WATERLOO, ON., Aug. 5, 2021 /PRNewswire/ -- A new technology paves the way for frictionless digital micropayments. Blockchain innovator Geeq Corporation is building a demonstration of its game-changing payment technology. It operates through tiny digital cash-like payments, enabling direct online transactions for fees as low as $0.0001.
"The practical implications of Geeq Pay are immense," says Geeq founder and CEO Ric Asselstine. "For the first time, it will be possible to efficiently transfer a few cents for trivial fees. From gamers to givers, it can radically reduce the cost of any type of online payment. This opens up entirely new use cases and markets, from pay-as-you-go digital services to machine-to-machine transactions, smart logistics and smart mobility."
"On top of this, the computational lightness of Geeq makes it far more sustainable than the protocols currently used to power cryptocurrencies. As Geeq is not dependent on power-hungry mining, the network effects that come with wide-scale adoption can be harnessed without eco-anxiety."
In May the company filed an application via the Patent Cooperation Treaty (PCT), building on its earlier United States Patent & Trademark Office (USPTO) filing, with the aim of global protection. The PCT enables successful applicants to hold a priority position in its 153 contracting states for up to 31 months before making local filings. Geeq's new PCT filing also encompasses subject matter related to multiple signature (multisig) accounts and multisig payment transactions for the chain-based ledgers at Geeq.
Geeq is now inviting interested parties to participate in the micropayment layer demo. Micropayments have the potential to open new revenue streams in various industries, particularly for content creators and non-profit fundraisers, as well as enable significant savings on international remittances. Anyone keen to explore the potential of taking or making online payments directly and at very low cost can learn more by signing up here: http://geeq.io/spotlight-go-micro
About the Geeq Project
Geeq is a multi-blockchain platform secured by an entirely new consensus mechanism called Proof of Honesty (PoH), which radically reduces the cost and environmental impact of securely transacting value at scale. It is safe enough for highly valuable data, fast and cheap enough for IoT, and flexible enough for any use.
Geeq was founded by a team of expert economists and technologists. The founders see unprecedented opportunity in decentralized technology that to date has not been realized, as existing blockchains are caught in a trade-off between scalability and security. Geeq resolves the dilemma with an accessible, dependable, low-cost solution that does not sacrifice either trust or capacity, unlocking blockchain's real potential for the real world.