All posts by BlocPal Inc.

Bizz and BlocPal Announce Strategic Partnership

Shares

Orlando, FL November 7, 2019

BlocPal and Bizz have formalized a strategic partnership that will allow both companies to expand their global reach. Bizz, the world’s most participatory social messaging app, will join forces with BlocPal, one of Canada’s most promising fintech startups to build Bizzonomy – a global participatory economy. The agreement was signed between Nick Mellios, CEO of BlocPal and Dennis Lewis, CEO of Green Light Digital on October 26th, 2019.

Bizz is a social messaging app that surpasses the functionality of older messaging platforms like Whatsapp and Messenger. Thanks to its unlimited private, secure and open groups, RADAR location-based messaging and advanced 4K video streaming users can enjoy best-of-class social functionality without the snooping eyes of Silicon-Valley behemoths. “At Bizz we believe that people aren’t products to be sold at auction. Our vision is to create a global participatory economy where each and every user shares in the prosperity created by the community. And now, thanks to our partnership with BlocPal, we have the technological platform to make that vision a reality.” explained Lewis.

BlocPal is a Vancouver-based fintech company dedicated to providing users a seamless financial platform that perfectly integrates new digital currencies alongside traditional fiat currencies. Their blockchain-powered infrastructure is capable of handling thousands of transactions per second, while providing a secure and easy-to-use user experience. “We are thrilled to be partnering with Bizz as it expands all around the globe. We see this partnership as an opportunity to provide financial services to individuals and businesses of all sizes.” stated Mellios.

The partnership will allow Bizz users to operate with over 80 fiat currencies including USD, CAD and EUR, Bitcoin and all major digital currencies. The platform supports payouts and withdrawals in 120 countries, 15,000 financial institutions and 350,000 cash pickup locations. Thanks to the affordable and blazingly fast transaction speeds, Bizz will be able to incorporate realtime participatory functionality into its blockchain-enabled social messaging app.

About Bizz
Bizz is a next-generation social messaging service that acts as an all-in-one digital ecosphere, bringing businesses, government agencies, friends and families together from all over the world to a fully-immersive social platform. Discover for yourself just how innovative Bizz is by downloading the app from Google Play or the iTunes App Store.

About BlocPal
BlocPal’s vision is to provide the world a simple, fast, and secure digital transaction platform that allows anyone to transact in their currency or asset of choice. A leader in the emerging digital economy, BlocPal empowers consumers, merchants, and enterprise customers to participate now in this digital economy which includes cryptocurrency. At the core of BlocPal’s service is its decentralized blockchain transaction technology, which enables any currency or asset to be digitally signed and traded while complying with financial regulations.

With its suite of applications, BlocPal’s ecosystem supports a range of solutions for point-of-sale, e-commerce, white label enterprise solutions, loyalty rewards, financial network integrations and robust consumer digital wallets.

OneFeather and BlocPal to Provide First Nations with never before available digital Financial Services – unleashing for the first time access to new financial resources, wealth, capital and security

Shares

OneFeather will launch a digital wallet serving BANDS ACROSS North America

VANCOUVER, CANADA, JULY 22, 2019

OneFeather based out of Victoria, Canada and BlocPal International Inc. (“BlocPal”), with headquarters in Vancouver, Canada, are pleased to announce their strategic partnership to jointly develop and release the OneFeather digital wallet app for First Nations members across North America. The new wallet, to be launched later this year, will provide never before available digital financial services as well as important administrative and governance functions designed specifically for Indigenous peoples, communities and governments in both Canada and the United States.

The OneFeather wallet will make essential financial services readily available to Indigenous people. Services will include deposits/withdrawals of Canadian and US dollars, sending/receiving money, credit card access, and direct utilities payment and never before realized access to financial resources, capital, wealth and security. In addition, the wallet will integrate OneFeather’s existing digital services for Status Card renewal, soon to be released GST rebates solution and its flagship suite of digital governance solutions like electronic voting and community engagement.

