TokenPay CEO Derek Capo Talking About BlockSize
So about the newly-acquired blocksize, how many people are working for them? What are their projects? Yeah good question! So blockchain, sorry blocksize is a new name. We actually bought that domain name for a lot of money, like twenty twenty-thirty thousand dollars. We like that name a lot. Obvious in the industry, this is existing development company that was based out of Central and South America. We know the owner very well from just couple projects, that we’ve worked with him in the past. So We decided to get his company and re-brand it.
We have a new acquisition structure, that we’ve created. Blocksize is the part of the team that’s actually helping with eFIN. The eFIN coin and eFIN decentralized exchange. They’re also gonna be doing a lot of stuff with us. One of the things that we’re noticing in the real world is that, a lot of businesses are interested in using blockchain technology. Right inside their business to improve operating cost or whatever it is. So we decided to do is to form this business together. Because we have a lot of people that are interested a lot of relationships with merchants. It’s all about keeping it in-house, right.
A lot of businesses are interested in potentially using blockchain technology. If a business comes to us or we have products and services that blocksize would be able to be able to offer, we can pitch all those companies. Remember blockchain is still in it’s infancy! I mean even though bitcoins been around for you know eight years. The reality is, the actual technology itself is just starting. So this team really is dedicated to learning and building blockchain solutions for businesses.
To give you an example a competitor would be like an IBM. So there’s two dough consultants. They would go into a business. They would say listen, you know we’ve got this solution for you guys. That would be able to reduce operating costs. you know may be we can implement smart contracts. So that you don’t really need to have all these middleman in your business, right. Now may be you have sales or so and you don’t need a hundred of them. We can reduce it to fifty just by integrating these following things.
So there’s a lot of different opportunities. I’m actually working with the team on a weekly basis. Talking about all the products and solutions that they can offer. So yeah, that’s pretty much it. They’re just really a tech team that’s gonna help us do that. When those customers pay, I mean we’ll be able to accept fee. But they will force them to accept TokenPay, right! So that way you know, it stays within our ecosystem.