The coffee shop pays for bitcoin? Paid the startup Flexa crowdfunding to get $1410.

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In the early morning, the sun shines on your bed, grooming and going out. Then go to the coffee shop near the company, order a cappuccino and check out in bitcoin. Through the film on Flexa's official blog, it can be seen that the company is committed to achieving such a scene.

Although the scene in the film is Starbucks, a Starbucks spokesman made it clear that they are not working with Flexa.

In terms of token sales, at present, the more popular way of fund-raising is to use STO, the way of selling equity tokens. However, Flexa's private placement in the past six months has been conducted in the form of tokens rather than equity, which is rare in the current market. Similar to its fund-raising model, there are market forecast start-up Numerai.

TJ Abood, a partner at Access Ventures, said that while he was interested in Flexa's stake, he was also satisfied with the way he invested in Flexacoin because he thought Flexacoin could help his company.

Flexa co-founder Tyler Spalding (Tyler Spalding) declined to disclose the types of goods that could be purchased with the company's payment system in the future. Another foreign co-founder, Trevor Filter, stressed:

"the long-term goal is to provide payment services to merchants through the Internet. "

Payment service builds trust bridge with PoS

Flexa will operate the network in the form of equity mortgage certificates (Proof of Stake), and from capital such as Access Ventures to merchants like Starbucks, Flexacoin can be mortgaged online. In this way, enterprises and merchants can join the network and act as "class nodes" to gain the benefits of transaction fees.

However, Flexa's network is not a blockchain, but a payment system compatible with the ethernet network, which is an agreement. The protocol allows cryptographic currency to be converted into legal tender through this protocol. At present, Bitcoin, Ethernet coin, Lettercoin and Bitcoin cash are supported. Spalding describes it as an "elegant passage":

Flexa plans to launch a password currency escrow wallet App on the Internet, where users can scan with QR code similar to Apple Pay and pay in password currency.

"We hope that the total supply of Flexacoin is the money flow of this system. The network will be launched on May 13, and it is hoped that all participants will benefit. "said Spalding.

This is in line with the investment strategy of TJ Abood, a partner at Access Ventures. TJ then said:

"We appreciate the idea that it is both a user and a node. Any company we invest in will become a user of this system. "

On the other hand, Lasse Clausen, co-founder of 1kx, says his company also plans to become a node. He thinks this for-profit token network is better than traditional business. Referring to the symbiotic commercial acquisition strategy of Flexa, he added:

"in the traditional payment service provider model, if one day the payment service provider has a sufficient number of users, resulting in a network effect, what if they raise the service charge? How can merchants trust them? "

". That's why Flexa uses this to make merchants nodes. "

TJ goes on to say that this business-oriented structure can attract large brands that are interested in Bitcoin but do not want to bear its high risk. Separately, Spalding, co-founder of Flexa, said Flexa would work with exchange platforms to provide them with liquidity. In case there is a problem with the blockchain at the time of settlement, Flexacoin as collateral will become a compensation mechanism.

What is special about Flexa's payment agreement is that, compared with the operation of Coinbase's financial card as previously reported in the moving area, because the Crypto wallet is used in the process, the payment process does not disclose the user's personal capital.

Spalding of Flexa said that Flexa's agreement is a bridge between traditional mainstream merchants such as Starbucks and cryptographic currencies, and will also support other cryptographic currencies and stable currencies in the future. Before that, the company was working with exchanges and merchants to make the entire ecosystem more sound.