Lawrence Lewis (“Klah-Lees” – We Wai Kai Nation), the founder of OneFeather, stated, “OneFeather is very excited to be working with BlocPal. There are over 2.2 million Indigenous people in Canada alone – First Nations, Metis and Inuit peoples – and we are excited to impact the lives of indigenous peoples through their smartphone with easy access to these essential financial services. We believe today’s technology can empower and prosper our people, and this partnership with BlocPal is an excellent example of how we can accomplish this. OneFeather is leading disruption of “Indian Act” governance, reporting and administration through a First Nation vision of modern digital systems and solutions that better represent and respect Aboriginal sovereignty, values and principles. OneFeather’s purpose is ultimately to return resources and wealth presently being drained by antiquated systems and regimes directly back to First Nations and their members. OneFeather is a First Nation technology company, and the only company building these new modern solutions for First Nation in Canada.”

Thanks to the BlocPal technology, the OneFeather wallet will include a digital rewards currency called the OneFeather token. The OneFeather token will be used to provide incentives based on wallet usage and create a generous program to give back directly to Indigenous people and their families. The OneFeather token will be the genesis of a truly Indigenous endowment – designed specifically for the benefit and wealth of individual Indigenous people that can be used, shared and managed directly from their OneFeather wallet.

“Seeing our technology benefit First Nations members is something we are especially proud of,” commented Nick Mellios, CEO of BlocPal. “We believe that blockchain technology combined with financial services can improve the lives of people around the world, and where better to start than in our own back yard? We’re honored to be partnering with a market leader like OneFeather.”

About OneFeather
Since 2015, OneFeather has on-boarded more than 140 First Nations across Canada that actively participate in electronic voting, vote management, member registrar management, and its community engagement suite of service technologies. OneFeather has more than 140,000 First Nations peoples within its database of users and growing month over month. OneFeather’s core purpose is to redefine the Indigenous experience through innovation and technology. For more info, visit https://www.onefeather.ca

About BlocPal International Inc.
BlocPal’s vision is to provide the world a simple, fast, and secure digital transaction platform that allows anyone to transact in their currency or asset of choice. A leader in the emerging digital economy, BlocPal empowers consumers, merchants, and enterprise customers to participate now in this digital economy which includes cryptocurrency. At the core of BlocPal’s service is its decentralized blockchain transaction technology, which enables any currency or asset to be digitally signed and traded while complying with financial regulations.

With its suite of applications, BlocPal’s ecosystem supports a range of solutions for point-of-sale, e-commerce, white label enterprise solutions, loyalty rewards, financial network integrations and robust consumer digital wallets.

For further information, please contact:

OneFeather
Lawrence Lewis, CEO & Founder
lawrence@onefeather.ca

BlocPal International
Mike Edwards, President of Global Sales
info@blocpal.com


Investors are cautioned that actual results may differ substantially from the forward-looking statements contained in this press release. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors, product prices and changes in international and local markets, as well as the inherent risks of a FinTech related business. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Mike Edwards Joins BlocPal as President, Global Sales

Shares

Edwards brings over 30 years of experience in the POS industry

July 11, 2019, Vancouver, CA

BlocPal is proud to announce and welcome Mike Edwards as the company’s new President, Global Sales. Edwards will be responsible for sales team leadership, driving revenue, strategic partnerships as well as general management responsibilities. With over 30 years of intense experience in the POS industry, he brings to the company a proven track record of multi-million dollar revenue expansion within the fin tech industry.

“We are thrilled to have Mike on board leading our global sales efforts. The BlocPal technology is ready to play a significant role on a worldwide stage, and I’m certain he is the perfect person to help us make this possible,” said Nick Mellios, CEO of BlocPal.

Edwards brings 30 years of chief executive experience in building service organizations in the point-of-sale and credit/finance industry. His strengths are in creating rapid growth opportunities and optimizing sales efforts. Mike is responsible for growing market share and revenues at BlocPal. He brings expertise in vertical sales strategies and negotiating partnerships.

Formerly President of CCV, a POS/Check Verification service, Mike built an organization ranked #7 in payment processing in the USA by the Nilson Report. Mike also held Executive level positions at AmericaOne Finance and Continental Credit and was President of MEI Sales Seminars. Mike also donates time as Adjunct Professor of Advanced Business/Sales at Northwest University.

“It’s truly exciting to be playing a role in the expansion of BlocPal. When I met the team and witnessed the technology in action, I knew this was a rare opportunity to be part of something special,” explained Edwards.

About BlocPal International Inc.
BlocPal’s vision is to provide the world a simple, fast, and secure digital transaction platform that allows anyone to transact in their currency or asset of choice. A leader in the emerging digital economy, BlocPal empowers consumers, merchants, and enterprise customers to participate now in this digital economy which includes cryptocurrency. At the core of BlocPal’s service is its decentralized blockchain transaction technology, which enables any currency or asset to be digitally signed and traded while complying with financial regulations.

