NEW YORK, Dec. 27, 2018 /PRNewswire/ -- Shopping Cart Elite, Paytomat and Bitcoin Diamond (BCD) have contributed technology to make possible the launch of Chimpion (CHIMP), a new cryptocurrency designed to further drive e-commerce adoption. Chimpion's mission is to create a blockchain-enabled economy by empowering merchants of all sizes to adopt e-commerce through digital currency. Combining the features of major e-commerce platforms with the benefits of cryptocurrency, Chimpion is a community-driven project in which anyone can participate.
Since the early introduction of Amazon and eBay, e-commerce has become a massive industry. In 2017, retail e-commerce sales alone totaled $2.3 trillion, on top of which B2B e-commerce sales made up for another $7.7 trillion. As e-commerce popularity grew, so did the demand for faster transactions, lower fees and more accessibility. Cryptocurrency has since rapidly emerged as the next evolution of e-commerce transactions. Matching the functionality of fiat currency, cryptocurrency goes beyond in features such as security, transaction speed, affordability, transferability across international boundaries and, in some cases, even immunity to inflation.
"A major problem that persists with e-commerce is that it's difficult for small businesses," said Alex Arnaut, Chimpion's chairman and co-founder. "E-commerce merchants face security issues, payment delays and difficulty selling internationally, not to mention the expensive fees charged by payment processors. Chimpion is providing merchants with a platform that leverages cryptocurrency to eliminate these issues and open them to new markets."
Chimpion's innovative technology allows merchants to easily accept cryptocurrency payments, setting their altcoin of choice as the base currency denomination. Chimpion also offers merchants income stream flexibility by providing protection from ongoing trade wars, unpredictable inflation and fluctuating interest rates, independent of whether they deal in fiat or crypto. Most importantly, Chimpion is simple to use with no need for advanced technical knowledge, making the platform accessible to nearly any merchant.
Beginning in early 2019, Chimpion stores will be opened in waves, starting with Asia and progressing to Europe, Middle East, South America and Africa. To assist small business owners in launching their own crypto e-commerce storefronts, Chimpion will launch CHIMP Academy. The organization also has plans to add plugins for eBay migration, Amazon import and inventory control, all developed by Shopping Cart Elite. Chimpion also plans to release the Chimpion Wallet in early 2019, based on Bitcoin Diamond's BCD Pay Wallet, including trading integration.
Chimpion is a cryptocurrency e-commerce platform that enables any merchant to begin accepting cryptocurrency payments online. By holding Chimpion (CHIMP), merchants can gain access to Chimpion's robust crypto e-commerce platform for free, without needing to pay a monthly subscription fee. Chimpion was developed using technology from Shopping Cart Elite, Paytomat and Bitcoin Diamond (BCD) and combines comprehensive e-commerce features with convenient payment processing.
Chimpion's primary goal is to drive the adoption of cryptocurrency as a payment solution by operating a rich e-commerce platform centered around digital assets. New startups and established merchants alike can become part of Chimpion's vast network to take advantage of its fast and affordable transactions and user-friendly infrastructure.