Making crypto succeed in the real world? - page 14.

JoshuaBlack1

jr. member

Activity: 97

Merit: 2

Quote from: Vindberg on May 03, 2018, 04:36:04 AM

Hi, I would love to hear your input on this.

As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.

At least three things needs to happen:

1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.

Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?

Best crypto greetings,
Vindberg
https://validators.com

https://www.coindesk.com/lightning-nfc-new-plan-bring-bitcoin-retail/

I think this article touches on wider adoption and some potential methods we could use to get there. I think a standardised protocol would have to be introduced in order to reach the mainstream adoption we all want to see. I have no doubt these things will be developed. It's easy to get caught up in the bubble within cryptocurrency but we are still extremely early and allot of the infrastructure still hasn't been developed

Panpan66L

member

Activity: 199

Merit: 10

I am trying right now to aggregate as many coins of alternative currencies as I can now to have a great benefit in future

ArteMixer

newbie

Activity: 154

Merit: 0

Yeah, i agree it is still very rusty and needs many improvements to the system to be properly functional. But there are already numerous services providing payments with bitcoin and etherium, so we have some first steps in the right direction.

pat4cryptoreal

full member

Activity: 630

Merit: 102

Making cryptocurrency widely acceptable by merchant is possible, The responsibility is on the developer of blockchain, cryptocurrency fans, cryptocurrency investors and government. The merchants are scared because of some drastic fluctuation in price which may affect their income. Most time cryptocurrency fans will spread FUD that cause fluctuation, The developers have to make the transaction to go through within some seconds. Government should stop the banning and regulation issues. The sky will not even be the limit of the rate of acceptance of cryptocurrency by merchants.

Vindberg

newbie

Activity: 4

Merit: 0

Quote from: Ctn on May 03, 2018, 05:32:55 AM

If that would have been easy then it could have been already being followed everywhere. But its not! Merchants fear because they have to track the sales, earnings, pay taxes and much more. There is no provision for this purpose yet and thats why they might not just accept it so easily. For customers it gets difficult to wait in the coffee shop until they get sufficient confirmation of the bitcoin process. So there are not single but many problems in using this currency. Until the time we dont see huge set up for this then we cant see any progress as whole really.

I looks like the lightning network could make the transaction fast as any VISA payment and function offline with later synchronization. Its true that merchants lack integration with the old systems - Not seeing anyone doing this besides maybe https://utrust.com/.

V.

Falmera

jr. member

Activity: 280

Merit: 2

Quote from: Ctn on May 03, 2018, 05:32:55 AM

If that would have been easy then it could have been already being followed everywhere. But its not! Merchants fear because they have to track the sales, earnings, pay taxes and much more. There is no provision for this purpose yet and thats why they might not just accept it so easily. For customers it gets difficult to wait in the coffee shop until they get sufficient confirmation of the bitcoin process. So there are not single but many problems in using this currency. Until the time we dont see huge set up for this then we cant see any progress as whole really.

You are absolutely correct! It is hassle free if we just need our cellphone, the internet connection but as to the proces it might take time. There are just things in this world that crypto currency will not make it easier, just like what you said, purchasing a coffee, or anything that can be quickly done with our fiat money. Most especially when there is a problem with the internet connection.

no0dlepunk

sr. member

Activity: 490

Merit: 258

Quote from: Vindberg on May 03, 2018, 04:36:04 AM

Hi, I would love to hear your input on this.

As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.

At least three things needs to happen:

1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.

Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?

Best crypto greetings,
Vindberg
https://validators.com

Similar to this happens in coins.ph; I store my bitcoins in this app, and then it gives me lists of merchants that accept payment from them in Philippine Peso. Once I have decided which item to purchase, coins.ph converts my bitcoin into local currency and then sends payment to the merchant. It made it simple rather than cashing out.

Indrawan77

hero member

Activity: 1274

Merit: 516

I think we are not arriving at that stage yet, at this time we still struggle with the government regulation and how to make bitcoin to be mass adopted so the price fluctuations could be controlled, how to create a fast and cheap transaction, many stores complained that the btc price is too fluctuate and they can't predicted their profit and if the price fluctuate too much its very inconvenient for them to accept crypto, when this thing could be settled then we will enter the infrastructure stage which is the wifi and the wallet setting

Ctn

sr. member

Activity: 644

Merit: 259

If that would have been easy then it could have been already being followed everywhere. But its not! Merchants fear because they have to track the sales, earnings, pay taxes and much more. There is no provision for this purpose yet and thats why they might not just accept it so easily. For customers it gets difficult to wait in the coffee shop until they get sufficient confirmation of the bitcoin process. So there are not single but many problems in using this currency. Until the time we dont see huge set up for this then we cant see any progress as whole really.

Vindberg

newbie

Activity: 4

Merit: 0

Hi, I would love to hear your input on this.

As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.

At least three things needs to happen:

1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.

Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?

Best crypto greetings,
Vindberg
https://validators.com

Topic: Making crypto succeed in the real world? - page 14. (Read 1198 times)