With its suite of applications, BlocPal’s ecosystem supports a range of solutions for point-of-sale, e-commerce, white label enterprise solutions, loyalty rewards, financial network integrations and robust consumer digital wallets.

For further information, please contact:

BlocPal International
Mike Edwards, President, Global Sales
+1 866-256-2725
info@blocpal.com

BlocPal and Tortooga to Launch a Digital Wallet Serving Grupo Movil Mexico’s 40 Million Users

Shares

Tortooga will launch a digital wallet serving Grupo Movil Mexico’s 40 million users, powered by BlocPal’s technology

PUEBLA, MEXICO and VANCOUVER, CANADA, MARCH 12, 2019

Grupo Tortooga S.A de C.V. (“Grupo Tortooga”), based out of Puebla Mexico, and BlocPal International Inc. (“BlocPal”), with headquarters in Vancouver, Canada, are pleased to announce their strategic partnership to jointly develop and release the Tortooga digital wallet in Mexico.

The partnership between Grupo Tortooga and BlocPal has been formed as part of GMM’s strategy to offer its 40 million customers and 60 thousand merchant partners in Mexico with a new upcoming suite of digital financial services.

Guillermo Hernandez Rojas, CEO of Grupo Movil Mexico (“GMM”) said “Grupo Movil Mexico is excited about integrating BlocPal’s platform with its new venture, Tortooga, whose goal is to provide GMM’s customers a digital suite of financial and payment services. BlocPal’s solution is a big step forward in this process.”

Matt Hoffar, CEO of Grupo Tortooga, said “We are thrilled about building a successful long-term partnership with BlocPal and GMM to bring digital solutions to both the banked and unbanked in Mexico.”

Grupo Tortooga will work together with BlocPal to deliver key initial features for the Tortooga digital wallet, enabling digital payments for pre-paid airtime, mobile data and utility bills. The development plan for the Tortooga digitial wallet will involve solutions for micropayments and remittances across North America and will support international currencies including MXN, USD and CAD. The Tortooga digital wallet will serve as a key platform for additional financial services to be developed and offered to GMM’s customers and partners. Planned, new features to be integrated will include more options for deposits and withdrawals and support for new currencies, including major digital currencies.

Nick Mellios, CEO of BlocPal, said “The partnership with Grupo Tortooga to serve Grupo Movil Mexico’s customers is a perfect fit with BlocPal’s vision to help bring financial power to everyone while building out support for the digital currency community. We couldn’t have asked for a better partner or opportunity to showcase our technology.”

About Grupo Movil Mexico
GMM, a prepaid airtime, data and bill payments provider in Puebla, Mexico, has over 40 million customers and 60,000 point of sale kiosks. The company has successfully operated for over 10 years throughout Mexico. GMM’s mission is to support the micro-business economy by providing its customers with the technological tools that allow them to achieve banking and formality, strengthening their competitiveness in the face of large national and international franchises. The current operations of GMM do not fall under the supervision of the Mexican National Banking and Securities Commission.

About Grupo Tortooga
Grupo Tortooga is a digital extension of Grupo Movil Mexico, the second largest prepaid airtime supplier in Mexico. GMM and DAP Management jointly invested to create Grupo Tortooga in 2018, with the goal to provide digital services and products to the existing GMM user base, enable lower transaction fees, speed-up cross border payments, and help the unbanked and underserved. Tortooga has offices in the city of Puebla and in Mexico City. Tortooga intends to fully comply with all applicable laws and is committed to continue to do so as the regulatory framework in Mexico evolves.

About BlocPal International Inc.
BlocPal believes in contributing to a financial world that is powered by everyone and open to everyone. The company has developed a digital financial platform to empower consumers, merchants, and enterprise customers to transact with any currency or asset in a simpler, faster and more secure way. At the core of BlocPal’s service is its decentralized blockchain which has been designed to enable any currency or asset to be digitally signed and traded while complying with financial regulations. With its suite of applications, white label solutions, software development kit and integrations to financial networks, BlocPal’s ecosystem supports multiple touchpoints in the transaction process. These touchpoints include point-of-sale terminals, e-commerce solutions and financial applications, thereby enabling any user, merchant and enterprise partner to easily and safely trade however they choose.

