Dec 21 2024 62 mins 2
Live from Bitcoin Beach in El Zonte, El Salvador, I sat down with Carel Van Wyk, a true Bitcoin pioneer from South Africa, to hear his incredible journey in the Bitcoin space. Carel shared how a sci-fi book planted the seeds for his belief in a non-governmental digital currency and how he stumbled across Bitcoin back in 2010. From helping build South Africa’s first Bitcoin exchange (now known as Luno) to launching Money Badger, a project aimed at making Bitcoin a spendable currency, Carel’s story is nothing short of inspiring.
We dive into the challenges he faced, like navigating strict regulations and innovating payments with the Lightning Network, and how his team enabled 1,600 Pick n Pay stores in South Africa to accept Bitcoin. Carel also reflects on his visit to El Salvador and the amazing progress this country has made in Bitcoin adoption, comparing it to the hurdles South Africa is still facing.
If you’ve ever wondered what it takes to build a Bitcoin-based payment system from scratch, you don’t want to miss this one! Tune in and let’s learn from Carel’s incredible journey!
- Mike
Support and follow Bitcoin Beach:
https://twitter.com/Bitcoinbeach
https://www.instagram.com/bitcoinbeach_sv/
https://www.tiktok.com/@livefrombitcoinbeach
Web: https://www.bitcoinbeach.com/
Follow and connect with Carel, Money Badger, and Luno:
Website: https://www.moneybadger.co.za/
LI: https://www.linkedin.com/company/moneybadger/
X: https://x.com/MoneyBadgerPay
IG: https://www.instagram.com/MoneyBadgerPay
Website: https://www.luno.com/
Browse through this quick guide to learn more about the episode:
0:00 - Introduction
1:47 - What is Carel van Wyk’s background in Bitcoin and technology?
3:53 - How do South Africa’s economic challenges impact Bitcoin adoption?
5:21 - How did Carel van Wyk first discover Bitcoin in its early days?
7:34 - What was South Africa’s first Bitcoin exchange, and how was it founded?
9:28 - How do Bitcoin exchanges handle liquidity and exchange controls in South Africa?
12:46 - How did BitX evolve into Luno, and what lessons were learned?
16:23 - Why did Carel van Wyk leave Luno, and what happened next?
19:06 - What is Money Badger, and how does it help make Bitcoin a usable currency?
22:14 - How did Money Badger enable Bitcoin payments at South Africa’s Pick n Pay stores?
26:36 - What challenges arise with Bitcoin QR codes, and how can they be solved?
30:58 - How did Money Badger and Blink wallet collaborate to simplify Bitcoin payments?
35:31 - Can proprietary QR codes like Pick n Pay’s work seamlessly with Bitcoin wallets?
38:59 - How could Bitcoin wallets improve compatibility with Chivo QR codes in El Salvador?
42:19 - What’s next for Money Badger, and how does it plan to expand globally?
47:45 - Why is Bitcoin as a unit of account important for businesses like Money Badger?
50:35 - What are South Africa’s new crypto regulations, and how do they affect Bitcoin? 56:15 - How does El Salvador’s Bitcoin adoption compare to other countries?
58:56 - Can improving safety and reducing crime accelerate Bitcoin adoption in South Africa?
1:00:01 - How can you follow Carel van Wyk and learn more about Money Badger?
Live From Bitcoin Beach
