The following transcript was created using artificial intelligence. There will be some grammatical errors below. 

00:00:03:00 – 00:00:21:08

Richard Carthon: Hello, everyone. Welcome to another episode of Crypto Current, your host here, Richard Carthon. Today, I got a really special guest that’s getting ready to drop a brand new project that I’m excited to learn more about, it’s in the e-commerce world, but you have a unique twist bringing it to Blockchain. Aw man, we have a really special guest, we have Daniel Dabek. How are you doing today? 

00:00:22:01 – 00:00:27:23

Daniel Dabek: Hey, Richard, doing really great. Excited to be here, happy to talk about what we’re going to talk about. 

00:00:27:25 – 00:00:35:29

Richard Carthon: For sure man. Well, before we dive too deep into what you got going on with SafeX, how about you tell us more about yourself? Give us some background. 

00:00:36:16 – 00:00:58:08

Daniel Dabek: I got started up in this whole kind of world because I started working on Wall Street, trading stocks and stuff like that. I hated the fact that it was manual. The job that I was doing got me into programming and then through computer programming, I discovered Bitcoin 2013.

00:00:59:09 – 00:01:01:13

Richard Carthon: Wow, early. Nice. 

00:01:01:23 – 00:01:53:25

Daniel Dabek: Yeah, right there. And then from programming, 2013, I saw that Cryptocurrency is not just some speculation. I saw the power that Cryptocurrency had in making transactions worldwide, being able to hire people anywhere, being able to be anywhere and still settle payments 24/7, whatever day of the week, stuff like that. And to anybody in any amount, no need to fill out paperwork, etc., so I saw the power in that for people who just want to get in business. They have something to offer the world and they just want to be working and selling or trading, whatever it is and that’s what I saw Crypto doing. So basically removing the red tape. That’s been my driving factor in why I’m all in Crypto these last seven years and counting. 

00:01:54:12 – 00:02:19:08

Richard Carthon: Yeah. And it’s interesting that you have a background from Wall Street that made you then pivot into the development world. But me myself, I came from a finance background, did wealth management and just seeing what I learned about Cryptocurrency and like, how disruptive it is and how it’s I call it the great equalizer because any and everyone has access to money and can really change their lives. 

00:02:19:10 – 00:02:49:13

Richard Carthon: And just like you said, at any given point, you become your own bank. You now have that access to do what you want with your money, it has legs. And so you said back in 2013 you started to go in this direction, you’re deciding like, Okay, I want to figure out a path to start a career in this market. So like walk us through that. So you leave Wall Street, now you’re a developer. How did you weave your way into creating your own company? 

00:02:49:28 – 00:03:39:21

Daniel Dabek: Yeah, exactly. The first things that I was doing was building little wallets, manipulating Bitcoin, how to generate keys and forming transactions. And some of the first things that I was working on was like, 3D wallets, so video game versions of wallets. Yeah, I was at, in 2014, at the Bitcoin Meetup in San Francisco showing the likes of Brian Armstrong from Coinbase, my little thing and passing around a phone. There’s some video circulating on the Internet about that. Later on I got into making a video game as a trading platform, so you could run around the New York Stock Exchange. That was very exciting, but that was a little bit too early for the industry.

00:03:39:27 – 00:03:40:12

Richard Carthon: Yeah.

00:03:40:16 – 00:03:54:26

Daniel Dabek: It’s like you had half a million people max using Crypto, so you didn’t really have too much enthusiasm for like, the games are cool, but it’s not. So you’re asking how to get a, now, you try things.

00:03:54:28 – 00:03:55:13

Richard Carthon: Right.

00:03:55:15 – 00:04:01:10

Daniel Dabek: And you send them and you see what people like and don’t like or is there a market for this? Maybe I’ll do it later.

00:04:01:12 – 00:04:01:27

Richard Carthon: Right.

00:04:01:29 – 00:04:07:02

Daniel Dabek: So do I still have a bunch of games in my repertoire? Yes, I still have a bunch of games, a bunch of ideas. 

00:04:07:14 – 00:04:10:08

Richard Carthon: It’s like you said, the timing wasn’t there yet. 

