Crypto-economic needs crypto-infrastructure
Every day, each of us buys something. This procedure is so “standard” that we no longer think about it. Everything happens automatically.
We choose the goods in the store, go to the cashier, the seller considers the total amount, calls it to us and we pay either by card or by cash. We will be given a change, or asked to enter a PIN. It’s simple.
As for online shopping, here too everything is ordinary — choose the product, add it to the basket, you confirm the order, go to the processing center site, enter the details of the card, click to pay, go to your bank’s website, enter the SMS code, click “accept”. You are waiting for the transfer to the site with confirmation of the fact of payment.
For many years, the “retail economy” has been working. We are accustomed to this. And, it would seem, do not invent something new, when the old works perfectly. But this is not so.
The fact is that the payment system is not obsolete, but the payment system itself. That is what happens after your payment.
If you look at the deal from the point of view of business, then we will see the hidden problem of an outdated system.
In each country the procedure is slightly different, but, in general, it looks like this:
Cash payment: At the end of the working day, the seller fixes the turnover, collects the funds, transfers them to the bank or calls the collection machine, whose services are not free, fills in a certain document and transfers money to the account.
Non-cash payments: Money, minus a certain amount, often from 3 to 10%, goes to the company’s account at least the next day.
Online payments: Processing company takes up to 5% of the amount, the transfer does not happen instantly: for the withdrawal to the account there must be accumulated a certain amount that such transfer would be economically profitable. For the transfer to the account the company is likely to lose a small part of the profits. The bank will withdraw its interest … As a result, the company will pay up to 20 cents from each received dollar and receive its money only 3–10 days after the date of payment.
Money is a very expensive commodity. The fact that the company gets access to funds after a long time after the transaction makes it impossible for the company to react quickly to changes.
And if you start making any changes, then you need to change the very procedure of the transaction. Namely — to increase the speed of money flow from the client to the company. It is necessary to make sure that the seller receives his money as quickly as possible, best if he receives them instantly.
Let’s be honest, the modern banking system is not able to provide such a speed of payments, and it does not have such a task.
The solution, of course, lies in the use of cryptocurrency reckoning and it must be understood that this is the alternative way of economic development. However, before taking into circulation the cryptocurrency, business is obliged to take care of the implementation of the infrastructure for making transactions using cryptocurrency. For cash payments, there are cash desks, which everyone can easily buy. For non-cash payments, you can rent a payment terminal. For online payments, there are many services, among which for sure every company will find one that fits it. We want to say that to implement any type of payments in your business there is a solution that makes this implementation relatively simple and fairly operational.
Cryptocurrency has no infrastructure. Cryptocurrency payments can not be used by the business, because, at the moment, there is no solution on the market that can provide automatic acceptance and confirmation of payment from the client. Understanding this, we are developing BEEQB.
BEEQB is an infrastructure solution that helps businesses automate the work with cryptocurrency. BEEQB includes a powerful business management tool and new cryptocurrency — BEE, which is specifically designed to make payments.
The principle of operation of BEEQB can be compared with the principle of payment systems Visa or MasterCard. That is, the seller enters the payment amount, the terminal confirms the transfer of funds, which is the completion of the transaction. At the same time, the amount of payment instantly enters the account of the seller and he can dispose of it at his own discretion.
To date, there is no solution that could be called a competitor to BEEQB. Therefore, BEEQB will become the parent of the new Crypto-to-Market industry.