This message is for the TenX team.
Considering buying some PAY token as soon as they are available.
If world economic forum is predicting that 10% of global GDP ($7.8 trillion in today's money) will be on blockchain within 10 years and, if TenX and COMIT are the fabric connecting blockchains and providing payments, then I think it's important to carefully answer these questions as openly and clearly as possible, so that every single person can decide whether PAY is a good opportunity before them.
10 questions.
1. Do you need a TenX card in order to use the Andriod/iOS app for making payments where Visa/Mastercard is accepted? Can the app be used on its own for such purchases?
2. If card is needed, then does the card details get "sucked" into the andriod app and you don't need to bother brining you card to the shop? Or do you need them both?
3. COMIT charges no commissions, how can this be? If it works like you say it does, then it seems a tiny fee like this could be a big profit maker for decentralized trades between cryptocurrencies. Is there a future plan for COMIT to take small profit 0.04%?
4. Are there any other planned future revenue streams for PAY token holders?
5. What happens if/when cryptoC is ubiquitously adopted and no more Visa/Mastercard? People the world over start paying and receiving payment directly in cryptocurrency. Do PAY tokens receive any incentive to be held or do they become worthless at this point?
6. Can TenX wallet be used anonymously? Or does it always require centralized registration?
7. Does the TenX wallet actually hold the private keys or are they stored on your servers?
8. When making a Visa/Mastercard transaction does the TenX wallet interact with the payment terminal using NFC and send TenX card details propagating back trough the payment terminal network, eventually reaching COMIT and then over the internet to the mobile device and finally to the TenX wallet? If so, that seems to imply that you need to have a working internet connection on your mobile device in order to pay with TenX, which is fine. Just want to understand in simple terms how it works.
9. Will TenX be making partnerships, deals and acquisitions with/of other payment processors and competitors? If so, would PAY holders, either directly or indirectly, benefit from such strategic deals?
10. Are other payment systems able to leverage COMIT? If so, what benefit would TenX PAY holder have? If this is the case, what would serve to protect PAY holder investment from being undercut by other competitors riding on top of COMIT?
OK, so it was slightly more than 10 questions because I snuck in subquestions.
My decision whether to buy PAY as soon as it's on exchanges will be largely impacted on your answers.
Thanks.
Anyone from TenX team ever going to answer this?
Great questions, I would be interested in those answers too. Have you tried a different channel?
I think question 6 was answered by the team, because of regulations anonymity is not possible. You are using the conventional financial network at one point, so KYC is needed. Maybe in the future full crypto payments are possible everywhere, but I am convinced not before mass adoption of cryptos in general.
