In an era where financial inclusion and decentralized technologies are becoming increasingly crucial, Angie Jones, Global Vice President of Developer Relations at TBD, offers a compelling perspective on how TBD is navigating this transformative landscape.
In this interview, she explores the genesis of TBD, its commitment to open-source technologies, and the strategic initiatives aimed at fostering innovation and inclusion across Africa and beyond.
What inspired the creation of TBD, and how does it fit into Block’s ecosystem of products and services?
At Block, our journey in developing payment systems has always been driven by a mission to connect people with the economy for over a decade, we have made progress in bringing small businesses and individuals into the financial system through both Square and Cash App. As we continue to advance in this space, the rise of decentralized technologies, particularly bitcoin, offers us a unique opportunity to extend our mission of economic empowerment on a global scale. With over a billion people worldwide still lacking access to banking services, and with two-thirds of these individuals owning internet-connected mobile phones, the potential to leverage these technologies to bridge gaps is immense. Legacy payment systems, while foundational, often fall short in addressing the needs of underserved populations. TBD’s mission is to bridge the old with the new, navigating the maze of complexity with simplifying APIs and SDKs, and filling in the missing pieces needed, in the form of trust and identity, all with open-source standards. The power of open source is that we get to collaborate with developers from all over the world, and with other businesses and institutions who share our vision for a more open financial system.
TBD’s commitment to open and decentralized technologies is evident. How do you see this commitment translating into tangible benefits for developers and end-users alike?
For TBD, developing open-source software offers significant benefits for both developers and end-users. For end-users, open-source solutions ensure transparency, security, and freedom from vendor lock-in, while ensuring that various financial applications can interoperate seamlessly. This openness also fosters trust among users, who can have confidence in the integrity and security of their financial interactions. For developers, the advantages are equally substantial. Open-source technologies accelerate innovation by leveraging collective expertise and adhering to agnostic, standardized infrastructures. This collaborative environment enhances technology quality, boosts security, and provides developers with the tools and support needed to create impactful solutions. TBD is committed to building open protocols on open standards.
What do you see as the biggest challenges facing developers in the blockchain and decentralized technology space today? How is TBD addressing these challenges through its developer relations initiatives?
One of the primary challenges in the blockchain and decentralized technology space is achieving widespread adoption and ensuring that all stakeholders—from developers to institutions to end-users—are engaged and aligned. tbDEX won’t reach its full potential unless everyone comes along: developers build, institutions onboard, and individuals use their favorite apps to interact with the financial system, that’s why we’re focused on building out our developer community. Earlier this year, we held some hugely successful workshops in Accra with a group of smart, engaged developers from across the continent. Our TBD Hackathon in Nairobi, Kenya is our next stop on the road to a thriving developer community across Africa. These events are designed to bring together talented developers from across Africa, offering them the resources and support needed to build innovative solutions.
TBD recently announced a hackathon in partnership with the Africa Blockchain Conference. Could you provide insight into the objectives behind this initiative and the significance it holds for TBD and the developer community in Africa?
The TBD Hackathon in partnership with the Africa Blockchain Conference is a strategic initiative aimed at tackling the challenges of slow and costly money transfers. By encouraging developers to create payment applications integrated with the tbDEX protocol, we are not only showcasing the potential of open-source technologies but also highlighting the importance of fostering local talent in advancing financial inclusion across Africa. This hackathon is a significant step in fostering innovation and developing secure, efficient digital solutions tailored to the unique needs of the African market.
What specific problem(s) do you hope developers will address with their tbDEX use cases?
We are particularly interested in solutions that address the pressing issues faced by many African countries, such as limited access to banking services, high transaction fees, and inefficient cross-border payments. TBD’s open-source liquidity and trust protocol, tbDEX is designed to tackle these problems by connecting users with wallet providers and financial institutions of their choice. We hope developers will leverage tbDEX to create use cases that enhance financial access, reduce transaction costs, and streamline cross-border transactions, ultimately contributing to a more inclusive financial landscape.
What are the long-term goals for tbDEX adoption in Africa after the hackathon?
Looking ahead, our long-term goal is to continue expanding our developer and partner ecosystem. We believe that the tbDEX protocol has the potential to unify three key components: the potential of the internet to democratize information, the power of internet-native currencies like bitcoin, and decentralized identity into an open, permissionless and decentralized way to onramp and offramp to and from digital currencies. More importantly, our focus is on building trust relationships between individuals and institutions, reducing risks for all parties involved, and ultimately driving down transaction costs while driving up access and inclusion.
As the adoption of decentralized technologies continues to grow, what role do you see TBD playing in shaping the future of global payments and financial infrastructure?
TBD is poised to play a transformative role in the future of global payments and financial infrastructure. By leveraging decentralized identity and the tbDEX protocol, we believe it will introduce new ways of moving money across borders efficiently and securely. Our approach to decentralized identity allows individuals to prove their identity through trusted third parties, facilitating seamless interactions across various liquidity providers worldwide. As we advance, TBD will continue to drive innovation in global financial systems, fostering a more open, permissionless, and inclusive environment for digital transactions.
