Harnessing Fear To Drive Innovation

Richard Branson dealt with dyslexia as a child and was a very poor student in school. On his last day of school, his headmaster told him he would either end up in jail or become a millionaire. We all know what he is today. Branson is successful not only due to his persistent drive but also due to his fear of failure. What makes him different is how he used that fear to harness innovation throughout his Virgin Empire.

Michael Jordan was told by his high school basketball coach that he was too short to play competitive basketball. Jordan went on to become a 6-time NBA Champion, 5-time NBA MVP and 10-time scoring champion throughout his illustrious career. While he may have not have had the height, he sure climbed the summit of an all-time great through creativity and invention.

“Fear is also the basis behind our innovation here at BlockPay. Fear of financial systems shutting down or going offline, fear for our privacy and security being compromised, fear of governmental interference and regulations in our financial systems. Fear serves as our biggest motivator to create, to build and to innovate. We consider it our duty and responsibility to provide the best possible solutions to the worries and problems that plague our current financial ecosystem.” explains CEO, Christoph Hering

Fear of financial systems shutting down or going offline

In September of last year ING Bank’s main data centre in Bucharest, Romania, was severely damaged during a fire extinguishing test. Dozens of hard drives were destroyed and the bank was offline as it relied solely on its backup data centre to handle the transactional load. As a result clients were unable to use debit cards and to perform online banking operations.

“We are addressing this by building BlockPay on our own IPFS (Inter-Planetary File Sharing) version called C-IPFS. C-IPFS allows for the efficient distribution of high volumes of data. It is also decentralized, meaning that if a server goes down anywhere in the world, you will not have to worry about not having access to your data, BlockPay or your digital currencies. It does this by allowing C-IPFS nodes to download or stream files from multiple servers simultaneously. C-IPFS will also reduce the amount of data that will be stored on your phone, eliminate down-time and guarantee higher security standards for blockchain-based payment systems.” explains Hering.

Fear of governmental interference and regulations in our financial systems

Individual surveillance of payments occurs by the likes of the FBI and the NSA, but what if routinized mass surveillance became a norm? In documents leaked by Edward Snowden, NSA’s surveillance program, X-Keyscore was found to contain selection rules that will include anyone that has not only used, but also visited online privacy-protection tools such as Tor Network into a government watch list.

Payment intermediaries not only have access to all of your online transaction history but also have the ability to censor or stop your transactions. Remember when Visa, PayPal and MasterCard tried to choke all donations from Wikileaks?

BlockPay allows you to take back your privacy and ensure your security with the innovative utilisation of a decentralised digital currency system using Blockchain technologies. BlockPay will be a peerless point-of-sales platform that aggregates multiple digital currencies and combines their communities by providing one agnostic solution for all. Due to its decentralization it cannot be regulated by a financial institution or government, keeping your transactions private and secure, safe from the prying eyes of Big Brother.

While fear can be a handicap, it can also be a driving force for change. We used fear to harness our creativity and innovation to drive BlockPay forward. We are laying the foundations for a system free from fear. Fear of inaccessibility, inadequate security and the prying eyes of governments. But just like Rome, this endeavour needs to be built brick by brick, stone by stone.

Unfortunately for us we have no peers in the Blockchain industry, peers who complement or even push us, so we have to build everything ourselves. It will take longer and the journey will be harder but at the very least we will know it has been built right.

So fear not, BlockPay is here but we will need your help to bring the construction of this tool to a reality.

How can you help?

  1. Make sure you stay up-to-date with our updates on Facebook and Twitter.
  2. Stay informed about financial regulations that may affect you.
  3. Begin studying and investing in a digital currency.
  4. For Private: Download Smartcoins Wallet here: Play Store (App Store coming soon).
  5. For Business: Download BlockPay here: Play Store (App Store coming soon).
  6. Take part in our ICO this coming summer, more details to follow.

If these are fears that have been plaguing you too, we would like to hear from you. Write to us at info@blockpay.ch.


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