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BackBit can be used to transact digital content rapidly, conveniently and securely with a 100% configurable payment model at a fraction of traditional costs.
- Expensive films, games, or apps could work for a set number of minutes while the blockchain updates and confirms the transaction.
- Easy payment on public devices such as a TV in a hotel as the content can have a unique code, but it all ends up in the same wallet (or multiple wallets, see BackBit diagram for concept)
- People don’t want the hassle of calling anyone, subscriptions, or giving you their card details to watch a movie, play a game, get an app, or unlock a “channel” for the evening. A QR code is generated via BackBit, it’s show on screen, the user sends BTC and get their content, all within a few seconds (it’s also possible to just have a unique QR code on a per terminal basis)
Plus the key universal benefits of the BackBit concept
- Seemless escrow.
- Zero maintenance from point of transaction owner, content is updated and managed from a centralised network.
- Publisher / affiliate / gaming IP owner / house / partner/ etc all receive an immediate and consistent revenue stream. Payouts are infinitely configurable, percentage, how many payees, time of payment, size of payment, all on a set and forget basis. Yet tailor-able whenever the need arises.
- All parties receiving revenue are fully and easily audit-able (all transactions are public on the blockchain as long as you know the payment address) making tax and revenue calculation trivial.
- No cash stored at point of transaction, no cash to steal, empty or sort.
- No credit card details are shared.
- No, or incredibly low fees.
- Immediate payment to unit owner, or centralised unit owner headquarters, great for businesses with multiple machines or multiple locations, or both. Simply put an organisation with 100 machines over 100 locations could all be paying into one centralised audit-able wallet, instantly.
- No unauthorised charge-backs possible (eg after content is used)
- User definable cashout options available, any mix of BTC/Fiat payment possible.
- Separate payment devices (such as a phone) make payment inherently 2 factor secure due to the unique QR code per transaction, coupled with the secondary layer of security by using an unrelated secure payment device.