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How It Works
Consumer buys a product or consumes a service from a merchant using one of our products. For example a customer orders food in a restaurant
using BELUGA’s Restaurant Edition Application.
Consumer makes payment for the product or service using Fiat Currency (ex. $USD) or Crypto currency (Bitcoin, Ether or BBI).
If the payment is made using a credit card in Fiat Currency, the merchant can decide to use BBI tokens in order to receive an Instant Merchant Deposit* instead of having to wait the traditional two working days for the settlement to occur.
If the payment is made using cryptocurrency, the settlement process is initiated and the payment to the merchant in the form of the respective
cryptocurrency is transferred instantly.
Loyalty points are accumulated for consumers on every purchase of a product and service. Loyalty points for merchants are accumulated on
every sale of a product and service.
Loyalty points can be redeemed when the consumer or merchant collect enough points. Loyalty points are redeemed in the form Fiat currencies or BELUGA’s BBI crypto currency or other cryptocurrency.
The ratio of points with currencies is calculated using built-in congurators and Oracles based on the market dynamics.
Beluga enables merchants to accept VISA, Mastercard and all major cryptocurrencies.
Real-time metrics allow merchants to control their business in realtime.
Monitor and manage cash, card and crypto transactions.
Winter 2014
Fall 2015
Summer 2016
Summer 2017
September 26, 2017
December 1, 2017
January 14, 2018
January 15, 2018
February 14, 2018
March 1, 2018
Summer 2018
Verified 25%
Attention. There is a risk that unverified members are not actually members of the team
Verified 0%
Attention. There is a risk that unverified members are not actually members of the team
Summary
Overall, Beluga has stiff competition when it comes to creating the next decentralized banking app. However, its ability to help merchants receive better pay will help small businesses and companies grow. We hope to see more from this ICO as it continues to help non bank owners and smaller companies gain the financial freedom they need.
Positives
Merchant Incentives: Beluga is made for merchants who want to receive both crypto and fiat money for their services. With Beluga, they can receive both forms of currency instantly.
Decentralized Banking: Users without bank accounts can easily make an account with Beluga and start buying products and services. This helps increase the global economy.
Better Infrastructure: With Beluga, you can expect lower transaction fees, faster speeds, and a better way to obtain money without having to use a traditional bank account.
Negatives
Competition: There are already ICO projects that provide the same service. Such high competition could make it hard for this project to increase in value over time.
Protection: While Beluga does help in creating a decentralized banking app, we wonder how it will help when solving disputes.
Beluga Pay has benefits to business and consumers using the products to make payment. One is able to pay for products and services using cryptocurrency. They can also send money to all parts of the world under an improved storage of funds. There has been an increased opportunity to earn from the BBI ICO where one earns 0.5% of the system fees applied from all transactions. There has been a significant growth in the ability to process cryptocurrency to Fiat for a stable financial performance in the market.
