When will Counterparty get a mobile wallet?
Counterparty is unlikely to develop it's own mobile wallet. But, it's very likely that one or more of the mobile wallet providers will integrate Counterparty...
What's up Party People? Chris DeRose here, community director of the Counterparty Foundation. In this video I wanna answer the question, "When will Counterparty get a mobile wallet?" So this has been going around a lot with the election and such, and I think a lot of people really need to see Counterparty on mobile, and for a lot of good reasons. And I think it's time to start answering the question, when and how we're going to see this wallet? So let's begin. Counterparty has a really great visual client in the form of Counter Wallet. There's also the Counterparty official GUI client. I think it's in Qt.
That's one with Python I think. That'll be part of the Counterparty official distribution. Counterparty has the command line client, but we don't have anything in the mobile space. So we've talked again about the project, about the feasibility of a mobile client, and I don't think it makes a lot of sense for Counterparty itself to make a mobile client. And there's a lot of reasons for that, but certainly some big development effort. Certainly there is a lot of specialty development.
It's not quite as easy and as well developed as we see in the desktop space in the form of Qt, where there's a lot of libraries that are universal, that have been around for a while that make things very easy. And two, a lot of the projects is developed with Python, so you wanna talk about maybe developing something in the mobile space, and now you're looking at Objective-C or C or Java, and it's just not really at the core competency of the Counterparty team. I think that we're going to see Counterparty on mobile. I think we're gonna see Counterparty on mobile in the best possible way. What would that way be? Well, it'll be in support by the major mobile wallet providers. So right now I think the main mobile wallet providers we have are blockchain.
info, Mycelium, and Airbitz. And I think this is a great fit for them for a lot of reasons. I think that they're probably aware of this. I don't know if they are putting it on their schedule or not yet, but I know that the conversations are being had. So, why would they add that to their software? Well, first and foremost, there's a lot of problems that aren't solved by Bitcoin, and not the least of it is the decoupling of an asset from the Bitcoin conversion price. Maybe you wanna have a movie ticket on your Bitcoin wallet.
Maybe you wanna have loyalty points. Maybe you wanna have gift certificates. Maybe you wanna have coupons. These are all things that should be on your mobile app, that should be listed right there with everything else that you do in your Bitcoin system. Of course the way to do that would be Counterparty. And I think that for a lot of the vendors, they're looking perhaps at ways to expand their user base, and this is probably going to be an area that they're gonna need and want to expand to.
There will be integrations for them available in the form of maybe, I don't know, game credits, and game currencies and such. It's conceivable that users will want to spend, trade, and allow for all kinds of virtual currencies to be moved by way of their wallet to another person's wallet, in their vicinity, or online, or something like that. The biggest reason that I think we absolutely need to see more support for the wallet vendors is in the form of remittance. Now I think this will be really the Counterparty's killer app. And App World right now is doing a great job. I like what they're doing, but there's a lot of room for us to do that in the Bitcoin space through open standards.
And I think that as we see banks on-boarding into Counterparty, as we seek fiat assets that offer stable unit of account, there'll be a lot more support in the mobile wallet industry to add support for these currencies through Counterparty. Counterparty is part and partial a Bitcoin., it's not a lot of work for them. They've already done 95, or 98% of the work to actually support what they need to support for Counterparty. So it's gonna be a relatively small switch for them to flip, when they're ready to add the support for Counterparty. And I think these are the reasons they could do so.
Now I don't know what will come first, the chicken or the egg. Will it be fiat assets that are available through Counterparty, or will it be mobile assets, or mobile support through which these fiat assets can move. But I think that the pairing of those two will be the killer app. It's conceivable that remittance isn't very good on Bitcoin right now. It's going to be good, no doubt. But one of the problems we have is that there is this scenario, and it's not even uncommon, by which somebody wants to send let's say $100 from the United States to Mexico.
Well, maybe by the time somebody in Mexico has redeemed that $100, it's now worth $90, or maybe it's 110, which isn't too bad. But we need a stable measure, and right now we can't do that with Bitcoin, which is one of the biggest cases that I think that mobile apps are going to benefit from trading US dollars and more stable unit of account currencies on their platform, and one of the reasons why I think that Counterparty is an absolutely perfect fit for them. So when will we see it? I don't know. Certainly I'd like to hear some rumination of this happening in 2015. Will it happen? Well, let's see. But it will be a great way to distance one's wallet from your competitor.
So Airbitz, if you're listening, or Mycelium, or blockchain.info, it's time to step it up a little bit and beat the other guy. Let's see you do it maybe in the form of Counterparty asset support. But, I don't know. Maybe the audience thinks otherwise. If you do, why don't you leave your comments below and tell me how you feel about the issue.
Did I answer your question? Do you have more questions? Ask away. And if you like this video, subscribe to the channel. I'd love to have you around. Later Party People.