Introduction
Blockonomics is a Blockchain based payment processing platform for those users and merchants who are dealing a Bitcoin in an E-Commerce Industry. Today, as we know an e-commerce totally changed the shopping experience of users by enabling them to shop online. Many of the ecommerce giants already started taking payments in cryptocurrencies with offering low transaction fees. According to the stats, e-commerce sales will increase worldwide from $1.3 trillion in 2014 to $4.5 trillion in 2021.
So, Blockonomics is come up with their decentralized and permissionless Bitcoin payment solution where you are allowing to pay and accept Bitcoin directly. Blockonomics started as a wallet watcher and blockexplorer in 2015, where they have provided many e-commerce giants the cryptocurrency payment option.
Problem
Today, many of the retailers and users are not flexible on providing Bitcoin as a payment option and do not prefer to use Bitcoin for payments respectively. There are many reasons where online retailers and customers are not able to adopt Bitcoin payment. They are –
The price volatility of Bitcoin and Cryptocurrency in the market where it leads to huge losses to the merchants.
The high costs of Bitcoin transactions. According to the source, in 2017 the transaction fees for Bitcoin was much higher than the traditional platform like PayPal. The calculations revealed that the average cost per transaction made through PayPal was $2, while Bitcoin was $14. So, this is also the reason why merchants are avoiding to tale Bitcoin as a payment option.
Many of the users or investors are taking cryptocurrencies as an asset and avoiding using it for any purchases.
Solution
Blockonomics have come up with their idea to provide a decentralized payment platform for merchants where they can accept Bitcoin as a payment option. There are many benefits of using Bitcoin as a payment option through Blockonomics. They are –
Users can have total control over their Bitcoin payments and can easily create their own Bitcoin bank account by themselves. This will remove the third-party involvement where risk of personal data breaching is there.
Providing lower transaction fees as compared to the traditional online platforms.
No need to share your personal information to the merchants. You can directly send your public address while making the payments. From this, you are more secure because your credit card details are not visible to any merchants.
The transaction time is very less as compared to banks. Bitcoin is accessible worldwide everyone where on the other side PayPal is restricted in some countries.
The Team
Shiva S – CEO & Founder – He’s having expertise in designing and implementing efficient distributed backend systems. Experience in Bitcoin and Blockchain Projects. Also, in Python, C, C++ developer with strong understanding of Linux and Mathematics.
Srinivas S – Engineering Consultant – He’s having 9 years of working as a Senior Software Engineer in Radiant Sage Ventures. He’s working with Blockonomics since 2015.
Chetan B – VP – He’s having expertise in Sales & Marketing. He completed his graduation with Electrical and Electronics Engineering from IIT Jodhpur.
Token Matrix
Token – BCK
Total Supply – 1 Billion BCK
Price – $0.02 USD
Soft Cap – $2M USD
Hard Cap – $10M USD
Pre-Sale – Till 31st July 2018
Crowd Sale Start – 1st to 15th August 2018
Social Media Reach
Facebook – 10k+ Followers – https://www.facebook.com/Blockonomics-1619324884975855/
Twitter – 4.4k+ Followers – https://twitter.com/blockonomics_co
Telegram – 10.3k+ Members – https://t.me/BlockonomicsICO
Verdict
The Social Media hype is excellent, and they are very much active on their Telegram Group.
The Website and Whitepaper both explained in detail and easy to understand the project.
There are 6 core members in the leadership team who are having expertise in Sales & Marketing, Designing, Developer, Software and Programming. But, they are lacking in Blockchain experience.
They have 3 advisors on board who are holding a position of CEO or Founder of their respective company. They have expertise in Blockchain and Cryptocurrency.
The Roadmap is provided till 2020, but they are not well explained. Currently, MVP is not available, and the partnership details are not mention on their website.
For Detailed Information
Website – https://ico.blockonomics.co/
Whitepaper – https://ico.blockonomics.co/docs/Blockonomics_Whitepaper.pdf
ANN Thread – https://bitcointalk.org/index.php?topic=4421484
Bitcointalk Username – ritikagupta
Bitcointalk URL – https://bitcointalk.org/index.php?action=profile;u=1375471
ETH Address – 0xA6119b0AF2EC4A3e8A64f8ADA1dBF152f06eC392