(Ping! Zine Web Tech Magazine) – Enabling broader bitcoin adoption requires more individuals and businesses to utilize the digital currency as a means of payment for goods and services. MerchantCoin is mobilizing a global team of “Advocates” to spread the message to merchants about the benefits of bitcoin and encourage them to participate by registering their business with MerchantCoin and establishing a wallet. The process is called Merchant Mining, a play on the industry’s current mining reward program, replacing computer efforts with human effort. The program is designed to incentivize both merchants and referring partners (Advocates) responsible for introducing the new business to MerchantCoin.
“Merchant Coin is the first self sustaining, marketing centric crypto currency to incentivize consumers, advocates and businesses to acquire and use bitcoin by rewarding personal initiative,” said Kirk St. Johns, MerchantCoin Co-Founder. “Through Proof of Commerce the Merchant Mining process immediately rewards key participants in the transaction and facilitates bitcoin adoption.”
Upon a business registering with MerchantCoin and completing a bitcoin transaction, the new merchant and referring advocate each receive a current reward of 500 MerchantCoin tokens “XMC” per new business location. As a digital currency “XMC” tokens may be accumulated and spent like bitcoin at any participating merchant. The value of “XMC” will be determined by the open market and be found on crypto-currency exchanges.
To equip advocates for Merchant Mining, MerchantCoin provides a complete Toolkit of promotional materials and information: http://merchantcoin.net/advocate/toolbox/
To support newly registered businesses, MerchantCoin will offer a completely free and open-source ecommerce ecosystem, including a web portal, website, storefront, content management system, shopping cart, payment gateway/point of sale solution, wallet and exchange platform. The MerchantCoin ecosystem is in development with an anticipated beta launch on September 30, 2014.
To register as a MerchantCoin merchant, go to: http://merchantcoin.net/merchant-registration/
To become a MerchantCoin advocate, go to: http://merchantcoin.net/advocate-registration/
For more information about Merchant Mining, go to: http://merchantcoin.net/merchant-mining/
For more information about MerchantCoin go to http://www.MerchantCoin.net or contact Maya Babish at maya(at)merchantcoin(dot)net
MerchantCoin is domiciled in Zug, Switzerland and maintains an office in Tacoma, Washington. MerchantCoin is the first digital currency brought to market with the sole purpose of driving adoption of crypto currency payments in the consumer merchant transaction process. MerchantCoin drives this adoption through a unique set of incentive programs that motivate and empower people (“Advocates”) in their local market; promotional and educational materials that highlight and explain the value of bitcoin transactions; and technology that provides ease-of-use, leverages the inherent security in the crypto-currency blockchain and eliminates the credit card fees associated with ecommerce transactions.