Subscription fatigue – a new term to describe a new phenomenon. It describes the reluctance of consumers to sign up to an ever increasing number of subscription services to access content such as movies, music, journalism, software and many other services. Although the internet was conceived as a free and open repository of information, paywalls have popped up everywhere, and most of us lack the budget to subscribe to a magazine just to read one interesting article.Get In Touch
One possible solution would be a widespread introduction of micropayments, which are typically less than a couple of dollars, and can be as small as a fraction of a cent.
It seems idealistic to envision a pay-as-you-go model of content consumption, free from the walled gardens of subscriptions. Once you think it, though, it is easy to see how applications of pay-as-you-go models could extend to other areas: gaming, microdonations, or simply sharing the cost of a snack with a friend.
Unfortunately, however, this remains just a vision. Current payment systems generally do not favor micropayments; required minimum purchases plus fees cost too much to make small transfers worthwhile. While large social-media or other data driven giants may be working on tipping models, those platforms raise privacy and cybersecurity concerns.
Blockchain technology seems to be a good fit, ostensibly enabling frictionless transfer of value. However, for multiple reasons, it has not been widely adopted for micropayments:
ImpracticalThe average user struggles to manage wallets and private keys on their own, whereas centralized exchanges charge additional fees.
ExpensiveCrypto exchanges typically charge transaction fees that would make micropayments unviable (i.e., Coinbase charges $0.99 for transactions up to $10).
VolatileThe volatility of cryptocurrencies like Bitcoin make them unsuited to everyday transactions.
The Geeq Difference
AccessibleThe Geeq network is open to all honest participants.
FairEvery transaction is important at Geeq and is validated as it is received.
ScalableMicropayments may happen in the trillions. Geeq’s independent multi-chain architecture scales without requiring chains to share each other’s overhead.
FrictionlessMicropayment technology means there is no reason to delay or worry about payments – make them as you go. Lower transaction costs translate to cost-savings and immediate processing saves time, reduces uncertainty, and allows you to get on with your day.
EnablingGeeq is prepared for a decentralized future: one with more connectivity and dramatically increased demand for everyday transactions to be transacted digitally and directly, on a platform that enables people to make their own decisions, without going through a financial or technological giant.
Transact at light speed for fractions of a cent
Explore how Geeq is revolutionising micropayments, opening new revenue streams and saving costs- all at scale.Download Presentation