RE: Question to the Steem Community. Would you like to spend your Steem on the High Street and with Merchants that have existing Fiat Payment Infrastructure already in place.
This is a rough draft for a post I am writing, but want to see where you are first with the initiative.
Recently @stephenkendal posted about a strategic partnership with a credit card company.
I am raising the topic again to ask questions.
Does anyone know of a credit card issuer open to using Steem to Fiat, Fiat to Steem transactions?
Does anyone already use a Steemit credit card?
I know the South Brisbane Airport went to a system where you could buy everything with Cryptocurrency using a single system which placed the needed machinery at each airport merchants business, and it accepted multiple currencies including Steem.
Anyone from Brisbane or anyone who travelled through South Brisbane Airport have any experience with the system.
Anyone know of any credit card services integrating ShapeShifter Application?
That company was an early pioneer in multi-Cryptocurrency wallet technology.
I will pay rewards in Steem for tips and information.
Title: Steemit Credit Card Initiative by @stephenkendal
This is a complicated project as there are so many pieces of the jigsaw to put together, including: International Legal Framework Agreements, Set-Up Costs, Expected Volume of Transactions and Fees, to name just a few.
In a growing Community with say over +100k daily active users and International Legal Framework Agreements in place it would simply be down to the cost to set up and the acceptable fees to use.
Sadly, I am not sure that there are enough Active Users currently in place and the International Legal Framework Agreements still need to be resolved.
We could launch a Pre-Paid Card in Europe ring fenced in a Single Market without the need for International Legal Framework Agreements but I am not sure that this would be enough to justify the costs.
The design of the Card and how it looks is not the problem, it is simply whether there is a business case to fund the launch of the Card without some serious weight from the Community behind it.
Over the past few years I have funded the Promotion of Steem out of my own pocket, but this Project is going to need deeper pockets and someone with more weighting in the Community.
I am more than happy to help promote anyone wishing to pursue something similar, but sadly I cannot fund it at this time.
Stephen