For further information, please contact:

Grupo Tortooga
Brodie Gunning, Investor Relations
info@tortooga.com.mx
.

BlocPal International
Elan Amir, Director of Marketing
info@blocpal.com

Investors are cautioned that actual results may differ substantially from the forward-looking statements contained in this press release. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors, product prices and changes in international and local markets, as well as the inherent risks of a FinTech related business. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

BlocPal Genesis Merger

Genesis FinTech Inc. Announces Merger with BlocPal International Inc.

Shares

VANCOUVER, British Columbia – Genesis Fintech Inc. (“Genesis” or the “Company”) announced it has signed a letter of intent (“LOI”) for a business combination with BlocPal International Inc.(“BlocPal”).

Pursuant to the terms of the Acquisition, Genesis will acquire 100% of the issued and outstanding shares in BlocPal, thereby acquiring BlocPal’s intellectual property, development program, operations and key personnel. As consideration, Genesis will issue to the BlocPal Common Shareholders three Genesis Common Shares for each one BlocPal Common Share held (3:1 ratio). Any options or warrants for the purchase of BlocPal Shares outstanding at the time of the Acquisition will also be adjusted using the same ratio. It is anticipated that, immediately prior to the business combination, Genesis will have 3,100,000 common shares issued and outstanding and BlocPal will have 28,982,000 common shares issued and outstanding. Upon completion of the business combination, it is anticipated that the resulting issuer will have 90,046,000 common shares issued and outstanding. The resulting issuer intends to raise up to $5 million in new equity financing.

Upon completion of the business combination, Mr. Nick Mellios will be named as the CEO and President of the resulting issuer. Nick Mellios currently owns 6,375,000 of the common shares of BlocPal. The resulting issuer will be a reporting issuer and intends to apply for a listing on a recognized Canadian stock exchange.

“BlocPal is one of the first and leading fintech blockchain payment processors in Canada,” according to Simon Cheng, Director of Genesis. “We are very excited about BlocPal’s proprietary intellectual property and first-mover platform designed to make blockchain and cryptocurrency transactions easier, safer and more efficient.”

“The combination with Genesis is a key next step in the evolution of BlocPal, as we formalize our path to a public listing on a Canadian stock exchange. BlocPal has invested $2.6 Million into its innovative blockchain payments platform and is currently preparing to launch solutions for merchants and enterprise partners. The public listing will help BlocPal continue to raise capital, support the growth of its user base and achieve revenue targets” said Nick Mellios, CEO of BlocPal.

About Genesis Fintech Inc.
Genesis Fintech is investigating opportunities in the fintech and blockchain payment sectors.

About BlocPal International Inc.
BlocPal provides an advanced FinTech digital payments infrastructure focused on bringing the significant benefits of blockchain and digital currencies to the mainstream. BlocPal’s mission is to provide a simpler, smarter and more secure way to transact with crypto and traditional currencies. BlocPal has designed the first ‘multi-currency, multi-fiat’ decentralized blockchain, using proprietary technology to simplify and secure payment processing. With extensive developer APIs, BlocPal’s ecosystem supports point-of-sale terminals, ecommerce sites and financial applications, enabling users, merchants and enterprise partners to easily and safely transact with crypto or international currencies.

For further information, please contact:

Simon Cheng
Director
Phone: 604-689-0618

BlocPal
Elan Amir
Director of Marketing
info@blocpal.com
www.blocpal.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

BlocPal and iBank Digital Enter Strategic Partnership

Shares

VANCOUVER, BC / January 24, 2019 / Joint Press Release 

BlocPal International Inc. (“BlocPal”) and iBank Digital Asset L.P. (“iBank Digital”, “iBank Exchange”) announced today the signing of their strategic partnership. BlocPal will provide iBank Digital with crypto and fiat currency transaction processing services and iBank Digital will provide BlocPal with security token listing and investment banking advisory services.

“We are very excited to launch the iBank Exchange, powered by Huobi Cloud (“Huobi Cloud”), providing Canadian traders and cryptocurrency users access to Huobi Cloud’s unmatched safety, stability, and user experience in addition to opening new opportunities for new coin issuers who are looking for liquidity, a listing and access to the global capital markets”, commented Manie Eagar, Chairman of iBank Digital.

