The collaboration will result in the platform that enable direct payments for content using blockchain
On January 31, 2019, media outlet London South East reported that the company Axel Springer – one of the largest digital publishers worldwide – had partnered with blockchain startup SatoshiPay. The collaboration aims to enable direct payments using blockchain technology.
Axel Springer embraces a number of media news brands including Rolling Stone Business Insider, and others. The company reportedly generated around 3.7 billion USD in total revenues during the financial year of 2015.
The partnership between Axel Springer and SatoshiPay will supposedly result in the development of a platform where customers will be able to pay for the content using SatoshiPay Wallet. The new service will be integrated into Axel Springer products. It will eliminate third parties from the payment process, significantly reducing transaction costs – payments from the user's device to the publisher will not include any intermediary.
Valentin Schöndienst – the senior Vice President of new business at Axel Springer – said: “Blockchain payments can significantly reduce transaction costs and thus enable new monetisation systems for content. SatoshiPay offers a turnkey solution that allows us to instantly use blockchain technology and offer it to our customers”.
Author: Alena Snezhnaya