The Bayesian Group announced today it has acquired popular Bitcoin wallet Money Button for an undisclosed sum. CEO Roy Bernhard said it was Money Button’s “significant user base and network of businesses built on top of their technology framework” that influenced the decision.
The group will likely integrate Money Button features into its fabriik smart contract and asset tokenization platform. Bernhard added that the Group has a core philosophy of a tokenization platform vs. a tokenization protocol, and that it would continue to grow and acquire complementary businesses that helped reach its goals.
The Bayesian Group also said it believed interacting with digital assets should be simple, and that Money Button was an advanced wallet with a simple interface—something that provided an essential component in keeping the promise of an accessible financial future.
fabriik smart wallet
Money Button founder Ryan X. Charles, speaking with the new title of Head of Engineering for fabriik Smart Wallet, said the acquisition would benefit both companies. The announcement said fabriik had worked with Money Button staff on some of its features, saying the collaboration had “turbocharged our ability to iterate on feature sets.”
Money Button joins Fabriikhttps://t.co/O3Rrgtvo5o
— Money Button (@money_button) September 29, 2020
“The Bayesian Group is building a liquidity ecosystem for many asset classes, and Money Button is an advanced wallet for Bitcoin. By joining the Bayesian Group, Money Button becomes a member of a larger company solving many problems that complement the wallet we have built. We solve a problem for Bayesian, and they solve many problems for us. We are extremely excited to join the team and create the future financial system on top of Bitcoin.”
The fabriik website includes a Money Button logo and invites new signups to its platform to create a paymail address. Money Button was the first wallet to adopt and promote the paymail protocol for cross-platform identity and payments.
fabriik describes potential use-case examples for tokenization including loyalty programs, copyrights, carbon credits, contracts, and any other tradeable asset. “The possibilities for creating tokens for what you need are endless. The sky’s the limit.”
The Bayesian Group is a Toronto-based collection of companies formed officially in July 2020 to focus on solutions for a digital asset-based business world. It decided to build its platforms on the BSV blockchain after evaluating Ethereum, BCH and Litecoin. The company has said it chose BSV primarily due to its low transaction costs and ability to scale, offering the only realistic base on which to build new financial and exchange networks, “in a world where everything is tokenized.”
About Ryan X. Charles and Money Button
Money Button has become one of the most popular wallets for Bitcoin BSV since it launched in 2018. Initially a BCH wallet, it moved to the BSV blockchain after the November 2018 split that promised to restore Bitcoin’s original protocol.
Used mostly as a desktop browser wallet, Money Button’s most prominent feature is a blue slider “button” that users simply swipe with a mouse point or finger to make a payment. The button may be pre-programmed to accept a specific payment amount, or users may enter the amount of their choice for tips and other payments. Money Button is also used as a central point of identity confirmation to create accounts on social platforms like Twetch, PowPing and Streamanity just to name a few. It also recently added a feature called “Invisible Money Button” that eliminates the swipe feature, making multiple micropayments more efficient.
Charles had several times expressed a desire to build solutions based around a small and micropayment economy, first working in the BTC industry and developing the blogging platform Yours.org. He became dismayed at BTC’s move to a “digital gold” and high-fee transaction model, which effectively destroyed many businesses built on Bitcoin’s original promise to facilitate fast, cheap payments anywhere in the world. Many of those businesses and their models are beginning to emerge on BSV, which has restored not only the protocol but much of Bitcoin’s original enthusiasm.