The use of digital currencies, whether for trading or as tokens for an electronic payment system, has increasingly become popular. The coronavirus pandemic has only made its popularity skyrocket, with everyone going online to look for ways to earn extra cash. Students are no exception; and with Generation Z being more tech-savvy than others, it is not a wonder that student-targeted social marketplace Mijem has been a big hit. The Canada-based social media and technology firm has already developed good relations with 70 universities, including prestigious ones such as the University of Texas, the University of Toronto, the University of British Columbia, the University of Michigan and the University of Miami.
Mijem is a platform for students to buy, sell and trade goods, both used and brand new, and services. It is aimed at providing the youth with an avenue to earn and save money while continuing their education. And with Mijem’s increasing market comes an ambitious plan for growth, which will be moving forward with investment from global financial group Ayre Group Ventures that will also be used for a cashback loyalty program built the Bitcoin SV blockchain with Bitcoin SV (BSV) as the token of reward. Ayre Group Ventures is committed to funding “ground-breaking businesses and technologies,” and investing in social media on blockchain is right up their alley.
“Mijem continues to demonstrate the value of the innovative social marketplace model they have pioneered across a growing network of university and college campuses in North America. At Ayre Group Ventures, we share many of the values which have made Mijem successful—speed, efficiency, accessibility—and see a great opportunity to work with their team to further develop the Mijem offering with Bitcoin SV and play a part in their ongoing success story,” technology entrepreneur Calvin Ayre said. The billionaire philanthropist is also the founder of Ayre Group Ventures and blockchain conglomerate CoinGeek.
“Mijem evaluated several digital currencies that would be of value to our customers and Bitcoin SV clearly is a great fit for Mijem. Bitcoin SV is what the original Bitcoin white paper envisioned, a fast, inexpensive, peer-to-peer electronic cash system—and all these characteristics are important for Mijem’s Gen Z target market. Ayre Group Ventures shares our vision, having already invested in numerous firms building Bitcoin SV services and solutions that we may be able to leverage going forward. Ayre Group Ventures is an ideal partner for us,” Mijem founder Phuong Dinh added.
Bitcoin SV has restored the original Bitcoin protocol last year; and its set-in-stone protocol provides a rock-solid foundation for developers to build platforms and applications on. Because it is fully committed to blockchain development, Bitcoin SV continues to scale its blockchain to accommodate big data and microtransactions, with nanotransactions currently being developed and offered in the near future. Earlier this year, Bitcoin SV’s test network was able to hit a record-breaking 9,000 transactions per second (tps), with the mainnet currently averaging almost 5,000 tps at an average fee of 0.0075 USD per transaction.
These capabilities, on top of providing transparency, immutability and integrity of data, allow for more than 400 businesses from all over the world and across numerous industries to build their platforms and applications on the Bitcoin SV blockchain. Social media on blockchain is one of these projects, with Twetch already running an incentivized social media application. And now, Mijem has also recognized the real value of Bitcoin SV.