00:04:10:10 – 00:04:10:25

Daniel Dabek: Exactly.

00:04:10:27 – 00:04:15:26

Richard Carthon: But you said you discovered a market. You knew that people liked it, but you’re just early. 

00:04:16:21 – 00:04:41:09

Daniel Dabek: Just early. So what I did, I took all the fundamental stuff that I would have put like API connectivity to exchanges, the Crypto key management and created SafeX wallet. And we created a community of people who wanted to build. We mutually wanted something to exist. We wanted a marketplace embedded in a Blockchain like, that simple. 

00:04:41:17 – 00:04:42:02

Richard Carthon: Yeah.

00:04:42:04 – 00:04:50:05

Daniel Dabek: Bunch of people gave me like insignificant amount of money early on, but insignificant in the scope of how big our stuff has become. You see what I mean? 

00:04:50:07 – 00:04:50:22

Richard Carthon: Yeah.

00:04:50:24 – 00:05:50:00

Daniel Dabek: But obviously everything stems from somewhere, everything has its root, so I’m eternally grateful. We launched one of the first at the time called Crowd Sales. Today, they call them ICOs. Back then, we didn’t know what’s going to happen, in terms of like how do we do this? So I sold 99 percent of all the tokens. I don’t want to make a company or some kind of unregistered security kind of thing, so we basically formed like a cooperative, right? Now things are more understood, people launching ICOs and they filed the correct paperwork and they get to make an actual company. So, there’s no asphalt road to getting ahead. Yeah, we’ve been very successful, SafeX was a massive success speculatively, but it’s only now launching. If you caught me two and a half to three years ago, I would be saying, Hey, I’m just now getting the monitors for the programmers. You know what I mean?

00:05:51:10 – 00:06:07:25

Richard Carthon: It’s been a journey, but like along the way, you’ve had to figure it all out. Just like you said, there wasn’t a clear cut path. There was no clear road of like, how do I even set this up? So, you were figuring a lot of it out, you were having the growing pains of just understanding. 

00:06:08:10 – 00:06:09:13

Daniel Dabek: Money, yeah. 

00:06:09:15 – 00:06:17:29

Richard Carthon: Right. Understanding money management of how do I build this thing, staying lean, but still getting the product out, which now is the exciting part, because here we are, right?

00:06:18:09 – 00:06:19:28

Daniel Dabek: Product is done, exactly. 

00:06:20:14 – 00:06:21:24

Richard Carthon: So tell us a little bit more about that. 

00:06:24:03 – 00:07:34:14

Daniel Dabek: Just for everybody who doesn’t know, SafeX fundamentally is a Blockchain, it’s own network, right? What we did was embedded a marketplace inside of that Blockchain. What does that mean? You create an account, you can list a product for sale, you can buy that product and leave feedback, that’s fundamentally what the marketplace does. So, then there’s proof of work mining in there, there’s that coin that we launched as a Crowd Sale in 2015. We have the token, earns five percent of every sale, gets put into a pool, so the token can be collected from that pool and you earn kind of like, revenue stream. So, let’s say someone sells something for $100, $5 goes to a pool, and then however many shares of that token, you collect from that five percent. You see what I mean?

00:07:34:16 – 00:07:35:01

Richard Carthon: Okay.

00:07:35:03 – 00:07:52:24

Daniel Dabek: That’s like an incentive system for the platform wide. And that token was sold, 99 percent of it was sold for 150 Bitcoins five years ago, you see? So that token is out there and it’s been out there. So if you heard of SafeX before, that’s the token people were talking about.

00:07:52:26 – 00:07:53:11

Richard Carthon: Got it.

00:07:53:13 – 00:08:30:15

Daniel Dabek: Now, the token doesn’t make the best currency. So, it’s kind of like, paradoxical. I’m here talking about my project, but the token is not the currency. The token is like a representative token, right? It’s kind of like an incentive to have a group of people coalescing around this oasis, right? On the Internet, the SafeX Blockchain. The SafeX Blockchain is the Internet of commerce essentially, right? It’s the rails on which you can post with no censorship. It’s like HTTP for your product listings, you see what I mean? 

