Introducing new client: Beam wallet

Mattereum’s legal–technical protocol will underpin the rollout of Beam’s second generation tokenized network.

Serdar Nurmammedov, Beam and Vinay Gupta, Mattereum

Mattereum has been engaged by global retail blockchain platform leader Beam to provide online dispute resolution for its decentralized smart-contract-based marketplace, enabling a truly global peer-to-peer market for marketing and payment services. Our core ambition is to enable business on the blockchain, creating a system of decentralized commercial law comprising smart property rights, automated smart contract execution, and reliable dispute resolution and enforcement.

Beam is turning to blockchain technology to accelerate its growth, enabling zero-cost currency conversion for consumers and a sophisticated decentralized market for retailers including Costa Coffee, Subway and Tommy Hilfiger. Since 2011 it has built a payment network that today boasts over 5,000 brick-and-mortar retailers across three countries. Beam is simultaneously disrupting payments, marketing and retail, by pioneering a model in which retailers pay marketing service providers for actual results, rather than the traditional ‘pay up front and hope’. Customers are paid for their data rewarded generously for shopping within the Beam ecosystem.

Mattereum will ensure that all transactions made using Beam’s smart contracts are legally enforceable, and that expert arbitrators are available to correctly and efficiently resolve any disputes that arise, so that Beam service providers can confidently do business with each other, regardless of where in the world they operate.

Mattereum CEO Vinay Gupta said: “Beam shows how a commercial ecosystem embedded in the real economy can run today on thousands of smart contracts with millions of transactions, and how blockchain is key to scaling this platform globally.”

Added Christopher Wray, Mattereum’s Chief Legal Officer: “Mattereum is delighted to support Beam in one of the most compelling applications of smart contracts I’ve seen.”

Beam’s Founder & CEO Serdar Nurmammedov commented, “The future of retail is in maintaining margins by driving efficiency savings. We’ve been building that future since 2011, focusing on surrounding ourselves with those at the top of their game. In Mattereum I believe we have the perfect partner.”.

Serdar Nurmammedov, Vinay Gupta and Christopher Wray are available for interview. For further information message us at pressoffice@mattereum.com.

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