Faq

BlockCommerce Tokens are the erc-20 token that assigns license to use and hold BCLX. On each transaction that occurs in the BlockCommerce environment, all fees generated are pushed through the BCLX Builder to wallets of BlockCommerce token holders.

While most cryptocurrencies have a few major issues, the BCLX currency addresses these issues and aims to become the first cryptocurrency aimed specifically for mass adoption and commercial use. Zero fees, instant remittance, and ability to secure purchases, combined with refunds, delivery tracking and arbitration capabilities make this possible.

The important function of BlockCommerce tokens is to regulate the distribution of BCLX. As we have seen in the world of fiat currencies, when left in the hands of fallible humans, currencies tend to see dramatic issues. These range from runaway inflation to a lack of credit in the markets. Currency distribution issues have stifled innovation throughout history in many societies.

Due to being an ERC-20 token, Bcom can be easily acquired, verified via the smart contract, and traded on ERC-20 enabled cryptocurrency exchanges. Bcom tokens can be stored in any compatible wallet, such as MEW, Ledger, and BlockCommerce’s own wallet.

During the ICO 300,000,000 BlockCommerce tokens will be made available for sale which represents 50% of the total tokens minted.

BCLX provides commerce focused transactions that are:

  • Cheaper (BCLX has no transaction fees)
  • Faster (BCLX transactions are near-instant with no lag time)
  • More secure (BCLX transactions are decentralized, encrypted

Secondly it combines this borderless, fee less currency with the infrastructure that allows for existing and new ecommerce sellers to create profitable ecommerce businesses easily and quickly.

Mass adoption of cryptocurrencies is likely to take a long time, if ever, unless the masses are clearly incentivized to do so. To this end, BlockCommerce is developing The Fiat Bridge - which allows consumers to pay with any local currency and allows seamless (and virtually feeless!) conversion within the Bridge.
But it gets better - BlockCommerce incentivizes consumers and sellers who use BCLX (and eventually other supported currencies).
Of course, using BCLX provides the highest savings as there are no fees associated with it and transactions are instant. By consistently nudging buyers and sellers towards crypto-payments and simultaneously supporting fiat currencies like USD, BlockCommerce can greatly accelerate mass adoption of blockchain payments by the masses.

BlockCommerce Tokens holders benefit in 3 different ways:

  1. BlockCommerce Tokens holders earn BCLX with every transaction that occurs within the Blockcommerce platform via the BlockBuilder. The earned BCLX can be used to purchase goods from various stores powered by BlockCommerce or converted to fiat currencies for withdrawal.
  2. BlockCommerce Tokens holders receive lower costs as a seller on a platform or when purchasing any platform modules such as ecommerce education. Additionally, sellers that hold BlockCommerce tokens qualify to be placed in ‘Recommended Stores’ rotation that receive exposure to thousands of additional buyers every day!
  3. BlockCommerce tokens may be traded at any supported cryptocurrency exchanges allowing token holders to potentially secure profits by selling at a price higher than the purchase price.

Total Supply: 600million
Circulating Supply Available for Sale: 300Million
Token Price: $0.40 USD/BlockCommerce Tokens
20% (120Million) Reserved for Founders & Developers
10% (60Million) Reserved For Partners & Vendors
10% (60Million) Reserved for Bounty & Promotions Program
10% (60Million) Reserved for Investor & Media Relations Team

The main function of BlockCommerce tokens is to regulate the distribution of BCLX. As we have seen in the world of fiat currencies, when left in the hands of  fallible humans, currencies tend to see dramatic issues. These range from runaway inflation to a lack of credit in the markets. Currency distribution issues have stifled many societies from innovation throughout history in many societies.
To combat this, the production and distribution of BCLX are tied to the BlockCommerce token and the economic transactional activities within BlockCommerce. More BCLX is only printed and released when transactions occur within the platform. This activity is entirely governed by smart contracts and therefore cannot be artificially manipulated through human interaction.

All funds during the ITO are held in an escrow or ETH contract until the soft cap is reached. In the ihghly unlikely event that the soft cap is not reached by the end of the ITO, all investor funds will be returned.

BlockCommerce tokens are available to all participants not directly prohibited by international law. This includes locations such as North Korea, Iran, Sudan and a few others.