Perhaps another of the important benefits of Bitcoin and its underlying technology, the blockchain, is the fact that micropayments, as small as $0.01 and even lower can be made using the digital currency.
Recently, various companies have decided to leverage this possibility, and encourage microtransactions, or nanopayments, as referred to by SatoshiPay. The London-based company has recently announced the initial results of their initial product launch.
According to the reports, it seems like in only two months of service, the company has manage to facilitate over 1,600 sales, while also generating over 8,000 wallets, cataloguing over 6,500 items and being adopted by more than 120 publishers. While the numbers are not huge, they do manage to showcase the potential of the platform.
For those who do not know, SatoshiPay offers a payment technology that can transact insanely low amounts of money, with the help of the blockchain technology. When put to use, the service allows publishers to generate revenue streams by monetizing content that would’ve otherwise been impossible to be monetized.
According to the co-founder and CEO of SatoshiPay, Meinhard Benn, “We were eager to release the first version of our product as fast as possible, and the engagement from publishers and users has been tremendous. We are very early on in the development of our product, but we’ve had an impressive reaction to the product without any advertising or marketing. We have proven that nanopayments can create monetisation opportunities, where they didn’t exist before”.
Now that the company has reached a milestone, they are prepping up to release further updates for their WordPress plugin, which will allow publishers to further leverage the potential of the blockchain, and meet the growing demand for micro and nanopayments on the market.
Based on everything that has been outlined so far, what do you personally think about SatoshiPay? Are you one of the early adaptors? Let us know your thoughts in the comment section below.
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Source: SatoshiPay Medium Blogpost and EconoTimes