In the modern world, payments almost always fall under two distinct categories – cash, and credit cards. Even cash is falling into obscurity, in a world which is becoming more and more digital with each passing day. Bonpay are a Blockchain company who wish to bring a new all-encompassing payment solution to the table, with the ultimate goal of streamlining payments to be faster, more secure, and more simple.
[Note: This is a press release.]
With payment by cash almost being defunct, the main way that currencies are moved at the moment is via card payments. Unfortunately, card payments often incur high fees, which are passed on to the consumer from the banks. Bank transfers and cheques are notoriously slow to clear too; regularly taking 5 working days to clear, and sometimes taking up to 30 days.
It’s clear that the benefits of the Blockchain can be used to streamline the payments process. The Blockchain can clear payments immediately, by cutting out the middlemen involved in the service. This not only cuts costs considerably but grants immediate payments. Additionally, the rock-solid verification of payments over a publicly-verifiable ledger eliminates the risk of fraudulent payments and chargebacks.
Financial freedom is the name of the game, with Bonpay’s flexible DLN system enabling a multitude of transactional/exchange processes to be implemented, as and when the network dictates. This sets the precedent for a rapidly expanding digital financial world: Bonpay will always support forthcoming coins for transfer on its’ network.
Transparent rates are also a top priority for Bonpay, with the goal of allowing users to circumvent sharp movements in the exchange rate when transferring funds. This is important given the volatility in cryptocurrencies, especially in new tokens and during peak trading times. Transparency will allow users to avoid hidden conversion fees, something which exchanges have been slated for in the past. The mechanism that will ensure the success of this feature works by selecting only the lowest transaction fee provider, in keeping with the free market ethos.
To wrap this all up, Bonpay encases their platform within a rock-solid security and privacy system. With a self-controlled data protection system, using zero-knowledge technology, users have direct ownership of their data.
To raise funds and achieve the goals of the platform, Bonpay have launched an initial token sale. The tokens will be made available for purchase to the public, with 85% of the total volume of tokens created being offered for sale, and 51% of these tokens available in this first token sale. The sale began on Tuesday 31st October, at 2 PM UTC. There is a hard cap of 200,000 ETH, beyond which tokens will be sold out. Participants will be able to exchange 1ETH for 500BON, with an early-bird discount of 20% available for the early participants.
Bonpay already have a working model of their platform available, but with this round of fundraising, it is clear that the future of financial freedom will be upon us.
- For more information, visit the Bonpay website: https://bonpay.com/
- Whitepaper: https://bonpay.com/whitepaper
- Follow Bonpay on Twitter at – https://twitter.com/Bonpay_com
- Find Bonpay on Facebook at – https://www.facebook.com/bonpaycom
- Bonpay on LinkedIn – https://www.linkedin.com/company-beta/24782708/
- Read Bonpay blog at – https://medium.com/@bonpay
- Follow Bonpay’s YouTube channel at – https://medium.com/@bonpay
Media Contact
Contact Name: David Bel
Contact Email: [email protected]
Location: London, UK
Images courtesy of Bonpay