00:08:31:18 – 00:08:32:03

Richard Carthon: Yeah.

00:08:32:05 – 00:09:01:06

Daniel Dabek: Inside that product listing, you can put whatever you want in there. And every time it’s sold, there’s a pool and there’s people supporting that platform. There’s thousands of people having this token and they’ve been, when I said you have to adapt, you have to read the market. The market, it’s me alongside these thousands of token holders. So we launched a proof of work. The token is not the currency, right? Token is like a membership coin. The currency, then, is the SafeX cash. 

00:09:01:17 – 00:09:30:16

Daniel Dabek: So SafeX cash, I believe proof of work mining is the most credible way to create a decentralized network. Why? Because if you give the power to only coin holders, the only way to seize or influence the Blockchain is exclusively through holding those tokens, which is great. But if this thing is public, whoever has those tokens already controls everything and there’s nothing you’re going to do about it, except paying the money for their tokens, right?

00:09:30:18 – 00:09:31:03

Richard Carthon: Right.

00:09:31:05 – 00:10:08:07

Daniel Dabek: And that could become infinite. So then, if we treat a Blockchain as something public, then we should be able to affect it from the public, which means we can go buy machines and start mining, see what I mean? That also has a three dimensional limitation by heat, electricity, right? And square footage. Heat, electricity, square footage, right? So, you’re a limit. You can’t just fill a skyscraper, you can’t just stack mining to the moon because it’ll light on fire, you know, you just can’t do it. 

00:10:09:01 – 00:10:09:16

Richard Carthon: Right.

00:10:09:18 – 00:10:35:24

Daniel Dabek: There’s a physical limitation to how involved you can be in trying to disrupt a public Blockchain through proof of work mining. That’s my belief, so that’s why we launched the SafeX cash and the SafeX cash also doesn’t follow the traditional model for mining where Bitcoin, only if you’re first, you win, right? Only if you heard about it first, you could go mine it, same with all the other coins, right? 

00:10:36:11 – 00:11:24:10

Daniel Dabek: SafeX cash on the other hand, we agreed, we discovered obviously through years of Cryptocurrencies, so that’s why it’s good that we launched in 2018, the proof of work mining, part of it, not any time sooner. And it’s good that we’re already breaking it in. Why? We start out with one level of reward, then we increase it next year and we increase it next year for seven years. So that as people, like if you’re watching this video right now, we have a special purpose operating system. You could turn any computer into a SafeX cash miner and the block reward increases every year. So, as you’re hearing about this, five more years, you’re actually advancing yourself because you’re going to be mining a bigger share of coins, you see what I mean? 

00:11:24:29 – 00:11:25:14

Richard Carthon: Yeah.

00:11:25:16 – 00:12:14:27

Daniel Dabek: And why is that? So when you invested in your mining this year, you’re not stressing about next year. Next year, there are going to be more coins. Even if there’s more competition next year, there’s still more coins. So, you’re not, like, leveled on your face, you see what I mean? So so far, that’s working out really well. So far, like people discounted the first year and people got a lot of shares for not too much effort. This year, a totally different story. People saw that model, jumped on board and then more people jumped up on board and now in August, you’ll have the reward increase and it’ll like level off all this competition that just poured in. And then more competition will jump in. And then the same thing ought to happen once again. 

00:12:15:12 – 00:12:48:13

Daniel Dabek: The dynamic is different, people are not late by discovering us over time and that was the point. I believe that Satoshi Nakamoto created that incentive to distribute the lion’s share of the coins early on, strictly because he needs people to aspire to do it. But we already know Cryptocurrency mining is a thing. I’m not here to inspire you exclusively about Cryptocurrency mining, I’m here to inspire that there’s a better model for Cryptocurrency mining than the ones that we’ve already been having. 

00:12:49:04 – 00:13:27:19

Richard Carthon: Yeah. So that’s interesting, you’re putting a new twist on mining and finding ways to incentivize people on your platform to collect your coins while still utilizing the platform. So there’s two routes I want to go, first, let’s say on mining for a second, then I want to get back to the platform itself, the e-commerce Blockchain. So, as people are beginning to mine this, is the utility of having these coins from like a tradable aspect? Is it so that they can then use it to buy things on your platform? Like what, with now like earning these coins, how am I now going to go and use them? 

