Centi Ltd has come to existence on 31st of March 2020 and today shares a first glimpse of what shall be achieved with Centi over the coming month and years.
Our shareholders are convinced that Bitcoinsv (BSV) has huge untapped potential which Centi would like to tap into:
One is its suitability for a wide use as a commercial transaction layer well beyond the reach of what any Bitcoin, or all Cryptocurrencies for that matter have reached today. Second is its extended functionality like token- and smart-contracting-capabilities. Third Bitcoin does not yet leverage the existing payments Infrastructure enough.
My colleagues in the Bitcoin space will attest to me trying to convince many restaurants or other merchants to accept Bitcoin in the past. While I was successful in some cases, it has never really worked out sustainably. Reasons being:
Separate hardware was needed for invoicing
Merchants had to take care of their wallet backups
Accountants got upset as they suddenly had to deal with a new asset in the business
Personnel had to be trained how it is used and accounted for
Transaction fees were unpredictable
The payment method was not integrated into their cashier system
Every single merchant had to be acquired separately.
It came as a shock to me when some people in the Bitcoin community started arguing that payments and micro-payments specifically were an unfit use-case for Bitcoin. So all my trouble seemed for what was mostly a gimmick, at least measured by the density of accepting entities and payment transaction volume achieved. Thus, Bitcoin remains mostly a speculative asset today with little functionality.
Bernhard Müller, Founder Centi AG
Centi can change all this by utilizing Bitcoinsv’s proven technology and by integrating with established infrastructure providers on the last mile. It is the unique chance to leverage the key features of Bitcoin while profiting from years of experience in the PoS and e-commerce industry. Thousands of merchants can be reached in store and online and we will give them no reason not to accept Bitcoin, as unlike before, it comes with actual advantages to them.