Since time immemorial, some businesses have struggled with handling online payments. The introduction of Visa and Mastercard payments had a significant impact on online payments. However, the technology does not cater for the new frontiers in online finance, such as cryptocurrency payments.
Samecoin’s technological disruption is a revolutionary innovation in the cryptocurrency industry. Bitcoin, the leading cryptocurrency, fell short of expectations because of its volatility. Therefore, stablecoins like SameUSD – Samecoin ecosystem’s stablecoin – are needed as a flexible and reliable store of value on the internet.
The disruptive technology behind the Samecoin ecosystem intends to change how online businesses operate. Below are some ways that this novel technology is expected to affect businesses.
Businesses need to adopt the Samecoin ecosystem
Bitcoin is treated like an asset that should be held and hoarded until its value appreciates. This is a product of its volatility, and unfortunately, many cryptocurrencies suffer from this price instability, just like Bitcoin.
The Samecoin protocol introduces the stablecoins – SameUSD and SameEURO – that fix the volatility issue. It also provides a robust system that ensures crypto payments are normalized for online transactions.
The Samecoin ecosystem comes with three major components; Samecoin Finance, Samecoin Governance, and Samecoin Infrastructure, all of which make up the products that include SamePay, stablecoins, and SameID. SamePay is an exchange and payment wallet designed to improve the efficiency and reliability of online crypto payments for both small and large businesses with an online presence.
Crypto-business adoption is at the heart of Samecoin’s ecosystem. With SameID as third-party login enabled, Samecoin users can instantly access their SamePay wallets and make online payments. This is good for businesses since it makes it easier for business owners to optimize their products and services for conversion.
SamePay wallet allows its users to make payments using any cryptocurrency; however, for a consistent record of value, SameUSD is a preferred stablecoin.
How does Samecoin contribute to crypto business adoption?
Some major issues have hindered the mass adoption of crypto payments for online businesses. Two that readily come to mind are:
- Instability of cryptocurrency prices
- Accessibility for the average internet user
The Samecoin ecosystem is built in a way to bridge the gulf between crypto-savvy individuals and regular internet users.
Samecoin ecosystem contributes to crypto business adoption by simplifying the process of making online payments via cryptocurrencies. This is achieved by using the crypto exchange and wallet app, SamePay.
Samecoin technology contributes to crypto adoption for online businesses massively. Samecoin ecosystem is the foremost platform in the market that attempts to bridge the gap by making online crypto payments more commonplace.
With Samecoin products such as Samecoin utility token ($SAME), SameUSD, SameGBP, and SameEUR, online users can make payments more conveniently, especially with the SameID username which helps to cut off the need for unreadable wallet addresses.
This approach significantly increases the overall conversion rates of businesses by eliminating long registration processes and removes the risk of forgetting passwords. Both of the aforementioned have adverse effects on conversion rates according to online shoppers.
Blockchain technology has disrupted several industries, especially the finance industry. Cryptocurrencies account for a significant amount of world assets with a total market cap of $2.3 trillion. Therefore, there is a need to facilitate payments made with Samecoin’s stablecoins and SamePay – a payment gateway from the Samecoin ecosystem has managed to offer a feasible solution.