on the crypto
Right now, the coronavirus pandemic makes it more difficult for companies to earn an income. A new app offers users a way to earn in cryptocurrency through the popular Zoom video conferencing software.
The new SmartSessions App
Called SmartSessions, the Ethereum-based cryptographic paywall developed by 2key New Economics allows companies and "solopreneurs" to take advantage of cryptographic payments when they offer services via Zoom.
The company said that this solution would help people get out of their normal work structures by providing, for example, yoga teachers, counselors or tutors, a way to offer video sessions and receive payments.
How it works and what are the cryptocurrencies currently involved
SmartSessions uses the Ethereum network and smart contracts, through 2key's existing SmartLink platform, to create a series of automated and self-managed functions. After setting up a session in the app, it generates a custom Zoom link and sends it to the target audience, automatically processing payments.
Session hosts can also view metrics for data such as ticket sales and invitation views. Tickets for Zoom sessions can currently be purchased with the native cryptocurrency of ethereum, ether (ETH).
2key said that the automatic swaps between ether and DAI, tether (USDT) and trueUSD (TUSD) will soon arrive via the Kyber crypto-liquidity network. Bitcoin (BTC) and other cryptocurrency options will be available for the next quarter.
- Investors who purchase tickets will be able to purchase ether using a credit card within the app, paying with a choice of 17 different legal currencies. Third parties will also be able to earn ETH rewards for sharing Zoom invitations, obtaining a percentage of the ticket sales they generate.
Currently, companies wishing to make payments for Zoom sessions will need to use PayPal or bank transfers, with the need to bill each participant separately.
2key said that the problematic "Zoom-bombing" - whereby unwanted parties join a call for interruption purposes - would probably be a problem since only the paying parties will have access to a session.
The right app at the right time
The app came at a time when Zoom's business has skyrocketed, with the current coronavirus pandemic forcing employees around the world to work from home. Only in the period from the second half of February to March 25, Zoom recorded an increase of users of 1300%.
According to the World Health Organization, the number of coronavirus cases worldwide has now risen to over 2,6 million. Curious to find out what it is? If you are ready to jump on board, please let us know in the comments below and also leave feedback.