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Today, we have the privilege of speaking with Philip Milestone, a seasoned legal expert and the current General Counsel at Valora, a pioneering mobile crypto wallet based in the San Francisco Bay Area. With a mission to unlock financial opportunities globally, Valora is at the forefront of enabling seamless access to web3 applications and facilitating global payments.
Philip brings a wealth of experience from his previous roles, including Senior Legal Counsel at Zuber Lawler, where he led teams focused on privacy and data security, and served as the Founder and Managing Attorney of Milestone Legal, P.C. His extensive background spans multiple jurisdictions, and he has worked with both startups and established companies across a variety of sectors, including blockchain, privacy law, and corporate governance.
Before his venture into legal counsel, Philip honed his skills in various prestigious firms and has held significant positions such as Vice President & General Counsel at Excelligence Learning Corporation and Founding Partner at mod4 LLP. His academic credentials are equally impressive, holding a JD from the University of California, Berkeley, and a BA in Philosophy from the University of Wisconsin-Madison.
Join us as we explore Philip's insights on the evolving landscape of cryptocurrency, legal challenges in the blockchain space, and his vision for the future of financial accessibility through innovative technologies. Welcome, Philip!
James (CryptoBit Mag): To start, could you introduce yourself and share some insights about the platform? What inspired its creation, and then we can take the conversation from there?
Philip Milestone: Sure. I'm Philip Milestone, General Counsel at Valora. Valora is software that allows people to manage their crypto assets. In everyday language, we're a wallet, but I think we're a lot more than that. Wallets have their place, but I feel like that term is misused in web3. I think people think it's just a place where you store assets, and we want to be much more interactive than that.
Valora was born on the Celo blockchain, but now we're multi-chain. It's a place where you can on-ramp and off-ramp your fiat currency. You can swap tokens, we've got access to a couple of different liquidity pools that allow you to find some yield, and we allow you to access a bunch of different dApps with which we integrate, depending on how you want to interact with crypto assets.
We're mobile-first; we don't have a desktop interface. So find your App Store or Play Store, and you can find us there.
James (CryptoBit Mag): What differentiates your platform from other competitors?
Philip: I think we are beautiful in a way that our competitors aren't. A lot of wallets try to be many different things to many different people, and they tend to get bogged down with features. If I want to go to a hardware store and buy a tool, if I need a hammer, I don't want it to also be a screwdriver and a flotation device. I just need it to do one thing.
Our wallet is accessible in a couple of different ways. It's easy to do everything - to on-ramp, off-ramp, swap, stake, etc., but it's also intuitive and easy to understand. It's the type of wallet that I think a lot of people who are new to crypto would be very comfortable with. That's part of our DNA - to democratize access, to increase distribution and knowledge of crypto assets. Keeping the interface simple is something we do really well.
James (CryptoBit Mag): This is a live product, correct? People can download Valora now?
Philip: Yes, people can download Valora. You can go to your App Store or Play Store. It's not available globally, of course. There are jurisdictions that are different, but if you're in the United States, Nigeria, Vietnam, Brazil - feel free to go for it.
That's one of our offerings. The other is a new product we're calling Mobile Stack. It's the abstraction of the wallet software - think of it as the Lego blocks, the composable blocks of how to build a native web3 application. We're trying to not only increase access to crypto assets through our application but also increase access to the tools necessary to build crypto applications.
We want to democratize access for web3 mobile apps. So people who have an interesting protocol, or folks who have nothing to do with the protocol but want to access it in an easy and intuitive way, we'll give you the basic building blocks, and then you can run with that. We're trying to shorten the runway between ideas and mobile applications.
James (CryptoBit Mag): Is Mobile Stack a separate product? Is it live currently?
Philip: Mobile Stack is a separate product that we are building right now. We'd like people to contact us, and we will work with them to implement it. We're doing that with a number of partners now to refine the prototype and get the product to a point where we are very comfortable having it be publicly accessible. So Mobile Stack is new - by all means, if you want a mobile application, contact us. Just keep an eye on the space. Valora you can download immediately; Mobile Stack, talk to us, and soon we'll be able to work with you.
James (CryptoBit Mag): Is there anything on your roadmap for the future for both of these that people would like to hear about?
