"Swapbit" – A crowdsourced marketplace to swap bitcoins in exchange for fulfilling traditional non-bitcoin based transactions. – The problem

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"Swapbit" – A crowdsourced marketplace to swap bitcoins in exchange for fulfilling traditional non-bitcoin based transactions. – The problem

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"Swapbit"

A crowdsourced marketplace to swap bitcoins in exchange for fulfilling traditional non-bitcoin based transactions.

Created by Codesapians / @codesap

The current trends in payments

  • Credit cards make up 48% of payments
  • Debit cards make up 30% of payments
  • Paypal is 12%
  • Bitcoin may lie only in the 10%

    Source: http://www.creditcards.com/credit-card-news/payment-method-statistics-1276.php

The Future trends in payments

  • 4% of Millennial small business owners use alternative (non- bank) financing
  • Debit cards make up 30% of payments
  • Less than half have a credit card
  • 33% believe they won't need a bank in 5 years

    Source: Bank of America, Viacom, Accenture, Goldman Sachs Global Investment Research

The problem

Despite being a lucrative currency at this age, hundreds and thousands of merchants are still yet to accept bitcoin as an accepted form of payment. We can bridge that gap instantly.

Problems we face

Credit cards are still much difficult to procure in countries like India (especially for students like us). Bitcoins are a far more easier.

How bitcoin solves the problem

  • No forms to fill
  • Pseudo-anonymous

Features of bitcoin

  • They are global.
  • No direct restrictions on bitcoin usage in India.
  • Tax free.

Role of our product: Swapbit

  • Shop on any site using bitcoins
  • Ensure broader adoption of bitcoin
  • Make bitcoins easily
  • Exclusive offers for shoppers

What goes on inside: How people CAN use SwapBit

Post the link to a product online that one wants to purchase Load the escrow wallet with equivalent amount of bitcoins Wait for bidders to accept the listing. Bidders can be given option to negotiate their price from the estimate. Bitcoins are transferred after the bidder has fulfilled the purchase by providing valid proof.

Business plan

  • Percentage based transaction fee
  • Affiliate recommedations for products from shopping sites like flipkart, snapdeal etc.
  • 3 types of premium subscription plans on platform. (monthly/annually)

Now's the right time!

  • Internet's own currency is booming.
  • Encourage buying and spending of bitcoins.
  • The modern age is moving towards new types of currencies.

THANK YOU

Ping us!

- www.sv.co/startups/codesap contact@codesap.com

"Swapbit" A crowdsourced marketplace to swap bitcoins in exchange for fulfilling traditional non-bitcoin based transactions. Created by Codesapians / @codesap