Nick Boardman, the British entrepreneur who established laptop maker Rock Group PLC, has launched a online marketplace that accepts Bitcoin as its sole currency.
Founded in 1992, Rock Group was a specialist laptop manufacturer, one of the first companies to allow users to customize orders online, and, at one time, one of the UK’s fastest growing private companies. The Warwick-based firm went into receivership in 2008 and was acquired by British ICT solutions firm Stone Group that same year.
Boardman is positioning the new marketplace, dubbed BTXDeals, as a discount platform with a cost-per-sale lower than that charged by leading e-tailers Amazon or eBay. Vendors in the marketplace can list an unlimited number of items and receive payment in either bitcoins or GBP.
The base price of goods on BTXDeals is set in GBP and updated every 10 minutes based on the exchange rate of Bitpay, the largest Bitcoin payment gateway. BTXDeals also offers comparisons in Euros and US Dollars for added convenience. That way customers can get a representation of the value of virtual currency in the current market and what they are paying for goods.
As the first of its kind, BTXDeals embraces the potential of Bitcoin and provides a safe, secure and transparent form of online shopping that puts the power in the hands of the consumer. We’re passionate about the potential of this virtual currency and believe it will become the future for all e-commerce transactions.
BTXDeals, headquartered in Staffordshire, has secured a number of vendors across a range of industries including Grange Hotels, Shy Aviation, Sun Mountain Golf, K Bassam Jewellers, Time Square Birmingham, New Born Electronics, Paul Oz, Cherished Number Plates and Spanish Villas.
Boardman founded Rock Group when he was 20 years old, developed a customized and direct model by 1996, and soon rivaled global brands ASUS, Dell, HP, and Sony in the UK market.
Boardman indicates that he first got involved with Bitcoins 18 months ago as a speculator, and as his interest grew came to realize great potential for the crypto-currency to make a real impact on e-commerce.