Blockonomics (BCK) ICO Review – ICO Token News
Blockonomics is a decentralized Bitcoin payment solution that provides specialized transactional tools that enhance BTC use. Their service enhances the wallets you already own. The payment lets you accept Bitcoin payments on your WHMCS installation with ease. There are no security risks; payments go directly into your own bitcoin wallet. The complete checkout process happens within your website; customers never leave your site. All major HD wallets are supported, as well as all major fiat currencies. No approvals of API key are required, installation is fast and simple.
Bitcoin is the remedy for E-commerce offering cheaper transactions fees than conventional payments methods, minimizing fraud and chargebacks, and providing secure Blockchain transactions. Bitcoin payment have risen over 80% since 2014 on E-commerce sites. Moreover, Bitcoin buyers spend more than non-Bitcoin ones. Lastly, borderless Bitcoin allows easier access to a global market. Looking closer at the platform benefits, Blockonomics guarantees the absolute lack of middlemen, the lack of access to users’ private keys, the lack of KYC/documentation and the direct and instant E-commerce payments and donations to any SegWit or non-SegWit wallet.
To enhance their platform services, Blockonomics have issued BCK tokens. BCK is a utility token that enables support to BCH, LTC, and ETH and Lightning Network integration. Moreover, it sends API with Multi-signature wallets. These tokens provide a variety of perks to customers too. Customers can use BCK tokens to over 2000+ worldwide Blockonomics powered stores, without paying any payment fee for BCK transaction on the platform. In case of E-commerce purchases to Blockonomics powered E-commerce sites, customers alongside Bitcoin will be able to use BCK tokens and receive discounts on the purchased items. Lastly, using BCK token, customers can get bonuses/rewards for transactions.
Blockonomics team having completed a successful circle of activities operating as the first gateway to accept Bitcoin payments for E-commerce servicing hundredths of merchants. This experience guarantees that the project is mature enough to proceed to the next step, an Initial Coin Offering. ICO’s aim is to collect adequate funds to improve its infrastructure and finally offer multiple solutions and technologies to merchants, expanding Bitcoin adoption as a means of payment in general.
Benefits of Bitcoin as a Payment Option Over Credit Cards, PayPal, etc.
Freedom in payments
There is no restriction on the amount of money sent globally and instantly. Users do not need to be over 18, or live in a developed economy, have a regular income, or even have an ID. Bitcoin user does not need to worry about bank holidays or the timelines of banking services. Payments go through under any circumstances and users are always in control of their digital money.
Low transaction fees
Digital currency users enjoy zero or low transaction fees compared to other online payments methods, such as PayPal, Western Union, and credit cards. In fact, Bitcoin fees are significantly low (between 5 to 10 cents of the US dollar), while transactions fees via other methods like credits cards, PayPal, and Western Union in some occasions may reach the level of 9-10% of the transaction.
Many PayPal users believe that PayPal is a safe way to pay with a credit card, as it offers an extra layer between themselves and the online merchant, limiting their card details from being stored directly on a merchant’s site.
Credit cards chargebacks is a scenario when the buyer disputes the transaction in a case of a defective product or any other possible reason. Merchants are losing a considerable amount of money at the end of each financial year. The irreversibility of Bitcoin transactions allows no chargebacks or returns, unlike credit card dealings.
Another significant benefit of using Bitcoin is that Bitcoin transactions are confirmed very quickly, in a matter of seconds or minutes, as opposed to days as with banks. This speedy verification is essential for small and medium businesses, which require a steady cash flow to maintain their operations.
There are many countries around the globe where PayPal is not supported, among them Iran, Afghanistan, North Korea and Haiti. While PayPal does not deal with these countries due to mostly political reasons, Bitcoin does not discriminate in such ways and all that is required for access is hardware and a data connection. In countries where Coinbase does not yet exist, Localbitcoins does facilitate a Bitcoin economy anywhere in the world.
BCK Token Economics
Looking closer at the platform benefits, Blockonomics guarantees the absolute lack of middlemen, the lack of access to users’ private keys, the lack of KYC/documentation and the direct and instant E-commerce payments and donations to any SegWit or non-SegWit wallet. To enhance their platform services, Blockonomics have issued BCK ICO tokens. BCK is a utility token that enables support to BCH, LTC, and ETH and Lightning Network integration. Moreover, it sends API with a Multi-signature wallet. These tokens provide a variety of perks to customers too.
- Shiva SFounder, CEO
- Srinivas SEngineering Consultant
- Chetan BVP, Sales and Marketing
- Reggie THead of Marketing / Growth Evangelist
- Juha SLead Engineer
- Igor MUI/UX Designer
- 1September 2018
More e-commerce integrations - Shopify, OpenCart, ZenCart, Wix etc.
- 2December 2018
BlockExplorer and blockchain improvements - Accurate confirmation estimates for mempool transactions. Graphs and charts to keep track of blockchain data.
- 3March 2019
Native altcoin support for Litecoin, Ethereum, and Bitcoin Cash - Enhance the customer experience by accepting altcoins payments together with Bitcoin. Track all coins from same dashboard.
- 4June 2019
Lightning Network integration - Easy integration to receive Lightning Network payments on your website. Receive payments as low as 1¢ without any overhead.
- 5Nov 2019
Zero confirmation payments - Accept zero confirmation payments using our special API that detects possible double spends with high accuracy.
- 6April 2020
Send API with multisignature wallet - Secure and robust API to programmatically send crypto payments