Philip: For Mobile Stack, the roadmap is to get more of it built and on-chain. Whether it itself is on-network or the software sort of makes it easy to access, there are definitely milestones there to get us to that happy place.
For Valora, I think you should find new ways to interact with your assets online. In my experience - I don't have a financial or technology background, I have a legal background - I can sometimes get lost in details when presented with ways to interface with crypto. It's just not how my brain works. I like to be straightforward. So I would keep an eye on Valora to find easy ways to do things that people are describing in the industry. People talk about yield farming and staking, and peer-to-peer payments - it should be simple. And with us, it is. I would say, watch our product, because we're going to make even more things simple, easy, and accessible.
James (CryptoBit Mag): How do users secure funding for your product? If an average person wants to add to their wallet, do they need to transfer funds from a platform like Coinbase, or can they deposit directly?
Philip: We partner with third parties like Ramp, MoonPay, and Coinbase. You can use any of these to bring either fiat or you can move tokens over to us. Some integrations are native in the app, so you never leave Valora. Others might require you to leave the app briefly. It's a mix and match depending on the provider.
James (CryptoBit Mag): For security, how can people know that you guys are secure with their funds?
Philip: We don't hold the funds. It's completely self-custodial. One should always be careful with which tokens they buy, and you should be knowledgeable about what that chain does and who has access to it. Don't write down your seed phrase, that kind of thing. But we're a purely self-custodial wallet. Your money is safe from us because we can't touch it - it's never ours. We are just the gateway. So, "not your keys, not your crypto" applies here.
James (CryptoBit Mag): Is it simple for people to transact, send cryptos to other wallets, to other people with your platform?
Philip: Yes, it's very simple. For traditional wallet-to-wallet transfers, no problem. If you have an address, that's great. If you don't want to deal with multi-digit gibberish, you can send it with a phone number through us. We also have the capability to send what we call a "live link." You can set up the transfer, you'll get a link, and you can send that to somebody via text message, and they can grab it from there.
We're trying to simplify that process. You don't need to know their wallet address, which quite honestly, nobody has memorized. Phone numbers we do, and live links are just as easy as a text message.
James (CryptoBit Mag): So the phone number is attached to someone else's account on your platform?
Philip: Yes, that's a solution we have right now where folks who have their phone numbers in can send to and from. And like I said, the live link can be sent via text message, and then that's outside of our system, but the text message involves instructions for them to go get a wallet and pull down the funds.
James (CryptoBit Mag): Are users able to name different contacts through your platform? Say you have a friend - are you able to name that person in the wallet itself?
Philip: Yes, you can work with your contacts and name them within the app.
James (CryptoBit Mag): Is there any social media people can follow you on?
Philip: Yes, we are on X (formerly Twitter) at @valora. We're on Farcaster at @valora.xyz. You can also check out our website, valora.xyz, or mobilestack.xyz. We've got all our socials on there.
We are also on Discord. We steer a lot of our support through Discord, so people can contact us there. We invite that discussion. It's a great forum with both community members and employees who are there to guide.
I don't think Valora has an official Telegram account. You can write to me personally at @PhilipMilestone on Telegram if needed.
James (CryptoBit Mag): How many chains are you on currently?
Philip: Off the top of my head, we're on Base, Arbitrum, Celo, Ethereum, and I'm sure I'm missing some.
James (CryptoBit Mag): Is there a way to add additional chains, like in MetaMask?
Philip: Our team is working to add chains all the time. The individual user can select among which chains they want to use and cross-chain between whatever chains we support.
James (CryptoBit Mag): Does your platform support cross-chain transfers from Ethereum to other blockchains?
Philip: Yes, I believe that functionality is available.
James (CryptoBit Mag): What are your fees like?
Philip: It depends on what you're doing. We have a lot of different partnerships with various providers who are making our experience gasless in some cases. I would invite anybody to go on and take a look at our fees because we're very upfront about it. We'll show you what you're paying and where it's going. There are a lot of situations where you can find us to be gasless or rather inexpensive.
Philip: (Concluding thoughts) As a lawyer, I need to tell everybody: always do your own research, this isn't legal advice. But I like to think of Valora as an entry point to crypto, similar to how you might recommend a good introductory science fiction book to someone new to the genre. If someone comes to me and says, "I'm just not big on crypto. How do I do this? What's the best way to go about it?" I'd send them to Valora. Let them set up a wallet - we walk you through it. We have a huge support system where people can ask questions, they can read our blog posts, and our onboarding process is intuitive and straightforward. We are truly trying to onboard the next billion users, and the way we're doing that is by keeping it understandable.
