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RE: STEEM PAYMENT SOLUTIONS 🔜💵♨️🎉
I like your ideas and how you've presented them in this post. It's really unbelievable that we still don't have such a payment solution for Steem, because it would not be that hard to create actually...
From a technical point of view some requirements come to my mind:
- Simple (native) android/ios app for storing the own account credentials (active key, encrypted), scanning QR codes and broadcasting the transfer with the required amount (+ invoice id in memo field) to the shop's account.
- For payments via web browser a simple script that uses Keychain and/or SteemLogin for the transfer (entering the active key on a shop's site should not be allowed for security reasons).
- For the shop's site a simple script that creates the invoice with QR code / payment details and waits for the incoming transfer (for example, by watching the Steem account history). For handling the valid/invalid payments on the server side, there will be a few more things required that need further plannings.
Thank you for your thoughts and this beautiful descriptive comment.😊 It made me happy to hear that this is possible technically.
My niche idea is to create payment widgets under SteemPay for popular e-commerce scripts.
The complete payment solution (SteemPay) idea belongs to @flysky and @dobartim. They have created Steem Pay Community to manage the development of the project. Thank you for your support 🙏
Technically it is very easy to make for a programmer, but the project I have in my head after 20 years of such projects is completely different from the simple one. How to attract companies, how to activate users, etc., that is the essence and it is best to do it together, this is not just a programming job, it is more of a business model.
I make a lot of posts about that.
That is one of the visions I want to do these four years.
https://steemit.com/hive-152587/@dobartim/steem-schools-report-and-steem-vision-for-2021-7-contest-and-more-than-4500-users-496-active
Yup. This sounds great. However, I've got a couple of concerns related to this.
1- Getting merchants on board: This would require a lot of marketing and should be solvable.
2- The liquidity shortage: When we have a Steem Pay app it would definitely be a highly used feature. To support this demand we would need sufficient liquidity as well. Wouldn't that be a problem? Regarding the conversion to fiat, we need to first convert to another crypto-like Bitcoin or USDT and if the demand for this is high, wouldn't that adversely affect the price of Steem?
Regarding your second point:
I would not go the fiat route and just convert the required $ amount to STEEM based on current market prices. The moment an invoice is created the required STEEM amount will be calculated and stored. So the shop owner would need a Steem account and manage the fiat gateway himself (automating this would be another project), but it would enable zero-fee payments and circumvent any fiat regulations.
Sounds great!
#affable #test
It would be great if you are able to take this idea forward @steemchiller...
With a payment processor, Steem would undoubtedly be taking a great leap ahead of other currencies, something very important is that the community supports this initiative. and according to @steemchiller these would be something simple to do.
Something we could do is promote the Application when it is already running.