BOSTON--(BUSINESS WIRE)--Squarelink, a blockchain account platform, today launched its new product Event Pass, a tool for event organizers to easily bootstrap a crypto-based point-of-sale economy. With Squarelink Event Pass, event organizers can quickly onboard people to explore blockchain and crypto in the most pain-free way possible.
The launch of Event Pass follows a successful pilot run last month at ETHBoston, an Ethereum hackathon that took place at Northwest Labs on Harvard University’s campus. There, Squarelink deployed Lobstacoin, an event-native cryptocurrency, in creating a blockchain-based point-of-sale economy for the hackathon. At ETHBoston, nearly 400 new Squarelink accounts were created and Squarelink Event Pass was used for over 1,500 food truck transactions. In addition, Squarelink was the second most integrated product, ahead of Coinbase, Taxa, and others.
The launch of Event Pass occurs as Squarelink enters a phase of rapid partnership and platform development in a bid for mainstream appeal. In the past month, the company announced successful integrations with Deversifi (formerly Ethfinex), an Ethereum-based trading platform; Totle, a token swap and transfer service provider for decentralized exchanges; and PoolTogether, a lottery where users can win thousands of dollars in DAI without risking anything.
Squarelink’s growing commercial collaborations reflect the ease of use and security of Squarelink’s blockchain account platform, powered by its patented cryptography enabling users to securely recover lost private keys, which are not held custodially by Squarelink.
The usability of digital wallets and decentralized applications (or DApps) is known to be a critical bottleneck for blockchain technologies. According to the Dapp.com Q2 2019 DApp Market Report, “Over 700,000 new users started using DApps (at least once) in Q2 – the highest ever in one quarter.” Despite this, in a recent Fluence Labs survey, DApp developers identified onboarding and educating new users as a lingering pain point.
“People are experimenting with DApps, but the retention rates are disappointing,” said Nick Slavin, co-founder and CEO of Squarelink. “Each month, Ethereum DApps lose almost 80 percent of new users. The user experience is bad. Improving usability without compromising security is what our proprietary technology enables.”
Squarelink provides a one-stop, device-agnostic interface for accessing all of the resources needed on multiple blockchains, while offering intuitive and secure account recovery and simplified end-to-end onboarding.
Now, with Event Pass, Squarelink is also helping retail organizations tap into crypto payments with easy-to-deploy POS tools. In moments, event organizers, vendors and small businesses can deploy a fully immersive, crypto-driven experience. Squarelink allows organizers to create and circulate cryptocurrency with customizable features, stable value and immediate liquidity, enabling more people to explore blockchain and crypto through unique and streamlined experiences.
“Event Pass is great for pop-up economies,” said Alex Patin, co-founder and CTO of Squarelink. “Conferences, music festivals, trade shows, and pop-up shops create transient yet fully immersive experiences for attendees. Event Pass allows organizers to take an event experience to the next level with its own economy. Creating a novel currency is a fun and playful way for companies to engage with customers, but there’s a lot that goes into it — creating a means to securely generate and distribute wallets to attendees, funding those wallets, fiat off-ramping for merchants, getting merchants set up to accept crypto payments, creating and deploying a new currency, and attendee check-in, for example. With Squarelink Event Pass, we can do all of this quickly and seamlessly with little-to-no burden on the organizer.”
Squarelink is a one-stop blockchain account providing frictionless and secure access to DApps on multiple blockchains. Squarelink’s easy to use interface, beginning with a single username and password, improves user experience without compromising security. Our account platform is powered by patented cryptography enabling users to securely recover lost private keys, which are not held custodially by us. Squarelink was founded by a team of Harvard alums, fellows, and faculty with a vision to develop technologies that enable the mainstream accessibility of blockchain.
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