Block Matrix is a company that is now developing an app that will let users send BTC through their social media accounts with an exception of Facebook’s platform. Let’s find out more about this product in the bitcoin news now.
The UK-based Block Matrix is developing its own Bottle Pay app which allows the users to send and receive BTC using social networks. The user experience is designed to be as seamless as possible so the users can send both bitcoin to any of their connections no matter if they have a Bottle Pay account or not. The company has already caught the eye of multiple private UK Investors. The stage is not yet completely set for compliant token sales in the country but private financing in Bitcoin projects seems to be doing well.
Block Matrix secured $2 million of investments in order to develop its new app which the company hopes will make Bitcoin more accessible to all and increase the awareness of cryptocurrencies and blockchains. The funding allowed the company to expand its five-person team to eight employees and the rest of the funds will be allocated to developing the app and the entire platform. Interestingly enough, Facebook does not seem to appear as one of the users’ social media choices for authenticating with the Bottle Pay app. This is because the app is entering Libra territory but Instagram is included in the list on the other hand. The company wants to expand into the retail industry and to develop a merchant services platform. The founder of the tech firm Peter Cheyne stated for our cryptocurrency news:
‘’We are trying to break down the barriers to allow everyone to use Bitcoin…. Our initial focus will be Bottle Pay.
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That is where we raised the seed fund from, off the back of the product. What we want to do is to let people authenticate into the app with an account they already have and trust.’’
The Block Matrix company has a user base currently of about 11,000 and has very high ambitions. It is aiming for no less than one billion as a long-term target:
‘’We want to have the biggest group of liquid Bitcoin users in the world.’’
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