You are viewing a single comment's thread from:
RE: STEEM PAYMENT SOLUTIONS 🔜💵♨️🎉
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