The new service uses SmartLink technology. The app generates a Zoom link and sends it to the target audience. Besides, the app processes payments automatically.
Zoom Video Communications, the leading US communications technology company, has integrated a blockchain-based application for the first time to accept payments with cryptocurrencies.
The name of this app is SmartSessions. It is an Ethereum-based cryptocurrency payment method that enables companies and “lonely entrepreneurs” to take advantage of crypto payments. These companies or entrepreneurs can offer services and receive payments through Zoom.
The platform in charge of developing this app is 2key New Economics. The idea is for the business owners to monetize video calls with cryptocurrencies. The integration of SmartSessions with Zoom opens a new opportunity. Whilst the coronavirus pandemic makes it difficult for businesses to earn an income, this new App allows you to receive cryptocurrencies quickly, easily, and safely.
Local media confirmed the information. As indicated by Zoom via email, this blockchain solution can mainly help those who are using Zoom to offer their services, despite the quarantine.
This new app could be useful for people who, due to the quarantine to prevent Covid-19, had to leave their jobs. For instance, the new App could help those who do activities such as yoga, consultants, or mentors. Now, these people could continue offering their sessions through Zoom videos and, also, receive payments in cryptocurrencies.
How Does It Work?
According to local media, this new service uses SmartLink technology and will allow business owners to combine the Zoom service with the management of payments in cryptocurrencies.
To receive their payment, users must add a payment wall to the video calls they make using Zoom. This way of operating would facilitate the process of generating income from viewers who access video calls.
SmartSessions generates a custom Zoom link and sends it to the target audience. Besides, the app processes payments automatically. The session host can also view the metrics for more information. In the metrics, the user will be able to see how ticket sales are going.
Users can purchase tickets for Zoom sessions with Ethereum’s native cryptocurrency Ether (ETH). In that sense, representatives of the 2key platform explained that automatic exchanges between Ether and DAIs, such as Tether (USDT) and TrueUSD (TUSD) will soon be available through a cryptocurrency liquidity network called Kyber. Bitcoin (BTC) and other cryptocurrencies are slated and ready to be available next quarter.
Ticket buyers will be able to buy Ether using a credit card within the app. Users will also have 17 different fiat currencies available to pay for digital assets.
Similarly, those who share Zoom invitations will also be able to earn rewards at ETH. Thus, these users who are third parties will be able to obtain a portion of any ticket sales they generate.
Currently, businesses that want to receive payments through Zoom sessions will have to use PayPal or bank transfers. Each participant will be billed separately.
Regarding security levels, representatives of the 2key platform indicated that the “Zoom bombing”, where unwanted members join a call with the purpose of disturbing, will not be a problem. The platform also will guarantee security since only participants who have paid will have access to the session.
Thus, Zoom joins social networks such as Facebook and message platforms that will allow to process and receive payments with cryptocurrencies, something that would help to make international transfers faster. This development will help the adoption of these digital assets.
By María Rodríguez
