Reserve is building a stable and decentralized currency that anyone can use anywhere. Currently, we provide our users in Venezuela, Argentina, Colombia, and Panama with a way to protect their money from hyperinflation.
We’re currently changing the Venezuelan financial system to allow access to US dollars. Dollar access is crucial to our users in order to cope with ongoing hyperinflation. Our team is distributed in 7 different countries in 3 continents and funded by Sam Altman and Peter Thiel personally. Before Reserve, our team members led two of the most prominent attempts to solve the problem of hyperinflation in Venezuela.
We’ve created a way for any normal Venezuelan to convert their Bolivars (the local failed currency) into US dollars and back again in our app in a couple of minutes. This means that Venezuelans can use our app to easily save and spend in US dollars, and not have to worry about their money devaluing overnight. Because of the capital controls in Venezuela, this kind of financial service is not commonly available, and our early users are extremely appreciative of what we’ve built. New users are often skeptical we can deliver on what we say our app does until they try it, and often evangelize to their friends once they have seen it work.
This is the percentage of users that are still actively using the service after N weeks from their first time trying it:
Our short-term goal is to support the entire Venezuelan economy transacting digitally in US dollars, escaping the issues posed by the hyperinflation this country has suffered in the last decade. We are aiming to serve 10M+ Venezuelans, and looking to Argentina next.
Reserve is ultimately a cryptocurrency project, but right now what we do is Cash App meets BitTorent. In the long term, Reserve aims to eliminate high inflation all around the world. Eventually, we’ll launch a currency that’s independent from the US dollar.
Things are going great for us (yes, we are proud!). As we write this, we have a long waitlist of would-be users who are getting impatient with us (publicly – like, accumulating 1-star reviews from those who are upset that they are still waiting to get in ). We are looking for individuals with a burning desire to take the challenge of growth in the midst of the fintech revolution.
Reserve is, however, a human project. We think technology is but a tool, a necessary complement, to help us face a situation with severe human implications. Our purpose requires building relationships of trust with people who have suffered, for decades, the consequences of the harshest economic shocks.
To be able to offer a level of service actually capable of building such confidence, we are assembling a service team which is more than passionate about solving problems, truly convinced that human contact is the real necessity that can’t be substituted.
We are not looking for a resume or a diploma, but a spirited top player with the drive to become the Messi of our customer support team:
Today, Reserve's users are normal people and business owners in Venezuela. We help them save in dollars and transact with low friction. They can cash-in and cash-out with PayPal, Zelle, and Venezuelan bank transfers. For example, to cash-in, users initiate a transaction in our app, then are ...