Blockchain technology, together with its baby cryptocurrency, have squeezed themselves into every sector that leverages technology to run its day to day operations. For the e-commerce sector, technology is its backbone, and now, two startups want to take things to the next level.
CLIC Technology Inc. and Opporty a B2B platform have partnered to create a browser extension which will enable customers of Amazon the most prominent e-commerce site to pay in cryptocurrency through Ethereum open source blockchain platform.
The said extension will be created to allow all customers to pay for their goods through ether ETH Token through leveraging Plasm Cash technology. The latter payment technology has the same working algorithms of lightning network a bitcoin payment scaling solution.
Through incorporating different working algorithms from CLIC Technology and Opporty’s Plasma Cash payment solution, transactions will be much faster. At the moment, Ethereum transactional speeds are so low that they can’t even match with the high number of transactional from Amazon.
Amazon facilitates 300 transactions per second compared to Ethereum, which can only handle 20 per second. However, through CLIC Technology and Plasma Cash, the number of transactions raises significantly and even surpasses that of Amazon.
Moreover, through enabling users to pay via ETH Token, the above startups will be filling the gap of tech-savvy people who hold crypto and would love to make their payments via digital coins. For the startups, the above is just the tip of the iceberg as they plan to work on other ambitious projects. While commenting on their new development, Roman Bond CLIC Technology CEO said;
“We are more than happy we are at the center of merging the next generation industries and are thrilled to be working with Opporty on this project. However, this doesn’t mean we will stop at the above project. We have more ambitious projects in the pipeline.”
Although at the moment ETH Token is the only digital asset available for making payments on e-commerce platforms, the two firms are workings to add more ERC-721 and ERC-20 based tokens together with other Ethereum compatible assets. The latter will open up new opportunities in the sector to provide more digital assets to shoppers.