JAHM Token Making Headway As An Actual Currency
Cryptocurrency is going to generate the greatest amount of wealth the world has ever seen. For this reason, we see cryptocurrency as a speculative class where people are waiting for the moon.
While this makes a lot of sense, the key is going to be getting people to actually use the tokens they acquire. This is going to be a true transition away from the fiat world. One of the things that I think is needed is the idea of marketplaces that cater to the specific currencies. For the moment, we are stuck with trying to get the present environment to accept cryptocurrency.
I came across this article which really shows how JAHM is making some headway in this area.
This article is a real eye-opener. I think it is something that most of us can identify with.
Today in Negril, Jamaica we had an amazing time, so great that I ran out of cash. We bought some local crafts, went to a couple seaside bars, ate some amazing food and even hit up the World's Famous Rick's Cafe, before going back to the hotel we stoped by @miyard's for a beer.
Oops, I hate when that happens.
Obviously, in many countries we pull out the old credit card and do not worry about it. That obviously is not a solution in many areas. Thus, people are left using ATMs which tend to charge outrageous fees.
Here is where JAHM enters the equation. Why not buy the beer with JAHM?
That is exactly what happened.
3 beer for 800 JAHM.
Is this akin to the 10,000 Bitcoin for 2 pizzas? JAHM holders can only hope.
Whatever the eventual outcome, it is always encouraging to see the evolution in this direction.
https://steemleo.com/steem/@crypticat/first-real-world-jahm-or-steem-based-token-transaction-ever
The JAHM project is a very interesting one. We are seeing one of the Steem based tokens starting to penetrate one of the leading countries in the Caribbean. There are a number of initiatives that are in play where people can use their JAHM tokens for commerce.
Now you can add buying beer in Jamaica to the list.
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That's pretty crazy, yeah I often think about the day I will be able to go to my old neighborhood in NYC and buy the local pizza with some Steem...not far fetched at all.
That might be something you regret...100 STEEM for a large pizza might end up costing you $10,000 a decade or so down the road.
It’s great to see something positive (real-use wise) from the advent of steem-engine and smart contracts / Scot bot tokens on the STEEM blockchain. This goes to show that, not only are tribes like Reggaesteem and JAHM making headway, but provides proof that other projects with a backing and use-case behind them can do it, too. 2020 should be a great year for this space
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I agree. 2020 is going to be a breakout year. We are seeing the proverbial green sprouts all over the place. This is only going to keep growing which is very exciting.
They accept 4 cryptos and one is Steem and another is JAHM? That's pretty epic. You wouldn't really expect to see Steem and SteemEngine token next to the top 2 like that.
No you wouldnt except for the fact the Jahm team is looking to make a huge statement on the island. They are looking to make it akin to the national currency.
We will see how it all pans out.
Honestly I wonder if we can assume this is a trend for the years ahead. Establishments start accepting a few of the top cryptos and then one or two personal niche coins. Should be interesting.
I have a feeling, as we see more digitization, a lot more businesses end up accepting whatever the native app is on that network (or their own).
As for the physical stuff, I wonder how swaps will figure into all of this. It might be a non relevant issue since wallets will swap to whatever is needed.
The first time seeing the news last year that #jahm is accepted in some part of Jamaica, I was very happy and thoughts maybe it's one of those futuristic project and vision just to pure investors in.
Seeing the plan actually comes to play is a monumental things and goes a long way to boost Steem and Cryptocurrency at large to the world.
I can't wait to have #jahm too as a source of exchange in my country.