Among several crypto projects that are floating around these days, one manages to stick its neck out a bit due to its unusual name, Bread, or BRD, which is its actual name now. At the time of writing, BRD stands at rank 152 on CoinMarketCap. So how is this project different? How it manages to make itself different from all the other such crypto projects, in such a saturated market?
In order to understand the project in detail, BlockPublisher got in touch with the Co-Founder and Chief Strategy Officer of BRD, Aaron Lasher. The following Q&A helps one completely understand the project in detail.
What is Bread’s long-term vision?
To be the world’s largest financial institution as measured by assets under protection. By the way, we are “BRD” now. But we can’t seem to shake the name “Bread” and frankly, it doesn’t bother us that much. It’s a good name. Our mission (distinct from the vision) is to financially liberate the individual.
How is the Bread token different than the rest?
The BRD token can live in the BRD app, whereas other projects must rely on wallets to provide the ecosystem for storage, utility, and redemption of their token. Additionally, our team has deep expertise that informed the structure of our token utility based on established economic factors.
What products are present in the Bread ecosystem?
BRD offers the most important core functionality free of charge: the ability to completely control your money, or as they say in the industry, to securely store your private keys, while being able to use your funds freely. Additionally, we bolt on services that our customers like, such as the ability to buy or sell crypto for fiat, and take a modest commission on those activities. The BRD token enhances the benefits of our offering via financial discounts and access to otherwise exclusive deals, depending on the amount of tokens you hold. Think airline miles meets Starbucks points.
What is the project’s main focus right now?
We need to create a buttery smooth integration between crypto and the legacy financial system without compromising the core benefit of owning your money.
Is the team local or global?
Totally decentralized (with a few offices where the smart people happen to live close to one another).
What is the main use-case of the platform?
What is the main use case of a bank account? Articulate that, and add the ability to carry it with you wherever you go, without fear that it can be frozen on confiscated, and you have the answer!
As we are moving forward in time, more and more crypto projects are springing up with each passing day. Most of these provide redundant services. Only those are expected to survive in the long-run which present forward a viable use-case. Bread’s aim of joining the crypto and the traditional financial framework is a pretty viable one. But in such a saturated market, it remains to be seen how this project tackles the fierce competition that is present in the crypto ecosystem right now.