Blockchain Platform to Challenge App Stores With 'Borderless Payments'

A new platform is going to allow anyone to establish their own eCommerce content store and receive payments from anywhere in the world - reducing costs for their consumers and opening the door to fast-growing emerging markets.

The platform would allow service providers and other entreprises to build up applications or services on it's blockchain.

The company says its "Dynamic" blockchain-based system will help services with significant numbers of users and subscribers - such as social networks, game developers and video streaming sites - benefit from an "End-to-end distribution and payment platform" where transaction fees are greatly reduced.

According to Bezant's white paper, major players in the global market such as Apple's App Store are putting small providers at a disadvantage.

The company cites research from Statista which values the digital payments industry at $3.6 trln this year - and projected to grow at a compound rate of 13.5 percent each year until 2022.

The proportion of transactions completed on smartphones is also increasing, and Bezant intends to ensure all of these payments can be "Borderless."

"Instantaneous, exchangeable, global, convenient"Bezant's blockchain service platform will be made available to merchants and consumers worldwide through the Jehmi Payment Network - described as a network where "Hundreds of payment methods" are aggregated in one place.

As well as cash payments, bank transfers, prepaid cards and billing through SMS, Jehmi will also accept Bezant tokens, the platform's own cryptocurrency.

The company says using Jehmi "Enables local payments on a global scale," as both digital and physical goods can be purchased using the fiat currencies of emerging markets.

Bezant also hopes to challenge major app stores through the Jehmi Content Platform, where content providers, end users and distribution partners will enjoy a "Better ecosystem" for delivering digital content.