Place/Date: Blokhus, Denmark - August 23rd, 2016 at 4:36 pm UTC · 5 min read
Contact: Ronny Boesing, Source: OpenLedger
BlockPay is a young blockchain based FinTech company from Munich that helps businesses with fast and simple payment processing services. The platform supports most cryptocurrencies. BlockPay is solving most of the security and business risks through modern Blockchain technologies and helps business around the world to accept digital payments for free. The BlockPay Pre-ICO hosted by OpenLedger began today, at 04:00 PM GMT. The pre-ICO is receiving a great response from the community and the company has successfully raised over 300 BTC within hours of the campaign going live.
The transparency and immutability of Bitcoin blockchain is a two-edged sword which the businesses and corporates are wary about. While these properties implement accountability and some form of clarity to transactions made on the cryptocurrency network, it also leaves the whole company’s financial data open to the public.
In today’s competitive world, it is essential for businesses to play their cards close to the chest. Leaving confidential transaction information in the public domain makes them an easy target for industrial espionage by their competitors.
By uncovering the ownership of certain wallet addresses, rival companies can easily gain access to information about their competitor’s operations and supply chain. Businesses are not willing to take such risk by adopting blockchain based payments at this point. Some of the other factors affecting the use of cryptocurrency and blockchain based solutions by businesses include security, network effect and volatility of digital currencies.
BlockPay is working on addressing these concerns by creating standardized point-of-sale merchant tools. Armed with ready proof of concept products, the company is now aiming to make it available to merchants and businesses after completing the development. The upcoming crowd-fundraising campaign through an ICO is aimed at raising the necessary capital to do so.
BlockPay’s suite for businesses includes a standalone application for merchants along with an integrated system to support existing e-commerce and PoS systems like Odoo and SAP. The BlockPay suite is suitable for any type of business including grocery chains, gas stations, vending machines, kiosks and more. Customers can choose to pay for their purchase with digital currencies like Bitcoin, Ethereum, Steem, Dash, Bitshares etc. using BlockPay’s Echo wallet application. BlockPay suite also supports payments from wallets like Mycelium, Jaxx, Circle and Dash.
Echo Wallet is a multi-currency, multi-asset wallet that also doubles as a secure communication application. Merchants and customers can use Echo to send secure voice, video and instant messages over an encrypted channel.
While explaining the features and advantages of Echo, Christoph Hering the CEO and co-founder of BlockPay says,
“It solves two major problems of our time: Privacy and Financial freedom. First, Echo protects your personal chat, video and voice messages against hackers and censorship. Second, Echo gives you the choice to manage multiple currencies at your fingertips. Transfer takes 3 seconds or less and thanks to modern blockchain technologies Echo users can register their desired username on the blockchain with just a few simple taps.”
BlockPay is available for merchants and businesses at zero cost with support for over 44 different languages.
OpenLedger is working with BlockPay to facilitate the crowdfunding process. OpenLedger has launched the Pre-ICO on its ICOO economic enterprise engine starting 04:00 PM GMT on August 23, 2016. The actual public ICO is set for early 2017 and it is being organized in cooperation with OpenLedger decentralized exchange platform, ICOO and CCEDK ApS – a Danish company specializing in bootstrapping startups.
CCEDK is in the forefront of BlockPay ICO by offering a range of services including escrow, asset and BLOCKPAY token distribution, media coverage, ordering module and more. The funds raised during the ICO can be monitored at all times on OpenLedger’s dedicated escrow account ico.blockpay. Bitcoin received during the ICO are stored in a multisig escrow account only to be accessed at the end of the event.
BlockPay Pre-ICO tokens can be bought with BTS, BTC, ETH and SBD. The platform has a built-in ShapeShift enabled conversion module to allow those willing to invest in other digital currencies by converting them to BTC. The ICO will end once all the 5,000,000 BlockPay tokens set aside for the crowdfund are sold.
OpenLedger is a peer-to-peer cryptocurrency platform acting as the host, framework and toolkit for constant innovation. Designed for high-speed transactions, it allows users to securely trade assets in near-real time at ultra-low fees. OpenLedger is built on top of the MIT-licensed Graphene technology of BitShares 2.0 and it acts as the foundation for Decentralized Conglomerate (an ecosystem of interlinked and mutually-supporting companies) also known as the DEX – The Decentralized Exchange.
Know more about BlockPay at – https://www.blockpay.ch
Know more about OpenLedger at – https://www.openledger.info/
BlockPay ICO page – https://blockpay.ch/newsroom/investor-relations/
BlockPay ICO on CCEDK – https://www.ccedk.com/ico/blockpay
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Disclaimer OpenLedger is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only.