Blockonomics is a Bitcoin payment solution, decentralized and equipped with specialized transactional tools to make the use of Bitcoin more efficient. It was set up in April 2015 and since then, a highly skilled team of experienced crypto developers and marketing specialists have come together with the primary objective to improve the use of blockchain technology and diversify its application through infinite decentralized solutions. A few of the unique features of Blockomics are as follows- a decentralized Bitcoin payment solution, payments are directly transferred to the wallet and are thus made instantly. With Blockonomics, security risks are also very low as the company does not have access to the user’s private keys, and users have sole control over their Bitcoins. It is also permissionless as KYC, or any kind of documentation is not necessary, the only requirement being the user’s email id. Therefore like Bitcoin, this payment solution is also borderless and permissionless and supports 22 currencies.
Blockonomics can be used to successfully bypass the huge credit card transaction fees and by having strong control over one’s money, Blockonomics helps to “be your own bank.” It provides a platform for online businesses or even freelancers to receive their payments in Bitcoin, thereby avoiding the transaction fees. The greatest advantage of Blockonomics is that “it lets you bill clients in fiat currencies but you need to pay in the corresponding bitcoin value after factoring in the current cryptocurrency market prices.” It finds out the latest bitcoin prices through Bitcoinaverage and users can send the displayed bitcoin value directly to the wallet. It also lets one look up their bitcoin address or wallet, following which a peer-to-peer (P2P) invoice can be created as a bill and the customer pays the current bitcoin value. Blockonomics also boasts of features like Payment button and Plug-in support for webshops; one can also track their wallet 24/7, every transaction is accompanied by real-time email notifications and it has P2P support for enhanced security and customers can pay at the current market price and hence is dynamic compared to its peers.
The merchant gateway payment feature of Blockonomics helps in accepting payments from customers irrespective of their location on the webshop in Bitcoins. Blockonomics, through its P2P invoicing, removes the need for a server that has to store the private keys, email id, invoice details and other sensitive data of users. Blockonomics payment buttons can be set up by merchants on their shopping websites and the plug-ins help in receiving the payments. The Wallet Watcher feature keeps a tab on all activities in the users’ wallet and the dashboard displays the balance of the transaction in Bitcoin along with the fiat currency if used by customers. The wallet watcher also supports “HD wallet monitoring with an extended public key, which follows BIP 32 guidelines.” A summary of the history of transactions made, which are linked to the users’ wallet, is shown in the dashboard with simple graphs for a smooth ‘birds-eye view,’ even pending transactions on the address are also shown.
Thus Blockonomics, with its unique features and simplified yet efficient P2P structure, has made a place for itself in the dynamic and ever-changing field of blockchain. With an efficient and motivated team of leaders, it is expected to become more efficient and useful in the future and help blockchain technology to grow further.