Wix and a Plethora of Businesses Add Crypto Payment

Wix and a Plethora of Businesses Add Crypto Payment

September 21, 2018 Off By Maheen Hernandez

Wix will be adding crypto payment to its payment methods.  Wix is a publically traded unicorn that permits small businesses to create websites. Wix has announced that it will be adding crypto payment method as one of its billing options.

Pumapay will be doing this for Wix. Of note, PumaPay has raised more than 120 million dollars in its private sale.

Pumapay has been successfully processing payment for a plethora of businesses from different business sectors through its PullPayment Protocol.  They have raised more than 120 million in private sale.

In the past year, several established companies started to accept cryptocurrency as a payment option for its goods and services. Digitalized ecosystems like Wix have the required infrastructure to get their customers to adopt these payment systems for their businesses.

Yoav Dror, CEO at PumaPay in his statement about Wix “The merchants will see it as a tool they can use for payment processing, as well as paying their subscriptions.” He also added, “This is a huge step towards increasing utilization of blockchain technology and making convenient blockchain-based payments available to everyone.”

The purpose of this collaboration does not stop with just the Wix users being able to pay in crypto.  This collaboration enables users who make use of the Wix website to be able to implement a similar payment system to their businesses, where in turn, their customers will as well be able to pay in tokens.

The blockchain world and cryptocurrency have not been doing well over the past six months after the record highs and lows of the different currencies.  The backing of digital assets with these tokens has been wobbling, and users of tokens are pretty confused about whether there will be a consistent place for the cryptocurrency in the future.

Some of them claim that the hype around the crypto will be settling down soon, while others are of opinion that every new technological deal of this type will go through a disturbance before it settles to a normal standard.

The Gartner Hype Cycle for Emerging Technology in 2018 has to report that, “Blockchain could be a game changer for data security leaders, as it has the potential to increase resilience, reliability, transparency, and trust in centralized systems. Also under this trend are digital twins, a virtual representation of a real object. This is beginning to gain adoption in maintenance, and Gartner estimates hundreds of millions of things will have digital twins within five years.”

Gartner refers to Digitalized Ecosystems as a technology that will “deliver a high degree of competitive advantage over the next decade,” the publication as well states, “estimating [that] hundreds of millions of things will have digital twins within five years.”

Since startups are more than willing to take a chance with unfamiliar opportunities, most of the emerging technologies are being dominated by startups and companies that are smaller in size.

Gartner’s predictions are indeed promising with respect to the future of blockchain and cryptocurrency.  The company states that “emerging technologies, in general, will require support from new technical foundations and more dynamic ecosystems.”

If blockchain and cryptocurrencies should be taken to the future, they need to be supported by newer technical foundations and established companies like Wix.

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