Blockonomics: Bitcoin and E-Commerce Payment Solution

Since far back as the 80s, e-commerce has proven to be a very competitive market as much as the physical offline market. The rise of e-commerce companies such as Amazon, Alibaba, Jumia has shown the limitless potentials held by this online venture. Almost 90% of the human population above 16-year-old have ordered one thing or the other from an online store. Cryptocurrency has always sought to find it's way into every aspect of transactions that exist. Today we witness dozens of projects aiming at integration of Fiat-Cryptocurrency exchanges as well conversions between currencies in order to foster the adoption of cryptocurrency as a mean of payment across all platform irrespective of which currency the user holds.

I came across a post recently by @techblogger Read Here Where it was mentioned that Samsung now receives cryptocurrency as payment in the Baltic States. An amazing photographer friend of mine @sallybeth23 who is having a great time taking amazing pictures in Costa Rica You can check out her posts here also mentioned asides Costa Rica being a beautiful place, the workers there will soon be allowed payment in cryptocurrency. These are wonderful news for cryptocurrency enthusiasts.

It is only a matter of time now before the much talked about cryptocurrency becomes a standard means of payment across every major platform we know. You will soon be able to buy groceries, pay for a movie ticket, even buy gumballs with cryptocurrency. The reason behind this is not far-fetched. With Cryptocurrency, there are many advantages to enjoy including:

Low risk of fraud during transactions
Lower transaction fees compared to other payment options
Privacy issues are not a concern anymore
Maximum security guaranteed by secured blockchain technology
Cryptocurrencies can perform an immense number of transactions at a go.

The value of Bitcoin in the field of E-commerce and online payments is promising, after all. Whether the ease of money transfer, less paperwork involvement, highly secure, the efficiency of currency type transfer from one to another, or other abovementioned benefits over traditional money transfers; digital currencies like Bitcoin are helping both private users and online merchants to experience a whole new world of monetary exchange with complete ease. Source

Despite the progress and current achievement cryptocurrency has made since it's inception, it is quite necessary to point out some issues that hinder the full adoption of cryptocurrency in the commercial world. Some merchants as well other platforms are yet to allow cryptocurrency as a means of payment and their reason can be attributed to the highly volatile nature of cryptocurrency. We witnessed a jaw-dropping decline in the value of bitcoin at the beginning of this year, this event has raised fears and doubts in the hearts of prospective users, while cryptocurrencies generally try to get stabilized, it is important to note that this volatility does not only affect the cost of purchasing a product or service, it also affects the transaction fees involved in doing so. While the transaction fees for dealing in cryptocurrency is low, it is quite unstable and not fixed.

Another surprising reason why cryptocurrency has not been fully accepted as a means of payment is the concept of viewing cryptocurrency as an asset rather than a digital currency. The first time I heard about cryptocurrency from a friend was that I could 'invest' in some coins and leave it to grow. Many individuals are also leaving their coins to grow and are not willing to spend it as a means of payment during transactions. Despite the highlighted issues, the benefit of using cryptocurrency as means of payment far outweighs the issues at hand, benefits such as freedom in payments, relatively low transaction fees, security, speed and global access to transaction around the world are reasons enough for traders to accept crypto as a means of payment.

Introducing Blockonomics

In their own words -

Blockonomics is an industry-leading payment processing system for merchants accepting Bitcoin. Our aim is to provide our users truly decentralized, trusted and secure, completely permissionless, straight to wallet Bitcoin payment solutions. We view ourselves as strong believers in decentralization and cryptography. Source

Simply put, Blockonomics is a payment solution for merchants who are already in tune with cryptocurrency as payments. They offer several tools for merchants to ensure hassle-free, easy and seamless transaction on their platform. The acceptance of cryptocurrency made possible by Blockonomics has produced a positive impact on sales generated by cryptocurrency.

Blockonomics offer cheap transaction fees on a secured blockchain platform eliminating middlemen which in turn enables direct and instant payments to merchants' wallet. The BCK token is utilized by merchants and customers enabling them to make payments across Blockonomics powered platforms all over the world without incurring extra payment charges. The BCK utility token supports BCH, LTC, and ETH and Lightning Network integration. Blockonomincs a decentralized and permissionless cryptocurrency payment solution has been providing solutions as far back as 2015 with features such as Wallet Watcher and Blockexplorer to merchants and consumers in making cryptocurrency transaction easier.

Click Here to watch an explanatory Video Source

Why Blockonomics?

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Blockonomics has made cryptocurrency payments easy. Providing users with products for easy payment solutions online. With Blockonomics, users can accept cryptocurrency payment on e-commerce websites, users integrate Blockonomics into their e-commerce stores with plugins, buttons, APIs and shopping carts from Blockonomics. Other Blockonomic features include:

Bitcoin Wallet Watcher: With this feature, users can monitor and access their bitcoin address/xpub simultaneously. Email notifications are also provided for transactions. Graphical vies of balance history is provided for users for smart preview.
Peer to peer invoices: This is the easiest way to send a Bitcoin invoice without worrying about the fluctuating price. The invoices are also encrypted, enhancing privacy.
BlockExplorer: One of the popular and reliable Blockexplorers in Bitcoin. Lightweight, fast, and allows the user to query multiple addresses. Pioneer and leader in Bech32/Segwit adoption.
Directly to wallet merchant service: Allows merchants to accept bitcoin directly to their HD wallets. No approvals/KYC required. Plugins for popular e-commerce platforms like Woocommerce, Prestashop
Send bitcoin via email: A decentralized way to send Bitcoin to your friends and family via email. No Bitcoin keys are stored on our servers. Uses split key generation to achieve distributed trust.

Token Sale

Token Symbol: BCK
Decimals: 18
Token Contract Address: 0x4cBA2E2e8E06076126C60B43Bf48fEA0b5D80c19

Pre-Sale Information

Sale Starts: 1 July 2018
Sale Ends: 31 July 2018
Token Allocated (Inc Bonus): 450,000,000 (45%)
Bonus: 20% bonus
Target/Cap: $7.5m
Individual Cap: max $150,000
Effective Price/BCK: $0.01666667

Main Sale Information

Sale Starts: 1 August
Sale Ends: 15 August 2018
Token Allocated (Inc Bonus): 100,000,000 (10%)
Bonus: No bonus
Target/Cap: $2m
Individual Cap: max $40,000
Effective Price/BCK: $0.02