TL;DR
- Nimiq is building a growing ecosystem of cryptocurrency-acceptance locations, and they plan to surpass Bitcoin in 3 years.
- The Nimiq Pay app will be launched on the Apple and Google Play stores.
- The Nimiq Pay app shifts the focus from platform-dependent payment solutions to a more mobile native approach, focusing on NFC and typical push notifications, among others.
We are constantly seeing innovations around cryptocurrency payment solutions. As Bitcoin was initially intended, crypto coins were envisioned to replace traditional finance (TradFi). Although the vision is yet to be achieved, Bitcoin has morphed into other things and seems to have found its purpose within the digital asset space as a speculative store of value.
Nimiq is a blockchain company that strives to achieve even more than Bitcoin has managed so far. Ideally, the financial sector is yet to be totally revolutionized. Nimiq, through its Nimiq Pay mobile app, available for both iOS and Android devices, seeks to employ mobile-native technologies to revolutionize crypto payment services.
The Nimiq ecosystem aims to be the world’s most widely used and accepted crypto payment service. The team launched Nimiq Pay during the vibrant Token2049 week in Dubai. The app provides a self-custodial cryptocurrency payments application that integrates payments across fiat-based systems in TradFi and multiple blockchain networks.
More on the Newly Released Nimiq App
Nimiq App was recently launched in Dubai during the Token2049 week with massive plans to disrupt the crypto payment system. The app will be the first crypto payments application to integrate cross-chain atomic swaps into the Bitcoin Lightning Network. The cross-chain atomic swaps will ensure the seamless transfer of cryptocurrencies across different blockchain networks, enhancing interoperability and allowing for the growth of the crypto payment app.
Nimiq’s project goals are pretty evident in the coming years. The cross-chain atomic swaps will allow Nimiq Pay users to process payments at more than 15,000 global locations that already accept payments on the Bitcoin Lightning Network.
The Nimiq blockchain network is governed by its native digital token, NIM. The team projects that NIM will grow to become the preferred payment currency, replacing Bitcoin, a token that has since morphed into a speculative digital asset held mostly for value gain.
The NIM token is built to support Nimiq Pay’s vision of providing efficient online and local payment mechanisms.
“Through enabling BTC Lightning network payments with NIM in a self-custodial way and constantly integrating new payment partners into our expanding network of acceptance locations, Nimiq is poised to become the world’s premier crypto payment ecosystem.” said Max Burger, the Ecosystem Developer at Nimiq.
Nimiq plans to revolutionize the space by providing incentives for businesses to spearhead its adoption. By providing lucrative deals to companies and brands, Nimiq can tap into the already large pool of customers by providing loyalty programs and other adoption campaigns to penetrate the market. Unlike Bitcoin, NIM will position itself as a currency for everyday use, making it easier to penetrate the market.
The team is very confident in their product and speculates on wider adoption within the coming years. Based on Nimiq’s projections, the cryptocurrency payment service could potentially surpass Bitcoin’s acceptance points within three years.
