Under the Radar: Pixie
Welcome to “Under the Radar”, a weekly series where I allocate time to do some proper research into albeit under-appreciated projects and lay out my thoughts, making your life easier when it comes to supporting or investing into blockchain projects!
Briefing
Pixie are an up-and-running company, which has been established 5 years back, and having implemented live payments in 2017. Pixie is based in UK and founded by none other than former England Sevens Rugby captain Greg Barden.
For a company with an already existing product, who have yet to conduct their ICO (Initial Coin Offering), and have been operating for a good chunk of time, this is perhaps as under the radar as it gets!
Without further ado, let’s get right into it:
Thriving for nobility
Pixie’s main purpose is rather noble, in a world of tech giants which just keep getting bigger and bigger by the minute (see: Google, Microsoft, Apple). With innovation in mind, their main goal is to create a more local world through helping small businesses thrive and create a framework on the blockchain whereby they can gain an edge on their bulk-buying, profit-maximizing, global giant competition.
“So… how will they do it?” is the wrong question here. The right question would be: “So… how are they already doing it?”
Pixie have built a mobile application which, on the front end it has three main tabs:
- Discovery: The social aspect of the platform, where people congruently curate businesses and rate them, allowing you to make the best choice for your morning coffee!
- Payments: This tab allows customers and businesses to send and receive payments directly in cryptocurrencies.
- Rewards: Lastly, customers can earn points through brand loyalty and other activities, which can be spent for real in-store value. Simply put, it’s an all-in-one loyalty card.
“Almost too good to be true!” I hear you say, from the back rows. However, let’s not fool ourselves here, this company has already established themselves in several local communities and shops across the south of United Kingdom.
Pixie has been officially adopted by roughly 88 businesses in the city of Bath alone! Overall, there are 200 UK-based local shops, diners, cafes and bars which accept Pixie Pay. The plans for Pixie are even bigger, as during the next few weeks around 800 other independent businesses are set to go live and adopt Pixie as a payment and reward method as soon as their ICO softcap is reached.
Pixie Token
And finally, something we don’t see often nowadays, is a real use case for the Pixie Token (the platform’s very own cryptocurrency). This has been carefully thought out, as right now the platform allows for a “dual-wallet” feature, which could be compared to other wallets such as Revolut. This means you can hold both crypto and fiat in your Pixie account! This is currently the easiest method for conducting business-to-business and customer-to-business transactions, however it is not the least expensive in terms of fees. In the beginning, the dual-wallet feature will allow users and merchants which of crypto or fiat they would like to use, giving greater functionality and choice when using the platform!
Over time, PXE will become central to its platform, as it will be slowly introduced when crypto has generally become more stable and “mainstream”. Eventually, PXE will take over and be the sole means of conducting transactions on the platform, which will also drive down fees, and decrease transaction times! It’s a win-win really, as Pixie is getting behind some truly disruptive technology by creating what some would call the ultimate use case for a cryptocurrency!
So what are your thoughts, does Pixie sound like your cup of tea? Do you have any thoughts on who their competition might be? And finally, will YOU be a part of the revolution? Let me know in the comments below, and don’t forget to „clap” if you enjoyed the article.
Relevant links:
Official Website: https://www.pixieapp.co/
Token Sale: https://pixietoken.co/
Twitter: https://twitter.com/PixieToken & https://twitter.com/pixieapp
Medium: https://medium.com/@pixieapp
Telegram: https://t.me/PixieToken
Telegram News: https://t.me/PixieNews
Whitepaper: https://pixietoken.co/files/white-paper-40697b.pdf
Business Plan: https://pixietoken.co/files/business-plan-36f7b9.pdf
