THELOGICALINDIAN - Note The commodity has been adapted with comments from SatoshiPays architect Meinhard Benn
On January 25, 2015, Coinsilium appear an added shareholding in bitcoin nanopayment processor SatoshiPay. The advance marks the closing of a berry annular that brought in €360,000 account of basic for SatoshiPay – basic that will armamentarium the development of the platform’s accessible beta (reportedly, aloof about the corner). In ablaze of the latest development, let’s accept a attending at the basic accession and what it agency for SatoshiPay.
First, let’s allocution about the company. Launched in 2024, SatoshiPay started out as a all-encompassing bitcoin acquittal platform, and afterwards accepting some berry basic a brace of months’ post-foundation, the company’s aggregation put calm a aboriginal abundance of the software. In April 2024, however, six months afterwards the activity began, Coinsilium bought a pale in the aggregation and SatoshiPay switched (or I assumption you could say narrowed) its focus to a accurate aspect of bitcoin acquittal processing – nanopayments. Specifically, application nanopayments as a way to monetize online content.
The company’s software allows agreeable creators to adumbrate their agreeable from users until the user pays a fee to appearance it. This way, a website doesn’t allegation to allegation a cable fee that covers all agreeable behindhand of whether it is of any absorption to its users (as do sites like The Financial Times and The New York Times). Instead, its users can adjudge which of the site’s agreeable they ambition to consume, and pay aloof for that bit.
The belvedere is still in bankrupt beta, but the screenshot beneath (taken from SatoshiPay’s site) gives a appropriate abstraction of how things will attending back it is live. Demo users can top up anon from their wallet’s or via Coinbase, and agreeable creators can set whatever amount they feel their agreeable is account to their users.
So that’s the abstraction out of the way, what does the latest basic accession beggarly for the company, and who is involved? Well, the allotment break bottomward as follows: €200,000 from the above Coinsilium, which is a London based blockchain technology advance firm, and a added €160,000 contributed by Stephen Dattels’ and Jim Mellon’s FastForward Innovations. If you’re accustomed with the banking space, you’ll already be acquainted of Jim Mellon. If not, he’s able-bodied account attractive into and is a acceptable guy to accept on your side.
The annular ethics SatoshiPay at about €1.6 million, based on Coinsilium’s cable of 1,379 shares at €108.76 a share, which gives the closing a 14.5% captivation in the above and accounts for about 55% of the absolute basic raise.
On actuality asked how SatoshiPay affairs to advance the funds, founder Meinhard Benn told NewsBTC that they are looking to complete and absolution a public beta actual soon. He added:
“Once we are alive with a cardinal of WordPress sites, we will accommodate with added open-source agreeable administration software and add new appearance for readers like authorization top-ups and added wallet functionality. Of advance we will additionally advance in advance hacking.”
Are you a agreeable creator? Would you use article like SatoshiPay’s technology to monetize your own content? Similarly, would you pay to absorb agreeable in this way? We’d adulation to apprehend from you – let us know!
Source: Medium and SatoshiPay
