Blue Star Capital plc (LON:BLU), the investing company with a focus on new technologies, has this morning said that further to the update announced on 29 September 2017 regarding SatoshiPay’s proof of concept project with the IOTA Foundation, SatoshiPay has now released the proof-of-concept demo site to the public at https://satoshipay.tangle.works.
SatoshiPay is exploring the replacement of Bitcoin with an alternative cryptocurrency, IOTA, as SatoshiPay’s settlement network to allow instantaneous fee-free micropayments. Further background on the rationale for finding an alternative to Bitcoin was set out in the Company’s announcement of 17 July 2017. The demonstration website features a fully browser-based implementation of IOTA’s new Flash Network technology, which allows instantaneous payments by creating a layer on top of the IOTA ledger. Users can test the website by clicking the orange button on the screen and clicking “Fund the Channel” to be given 400 Testnet IOTAs.
Tony Fabrizi, CEO of Blue Star commented: “We are pleased to see launch of this test website which demonstrates SatoshiPay’s business model and which enables website publishers a working platform to see the ease with which they could monetise their content whilst allowing consumers to view paid-for content at the click of a button.”
Meinhard Benn, CEO of SatoshiPay commented: “The release of the proof-of concept with IOTA is an exciting step forward. When combined with the rapid pace at which blockchain technology is evolving, for example with unique distributed ledgers like IOTA’s Tangle, the scale and efficiency with which SatoshiPay’s business model can be rolled out is significantly improved.”