00:13:29:19 – 00:14:19:26

Daniel Dabek: You mine those coins, you could sell them to the exchange, but you could also use them to buy stuff, right? So you don’t have to ever sell them on the exchange, just go find the things you like and go buy stuff. The other thing is, if you want to sell things, you need like, a minuscule amount of the coin. So in actuality, if you did go and start mining SafeX cash, within a few hours, you’d have enough coins to open up a store. You’d need just a fraction of money. So imagine you’re in the middle of nowhere, you have Internet connectivity, you have a decent computer, enough that you get a couple of coins. That’s enough to list, like, literally a couple Safex cash coins is enough to start listing 100 products. It’s going to cost you like a .02 to SFX per transaction of a new product listing. Depends how much data you put in it. 

00:14:20:24 – 00:14:41:15

Richard Carthon: Let’s let’s stay there for a second. So, now we’re talking about the e-commerce side itself. So, someone comes onto your platform and they want to sell a thing, they want to set up a marketplace, now, is the marketplace living on SafeX itself? Is it that I can now take the marketplace and put it on my own website? Like, tell me about that interface, like tell me how that operates. 

00:14:41:24 – 00:14:54:24

Daniel Dabek: The marketplace literally lives inside the Blockchain, right? So all the data, whenever like, when you send a Bitcoin transaction, you want to sell something, you tell the Blockchain you’re plugging the data permanently into the Blockchain, right? 

00:14:55:03 – 00:14:55:18

Richard Carthon: Right. 

00:14:55:21 – 00:15:42:16

Daniel Dabek: So, what does that mean? Now, like any block explorer, it can go and read everything and pull it out and put it on a website. So what did I do? I’m providing everybody an API, right? And that API scans the Blockchain in real time. You can download the software at Github.com/SafeX. And the point is that if you configure this, what you’ll be able to do is approve of just only your account, you see? So this software, when you spin it up, it’ll download all the data from the Blockchain, then you can go in and filter only your information and then you will now have a website with all your products pulled directly from the SafeX Blockchain. 

00:15:42:18 – 00:15:44:26

Richard Carthon: It’s pretty neat. 

00:15:45:15 – 00:15:53:11

Daniel Dabek: Yeah, it’s a catalog for all the things of our earth. It’s a global unsensible catalog for everything people want to put in. 

00:15:54:21 – 00:16:12:04

Richard Carthon: Got it. Okay, so for example, let’s say who’s your ideal customer, right? So if it’s somebody that wants to come and sell any kind of product, like is it like your random influencer that wants to now sell their own make-up lines, like who’s the person who wants to come and use it?

00:16:12:10 – 00:17:16:17

Daniel Dabek: Exactly. So imagine this, right? You’ve got to go on Amazon, you’ve got to set up your account, all kinds of stuff. You get paid later, there’s so many hurdles with existing centralized platforms. On SafeX, you plug in some coins, click a few buttons, you’re online, that’s unlike anything. Now, the next part, you want to buy something, you want to sell something to somebody. So the only friction you have now is the Cryptocurrency part of it, but as we know, eventually people acquire Cryptocurrency. SafeX is ever becoming more available on more places to buy it. You know, we’re listing on exchanges, by now there should be about three, four new exchanges by now, trading SafeX cash and eventually for credit card, fingers crossed. The point is that when you’re an influencer selling merchandise and you want people to buy it and you want to get paid and start investing that money immediately, you need something like a SafeX marketplace.

00:17:16:19 – 00:18:37:25

Daniel Dabek: Because then people are able to pay you. You’re paid instantly and the rest is history, like that’s that. Money’s with you, you could start investing that money now. So, ideal people are people who don’t want to pay a subscription, people who don’t want to pay anything, people who just want to sell stuff, get valuable currency in exchange for it in real time. That’s literally who I’m looking to impose this marketplace as a vendor. Yeah, people who want to be on the cutting edge, people who want a second option to sell stuff, people who sell things that are legal, but they’re not acceptable. You couldn’t buy a face mask in COVID, not because it’s illegal because they don’t want you price gouging, but then what do we do? We actually need it though. So, what punish everybody because of price gougers? We won’t be able to do that, SafeX Blockchain is omnipresent. It doesn’t judge, it doesn’t know, it’s just text inside. 

