Business

Consumer Electronics Show: Looking to make Bitcoin mainstream

ChangeTip building micro-payments infrastructure, gaining spotlight

Afp January 11, 2015

quot we like the idea of showing appreciation and how do you do that in an increasingly cashless society quot victoria van eyk vice president of community at the san francisco based startup photo reuters

"We like the idea of showing appreciation. And, how do you do that in an increasingly cashless society?" Victoria Van Eyk, vice president of community at the San Francisco based startup. PHOTO: REUTERS

LAS VEGAS: Amid the roiling sea of gadgetry at the Consumer Electronics Show (CES), was a contingent of Bitcoin startups intent on bringing the controversial digital currency mainstream.

ChangeTip was among a dozen or so Bitcoin companies out to grab a bit of the spotlight at CES.

The Company is luring people into opening Bitcoin wallets by sidestepping talk of complex aspects of the digital currency such as private keys and block chains, and simply letting people show appreciation for posts at Twitter, Facebook, and YouTube by virtually tossing them a gratuity.

“We like the idea of showing appreciation. And, how do you do that in an increasingly cashless society?” said Victoria Van Eyk, vice president of community at the San Francisco based startup.

ChangeTip software ‘bots’ listen for mention of the service, an amount and a sender’s Twitter handle in messages at popular media services such as Twitter, Facebook, YouTube, Google+, and Reddit.

Then, it automatically follows through on expressed interest to send someone a gratuity with a link in a direct message at Twitter. The Links take people to ChangeTip website where the tip is deposited in the form of Bitcoin in a “wallet” after people register for accounts.

The startup is building a micro-payments infrastructure and has attracted 54,000 users since the launch.

Microsoft in December began letting US shoppers at its online Windows Store pay with Bitcoin.

The digital currency, traded in at market value through a partnership with payment processor BitPay, could be used to add money to Microsoft accounts that provide funds for buying games, music, video or applications for Xbox consoles or computers powered by the US technology titan’s Windows operating systems.

Published in The Express Tribune, January 11^th, 2015.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.