Lynchpin Token seals partnership with e-commerce platform GoBuyBid.com
October 16, 2018
October 15th, Cambodia – The Lynchpin Token team recently came back from Cambodia, where we attended a business conference aimed at spreading the word on the real value of our Blockchain-based project – LYN token. What we aim to do is combat volatility associated with cryptocurrencies by developing a token that can be used as a safe medium of exchange without fearing the intrinsic value of LYN will be affected by speculation or volatility.
Following the successful completion of the conference, we’re proud to say that Singapore-based GoBuyBid Pte. Ltd is the 1st merchant to join the Lynchpin Token project. Founded by Nizam Nasir, who gained tremendous experience in the industry working as a Sales Manager for Unlimited Electronics Pte Ltd., GoBuyBid will focus on selling branded goods (e.g. Adidas, Gucci, Louis Vuitton, Nike) at discounted prices that go up to 80% off the original price.
The platform will be available to early-adopters of LYN token holders only in early January 2019. Following the successful trial period, Go Buy Bid will go live in the second quarter of 2019 when everyone can sign up for an account and purchase branded goods with Lyn tokens. The Go Buy Bid platform will be the first use case for the Lynchpin Token project.
According to GoBuyBid founder, Nizam Nasir, the luxury e-commerce market will sooner of later be disrupted by Blockchain technology. However, even if Chanel launches their own token, they won’t sell their products at discounted prices. By partnering with Lynchpin Token, Go Buy Bid is looking to bridge the gap between the luxury e-commerce market and the need of the people to own high-quality products.
By joining the Lynchpin Token project, Go Buy Bid will be among the first e-commerce platforms to accept payment for branded goods in cryptocurrency. Furthermore, the partnership aims to strengthen Lynchpin’s unique value proposition – that adoption creates real utility.
We believe the Lynchip token community needs real-life use cases to convince themselves that our project solves an existing problem in the e-commerce niche. Customers are used to using different payment methods to pay for goods on different websites. Whether we’re talking about Visa/Mastercard payments, or about PayPal, the process involves high fees that not many can afford due to cross-border transactions. On Go Buy Bid, the only acceptable payment method will be LYN token via its online platform, which will act as a payment gateway for those interested to purchase LYN tokens to get access to branded goods on Go Buy Bid.
Go Buy Bid will leverage the Lynchpin Token platform, which will act a payment gateway for LYN token
By merging a utility token where stability gets the best of volatility (LYN token) with a payment gateway backed by cryptocurrency (LynPay), performing transactions both offline and online will revolutionize the e-commerce markets as we know them on a global level.