New Bottle Pay App by Block Matrix Lets Users Send Bitcoin on Social Media, Secures $2 Million

A UK tech company known as Block Matrix is developing an app dubbed Bottle Pay that will let users to transfer Bitcoin via their social media networks. The company has announced that it has received a funding of about $2 million to fully develop the app, North East Times reports.

The Newcastle based company says the Bottle Pay platform user’s experience is seamless as possible and will allow users to transfer Bitcoin to any of their social media contacts irrespective of whether they have an account with Bottle Pay or not.

According to the company’s founder Pete Cheyne, the aim of the Bottle Pay app is to allow everyone to easily use Bitcoin. Cheyne explained that his company is looking forward to eliminating the barriers prohibiting the masses from using Bitcoin. He continued to explain that all that people will do is authenticate into the platform using an account which they already use and trust.

Currently, Block Matrix is in the process of enhancing the number of active users within the platform and is targeting to increase the number of users tenfold in the next one year before it can seek more investment from venture capitalists. Currently, the company enjoys a user base of about 11,000 people and is targeting to hit the 1 billion users mark.

Plans are also underway for the firm to venture into the retail as well as commercial sectors with another payment platform which will let businesses to accept Bitcoin payments via Bottle Pay.

Interestingly, Bottle Pay platform will not allow its users’ to authenticate the platform using Facebook. This maybe because the platform might be encroaching on Facebook’s territory as per Libra’s intentions. However, at the moment users can authenticate their accounts using Instagram.

Meanwhile, according to Cointelegraph there are other platforms which are also working on integrating digital currency payments into various social media networks directly. For instance, Brave, a blockchain-based web browser, allows users to tip for social media content on various social media platforms like Reddit, Twitter and Twitter using Basic Attention Token (BAT).

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide