July 03, 2014

Hive Web App Seeks to Remedy Bitcoin Pain Points

Although in some sectors Bitcoin is growing, it tends to be with a computer-savvy crowd that is willing to put up with some of the hardships the crytocurrency has compared to traditional payment methods. These hardships include difficulty understanding the medium and difficulties making payments at points of sale such as restaurants or clothing stores.

Hive, a startup focused on making cryptocurrencies easier to use, is using its new HTML5 app, Hive Web, to make customers' lives easier and Bitcoin a bit more friendly, says a recent article at CoinDesk. Since most smartphones come with browsers that support HTML5, the Hive Web targets users who may not already have the company's iOS or Android (NewsAlert)-specific apps.

In February, Hive's CEO Wendell Davis says, Apple removed wallet apps from its app store, so in response, Hive began working on an HTML5-compatible wallet that could replace what Apple (News Alert) had removed. Since that time, Apple has revamped its policies to allow cryptocurrency apps back on its virtual shelves, but that did not stop Hive Web from taking shape.

Hive Web is reportedly the first of its kind. Davis said to CoinDesk, "There's none like this. HTML5 wallets specifically, mobile targeted, a lot of people have talked about releasing one of these. But, I think we're the first to [do this]."

Although the app is still somewhat minimalist – "the initial version still needs to be integrated with contacts and Hive's own app store," CoinDesk reports – such features are coming soon, and the features it already has tackle broad cryptocurrency frustrations.

First of all, as this article previously noted, users want to be able to use their cryptocurrencies everywhere. It can be difficult to make purchases with Bitcoin at a front desk, but Hive Web's "Waggle" feature makes this possible. It frees users from needing to scan QR codes to transfer money from one account to another. Waggle broadcasts a user's general location and allows Hive users to view each others' locations to easily make payments.

In addition, Davis says Hive believes strongly in Bitcoin, but the company also believes in the development of alternative cryptocurrencies as well. Hive has added litecoin support to its digital wallet, and it is reportedly working on support for additional currencies. Essentially, as Davis puts it, the wallet should not make judgments about which currency is better than any other, and it can do that by becoming a supporter of as many currencies as possible.

"The vision is that we want Hive to basically support everything," Davis says. "We're not making judgments about what's valuable and what's not."

Edited by Alisen Downey


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