The startup’s app makes it possible to spend Ethereum at over 11 million retailers. Moreover, there is support for nearly 400 million retailers in total, as online payment support is also built in. However, there are some obstacles in achieving this plan. The technology itself isn’t the big hurdle, but the potential regulatory impact in various countries, as not every region is pro-cryptocurrency.
Despite the initial enthusiasm, the Basepay team is aware the real battle has yet to begin. Especially in the US, where seeking money transmitter licenses for individual states will be a major obstacle.
Also, usability will depend on location and phone OS, with the target release date set for Q4 of 2018. Android users will receive access to this application first and foremost. iOS Support is coming later, as Apple usually takes longer when it comes to vetting new applications.
Future plans for this project include spending in all cryptocurrency wallets and the launch of an API. Open sourcing the code may occur as well, but not until the project is “perfected internally”, according to News BTC.
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