00:18:38:18 – 00:19:05:12

Richard Carthon: Got it. Yeah, so it’s allowing any and everyone to come in and set up a marketplace that they can set up pretty instantaneously and then have a way to have a quick transaction and make sure that everything is going pretty seamlessly. So, it sounds like a unique Blockchain and looking forward to definitely checking it out. And I mean, by the time everyone is listening to this, it should be live and ready to go. Are there any things that people should know about as they listen to this and want to get involved and want to start using this? 

00:19:05:22 – 00:19:20:06

Daniel Dabek: Yeah, the best thing that you can do, you can download the TWM wallet on SafeX.org and then get some free coins to get going at SafeX.org/Fosset. 

00:19:20:08 – 00:19:20:23

Richard Carthon: Okay.

00:19:21:00 – 00:19:31:25

Daniel Dabek: So, if you’re watching this, that would be live, you just put your address, get the wallet, get an address, plug it in, hit the button and you’ll be on your way to start selling stuff. 

00:19:32:14 – 00:20:06:09

Richard Carthon: And we’ll make sure to drop a link in the show notes for everyone listening. And of course, everyone that’s listening, we’re also recording this, so you can watch it on YouTube. So if you haven’t yet, go check us out there, make sure you like and subscribe. But also, I just want to go another quick direction. The next decade for the world of Crypto, I think is going to be extremely exciting. And I think we’re going to see a lot of innovation, I think we’re going to see a lot more adoption. As we are leaving 2020 and heading into 2021, you know, what are some things in this space that you’re looking out for and that you think that the general Crypto space is headed? 

00:20:07:05 – 00:21:31:07

Daniel Dabek: I would say the last five years were really about analyzing what’s going to happen in this industry. My point of view, my perspective is all about the physical, the three dimensional side of things. So, we set up all these, well, however we call it, seems like metaphysical representations of the Internet. How would you represent the Internet, right? As a token. A token is a brilliant representation of an underlying protocol, it really is. The thing is that for me, though, I saw that Cryptocurrency is so important to human beings to make them more efficient, to move further down the road, doing more in the process, right? Like, you can walk a mile and do one task or you can walk a mile and do 10 tasks. And I believe that Cryptocurrency allows you to walk a mile doing 10 things, you see? Because you could connect to people worldwide, you could get access to more information, more products, more opportunities of listings, because there’s hardly any costs associated with even promoting your product that it exists that’ll let the world do more. 

00:21:32:21 – 00:22:55:24

Daniel Dabek: So, Cryptocurrency definitely lets the world do more and I’m very sure about that. There will be lots of people earning Cryptocurrency, not just buying Cryptocurrency and holding it, I mean literally earning it and building business upon it. That’s why I’m always online because I’m living proof of somebody. Yes, I’m in the software business and I’m literally my where’s our software? But by now you can buy my teacups on the marketplace. I’m going to be all about selling normal things that people use every day, not just novelty items, but also coming up with all kinds of lifestyle products and stuff like. What’s the point? This is the direction Crypto is going. It’s not going to be just buying some coin and speculating. This thing is going to end up in those payment terminals, QR code pops up, scan that thing, send some Crypto and you get your groceries. It has to go in that direction because you’ll start finding people who end up with savings in Crypto, but absolutely nothing in their checking account. And then what? If you give the option to buy groceries with the Crypto, well, like think about how you probably gave free Bitcoin to people, right Rich? 

00:22:56:08 – 00:22:56:23

Richard Carthon: Yeah. 

00:22:57:06 – 00:22:58:24

Daniel Dabek: Yeah. 

00:22:58:26 – 00:22:59:11

Richard Carthon: Definitely. 

00:22:59:13 – 00:23:03:17

Daniel Dabek: Watch this. 2014, I gave a bunch of homeless people like $20.

00:23:04:03 – 00:23:04:18

Richard Carthon: In Bitcoin? Yeah. 

