Bitcoin — a compromise is possible?
Did you know that there are more than 750 crypto-currencies in the world? Do you know that only Bitcoin is accepted for payment? Do you know that there is only one “store” that allows you to make payments for the “second” crypto currency? No?
We will not keep intrigue and immediately say: this article is our personal, analytical material, which, in our opinion, will allow investors, clients and interested enthusiasts to penetrate a little more deeply the problems that we are trying to solve.
Really. There is not a single store in the world that accepts any currency other than Bitcoin. More correctly, there is one that takes yours Etheres, converts to Fiat and instead of you makes purchases on Amazon. But this is not a shop.
This is a big, more likely, unsolvable problem, especially since Bitcoin has high volatility, and the “speed” of Bitcoin can be made up of legends.
We have witnessed ICO several products that are torturing the illusion of introducing their own tokens as a means of payment for the mass market. Token on the basis of Ethereum, of course.
One can agree that UTrust, Monetha and STK began to take the first steps to ensure that the business received a tool for receiving crypto-currency payments. But, each of the listed has a significant drawback, which makes us say that these services can not solve the current situation — they are all a payment transport, which makes an already expensive transaction (services are calculated for an average check of $ 5–15, and when a low average check platform fee and mining fee can reach up to 30% of the check) is even more expensive by 1–1.5%. If to simplify, then Monetha is a payment service based on Ethereum, UTrust is a processing platform based on Ethereum, and STK is a rival of Apple and Android Pay, based on Ethereum. What innovations can you expect from tools that, at the start, already have strong competitors? And most importantly, the need for them, business, is questionable.
These services will work well where there is a legal base for circulation of crypto currency and in the business that is ready to spend another 5 to 10% for the output of tokens in Fiat. Do you also wonder where it is?
There are several questions, the search for an answer to which, deprives each of the companies of interest of future customers:
1. Can I instantly bring tokens to Fiat without going to exchange? — No.
2. What if the rate of the token collapses? Does this mean that I will lose money? — Yes.
3. The Token exists on the Ethereum network and is its token, what if Ethereum itself collapses or does it have another fork? Will your token fail? — Yes. — Will, together with Ethereum, your network also be unstable? — Yes
We brought these services because potential customers and investors of BEEQB often compare us to each other.
In contrast to the “competitors” BEEQB goes on a different path. We create a payment terminal that accepts Bitcoin and BEE, while the transaction confirmation on the Bitcoin network does not exceed 40 seconds (using the BEE wallet and wallets of our partners), and BEE payment is made in 1.84 seconds. At the same time, upon receipt of funds to the account, the company can immediately, rightly receive funds to the bank account without entering the exchange or making any additional transactions. So we guarantee business:
1. The legal purity of the transaction;
2. Absence of losses when converting to Fiat;
3. Independence in choosing the currency of payment acceptance;
4. The ability to pay crypto currency to other platform customers, including employees and suppliers.
An important aspect is the fact that BEEQB does not need complicated and expensive integration. It is enough to download the program to the cash register and get started.
Somewhat chaotic, but we hope that we explained why BEEQB has no competitors and why “competitors” will most likely not be in demand by the market.
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