BlockPay Begins ICO in Association With OpenLedger

Munich based FinTech company BlockPay, which uses blockchain technology to help businesses with fast and simple payment processing services, has announced its pre-ICO, hosted by OpenLedger, which began today, at 04:00 PM GMT. It has already proved successful with over 300 BTC raised within a few hours of the campaign going live. The platform supports most cryptocurrencies and helps business around the world to accept digital payments for free.

BlockPay is working on keeping companies and transaction details private whilst maintaining the other benefits of blockchain by creating standardized point-of-sale merchant tools. With ready proof of concept products, the company is now aiming to make it available to merchants and businesses after completing the development. The crowd-fundraising campaign through an ICO is aimed at raising the necessary capital to do so.

BlockPay’s suite for businesses includes a standalone application for merchants along with an integrated system to support existing e-commerce and PoS systems like Odoo and SAP. The BlockPay suite markets itself as suitable for any type of business. Customers can choose to pay for their purchase with most digital currencies using BlockPay’s Echo wallet application. BlockPay suite also supports payments from wallets like Mycelium, Jaxx, Circle and Dash.

Echo Wallet is a multi-currency, multi-asset wallet that also doubles as a secure communication application. Merchants and customers can use Echo to send secure voice, video and instant messages over an encrypted channel.

Christoph Hering, CEO and co-founder of BlockPay, said: “It solves two major problems of our time: Privacy and Financial freedom. First, Echo protects your personal chat, video and voice messages against hackers and censorship. Second, Echo gives you the choice to manage multiple currencies at your fingertips. Transfer takes 3 seconds or less and thanks to modern blockchain technologies Echo users can register their desired username on the blockchain with just a few simple taps.”