Pi Network wants to make crypto as simple as cash and 60 million people are already in originally appeared on TheStreet.

Imagine a currency that works like cash but is digital, fast, and something your friends are already using. That's the pitch behind Pi Network, a crypto platform with over 60 million users that's trying to solve the biggest issue in crypto: usability.

Nicolas Kokkalis, the project's founder and Head of Technology, says it all started with frustration.

"We started Pi six or seven years ago with a strong belief that cryptocurrencies are the next step in currencies," Nicolas said.

But in 2018, using crypto felt like solving a puzzle. Wallets were hard to set up, user interfaces were clunky, and for most people, it wasn't worth the effort.

"We embarked to fix this," Nicolas explained. "We realized user interface wasn't enough -- we had to build our own cryptocurrency from scratch and let people mine it from the start."

That effort became Pi Network, a mobile-first crypto platform where users mine coins by checking into an app daily -- no expensive rigs or technical knowledge required.

"It's a social network with a cryptocurrency at its core," he said.

Unlike many blockchain projects that focus on speculation or trading, Pi's focus is on making crypto useful in everyday life. Think paying for coffee, sending money to friends, or interacting with NFT and DeFi apps -- all within a simple interface.

"Because of the large number of users, it makes sense to create apps that everyday people can understand," Nicolas noted.

Instead of chasing the latest token fad, Pi aims to feel more like a mobile banking app -- with crypto under the hood.

Pi's real hook might be how familiar it feels. Millions of users already own Pi, and the network grows mostly through word-of-mouth -- not hype or massive ad spend.

"It's simple because there's a large number of people who already own and mine Pi," Nicolas said.

"If your friend says, 'I'm using this app, here's an invite, I'll help you set it up,' that reduces the barrier to entry," he added.

For traditional investors wary of crypto's anonymity and lack of compliance, Pi offers a rare differentiator:

"Every address, every wallet, is identity-verified," Nicolas emphasized.

That level of KYC (Know Your Customer) across the board is practically unheard of in crypto -- and it may be why institutional investors are finally taking a second look.