Mr. Eagar continued, “We are also very excited to integrate with BlocPal’s proprietary intellectual property and first-mover platform, which is designed to make blockchain and cryptocurrency transactions easier, safer and more efficient in the Canadian and worldwide transactional markets. We are also looking forward to listing Blocpal’s BPX Security Token, once all necessary approvals have been received from the Canadian regulators. The BPX Security Token will entitle all holders to receive a royalty payment equal to 33% of BlocPal’s net profits, in addition to potential increases in the token value.”

“We are fortunate to build a strategic partnership with iBank Digital, who we believe is perfectly positioned to help us list and provide liquidity for our BlocPal security token via their relationship with Huobi Cloud,” said BlocPal Chief Executive Officer Nick Mellios. “BlocPal has also gained a great business opportunity to provide its services to iBank Exchange. With BlocPal’s crypto and fiat processing solutions integrated together with Huobi Cloud, we expect iBank Exchange to become one of the leading crypto-fiat trading and lending solutions offered in Canada, generating significant transaction revenue for all parties.”

About iBank Digital Asset (“iBank Digital”)

iBank Digital Asset L.P. (“iBank”), based in Vancouver, Canada, is a world leader in the facilitation and underwriting of crypto trading supported by Huobi Cloud and lending through the first open decentralized global lending network. We connect financial institutions and high net worth clients, providing the most convenient, secure, and fast trading interfaces and systems and intuitive and efficient new trading platforms for our global digital currency users. We are committed to promoting the IOST network and Blockchain development towards the advancement of global communities.

About BlocPal International Inc. (“BlocPal”)

BlocPal provides an advanced FinTech digital payments infrastructure focused on bringing the significant benefits of blockchain and digital currencies to the mainstream. BlocPal’s mission is to provide a simpler, smarter and more secure way to transact with crypto and traditional currencies. BlocPal has designed the first ‘multi-currency, multi-fiat’ decentralized blockchain, using proprietary technology to simplify and secure payment processing. With extensive developer APIs, BlocPal’s ecosystem supports point-of-sale terminals, ecommerce sites and financial applications, enabling users, merchants and enterprise partners to easily and safely transact with crypto or international currencies. 

About Huobi Cloud

Huobi Cloud is owned by Huobi Group, the world’s leading blockchain company and one of world’s largest digital asset trading platforms. Established in 2013, Huobi Group’s accumulative turnover exceeds US $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries. “Bring more efficiency to finance and more freedom to wealth” is the mission of Huobi Group. It always follows the management theory of putting the customer first.

For further information, please contact:

iBank Digital
Fanny (Ly) Travis
Corporate Secretary 
Phone: 604-689-0618

BlocPal
Elan Amir
Director of Marketing
info@blocpal.com 
www.blocpal.com

Why We Built BlocPal On Top of Bitcoin Architecture

Shares

Since its inception in 2017, BlocPal has been built with one key goal in mind: introducing the benefit of cryptocurrency and blockchain technology to contemporary society. To achieve this, our team chose to build the BlocPal platform over Bitcoin’s architecture. While there are a number of other exciting blockchain variants in use, with more being worked on every day, we decided to go with Bitcoin for a few reasons:

  • It has an excellent reputation. Bitcoin is the most popular, and arguably the most loved, blockchain in use.
  • It’s easy to use. Not only is Bitcoin one of the simplest blockchains to understand, due to its popularity and longevity, Bitcoin is also a platform most developers are familiar and comfortable with.
  • It’s reliable. Bitcoin has been operating since 2009, making it the most tested blockchain around, as well as the most stable and most used.
  • Bitcoin has a strong following. Along with the supporters Bitcoin has gathered over the years, the platform also has large miner support and is currently one of the most favored blockchains to mine.
  • Balance of security vs. features. Increased functionality provided by new blockchains also comes at the cost of introducing more risk in security. BlocPal carefully selected key features to upgrade on top of Bitcoin, including the ability to digitally sign any asset into the payload, know-your-customer (KYC), proof-of-work/proof-of-stake hybrid and the X16R hashing algorithm.

Building a Better Platform with BlocPal and Bitcoin

One of the key features that makes BlocPal stand apart from other platforms is its accessibility. It’s designed to suit the needs of everyone who spends digital money — both fiat money and cryptocurrencies — while being simple enough for beginners to use.

