How far Can Decentralization and Blockchain Technology Go? Exclusive Interview Robert Beadles, President of Monarch

So much so that industry blockchain guru Robert Beadles, President of Monarch,  a solutions provider for decentralized recurring payments, shared to Cryptoknowmics his thoughts on the issue in an exclusive interview.

Cryptoknowmics: Why the focus on decentralization?

Robert: Centralized solutions have failed us. Decentralized blockchain solutions are what's needed to keep our financial and private affairs safe, reliable and secure.

Cryptoknowmics:  Will cryptocurrencies change the World?

Beadles: Yes, cryptocurrencies are already changing the world. We’re already seeing how decentralization and peer-to-peer transactions are providing an alternative to traditional banking structures, and that will continue. We've won, even the FED, Governments etc have now stated they will be implementing their own cryptocurrency.

Cryptoknowmics: What exactly is Monarch going to change completely?

Beadles: Monarch totally eliminates the need for countless apps and logins to manage your cryptocurrency. The app has unrivaled flexibility, and our goal is to make it the only app anyone, most anywhere will ever need to manage their financial and blockchain kingdoms.

In addition, we’ve launched the world’s first decentralized recurring crypto payments. Until now, there’s been no way to automatically pay merchants in crypto on a recurring basis. We developed a patent-pending, permission-based smart contract system that pays one wallet address the same amount of cryptocurrency on a daily, weekly, monthly, yearly or other recurring basis. This smart contract allows any merchant to start accepting recurring payments, and any user to start paying onboarded merchants with the supported cryptocurrencies.

Cryptoknowmics: What is the single most important contribution that Monarch is bringing to the cryptospace?

Beadles: Monarch combines all your favorite blockchain services in one place, with one login and KYC process. The key differentiators are security, ease of use, and decentralization.

Today, cryptocurrency users need an average of nine applications to manage their digital assets, with each service requiring its own login and KYC process. Without a simple, streamlined application to access their digital assets, cryptocurrency users are left vulnerable to hacks, identity theft, SIM swaps, and more.

Monarch eliminates the need for multiple applications and improves security with a single wallet, delivering every service needed to buy, sell, trade, and manage digital assets. Monarch delivers a better, more secure user experience than its competitors by allowing users to access all the best services while safely storing their crypto with their own seed and keys.

Cryptoknowmics: With the scaling challenges that Ethereum is currently facing, how does Monarch aim to work within the ether ecosystem? 

Beadles: Monarch utilizes the Ethereum blockchain for its universal decentralized wallet, recurring payments platform, smart contracts, has both its utility and security tokens on the blockchain.  Monarch will scale alongside Ethereum as they make updates to scalability.

Cryptoknowmics:  Are you at this time considering inclusions of other blockchains?  

Beadles: Yes, we’ve already added support in our wallet for other blockchains like LTC, XRP, BTC, BCH, SLP tokens and have plans to include even more cross blockchain support in our wallet. For our Decentralized Recurring Payment Platform, we’ll also be adding BCH and SLP token support. This is just the beginning too, read our whitepaper, look at our roadmap, it outlines just a fraction of what we are planning.

Cryptoknowmics: What solutions are you currently implementing for smart contract security for tokens that will run within the Monarch system? 

Beadles: We have some of the best coders and developers on the planet as part of the Monarch team, including David Zimbeck the world’s first smart contract creator. In addition, we use world class smart contract auditing services prior to any release, followed by bug bounties. I also belong to C4 and other blockchain association and follow the CryptoCurrency Security Standard (CCSS) best practices etc

Cryptoknowmics: Where do you see the cryptospace in three years? 

Beadles: Cryptocurrency adoption will only continue to grow from here on forward.  There’s just too much value it brings to the world, new breakthroughs and developments which are happening right now.  The fact that a giant like Facebook is trying to Launch Libra, and congress is wrestling with the reality of the coming changes blockchain has the possibility to bring; I believe shows that blockchain adoption is picking up, it’s an inevitability.

Cryptoknowmics: How best can mass adoption of cryptocurrencies be encouraged?

Beadles: With simple, streamlined applications that work better than their centralized counterparts, that allow the users to access and have true ownership to their digital assets, data, private keys and seed.

Cryptoknowmics: In your opinion, what is the single biggest challenge facing the cryptospace right now?

Beadles: There are many challenges facing the crypto space right now, including regulatory uncertainty. Governments are still trying to figure out cryptocurrency enough to regulate it, and that makes it more important than ever for people investing in cryptocurrencies to understand how to manage and protect their digital assets. In addition, most blockchain services currently are not as user-friendly as centralized counterparts, which further slows adoption.

Points to Note

What do you think?

Are cryptocurrencies and blockchain technologies going to take over the World?

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