Introducing the FIAT layer

Cryptocurrency adoption is an uphill battle and we understand that. With plans for making the book purchasing process easier and smoother, we have also been taking in the feedback from our users about what the platform needs.

We know that for cryptocurrency newcomers the task of exchanging FIAT currency for tokens can be a daunting one. This has been a challenge that we have been planning to tackle for some time — to purchase books with FIAT, but retain the benefits of the blockchain technology.

We are proud to announce that we are now supporting the purchase of books on the platform with your regular credit/debit cards on our Android version of the eReader app.

Go to the Play Store and update your app to use the new functionality!

We have talked about this solution since the beginning and we call it the FIAT layer, as it is more of a layer than a direct transaction.

You are still able to purchase books using cryptocurrency, as this is an optional thing.

In fact, the cryptocurrencies will still be present even when you are paying with your credit card.

The reason for this is that only PBL tokens can be used to interact with the smart contracts that govern each book. This is how we built the ecosystem to always retain the benefits of the blockchain technology.

We have incorporated the exchange process “under the hood” and the way it works is it automatically exchanges your selected currency for PBL tokens and purchases the book. This all happens behind the scenes as the whole process looks like most regular credit card payments online.

This will make the process of purchasing books a lot easier for newcomers as using Publica might be their first interaction with blockchain technology.

A few important facts to keep in mind:

• All transactions are processed in cooperation with the licensed payment processor CCBill.
• At first, the exchanged PBL will come from a token pool deposited by Publica, with a future intention to purchase tokens from PBL token owners to ensure the availability of tokens and stimulating the token economy.
• Purchasing books through the FIAT layer will have an increased price as there is a small fee included for the service due to the several 3rd party partners involved in the process.

This is a very important advancement not only from a convenience perspective but also from an adoption perspective. This will ensure that cryptocurrency first-timers will have a much easier time when it comes to purchasing the books and will slowly ease them in.

Currently, there still are parts of the platform that are cryptocurrency exclusive and will only be usable with PBL tokens. We do plan to make similar options to the remaining functionality, but currently, they will remain as they are.

Be sure to try out the new feature and let us know what you think in our Telegram group or sending us an e-mail to info@publica.com.

Publica.com is the first publishing platform to use blockchain technology to innovate how books are funded, distributed, bought, and read.

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