Why App Developers Want A Blockchain Payment Solution

Mobile application developers face many obstacles with the current system of application monetization. These difficulties include:

• Expensive transaction fees (up to 30% fees)
• Cash flow Delays (60-90 day payment processing)
• Centralized governance (App Store/Google Play)

A decentralized payment system that leverages blockchain would solve many of the problems faced by application developers, and at the same time, provide important benefits:

• Instant Transactions: Using a decentralized payment system that accepts cryptocurrencies allows developers to receive payments directly in their wallets. This overcomes the difficulties with cash flow, where a user payment can take 60-90 days to reach an application developer.
• Affordable Transaction Fees: Since a decentralized payment does not suffer from the same inefficiencies of a centralized system, transaction fees will only get cheaper as more individuals join the market and the system is optimized.
• Decentralized benefits: With a decentralized payment system, it is possible to bypass the inefficiencies of traditional payment processors. Decentralized hosting is an option, freeing the developer from restrictions imposed by institutions like the App Store and Google Play.

OPEN Platform makes it easy for developers to utilize Blockchain Payment Systems

OPEN Platform has a mission to make it easy for application developers to reap the benefits of cryptocurrency payments, by integrating their applications with decentralized payment systems. An application developer can use the OPEN API to effortlessly set up their application’s payment scheme and begin accepting any cryptocurrency. The OPEN Platform abstracts away the complexity of the blockchain and smart contracts, leaving developers to do what they do best — create.

Application Integration Takes Minutes

On the OPEN Platform, a developer can integrate a payment scheme onto their application in a few simple steps:

1. A mobile app developer sets up an OPEN Wallet.
2. A mobile app developer creates a specific payment schema for their application and connects it to their OPEN Wallet.

Now, all the developer has to do is copy and paste the OPEN API into their application code, and their payment system is up.

The end result is a simple, decentralized payment gateway that provides transparency and efficiency for all parties involved. This gives the developer the ability to:

• Add new payment options
• Instantly change prices
• Port OPEN payments onto other blockchains (like Neo and RChain)

The Future of Mobile App Payments

Today, application developers are waiting to experience the autonomy that can be provided by decentralized payments. Not only will the decentralized payment system enabled by OPEN make accepting payments more profitable for developers, it will make it easier for end-users to pay for digital goods with cryptocurrency. This helps bring cryptocurrency adoption to the mainstream. The future is OPEN!

For more information download the OPEN white paper here.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.