TED ROGERS

PRESIDENT, XAPO, SAN FRANCISCO, CA, USA
He brings banking and finance experience to the cryptocurrency giant Xapo and wants bitcoin to become the new global reserve currency

WHY YOU SHOULD LISTEN

With its high profile over recent years, casual banter about Bitcoin is now as ubiquitous as talking about the weather or your neighbour’s new car. Much of the skepticism about the mass-adoption of cryptocurrency is around the security against hackers who understand how to mine and hack crypto-wallets of regular, unassuming currency holders.

Xapo addresses this concern by being the world’s most secure bitcoin wallet, with an estimated $10 billion in $BTC in underground vaults. The vaults are housed in high-security installations, including a facility deep within a decommissioned Swiss military bunker. As such, it is the favoured wallet for long-time Bitcoiners and new investors alike.

Merging his technology and finance experience, Rogers is applying his expertise to growing Xapo, riding the crazy rollercoaster of hourly price volatility, ever-new IPOs and in-progress government regulations. If anyone knows about needing to stay dynamic and updated, it would be Ted Rogers.

Read more on our blog – and hear him speak as part of the “Crypto Assets: Master or Servant?” panel at WORLDWEBFORUM 2019.

Xapo

Xapo is a Hong Kong-based company that provides a bitcoin wallet combined with a cold storage vault and a bitcoin-based debit card. Xapo was founded with the aim of making the bitcoin currency more secure and accessible. The Xapo Wallet operates through a mobile app and online and includes the ability to transfer funds to and from the Xapo Vault. In April 2014, Xapo introduced a debit card that will link to the user’s Xapo Wallet and will function like a standard debit card, except that it is backed by bitcoins instead of traditional currency. In May 2015 Xapo moved its headquarters from Palo Alto, California to Zurich in Switzerland. In July 2017 Xapo was granted a European e-money license in Gibraltar allowing it to provide electronic fiat money custodial and transfer services. Xapo develops and delivers online and offline security solutions for Bitcoin.  The Company offers Xapo Vault, that keeps Bitcoin offline and protects them from possible attacks for long term savings, and Xapo Wallet providing a way to manage funds for day-to-day purchases through its online paltform and mobile application.

Why bitcoin?

With so many complexities, layers, and intermediaries, wouldn’t it be better if our money communications could be one-to-one, or, in tech terms, peer-to-peer? History shows that we want to communicate simply and directly. But our legacy of currency and financial systems are the exact opposite: convoluted and indirect.

That’s where bitcoin comes in. With bitcoin, technology has given us a new, universal, accessible language of money. Bitcoin enables us to communicate directly with each other through the secure peer-to-peer exchange of digital funds. There’s no localization to decipher. Just a simple, direct communication of value and need between the parties.

Like the telephone, email, text messaging, Facebook status updates, tweets, and video chats, bitcoin is poised to become a new way of communicating around the globe. And like those technologies, it won’t happen overnight. Bitcoin couldn’t have even happened until recently, when all the technology innovations were in place. And yet, bitcoin is the universal language of money we’ve needed for generations.

The Ultimate Money

That brings us to bitcoin. Is it money? The bitcoin network is a ledger, a record of credits and debits; when I own a bitcoin, I own a credit. Is that credit transferable? Of course: I could go to a bitcoin exchange, a bitcoin-accepting merchant or to any one of millions of active bitcoin users to transfer that credit.

So bitcoin is transferable credit — it’s money.

With bitcoin, however, we don’t just have money. We have, for the first time in 5,000 years, a money better than gold.

Remember the six characteristics that define sound money: scarcity, divisibility, portability, verifiability, recognizability and fungibility. Bitcoin surpasses gold in five of those six characteristics. The one exception is fungibility – while one ounce of gold is exactly like another, each bitcoin has its own traceable history. (For some, this may actually be viewed as an improvement on gold.)

In future posts, we’ll delve into bitcoin’s strength in each of the six categories but, by any objective analysis, bitcoin is the ultimate sound money. In fact, it is the best form of money humans have ever invented.

TICKET

BIOGRAPHY

Mr. Ted Rogers serves as Senior Vice President of Business Development at Xapo Inc. Mr. Rogers is a Managing Partner at PPI Ventures. He was a Partner at Arpex Capital Investimentos SA and serves as a Limited Partner.

Here, he is a Mentor Capitalist to several exciting companies. He served as a Manager in Business Affairs at America Online, where he executed ecommerce, content and investment transactions.

His experience in venture capital began in 1997. He served as a Vice President of Corporate Finance at Friedman, Billings, Ramsey Group, Manager in the Business Affairs group at America Online, and a Managing Director of Davidson Capital Group.

He has worked with and for technology companies, such as Vidavee and Jango, at every stage of lifecycle, from founding to acquisitions and initial public offerings.

Ted has over ten years experience in the finance and investment industry. Mr. Rogers graduated from Williams College and cum laude from Georgetown University Law School.