Whenever an existing platform starts accepting Bitcoin payments, there is always cause for joy among the digital currency community. Not just because this may indicate that these services will gain additional customers who can finally pay in Bitcoin, but also because they help spread the name of this digital currency. The latest service to accept Bitcoin payments is none other than AdBlock, one of the most widely used browser plug-ins in the world.
AdBlock’s Honor Program
Most of the people who have the AdBlock plugin installed in their browser will have noticed there are two different versions available. However, both the free and the Pro version are completely free of charge, which is quite uncommon for a “pro” version of a plugin. Oddly enough, both of these add-ons are not related to one another, as they are created by different developers. So how are the AdBlock developers making money?
Here’s how; there is an initiative called the “AdBlock Honor Program,” which lets users donate an amount of their choice to the developers, rather than using a fixed price for, what is, a great and useful plugin. Giving users the choice of donating x amount of USD is an interesting revenue model as a developer.
By making AdBlock “honor-ware”, the developers are, in fact, relying on the goodwill of their users to help them earn a living from creating and maintaining this plugin. It goes without saying that this may seem like a risky business model at first glance, but it has turned out pretty positive overall so far.
On top of that, there is a 60-day “refund” period, during which you can claim back your initial donation if you are not satisfied with the AdBlock plugin itself. Once again, the developers are putting a lot of faith in the people using this “honor-ware” program to make a donation, as there is no way for them to refuse your refund.
Speaking of payment options, AdBlock’s “honor-ware” program offers three different payment methods; traditional credit cards accepted through a separate merchant account, Paypal who’s refund process is very easy, or Bitcoin. And it is the latter addition there which holds the most valuable interest to the digital currency community.
Bitcoin Payments by Stripe.com
The choice to start accepting Bitcoin payments seems only natural, considering there are no additional set up costs involved in the process. All it takes is a few lines of code, and anyone in the world can start accepting payments in Bitcoin within minutes. What is remarkable in the case of AdBlock, however, is the fact they have chosen Stripe to be their Bitcoin payment processor, rather than BitPay or Coinbase.
However, that choice does seem to make a lot of sense when you take into account that the AdBlock Honor Program also uses Stripe to process all credit card payments on the website. Now that Stripe is offering both Bitcoin and credit card payment processing through the same platform, it only makes sense to stick with the existing service you are already using.
It will be interesting to see whether or not more and more people will make a contribution to the AdBlock developers now that Bitcoin is a supported payment method. Considering the fact that anyone can choose as much or as little as they want to pay, the decision to enable digital currency payments seems to be the right one at this time.
Images courtesy of AdBlock and Shutterstock.