BitWall: Bitcoin & Cryptocurrency Micropayment Paywall Service?
What Is BitWall?
BitWall is a Bitcoin micropayment platform. It also offers loyalty and rewards. The company is based in San Francisco, CA in the US. It encourages consumer retention by the use of innovative and an alternative reward system such as social currency.
The idea behind the innovative company was to give visitors different means by which they could access paywall content. Whether the customer needed to make a small payment, view an ad or promote an article on Twitter. BitWall allows this to happen.
The Problem BitWall Seeks To Solve
For most customers, they would gladly pay a small fee to read an article they are interested in than pay a subscription fee for a lot of online content that they might not need. Very small transactions that are often seen as micro have been a feature of online e-commerce fields especially when it comes to digital content.
Since it is expensive to pay for such fees using payment options such as credit cards many companies have aggregated these smaller payments into systems such as subscription.
The BitWall Bitcoin & Crypto Micropayment Paywall Service Solution
BitWall sought to change this by incorporating the use of Bitcoin. With Bitcoin, payment of these small payments is possible. Since the fees are lower in Bitcoin, the startup allowed the publishers to unlock the world of micropayments.
BitWall made it easier for publishers to monetize their content by use of micropayments and to turn their page views from customers into cash. The firm also encrypts important data to protect consumer accounts and provides access to charts and dashboards for revenue and transaction data.
BitWall came up with a Twitter-powered paywall in partnership with the Chicago Sun-Times. This is one of the ten largest newspapers in the US. The pay-wall allowed online readers to either donate Bitcoins or tweet about an article or event. This was probably the biggest win for the firm. The Sun-Times tested out the paywall that readers could bypass using tweets or Bitcoin.
BitWall Acquisition By Watch Out
Currently, Watch Out has acquired the Bitcoin-focused startup. Watch Out is a firm that sends alerts on different events including product and food recalls and weather-related emergencies. BitWall hopes it can help Watch Out improve its data, payments, and loyalty systems. The acquirer hopes to provide a secure consumer protection platform while still providing hyper-targeted content to the consumer and BitWall will assist this firm to achieve this.
The acquisition will see BitWall paywall product being shut down and the technology will be diverted to another product belonging to Watch Out.