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Frederick Coleman: One of the Leading Bitcoin Payment Processors

Blockonomics is one of the leading Bitcoin payment processors. We believe in Bitcoin’s decentralization and empowering merchants to control their own sales, so we operate entirely direct to wallet, we don’t touch any of the Bitcoin. We operate a variety of options for merchants depending on how customizable they want their processor and on what platform they operate.

Tell us about yourself?

I joined Blockonomics in 2017 when the company was only about 2 years old. I’ve been working on and off with them since then. I studied International Relations in university and bring that to my job by focusing on Bitcoin as a political tool in helping people who are kept down by the system.

I’m currently the VP of Growth at Blockonomics, a position I’ve held since 2020. I look forward to seeing the company and Bitcoin grow stronger over the next few years.

If you could go back in time a year or two, what piece of advice would you give yourself?

Probably to not worry. Two years ago I was worried about Covid and whether I should go to Grad School and if I was waiting too long. But I have achieved much over the past years, and I realize as long as I’m happy I shouldn’t be worried about milestones and instead focus on what I’ve achieved.

What problem does your business solve?

A lot of small business want to accept Bitcoin on their store but either have to use centralized platforms with high fees or have ot have a lot of technological know how. We aim to bring decentralization in an easy format. We are completely direct to wallet, that means we don’t touch any of the Bitcoin transactions. But we offer a lot of easy ready out of the box plugins so that people without a lot of technical knowledge can easily set them up.

Bottom line, as I said in our mission statement, we aim to empower small entrepreneurs to take control of their sales, to have control over how they receive their income from customers.

What is the inspiration behind your business?

We saw many Bitcoin payment processors were becoming too big for their britches. They are becoming centralized power houses that are the very thing that Bitcoin is supposed fight against. We are inspired to try to spread the original meaning of Bitcoin, using it as a currency to allow transactions across the entire world so merchants can expand their client base but also not lose sight of Bitcoin’s original mission.

What is your magic sauce?

Direct to wallet that’s easy to install. Its that simple. That’s how we’ve grown to the number one Bitcoin payment plugin on WordPress. We don’t touch the Bitcoin, we live up to Bitcoin’s decentralization, but we make it easy to operate.

What is the plan for the next 5 years? What do you want to achieve?

We want to continue growing at a sustainable rate. We want to maintain our position as the number 1 Bitcoin payment WordPress plugin, and we want to keep customers happy. But we don’t want to become like the other giants of Bitcoin payments. We will stick to our roots.

What is the biggest challenge you’ve faced so far?

Our biggest change in course was our ICO a few years ago. We got drawn in to the frenzy and it didn’t really work. We quickly abandoned the project. That helped us entrench the idea that we should stick to our roots. We know what we are good at and we continue to improve that.

How do people get involved/buy into your vision?

Its easy, check out: https://www.blockonomics.co/merchants#/

If you want to talk to the team about your specific project you can book a demo here:

https://calendly.com/blockonomics-demo 

We’re always happy to figure out a way to get Bitcoin working for you!

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