Ultimately, Bitcoin is aligned the closest with our vision for BlocPal. It’s easy to use and is a household name, even outside of the blockchain community. Our team of talented engineers have extensive experience working with the Bitcoin source code, making it easier for them to seamlessly implement BlocPal’s innovative features, offering the highest standard of security and customer support.

More on BlocPal

Along with Bitcoin, BlocPal has been designed to support Bitcoin Cash, Bitcoin SV, Ethereum, and Litecoin, with more cryptocurrencies on the way. Using the X16R hashing algorithm, BlocPal supports both POW and POS, and offers ongoing rewards to miners using its platform. As such, this makes BlocPal an easy and attractive choice for Bitcoin miners who want to participate in the next generation of blockchain technology.

Users can take advantage of BlocPal’s innovative multi-currency solution, which enables them to hold, convert, and spend a growing list of cryptocurrencies, as well as fiat. Currently, BlocPal supports USD, CAD, and EUR, but global currencies will continue to be added as the platform grows.

But BlocPal doesn’t just enable users to store money, it enables them to facilitate instant and guaranteed transactions for everyday use as well. Businesses supporting BlocPal can integrate its payment gateway into their point-of-sale system for in-store transactions, or use BlocPal’s online store APIs or ecommerce software plugins now available for WooCommerce and Magento, with more plugins on the way.

Learn more about BlocPal by visiting its official website today. There, you can download the BlocPal wallet for iOS and Android, as well as join the official BlocPal Telegram Group to stay up to date with news and events in real time.

BlocPal Allows Fiat Withdrawals

BlocPal Allows Fiat Withdrawals in USD and CAD

Shares

BlocPal is excited to announce the addition of EUR to its growing list of supported fiat currencies. The innovative multi-currency blockchain platform now allows users to convert supported cryptocurrencies into CAD, USD, and EUR currencies for users in selected countries.

BlocPal works with Ethereum, Bitcoin, Bitcoin Cash, Bitcoin SV and Litecoin, with more supported crypto and fiat currencies on the way. As BlocPal grows, users can expect to find more than 35 different cryptocurrencies supported on its easy-to-use platform, as well as integrating support in more than 120 countries and compatibility with 50 international currencies.

Offering the next generation in digital asset management, BlocPal makes it easier for individuals to buy and sell products using both cryptocurrency and fiat. To withdraw fiat currency using BlocPal, simply connect the platform to a personal bank account, or to a company account if you’re a merchant, and swap your cryptocurrency for fiat. It’s that easy.

Committed to providing easier conversions from crypto to fiat, BlocPal offers new users a $1,000 limit on all transactions, and will raise limits to individuals on a case-by-case basis. Over time, limits will be raised for all BlocPal users, enabling more people to convert their favorite cryptocurrencies into fiat in larger sums.

Another advantage BlocPal offers platforms with offering similar services is its fees structure. Because BlocPal uses ACH for transactions in the United States, the fees are much lower than traditional exchanges—averaging at $1.80 for a transaction. Processing time takes between 24-48 hours, but same-day service is also available for a premium charge of $12.80 for anyone who needs to immediately send or receive money.

Visit the BlocPal website today to learn more about BlocPal and how it can be used to enhance the way businesses and individuals manage money. Be sure to check back periodically, as the website is consistently updated to add new information regarding fees, supported currencies, and other developments.

Download the wallet directly from the Google Play store and iTunes App Store. Also, stay up to date with news surrounding BlocPal’s development and the release of exciting new features by joining the official BlocPal Telegram group.

About BlocPal
BlocPal is a Vancouver based FinTech company dedicated to the mission of “Blockchain Payments Done Right”. The BlocPal platform includes an integrated blockchain, an enterprise level back office together with both merchant and consumer software solutions. Interested parties can find more information on our website or downloading our app for their Android or Apple devices.

How to Set Up Your BlocPal Wallet

Shares

BlocPal is an innovative digital wallet which makes it easy for businesses and individuals to manage their digital assets. Through developments in critical partnerships like Bittrex, and other crypto exchanges in the works, BlocPal supports an expanding list of cryptocurrencies including Bitcoin, Bitcoin Cash, Litecoin, and Ethereum. Additionally, BlocPal supports a growing number of fiat like the Canadian and US Dollars.

Setting up your BlocPal Wallet is as easy as 1-2-3.

