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 Messages 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.