin-focused applications that allow you to interact with bitcoin as a form of money.”
He does not believe that BTC can be better than fiat money or other cryptocurrencies. In order to set the competition into motion, he would like Lightning to become integrated with multi-coin Wallets and eventually fintech applications.
“There’s no reason PayPal or Revolut won’t integrate Lightning,” said Sheinfeld.
“Once you penetrate all these types of medium of exchange services, you’re ready to take it to the next level, which is integrating bitcoin into mainstream applications,” He also added.
“My time frame is 10 years. I want to see a mainstream application like Uber or Spotify integrate Lightning in the next 10 years.”
Avoiding regulatory scrutiny
A week prior to my conversation with Sheinfeld Phoenix WalletLightning wallets are among the most widely used on the market. opted to stop serving US customersFearing a more severe crackdown by regulators on wallets used for self-suspension in the aftermath of the US Department of Justice’s arresting the Samourai Wallet developers.
Sheinfeld said he wasn’t worried about Breez being taken by US regulators. nextThe calm man responded to the question with: “No” Before stating his reasons,
“Let’s say it very clearly: Being a self-custodial wallet is allowed in the US,” said Sheinfeld. “Self-policing is the worst thing that can happen. We should self-regulate, but we don’t need to take an extreme side that’s more extreme than the law itself.”
He explained that the self-custodial money wallet maker is not required to possess a Money Transmitter License, or Money Service Business License.
“Breez doesn’t take control of user funds,” Sheinfeld stresses.
Lightning FUD: Acknowledging it
Lightning Network is a popular topic in Bitcoin. failureThe network’s adoption has been very slow.
Sheinfeld says that some of this criticism was justified.
“We deserve the Lightning FUD,” said Sheinfeld.
“There’s good marketing and there’s bad marketing. Bad marketing is selling something that doesn’t exist: Lightning is a magical solution for all bitcoin problems — infinite scalability, free transactions, a perfect UX. That doesn’t exist,” He clarified.
“We haven’t done a very good job in explaining Lightning in these early years of the network and we created a hype that the technology wasn’t able to fulfill, so we deserve the backlash that we’ve received.”
Sheinfeld continued to say that, despite his optimism about Lightning’s role in Bitcoin as it adopts new technologies, he is still skeptical.
“If you take a look at the technology landscape right now — Cashu, Fedi and the Bitcoin layer 2 solutions — all these various solutions will interoperate between themselves using Lightning,” “He said”
What is Next for Breez?
Breez is launching a B2B marketing campaign in the next few weeks to educate companies about the benefits of Bitcoin Lightning.
“Marketing is basically bridging the gap between the power of technology and the utility of the technology,” said Sheinfeld. “If people don’t bridge that gap themselves, someone needs to help them bridge the gap, and we need good marketing to do that.”
Sheinfeld says that Breez should now start marketing its services to companies other than Bitcoin.
“For far too long we were only in the Bitcoin community,” said Sheinfeld.
“We need to break out of the bubble and start pushing our offering beyond our ecosystem,” “He added.”
“Crypto solutions need to be aware of Lightning. Fintech solutions need to be aware of Lightning. Mainstream applications need to be aware of Lightning. That’s what we’re going to put more emphasis on going forward.”
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Source: bitcoinmagazine.com