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What is Boom
According to the world bank, 1 billion women and 700 million men have no bank account. They are referred to as the unbanked.
These people have never shopped online and neither have they ever been able to offer their goods and services for sale on the Internet.
Boom launched in July 2022 as an integrated e-Commerce marketplace and cryptocurrency wallet that will allow anyone to buy and sell online without a bank account.
Why
SAFETY:
All users on BOOM are KYC'd at sign up. This ensures compliance with EU regulations and eliminates spam, scam and online abuse.
SECURITY:
All communication and transactions on BOOM are secured with bank- grade features that harden all correspondence with strong cryptography.
GLOBAL:
BOOM breaks down geographic and economic barriers by enabling everybody to sell online without needing a website nor having to integrate payment processing. With BOOM, financial inclusion is guaranteed for all.
MIMICS THE REAL WORLD:
BOOM transforms each and every physical store into an e-commerce shop. This enables customers to shop online directly from their favourite physical stores and have access to in-store inventory of goods.
NO FEES:
All transactions incur zero fees and zero commissions. This means that merchants keep all 100% of their earnings.
ETHICS:
There are no ads on BOOM and as such, BOOM does not collect any data on its users nor track their behaviour.
FAQ
What is Boom?
Boom is a new social commerce eco-system that enables the unbanked, as well as those seeking a safe alternative to commerce, to buy, sell and pay for everything online, without a bank account. Boom consist of the Boom Marketplace where consumers discover products and services from merchants, the Boom Wallet for payments and Boom Messaging for communication.
I am a Merchant, why should I sell on Boom?
Boom provides merchants with access to 1.7 billion new consumers that have never shopped online because they do not have bank accounts. A popular misconception is that the unbanked are poor. This is false. In fact, majority of them are well to do. Imagine if only 1% of them spend €1,000 per year in your Boom stores, that translates into €17 billion in new revenue for you.
I am a consumer, why should I shop on Boom?
Booms enables consumers to shop online without needing a bank account or credit/debit cards. To shop on Boom, simply top up your Boom wallet with Multicoins, which can be purchased over-the-counter with cash at certified Multicoin resellers worldwide.
Why should Governments support Boom?
Boom collects value added tax (VAT) from all transactions and pays it to applicable tax authorities. This generates unprecedented revenue for Governments. Furthermore, by connecting those that were previously financially excluded, to the global digital economy, Boom improves the economic well - being of citizens.
What is the currency on Boom ?
The Multicoin, a cryptocurrency with the symbol, ‘MTCN’, is the medium - of - exchange for all transactions on Boom.As such, consumers will need to top up their Boom wallets with Multicoins to make purchases and merchants that receive Multicoins for payments, can instantly convert them into euros, their local currencies, and very soon, into Central Bank Digital Currencies(CBDC) too.
When and where will Boom be available ?
Boom launched in July 2022 in a select number of pilot countries with a select number of premium merchants.The Boom app is available on IOS and Android thereafter.
Boom Pay
Boom Pay
BOOM is the universe of the unbanked, i.e. the unbankedverse, and its medium-of-exchange is the Multicoin (MTCN) cryptocurrency. The Multicoin is an ERC-20 crypto-currency that can be purchased from resellers globally with cash, over-the-counter. BOOM comes with its own built-in secure wallet that simplifies the sending and receiving of Multicoins.
There are no fees of any kind on all transactions on BOOM.
Multicoin Network Security
The Multicoin is an ERC-20 token that resides within the Ethereum blockchain. Accordingly, it is secured by Ethereum's Proof-of-Stake (PoS) consensus mechanism.
