SatoshiPay is a login-free, one-click payment widget for the web
Please introduce yourself and your startup SatoshiPay to our readers!
I started coding when I was 12 and never stopped. In 1994, I discovered the early web, and in 2011 early Bitcoin. Similar to what I saw in the early Internet days, I saw a huge disruptive potential in blockchain technology, so I decided to start my own company, SatoshiPay, in 2014. Since then we’ve gone on to become one of the leading consumer-facing companies in the blockchain space with big media houses and international investors backing us.
SatoshiPay is a login-free, one-click payment widget for the web. Our blockchain-based technology makes it possible to transfer super-small amounts between content publishers and consumers. This means new revenue streams can be explored: publishers can sell content for as little as 1 cent without any friction, bundling, or signup. Just no-nonsense, direct micropayments everywhere.
How did you get the idea for SatoshiPay?
The blockchain makes it possible to execute cheap and fast transactions globally. When I saw the potential of blockchain, it became immediately clear that we must build a system that can disrupt the payment space. And thus Satoshipay was born.
How difficult was the start and what challenges you had to overcome?
Any start is difficult when you’re doing something as groundbreaking as we are. Blockchain is a new technology and we’re actually putting down the tracks while we’re driving the train. This is as exciting as it’s daunting. But we have great advisors and investors, who’ve helped us from the very beginning.
But it’s not just our technology which is groundbreaking – also the whole concept of nanopayments is a new idea which publishers have to get their head around from a business perspective. Nanopayments are small payments as little as 1 cent. However, with the increase in adblocking, which is killing ad revenues everywhere, we find that many publishers are eager to try out new solutions which has made it easier for us.
Who is your target audience?
Publishers like you. But also anybody who could open up new revenue streams from micropayments: anything from games, live streams, to stock photography portals. With our settlement system, it’s possible to monetise text, audio, images, videos content, or file downloads. Micropayments are a great alternative to advertisements and less obstructive than a traditional paywall.
What is the USP of your startup?
SatoshiPay’s technology is log-in free, cross-device compatible and makes one-click payments available. Further, our unique selling point is the developer-friendly and innovative tech stack which can handle payment transactions an order of magnitude smaller than what is currently offered by existing payment service providers, while also reducing the friction in the payment process itself.
Can you describe a typical workday of you?
Every day is different at SatoshiPay and full of surprises. But we always start at 10am with a team stand-up, various meetings, email and Slack conversations and other day-to-day business. Then, the day passes by before I have even noticed that I started working.
Where do you see yourself and your startup SatoshiPay in five years?
In five years, SatoshiPay is the go-to payment service provider for micropayments. The web is ad-free and a significant amount of online publishing revenue comes from micropayments.
What 3 tips would you give other Start-up founders on the way?
Learn to tell the difference between wants and needs. What’s important and what’s just nice-to-have? Being able to tell the difference is perhaps the single most important super power in this game (one I hope to get to level 100 one day….)
Embrace change. Sometimes, things turn out a little… different… than you expected. Timelines change, markets change, technologies change. Be ready for surprises and learn to embrace them. After a while, they’re kind of fun.
Be curious. It may kill the cat, but it’s worth it. Only if you keep learning can you keep developing.
More information you will find here
Thank you Meinhard Benn for the Interview
Statements of the author and the interviewee do not necessarily represent the editors and the publisher opinion again.