Welcome to the 2nd installment of Blockchain press monthly newsletter. This month we are going to switch it up a bit and focus on a specific application on the blockchain, we are going to look at Point of Sale solutions. The inventor(s) of Bitcoin had very specific goals in mind when they release the currency to the world, one of them was to enable a world where you can store your digital currency (money) easily without a need for a bank and the cost of transactions would be much cheaper than what we experience today. I would say this goal is still a work in progress and we might have to wait some time before we see it realized on a large scale. More to come on this topic in the education section but for now lets go over some news.
Canada Blockchain News
Research paper: Bank of Canada on incentive compatibility on Blockchain
Research paper: Bank of Canada: Can securities be settled on a Blockchain
News: Canada emerges as a hub for blockchain technology
Coinsquare Subsidiary Launches ETFs on Canada’s TSX
Deloitte helps RiskBlock Alliance expand into Canada
Tech leaders form coalition advocating for blockchain regulation
Back to our Point of Sale (POS) solution discussion. As bitcoin and other crytpo currencies go mainstream, businesses will start accepting digital currencies as a form of payment for products and services. To enable these everyday transactions there has to be a very easy transition for the end customer to want to complete transactions using bitcoin. This is where point of sale systems and mobile wallets similar to apple or google pay can help. Another option is pre-paid crypto currency gift cards, which is an easy way to introduce customers to the concept as well. Below we will review a few projects that are working hard to enable everyday transactions using crypto currencies.
Please note that these projects are in various stages of implementation on their published road map, please review blogs or social feeds updates to determine project maturity and status.
Pundi X – POS
- Based out of Asia, focused on Asia/South America currently and going through certification for Canada to deploy their POS products
- One of the more mature platforms out there with real deployments in Asia
- For the latest on their progress check out their blog
- To get an overview of their ecosystem review the white paper
- Based out of Portugal, focused on EU market
- A platform which combines the power of several blockchain networks into one ecosystem. This simplifies the cryptocurrency payment experience for users while providing a seamless integration for merchants to accept crypto into their existing systems.
- To get a better understanding, review their value proposition on their blog
- Based out of Toronto
- Services in pre-paid cards, mobile banking and POS crypto currency solutions
- Selectcoin offers a POS Cryptocurrency solution to provide easy and hassle-free buying and or selling of Cryptocurrencies through our retail partners. They have developed a proprietary solution that turns any of our retailers’ POS terminal into a Cryptocurrency exchange.
- Read more about their solution on their site
- Based out of Toronto
- Currently running pilots via their STK digital wallet
- STK will be a solution that will facilitate real-time cryptocurrency transactions at points of sale. Their vision is to create a globally accessible alternative to traditional banking, allowing you to store your money safely, access it instantly and transact with it anywhere, in any currency including crypto.
- For a overview and demo of their solution have a read here
- If you want to read over the white paper, you can review it here