Technology news site, The Register, has teamed with SatoshiPay to test a new micro-payment program for content on its website. The trial program will allow users to purchase credits in the form of Stellar Lumens (XLM) from The Register’s website. Users will then be able to apply the purchase towards reading the, “Geeks Guide to Britain,” ad-free.
The Register-SatoshiPay Partnership
Even though the new payment option is only a trial, there are plans to adopt the model more broadly. Though, the trial must prove successful. This marks SatoshiPay’s first official partnership with a major news outlet.
SatoshiPay has already negotiated a partnership with PayPal that will allow anyone with funds in their PayPal account to create a SatoshiPay wallet. In return, the creation of the wallet will make it easy for people to make payments in Stellar Lumens on the back end. The payment system also plans to integrate credit payments as well.
According to SatoshiPay founder, Meinhard Benn, there is a significant change in the way people consume media. He says technology is playing a crucial role. Additionally, Benn expects blockchain technology and Stellar to be a significant enabler of the evolution.
“With micropayments, publishers can cater for their readers’ demand for reduced advertising, whilst charging a small fee for viewing content. This is SatoshiPay’s first entry into mainstream publishing in the UK, and we are proud to have partnered with one of the most outspoken and celebrated technology publications in the world,” said Mr. Benn.
Stellar Development Foundation co-founder, Jeb McCaleb, expects the new partnership between SatoshiPay and The Register to have a significant impact on Stellar Lumens and the cryptocurrency community at large.
The use of Stellar Lumens to access content on one of the most popular technological websites underscores a potential aggressive adoption of cryptocurrency payments. Furthermore, McCaleb expects SatoshiPay to make micro-payments faster and cheaper, and in the process bolster the publishing industry in the quest to unlock more revenue.
In addition to the new partnership with The Register, SatoshiPay has announced the second wave of an XLM giveaway. The micro-payment service plans to grant 20,000 users a total of 50 XLM on a first come first serve basis. Upon completion, SatoshiPay will have issued 1.22 million XLM as a way of kick starting the SatoshiPay ecosystem. Furthermore, 48.8 million XLM donated tokens remain for distribution by the Stellar Development Fund.