The UK based firm, SatoshiPay has entered into a partnership with digital publishing house Axel Springer SE to enable users to pay for content with the digital SatoshiPay wallet, according to a blog post on their website. The wallet will be used to send direct payments from the user’s device to the publisher without the need for an intermediary. SatoshiPay uses the Stellar blockchain and the Stellar Development Foundation provided a seven-figure grant to support the collaboration.
Axel Springer SE is the largest digital publishing house in Europe, owning titles such as Bild, Die Weld and Fakt. Headquartered in Berlin, the company is active in more than 40 countries with subsidiaries, joint ventures, and licensing.
Axel Springer CEO Dr Valentin Schöndienst On Blockchain’s Benefits
Axel Springer SE Senior Vice President, Dr. Valentin Schöndienst, said: “Blockchain payments can significantly reduce transaction costs and thus enable new monetization systems for content. SatoshiPay offers a turnkey solution that allows us to instantly use blockchain technology and offer it to our customers”.
After establishing themselves in 2014, SatoshiPay, phased out its use of the Bitcoin blockchain as the underlying technology that enabled its transactions in 2017. Later that same year, they collaborated with Stellar Development Foundation and fully integrated with the Stellar network in December 2017. They completed the Axel Springer Plug and Play startup programme in 2015.
SatoshiPay founder and CEO Meinhard Benn said: “We are excited to work with Axel Springer, who recognize the immense potential of blockchain technology. As one of the few companies with a market-ready blockchain payment solution, we are focussed on bringing this technology from laboratories and into the mainstream. This has been SatoshiPay’s mission since its foundation in 2014, and a partner with the tremendous reach of Axel Springer gives us the opportunity to deliver on this promise”.
Axel Springer have a dedicated page on their website highlighting their principles and values, headed by the statement: “Media companies have societal responsibility in a democracy, because they shape the way their readers, listeners, viewers, and users form their opinions. This is why Axel Springer is the only independent publishing house to have had a corporate constitution through the Essentials since 1967, to ensure it takes account of this responsibility in a transparent manner”.
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