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Topic: Hypothetical question for a developer (Read 157 times)
This would be a bad idea if they do so, a deliver/logistics company creating their own token for the sake of using their business is something that would just split their market share if they have one. Just think about them having a business only to have one kind of payment system just for their whole blockchain back logistic system to work, it would just make the customers look for elsewhere. If you are thinking about implementing blockchain technology for your delivery company I would suggest just do it within your system and not make it as a payment method as like what other companies are doing right now filing their own patent for their own version of blockchain just for their businesses.
Blockchain is not a solution to all problems, and creating a new token will not solve the problem and may increase its complexity.
- Central banks will try to use the blockchain to make easy and fast payments.
- Companies will not benefit from all these complexities. They can rely on third parties to conduct these transactions.
The only thing I can think of is that transcontinental companies like Uber create a private payment system.
You can get it as a reward or discount when they use their services or buy and they use those currencies to increase their income.
Generally speaking, it is a lot of complications for a company that aims to profit from promoting a specific service and not to get a free profit by focusing the profit from creating digital currencies.
- Central banks will try to use the blockchain to make easy and fast payments.
- Companies will not benefit from all these complexities. They can rely on third parties to conduct these transactions.
The only thing I can think of is that transcontinental companies like Uber create a private payment system.
You can get it as a reward or discount when they use their services or buy and they use those currencies to increase their income.
Generally speaking, it is a lot of complications for a company that aims to profit from promoting a specific service and not to get a free profit by focusing the profit from creating digital currencies.
Would it be possible for someone like royal mail or a large delivery company to develop and integrate blockchain into their logistics and payments system
Sure, but keep in mind that blockchain is, after all, only a database. And a pretty much restrictive one. If it's only one company using it, there are much more appropriate and easier implementations.
and then later be able to have perhaps their own tokens as a form of payment if they had their own blockchain that was a fork of say EOS or another network more suited to them.
Do you know those coffee machines where you have to buy tokens in order to be able to actually buy coffee? Did you enjoy that idea? I guess not. And I guess that your customers won't also like your tokens... unless they are not forced to use them (there's alternative still available) and they are more like incentivized to use your token (i.e. keep money locked in your system).
However, keep in mind that blockchain is not necessary for this setup.
Would it be possible for someone like royal mail or a large delivery company to develop and integrate blockchain into their logistics and payments system...
I would much rather they used it purely for logistics, and for payment used a more efficient payment system like fiat or a top cryptocurrency like Bitcoin. There are so many other use cases for the blockchain besides projects creating basic tokens and releasing then in exchange for valuable assets.If such a company wanted to offer a token, then I would suggest it is given as a reward for customers. After purchases they get a certain amount of tokens (sort of like vouchers) to shop with.
Yes it is perfectly possible for any service (or anyone really) to create their own token and then force people to make payments in that token only. Integrate blockchain and maybe even track the deliveries through that in the most inefficient way.
But it is also a pointless thing to do because that service would be forcing people to first have to convert their money (that is used everywhere) to a token (that is only used in THAT service) in order to be able to use their service. That alone means they lose revenue right away.
They are also forcing their users to be subjected to unnecessary complication and volatility because they can not control the price of that token.
So for example before the user had $10 and know he could pay for their service with this $10 and that was it. Now they have to first learn how to use this new thing called a token, download a wallet that can store and spend it, pay an exchange fee to convert that $10 to X tokens then be worried that today X token is worth $10 but 10 minutes from now it can be worth $5 and they can no longer pay for the same service!
But it is also a pointless thing to do because that service would be forcing people to first have to convert their money (that is used everywhere) to a token (that is only used in THAT service) in order to be able to use their service. That alone means they lose revenue right away.
They are also forcing their users to be subjected to unnecessary complication and volatility because they can not control the price of that token.
So for example before the user had $10 and know he could pay for their service with this $10 and that was it. Now they have to first learn how to use this new thing called a token, download a wallet that can store and spend it, pay an exchange fee to convert that $10 to X tokens then be worried that today X token is worth $10 but 10 minutes from now it can be worth $5 and they can no longer pay for the same service!
Would it be possible for someone like royal mail or a large delivery company to develop and integrate blockchain into their logistics and payments system and then later be able to have perhaps their own tokens as a form of payment if they had their own blockchain that was a fork of say EOS or another network more suited to them.
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