In 2017 with so much excitement as Beluga Pay we worked alongside SMB businesses looking to transform their brick and mortar stores in Latin America and tried blending traditional credit card processing and crypto currency businesses with the hypothesis it could accelerate their business.Discover more
In 2019 we learned that: 1) Our hypotheses was not correct 2) We onboarded high risk merchants who later created costly chargebacks 3) We have tons of room for improvement for proper community communication.
As a result of these lessons learned our Beluga Pay product failed to get traction and we believe we were a little early for small merchant transaction to happen on Ethereum. We see other examples of Bitcoin Beach in El Salvador doing a great job to establish grass root efforts for crypto accepting merchants in Latin America. We salute those efforts and read some of the other challenges on Bitcoin Beach!
We also learned that we need to over communicate these shortcomings and are planning to do Monthly Recap's with our Developer Team to keep you updated on our regular progress.
After seeing the local challenges we had deploying point of sales with cryptocurrency we asked ourselves what is a global online massive industry that needs payments?
Around the same time we saw the introduction of Web 3 gaming and thought this could be a great opportunity to deploy our know how and skills in the payment space.
We started researching solutions for Unity and developing solutions using WebGL.