Blockchain & Crypto | Toronto, ON | Founded: 2014 | Employees: 37 | www.decentral.ca
PHONE: (888) 650-3796 | LINKEDIN PROFILE
Last updated December 3, 2018 | To download a PDF version, click here.
Company Overview
Decentral Inc. is an innovation hub for disruptive and decentralized technologies based in Toronto, Ontario that currently focuses on software development. Decentral is responsible for Canada’s first two-way Bitcoin ATM, the smart contract platform Ethereum, and the Jaxx Liberty blockchain interface. The company aims to lead the Canadian blockchain market into the future by playing host to community-driven events in the fields of fintech, blockchain, cryptocurrencies and decentralized technologies.[1]
[1] https://decentral.ca/history.html
Senior Management
Anthony Di Iorio: Founder and CEO (2014-Present). Previously: Founding member and Executive Director, Bitcoin Alliance of Canada (2013-2014); Founder and early-stage funder of Ethereum (2013-2015); Advisor to Fintech Cluster at MaRS Discovery District. Education: B.Com. in Marketing (1998), York University.
Nilang Vyas: Chief Technical Officer (CTO) (2016-Present). Previously: Front End Web Developer, Keyora Inc. (2014-2016); Front End Developer, Keyora Inc. (2013-2013); HTML Developer, Mohawk College (2012-2012). Education: Diploma in Software Technology, Computer Software Technology (2013), Mohawk College; B.C.A., Computer Software Engineering (2011), Gujarat University.
History
Anthony Di Iorio was an early believer in bitcoin and blockchain in 2013, as he recognized the paradigm shift from the Age of Computing, to the Age of Information.[2] His involvement in the space led him to create Decentral, which would become an avenue for software development, and Canadian exposure to decentralized technologies. In late 2013, when shown the Ethereum whitepaper by Vitalik Buterin, he immediately recognized the value and became dedicated to building a team to pursue the Ethereum project. This was the beginning of Decentral, and a technology that would have a serious impact on the world. In January 2016, Decentral released the Jaxx Blockchain Interface, a multi-token blockchain software wallet that provides a unified experience across 9 platforms and devices.[3]
[2] https://www.linkedin.com/in/anthonydiiorio1
[3] https://jaxx.io
Funding
Decentral Inc. seems to have no record of funding from an outside party. The firm was likely bootstrapped by Founder, Di Iorio, as he provided much of the funding for the Ethereum project, which was the first major project that led to the creation of Decentral.
Key Corporate Developments
Press Releases: https://blog.decentral.ca
Sept 12, 2017: Addison Cameron-Huff Hired by Decentral Inc. – First In-House Blockchain Lawyer in Canada
March 8, 2018: Decentral Inc. and Gowling WLG Form Strategic Blockchain Alliance
May 31, 2018: Decentral Appoints Gamification Pioneer Yu-kai Chou as Chief Experience Officer Visionary to Lead Gamification of Jaxx Liberty Platform
Business Highlights
Strategy
Decentral has two main business lines regarding their strategic position in the market:
- Software Development – Decentral leverages talented developers to deliver value-added products for the decentralized technologies space. To take advantage of the growing interest in cryptocurrencies and blockchain, they created Jaxx Blockchain Interface, what they call their flagship product.
- Marketing/Branding – Another line of their strategy is the marketing/branding efforts that they undertake to grow the awareness of the blockchain space and to Decentral. They have hosted multiple “blockchain parties,” Bitcoin Expos, and jointly run events with MaRS. They played host to over 100 events by 2014. The events are networking, recruiting and a learning opportunity for individuals and organizations interested in the burgeoning industry. This strategy is clear in that the goal is to grow awareness of the industry in Canada, but also bring awareness to their brand as being thought leaders in the space.
Products/Pricing
- Two-Way Bitcoin ATM (BTM): Decentral was responsible for the first Two-Way Bitcoin ATM in Toronto, and the second in Canada. It is bidirectional in that you can exchange fiat currency to Bitcoin, and Bitcoin for fiat currency. BTM’s typically charge significantly higher withdrawal fees (7-10%) than other methods of buying bitcoin, such as a digital-asset exchange, but they give an in-person experience that some people can connect with.
- Jaxx Liberty Wallet: Decentral’s flagship product, the Jaxx multi-asset cryptocurrency software wallet, was initially designed by industry pioneers for their own use. Jaxx is accessible on multiple operating systems, including iOS, Android, Chrome Extension, Mac, Windows and Linux desktops. The worldwide Jaxx user base has grown to over 600,000 active users. Jaxx Liberty is a new release of the original Jaxx Wallet, with a set of new features and as of writing supports over 70 digital assets.[4] It consists of the following new features:
- Unified dashboard – view assets in an easy-to-use interface
- Portfolio module – allows you to stay on top of your digital asset value
- Blockchain news – launchpad to aggregated news
- Key market data – price movement, market cap, key trends
- Block explorers – track the raw balance and transaction data across multiple blockchains
[4] https://jaxx.io/features.html
Technology
Decentral has a team of full stack developers, software engineers, DevOps Engineers, and support from technical support analysts. It leverages its technical abilities to deliver software solutions like the Jaxx Liberty Wallet to hundreds of thousands of users around the globe.
Distribution/Logistics
Decentral has a large physical office located at 292 Adelaide Street West, which they use to host their events. The BTM is located at 119 Spadina Ave, Toronto, which was moved to this location for easier access 7 days/week. The delivery of their Jaxx Blockchain Interface is completely digital, you can download it on any of the main operating systems and can instantly use their software.
Marketing
Decentral maintains an active role on their blog, which allows them to keep the community updated on their on-going initiatives. They leverage industry partnerships to grow their consumer base and brand awareness through positive relationships with large name players in the industry including Coinbase, BitPay, Bittrex, QTUM, Bancor, to name a few.
Competitors
The way that Decentral leverages their software development and event planning capabilities is difficult to replicate. Due to their unique business model, it is tough to find direct competitors to Decentral. However, there are many competitors offering similar solutions to the Jaxx Liberty Wallet. There are both hardware and software wallets, with software wallets being more of a direct competitor to Jaxx. Here are two other software wallet competitors:
- Exodus – (United States) Exodus’ suite of products include a portfolio, exchange, and a software wallet for digital assets that supports over 90+ cryptocurrencies
- Electrum – (Berlin, Germany) Electrum is a fast software wallet for desktop and mobile users and offers integration with hardware wallets. It has a long list of supported features to making it one of the most flexible wallets.[5]
[5] https://blockgeeks.com/cryptocurrency-safe
Corporate Profile Created By: Jack West, Ivey HBA2