Blockchain technology is transforming businesses with its ability to suit different operational needs. Bitpowr is using this technology to power other businesses.
After being in stealth mode for 9 months, Bitpowr has officially launched operations. It is a platform that encompasses blockchain wallet and digital assets solutions for businesses and organizations looking to scale their operations.
Toby Oyetoke, CEO and CTO of BitPowr built the platform to make it easy for other startups to scale their operations instead of having to focus on integrating the Blockchain, which costs time and money.
The cost of building on the blockchain is very high. You need really good skilled software or blockchain engineers who will develop and maintain the product, resources to build the application, cost of running and maintaining the nodes. You also need to cater for monitoring transactions, security, etc. For a new startup not making much money yet, you’ll end up spending so much on integrating the blockchain rather than building your product.”
Wallet and Payments API
Bitpowr offers Wallet API – a complete suite wallet management solution that lets businesses create and manage different types of wallets for different blockchain and different use cases, using a simple interface.
With Bitpowr wallet, you can easily create multi-currency wallets that contain your popular cryptocurrencies, such as Bitcoin or Ethereum.
Bitpowr wallet can be used to make crypto payments, save, build your exchange, carry out crypto banking and other digital businesses.
The payments API enables businesses to accept crypto payments with little to no setup.
There are some products in the market with some of these APIs but the challenge is they don’t provide everything these businesses need. Some businesses have to use different APIs to achieve their aim but with BitPowr, an all-encompassing tailor-made product has been made for crypto enabled businesses to scale and thrive at an affordable cost.
Who can use Bitpowr?
Bitpowr is available to fintech companies that want to build exchanges or P2P platforms. It is also available for retail platforms that want to incorporate crypto payment into their payment system as well as businesses that want to accept crypto as a means of payment and manage their assets.
The platform also claims to offer data privacy and web security to businesses using a wide range of cryptosystem layers of Multi-Party Computation, Threshold Cryptography, and Nacl Box Public Key Cryptography.
These, in turn, guarantee businesses a high level of security, resilience and availability.
Users of the Bitpowr platform are expected to pay a monthly maintenance fee of $100. Subsequently, subscriptions to the platform will then be based on transaction volume for the month such that the higher the transaction volume, the lower the percentage remitted.
Bitpowr, emerging from stealth mode with clients based in Nigeria and Cameroon, plans to expand to other African countries by Q2 2022.
Our vision is to build AWS for crypto in the sense that we power any kind of business that wants to build on the blockchain such that we have different services that can power these businesses,”
Toby Oyetoke, CEO and CTO Bitpowr
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