GoSkate.com Partners with Ripple and Ethereum to Pay Instructors


 

The History of GoSkate.com

When GoSkate.com started back in 1996, it was basically an ice skating rink. The founder of GoSkate is a great fanatic of a skateboard, his motor, Eat. Breath. Sleep. Skateboard. In 1996, the ice rink was bought by a skate who gave it a big face lift. When GoSkate was acquired back in 2006 for about 500 dollars, the founder made it skateboarding spot arena.

In 2008, Rob decided it was time to place an ad online by providing skateboarding classes. What began as a side sales job in San Diego California attracted students all the way from Washington, Chicago, and San Francisco. This time, the students were seeking connections to instructors close to them.

As they say, the rest is history after the first class in GoSkate.com. Currently, GoSkate.com has over 500 instructors distributed across the United States and out of the USA as well. This is just to say, GoSkate.com is here to stay.

Ripple and Ethereum

What is cryptocurrency and what is the difference between it and blockchain?

The blockchain is the technology that enables cryptocurrency to exist.  A cryptocurrency is a means of exchange, just like money. It is digital and uses encryption technology that makes it possible to control and create monetary units and to transfer funds.

Blockchain and cryptocurrency are gaining ground and recognition worldwide as a form of payment. Some of the fastest growing cryptocurrencies are Ripple and Ethereum.

Ethereum is much newer and has gained a lot of acceptance. It is now second place after Bitcoin. It is more like a supercomputer with a bigger network for its decentralized developed apps which do not necessitate the need for a third party e.g Apple and Google.

The apps created on Ethereum are distributed in a public platform and miners get to earn their Ether to fuel the network. Joseph Lubin, one of the founders describes it as programmable money unlike the predecessor, Bitcoin

Ripple developed towards the end of 2017 has settled in the third place as at January 2018 after its major competitors, Bitcoin and Ethereum in first and second place. Though it appears as a bitcoin competitor, serves as a centralized transaction network used by banks for money transfers such as SWIFT transfers.

Ripple works by converting money sent into an XRP token and then back to the currency of choice by the receiver. As per the Ripple’s management, XRP offers a faster and reliable alternative to the token.

Why GoSkate.com Has Partnered up Ethereum and Ripple Pay Instructors

With changing payment methods, Goskate.com has partnered with Ethereum and Ripple to pay their instructors.  The following are the reasons we will pay our instructors using Ethereum and Ripple.

  • Nearly Instant Payment

The advantage of using cryptocurrency reduces the need to have third-party approval, reference to external facts. Cryptocurrency contracts can be designed and enforced in such a way that there is no need for third party approval, or be done at a future date.

  • Lower payment process cost

For any cryptocurrency exchange, there is no transaction fee. The miners compensation is usually through the network. Since there is no cryptocurrency transaction fee, the exchange of these currencies there is the likely use of third-party service providers such as Coinbase that create and keep up the currency coins. They act like PayPal and as such they are likely to charge a fee.

  • Automate Payments process

This will make sure that the payments will be easier faster and we can pay in one currency and withdrawn in another currency based on the location of the instructor. This will make sure that the payments will be hustle free and payment processes will be very fast.

  • Lower Administration Cost

Since there is fee is transacting in cryptocurrency is nil or negligible it means lower costs to you as the instructor.  Credit cards processing and back transfers are quite expensive hence the take on of cryptocurrency.

  • Online Safety

You details online are safe. No one can steal your information from merchants and they make sure the greatest privacy of your sensitive data.  You can even create a proxy ID so that no one knows about you.

  • Highly Secured Transactions

Due to the NSA cryptography, all your transactions are secure.  This makes it impossible to know for any other person other than the wallet owner when making payment. Hacking is the only way these transactions will be available to a third party.