E-commerce-centric Blockchain aBey Announces Startling Adoption

News provided by aBey Foundation
Jul 30, 2019 17:08 KST

VADUZ, LICHTENSTEIN--(Business Wire / Korea Newswire) July 30, 2019 -- July 30, 2019-The aBey Foundation today announced adoption rates of the world’s first e-commerce-centric fast blockchain, on the one-year anniversary of its public release. Dr. Ciprian Pungila, chief scientist and co-creator of aBey said, “Since public launch of aBey on July 30, 2018, we have amassed more than 100,000 active users within the first twelve months of that date. aBey’s growth rate exceeds Bitcoin’s early growth by a factor of more than eight times.”

Major early adopter, aPay Systems, based in Malta, a high-volume online payments processor, chose the aBey blockchain as the technical underpinning of the company’s service. Philipp Saurborn, CEO said, “As a payments processor with inter-chain operability and up to 100K transactions per second, our B2B and B2C users demand speedy transaction completions. Before we migrated to aBey’s blockchain, transactions written to popular blockchains would require hours, even days to complete. Now, with aBey, we can complete every single transaction in milliseconds. There is no other blockchain on earth which can deliver such speed and flexibility, which is demanded by business and consumers.”

Mr. Saurborn said, “One of the future’s great revenue models for any company relying on the provision of quality data is to reward audiences for providing data willingly, and for interaction on their platform. The aBey blockchain allows retailers to reward buyers for providing data, for sharing, for completing surveys, for using offers, for referrals, voting, comparing, reviewing, liking, promoting, testing, using — the possibilities are endless with aBey. They aBey blockchain empowers retailers to attract, retain and motivate their customers while building trust relationships, all of which are key for conversion and retention.”

aBey’s key features include speed, supporting up to 100K transactions per second (verified in SpringerNature and Academia.edu), refundable transactions (a world’s first), intrinsic lending, including on-the-spot lending with instant compliance checks using Vault Lending Gateways (a world’s first), support for affiliate marketing referrals and payment of commissions using Trusted Payments Gateways (a world’s first), payment processing on chain and a simple crypto wallet. Optional account names that can replace long cryptic numbers are intrinsic to aBey and are not a paid service as with other blockchains, greatly enhancing users’ discovery of other permissionless users in their networks. A richly-featured WordPress plugin, aBeyWPP, will be released in early 2020, bringing click-to-buy and transaction status functionality to more than 75 million websites.

Mr. Saurborn said, “Integrating aBey’s permissionless blockchain and distributed ledger technology into our permissioned aPay blockchain service means peace of mind for us, our clients and regulators.”

“aBey was designed and built to be the world’s fastest and most flexible open-source blockchain,” Pungila said. “We’re seeing spectacular adoption, and we can’t wait to see what other applications will be built on aBey.”

The non-profit aBey Foundation, based in Lichtenstein, provides governance for the free open-sourced aBey blockchain. http://abey.org

Please download the aBey media backgrounder kit in English http://bit.ly/abey3 or Chinese http://bit.ly/abey5 and visit http://abey.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20190729005775/en/

Website: http://abey.org/

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aBey Foundation
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