Creating a wallet is very simple. When you’re in the WALLETS tab you will see an option to +Create a Wallet. A new window will appear prompting for the Wallet Name.

Enter a secret passphrase. This is very important! Ideally you want to have a phrase known only to you and not easily hacked. For your safety it is not recommended to take a screenshot because your photos are often accessible by third-party apps. Write it down and put it in a safe place.

Once you have established and secured your passphrase a notification will appear that you have successfully created your wallet.

On BlocPal, you can create as many wallets as you’d like. Create one for personal use and one for business to keep track of your transactions. BlocPal is available for iOS and Android devices.

Video Instructions

How BlocPal Resolves Blockchain’s Chronic Scalability Problem

Shares

Since its inception, cryptocurrency has been praised for its ability to quickly and securely send money to anyone, anywhere in the world. What’s more, with the push for mainstream adoption, there’s been a growing need for blockchain payment processing platforms that allow users to buy and sell real-world items using cryptocurrency.

Historically, there’s been a level of uncertainty associated with blockchain-based payments. After all, it was just one year ago when Bitcoin had an average confirmation time of 78 minutes. There’s no denying that blockchain technology has a scalability problem, but the Vancouver-based startup, BlocPal, intends on changing that by revisiting the way transactions are processed.

By the end of 2019, BlocPal fully expects its platform to be capable of processing more than 1,000 real-time transactions per second, and they plan on achieving this thanks to a new and innovative feature: dynamic block sizes.

Scalability no longer a problem

With BlocPal, block sizes are uncapped and grow based on the transaction volume of previous blocks. This means that a block can grow from 1MB to 2MB, from 2MB to 4MB, and so on. As blocks grow in size, more data is allowed to be stored within each block. This translates to more transactions being added to the distributed ledger at one single time. In other words, BlocPal’s scalability means that more users are able to be accommodated as demand increases.

But BlocPal doesn’t just grow with volume, it also shrinks gradually as transactions decrease. By doing so, the blockchain is protected against unnecessary bloat, ensuring that transaction times are always at their fastest.

How BlocPal works

With BlocPal, blocks are formed on average every 2.5 minutes. Not unlike Bitcoin, each 1MB block is able to support an average of 2,020 transactions for BlocPal’s BPX tokens. When performing multi-currency transactions on the BlocPal blockchain, there is an additional payload involved in the transaction so therefore a 1MB block on the BlocPal blockchain can support on average a total of 1,010 multi-currency transactions. However, an exciting attribute of BlocPal’s solution is the ability to group transactions so they are executed in bulk batches. As a result, BlocPal’s architecture is able to compile multiple simultaneous multi-currency transactions from BlocPal wallets into a single bulk transaction recorded on the block, increasing scalability and making it easier to process multiple payments at once.

While a single 1MB block may process on average 1,010 multi-currency payload transactions, when these multi-currency transactions are grouped, that number multiples. For example, when 10 wallet transactions are grouped on a 1MB block, a total of 10,100 transactions within a 2.5-minute period (10 X 1,010 = 10,100) may be achieved.

Combined with the benefits of variable block sizes, the possibilities increase enormously.

If the block size increases to 4MB, the number of transactions processed within 2.5 minutes doubles to 20,200. Moreover, if the size of a block grows to 32MB, BlocPal will be processing roughly 320,000 multi-currency transactions every 2.5 minutes. That’s more than 2,000 multi-currency transactions per second, which is already higher than the average amount of transactions VisaNet has reported at 1700 transactions per second! With the ability to grow beyond 32MB blocks, the BlocPal blockchain has truly been set to scale for the future.

How has BlocPal performed thus far?

The BlocPal team has successfully facilitated approximately $30 billion in transactions over gaming platforms. Moreover, BlocPal recently integrated this back-office payment solution for gaming transactions and has fully customized it, providing users with complementary services to the BlocPal blockchain, including:

  • KYC/AML compliance
  • Wallet authentication
  • Integrations to multiple crypto and fiat currency exchange services
  • Integrations to global fiat payment networks

BlocPal offers the next generation in online payment solutions, providing users with a smarter, quicker, and more secure way to manage their digital assets.

Always growing, BlocPal currently supports USD and CAD, as well as Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, and Litecoin — with more currencies on the way. Visit the official website today to learn more about BlocPal and how you can use it to send and receive cryptocurrency safer and more effectively.