All interview transcripts have been meticulously transcribed by Stylo.Network, ensuring accuracy and clarity in every detail.
https://www.youtube.com/c/ValoraApp/videos
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https://discord.com/invite/valora-886972503560433675
Valora isn't just about holding your cryptocurrencies; it's about living with them. Here's what makes Valora a standout in the crowded crypto wallet space:
User-Friendly Interface: Whether you're a seasoned crypto trader or stepping into the blockchain world for the first time, Valora's design welcomes you with open arms. Its mobile-first approach means you're engaging with your crypto through an interface that feels as natural as using social media.
Multichain Compatibility: Valora isn't confined to a single blockchain. It supports multiple chains, meaning your crypto portfolio can be as diverse as your investment strategy demands.
Grow Your Crypto: Beyond just storing, Valora enables you to engage with your assets actively. Think of yield farming, staking, or lending - these aren't just terms; they're everyday tools in Valora that help your crypto work for you.
Stablecoin Accessibility: With easy access to stablecoins like USDT, USDC, and more, Valora ensures you can always have a piece of the crypto pie that's tied to real-world currencies, offering stability amidst the crypto volatility.
Send Crypto Like a Text: Valora simplifies transactions. Sending crypto should be as easy as sending a message, and with Valora, it is.
Mobile Stack Integration: For developers and users alike, Valora's introduction of Mobile Stack opens doors to seamless, user-friendly web3 mobile apps. This initiative isn't just about using crypto; it's about integrating it into every aspect of your digital life, from social interactions to personal data management.
At its core, Valora's mission is to democratize finance. By providing tools that make crypto not just accessible but usable in everyday scenarios, Valora aims to bridge the gap between traditional finance and the future of money. This vision is realized through:
Innovative Features: From in-app token swaps to integrating with dApps, Valora keeps expanding its ecosystem, ensuring users always have the latest tools at their fingertips.
Community Engagement: Valora isn't just a service; it's a community. Through various initiatives, like supporting UBI programs or empowering local economies through crypto, Valora shows that finance can be a force for good.
Continuous Evolution: With regular updates enhancing security, functionality, and user experience, Valora stays ahead in the fast-paced world of crypto tech.
Whether you're looking to dive deep into the crypto waters or just test the temperature, Valora offers a platform where your financial journey can be as adventurous or as straightforward as you like. With its commitment to ease of use, security, and innovation, Valora isn't just preparing us for the future of finance; it's creating it.
Valora is a mobile-first cryptocurrency wallet designed to make managing your digital assets intuitive and accessible. It allows users to send, receive, swap, and interact with various cryptocurrencies on multiple blockchain networks.
Valora can be downloaded from the Apple App Store or Google Play Store. It's available in several countries including the United States, Nigeria, Vietnam, and Brazil, though availability might vary based on local regulations.
While Valora is often referred to as a wallet, it aims to be more interactive, offering services like token swapping, access to liquidity pools for yield, and integration with various dApps, making it a comprehensive platform for crypto management.
Yes, Valora supports transactions across multiple blockchains like Ethereum, Celo, Base, and Arbitrum, allowing users to manage assets on different chains seamlessly.
You can fund your Valora wallet through third-party services like Ramp, MoonPay, or Coinbase for fiat-to-crypto conversion, or by transferring cryptocurrencies from other wallets.
Valora employs a self-custodial model, meaning you control your funds with your private keys. This approach ensures that only you can access your assets, enhancing security.
Sending crypto in Valora is straightforward; you can send to other Valora users via phone number or use a "live link" for transactions, making it as simple as sending a text message.
Mobile Stack is a new product by Valora aimed at developers. It provides the foundational software components for building native web3 mobile applications, designed to democratize the creation of mobile crypto apps.
Fees can vary depending on the transaction type. Valora strives to be gasless or low-cost for many operations through partnerships, but always check within the app for current fee structures.
Valora has an active presence on social media platforms like X (@valora) and Farcaster (@valora.xyz). You can also join their Discord for community support, or check out their website at valora.xyz for more information.
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