Bolt + Wyre = The Birth of DeComm
Apr 7, 2022 | Business
Today, Bolt is renowned for one-click checkout. But in 2014, anyone we pitched heard a different concept: One-click crypto.
In 2013, I co-founded the Stanford Bitcoin Group with some friends, and soon, I became obsessed with Bitcoin and cryptocurrency. Eventually, I dropped out of school to focus on it full-time.
Out of that period came a rather simple business idea: One click purchasing of crypto, hosted storage, and the ability to send crypto to friends. We spent nearly a year building the tech and traveling the country explaining to banking partners what crypto was. It was rough, but about a year in, we had an epiphany: crypto couldn’t be one click then, but neither was ol’ checkout!
Maybe we could start there—and that’s how our one-click checkout vision was formed. Today, eight years later, we’ve come full circle—with crypto’s largest private merger to-date. I’ve known the Wyre team since early days. Through hard work and persistence, they built the leading crypto infrastructure provider out there, powering many of our favorite crypto companies. Bolt and Wyre began to realize that together, one plus one would equal three.
So we decided to join forces! This marks the true beginning of DeComm—decentralized commerce. Bolt’s tens of millions of shoppers will unite with Wyre’s blockchain developers around the world, creating the world’s first and only one-click crypto experience.
Bolt could have always built the technology ourselves, but we decided we shouldn’t wait and do that. Instead,;we should team up with the best, because the world needs easy crypto now more than ever.
This acquisition will transform digital commerce, and it represents the biggest evolutionary step Bolt has ever taken as a company. Bolt + Wyre will supercharge shoppers, businesses, and developers, making crypto frictionless and simple. Every Bolt retailer and shopper will be able to use cryptocurrency easily and seamlessly, which means that millions of Bolt users will be able to buy real stuff with crypto. Developers will be able to implement services bridging fiat, crypto, and commerce.
It is also a monumental moment for me personally. Back in 2014, when I wrote the first plan for what became Bolt, cryptocurrency was a key part of the vision. Back then, the union of crypto and checkout was just an idea on a pitch deck on my laptop. I knew it would be tough and it has proved even tougher than I imagined. Now Bolt is now all-in on crypto, which feels so right.
This is the real beginning of DeComm—and a transformative moment for both commerce and crypto. Onward!