00:23:04:20 – 00:23:11:28

Daniel Dabek: It’s like a .1, that’s $2,000, you see what I mean? 

00:23:12:11 – 00:23:12:26

Richard Carthon: Yeah.

00:23:12:28 – 00:23:37:14

Daniel Dabek: So imagine that person doesn’t have money in their checking account, but they got this Bitcoin. So, but now imagine the price goes 5X on Bitcoin. I know we’re jumping in Bitcoin, but who cares? So let’s talk about Bitcoin for a second, it goes 5X, right? So this 2,000 is now 10,000, that’s like a year’s groceries or more. Why wouldn’t a grocery store start taking Bitcoin? 

00:23:38:19 – 00:24:16:23

Richard Carthon: When you have enough people using a thing, people adapt. And it’s the same way that you think that we’re moving towards a lifestyle where Crypto is going to be a part of just everyday lifestyle. And you’re right, people aren’t going to have checking accounts, they’re going to have Crypto wallets. And like that’s where a lot of their money is going to be stored. And if you’re a grocery store or you’re any store that doesn’t accept it, you’re going to get left in the dust and the ones that are proactive and do it, they’re going to keep chugging along. And I do see it as the more people use it, as the demand grows, the world’s going to adapt. 

00:24:17:27 – 00:24:43:24

Daniel Dabek: Yeah, so we concur. Yeah, so if you ask my horizon, yeah, that’s it, it’s a more physical, more normal usage of Crypto. That’s what I see. People in Crypto are a smarter, stronger, faster group of people, it’s the Internet. Most is the speed of light. It moves at the speed of light literally. 

00:24:44:05 – 00:24:44:20

Richard Carthon: Yeah.

00:24:44:22 – 00:24:46:27

Daniel Dabek: There’s no generation that has ever had that experience before. 

00:24:48:19 – 00:25:31:24

Richard Carthon: Technology is advancing so fast, the amount of opportunity in space for money and even the transferability of money and the fact that you have as much power for yourself with money. We’re in uncharted territory and we’re headed to a place where I think access to knowledge and understanding how to get involved sooner than later is going to be very beneficial. And so, I really do appreciate you joining us today, telling us about SafeX and all the ways that people can get on, earn from proof of work, coins, and also be able to set up their own marketplaces very quickly with their own catalogs. But, what is a final thought that you want to leave with all of our listeners here today? 

00:25:33:20 – 00:26:47:20

Daniel Dabek: Like you said, the most important thing is to get information about Cryptocurrency, to learn how to use it, to learn practical examples of accessing the market, right? So, what I do hope to see is people tune in to Crypto. Take it slowly, but surely. And hopefully you have a product to sell or you find something that you’d love to buy and you can get some Crypto, buy it from somebody on the marketplace and experience this very real practical use case in our community, as a Crypto community. It’s not about coming to speculate and hoping you won the lottery, it’s about life and normal, everyday things, too. There’s also those lottery tickets out there, I’m sure. I don’t know which ones they are, but at least on SafeX, you could buy a steak or something if you’re in the U.S. or you could get a trowel if you’re in the United States or a teacup from my shop, you see what I mean? 

00:26:48:00 – 00:26:48:15

Richard Carthon: Yeah. 

00:26:48:17 – 00:27:00:05

Daniel Dabek: So, if you have something nice to sell, let’s go feel free to reach us. And if you needed help to get online, we’re more than happy to help.

00:27:02:28 – 00:27:15:17

Richard Carthon: I think that’s a great final thought. Everyone listening, definitely go check out SafeX as they launch and see how you can get involved. But hey, Daniel, what are some ways that people can connect with you, learn more about you, and, of course, learn more about SafeX? 

00:27:15:22 – 00:27:32:17

Daniel Dabek: You can hit up SafeX.org. Twitter is a big place we communicate, Twitter.Com/SafeX. And you can reach out to me, Twitter.com/DanDabek. D-A-N D-A-B-E-K.

00:27:34:22 – 00:27:42:20

Richard Carthon: Definitely have the links in the show notes. Well, again, Daniel, appreciate you being on the show. And of course, for everyone listening, Stay Crypto Current.