Answer me these questions:
First question:
I have a retail network, I conduct accounts department in accordance with the legislation of the Russian Federation and the tax code.
How I shall prove purchase of your INCENT in financial accounting? You not the legal entity. Cryptocurrencies aren't acknowledged in my country, as well as in the most part of the world.
I will receive a huge penalty and perhaps even I will be put in prison for fraud and money laundering if I spend money of the firm for INCENT purchase.
Second question:
How I can purchase at you INCENT for the loyalty programs if it is traded in the public market? So its price is unstable. Today I issued to the client 10 INCENT for purchase, and tomorrow he decided to spend them, it comes to my shop and here it turns out that last night the price fell three times. What shall I answer the client?
First question:
I have a retail network, I conduct accounts department in accordance with the legislation of the Russian Federation and the tax code.
How I shall prove purchase of your INCENT in financial accounting? You not the legal entity. Cryptocurrencies aren't acknowledged in my country, as well as in the most part of the world.
I will receive a huge penalty and perhaps even I will be put in prison for fraud and money laundering if I spend money of the firm for INCENT purchase.
Second question:
How I can purchase at you INCENT for the loyalty programs if it is traded in the public market? So its price is unstable. Today I issued to the client 10 INCENT for purchase, and tomorrow he decided to spend them, it comes to my shop and here it turns out that last night the price fell three times. What shall I answer the client?
To the first question, I would say: if you are a business that operates in a jurisdiction that is hostile to cryptocurrencies, do not deal with cryptocurrencies.
To the second: the customer is getting a reward, essentially for nothing. Incent is structured in such a way that its value should rise in the medium-term, which might actually make it an attractive investment to hold for customers as well as a means of payment. In the short term, they understand that this is the deal, that the value may fluctuate somewhat (and is displayed in their app in fiat terms, as well as Incent), but that they received it as a 'gift' and so any fluctuation comes at zero risk to themselves.
Probably not all will be satisfied with this. But, like present loyalty points, they can always opt not to accept them if they don't like the idea.
