I was thinking about all the shop owners out there that could benefit from accepting bitUSD. This includes businesses that do not like bitcoin and are skeptical of cryptocurrencies.
I was thinking we could have an app for these merchants, that has a really simple interface for invoicing and receiving bitUSD, as easy as checking Facebook or whatever. All they need is to feel safe that the transaction has gone through.
Now here is the twist, We connect this app to a website map, and their bitUSD balance is updated in real-time. Essentially advertising that they have bitUSD for exchange.
Then internet money enthusiast walks into the store, gives them cash for their bitUSD.
The store owner really just had to install and app and learn how to use it (with a friendly explanation from one of us in the Invictus street team)
The BitUsd will actually enter and exit their registers on autopilot. Because 1:1 transfer is attractive, their cash registers should clear of any bitUSD everyday. (It is also efficient, as presumably this shop owner was making a daily trip to the bank anyway).
If they exchange bitUSD 1:1 (which should be encourage or default for "non-crypto" store owners, people that just want to tap bitUSD market, but are not interested in what crypto can do for them).
This could effectively turn every cash register in the USA a gateway to BitX, and also makes all BTS spendable at any business that is doing this program.
The only weak point is that person A might not want to exchange 1:1 when he/she is actually buying something, because bitUSD should probably be worth a little more than USD.
Still person A will still get hungry etc, and still might find buying pizza at 1:1 is still easier/cheaper than some convoluted way of getting a few extra dollars out of a central exchange point, etc...
anyway... is this a good idea?
Topic: BitUSD thought experiment (Read 5390 times)
