Wednesday, September 22, 2021
Finance

Billionaire Calvin Ayre Invests in Social Media Marketplace for Students

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According to Canada-based social media and technology firm Mijem, Inc., it has secured investment from billionaire philanthropist and known technology entrepreneur Calvin Ayre, who is also the founder of global financial group Ayre Group Ventures and blockchain conglomerate CoinGeek. Mijem is known for its online social marketplace of the same name that aims to help students in the United States and Canada save money and earn extra cash by selling, buying, and trading goods and services. 

“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,” Ayre said.

The investment from Ayre Group Ventures will be used to back Mijem’s ambitious growth plan that includes developing a cashback loyalty system using Bitcoin SV (BSV) as digital currency. The loyalty platform will also take advantage of the Bitcoin SV blockchain’s ability to complete safe instant transactions. At the moment, Mijem is already connected with student communities in 70 different colleges and universities across the U.S. and Canada. These include huge campuses such as the University of Texas, the University of Toronto, the University of British Columbia, the University of Michigan and the University of Miami. 

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“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 stated.

In February of last year, the Genesis Upgrade was released, which restored the original Bitcoin protocol as close as possible to the design envisioned by creator Satoshi Nakamoto. SV stands for Satoshi Vision; and the ultimate goal of this vision is for the global adoption of Bitcoin, not only as a digital currency but as a blockchain upon which an infinite number of applications, platforms, and software can be built. Bitcoin SV boasts of a set-in-stone protocol that makes for a rock-solid foundation—just like how the online world was built on the Internet protocol that has barely changed over the years—and a massively scalable network that accommodates big data and microtransactions.

As Mijem grows, it will no doubt generate massive amounts of data; and the Bitcoin SV blockchain is more than capable of handling it. In fact, the Bitcoin SV ecosystem is not new to social media on the blockchain. Twetch, an application that promotes data ownership, responsible social media use, and monetization of original content, was built on the Bitcoin SV blockchain and launched last year. As an added bonus, Mijem can learn from Twitch and other businesses in developing its own social media on blockchain because Bitcoin SV is also committed to proper blockchain and Bitcoin education.

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