The blockchain powered payment solution was celebrating the historic event with a launch party at Cove Manila on Friday 13th April, headlined by internationally renowned EDM superstar, Zedd.
Manila, May 8, 2018
The future of digital payment processing has started as Blocnation launched the world’s first decentralized Initial Coin Offering (dICO) on May 3rd. Operating on its own blockchain built with the Komodo Platform, the Blocnation token (BNTN) will be used to unlock cryptocurrency-payment capabilities across PouchNATION events and venues and provide payment solutions for those unserved by traditional finance.
PouchNATION is Southeast Asia’s leading cashless payment system, organizing digital payments for events up to 150,000 people. With offices across six countries in the region, PouchNATION is the exclusive roll-out partner of Blocnation, allowing rapid adoption across their extensive ecosystem of events and venues. Starting with the lifestyle industry, the Blocnation app will enable users to hold altcoins, acquire event tickets, book stay at venues, top-up online, and get post cash-back and more. The rollout of this technology across a three-phase plan will eventually put the power of crypto assets in the hands of anyone with a smartphone. Blocnation is uniquely positioned to capitalize on this exciting market:
- Blockchain’s business value-add will grow to $176 billion by 2025;
- Projections put the Gross Transaction Volume (GTV) in the lifestyle industry at $150 – $220 billion by 2022;
- Southeast Asia’s internet economy is estimated at $50 billion and expected to climb 300% in 2025; and
- Consumers in Southeast Asia spend more time on their mobile internet than any other market with an average of 3.6 hours per day.
The partnership between Blocnation and Komodo provides a number of benefits for users including complete anonymity for purchasers, robust security protocols resistant to vulnerabilities faced by other platforms and multi-coin storage in its cryptocurrency lifestyle payment app. The platform also supports atomic and etomic swaps allowing seamless trades between coins that are based on both the Bitcoin protocol and tokens based on the Ethereum protocol.
Real world application
Unlike many other digital currencies that still only have theoretical future applications, the Blocnation Token (BNTN) will fuel PouchNATION’s cashless payment systems.
PouchNATION’s network of events, venues, and festivals across Southeast Asia will use BNTN as the standard digital currency. Through the use of NFC technology and a closed loop payment solution, users will benefit from secure, instantaneous transactions whilst organizers and venues save on transaction fees.
“We are excited to be working with Komodo as their first Premier Partner on the world’s first ever dICO”, said Blocnation CEO Graeme Perkins. “Together we are ushering in a new era of secure and borderless cryptocurrency payment options where Blocnation can leverage the technological innovation provided by the Komodo Platform and the market position of PouchNATION for rapid adoption across Southeast Asia and beyond.”
Both the Blocnation and Komodo teams are committed to creating a new standard in digital payments and this is the first of many steps toward towards total financial inclusion. For the millions attending and organizing events and those unserved by traditional finance systems, the future is looking bright.
Blocnation’s dICO has begun CET +7 on May 3rd, 2018, and the BNTN Token will be available for purchase via the blocnation.io website. For further information and greater detail, the white paper can be downloaded here.
The launch party featuring EDM global superstar Zedd was held on Friday 13th April at Cove Manila in the Philippines. Tickets can start at 1500 pesos and can be purchased here.
For further information, please or email us at [email protected] Join our Telegram channel: https://t.me/blocnation_official
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.