You are viewing a single comment's thread from:
RE: Making It Work: The Steem Ecosystem. "THINKING OUT OF THE BOX"! (Part Two)
Hmmm we mice are a little unclear as to why merchants would want Steem Loyalty Points. We get why they might want QANTAS or Velocity points - at least they can upgrade to business class with those. But why Steem Loyalty Points?
Sniff and Scurry.
Because they would be able to use them to get discounts at other merchants who accept them or convert them to a $1.00 worth of Steem (tokens) at any given time.
Unlike other "points" on the market, these could be used as was the vision with SBD.
PS.
Just to add to that, some merchants may restrict it to the purchase of their in store gift gift cards.
Again, up to the merchants what they will accept them for.
& they could easily have a contract with lets say Bittrex or Binanance etc etc, to convert their Steem to fiat immediately (if that is what they want).
so you're saying kinda like - a merchant could use it as a "discount code" or something at the time of checkout... pay X amount with your steem points and the remaining balance with whatever else?
and you're saying that the points would be transferrable (once the merchant had them) into, what? Steem? $1 worth of Steem? Is that how they would cash out the points?
Yes.
Exactly that.
Or the other option is for the merchant to use them at another merchants place of sale and save a few bucks!
Best part about it, when an owner of points wishes to exchange them for Steem tokens, they can do so via the internal exchange and the points get burned, hence the internal debt ratio is lowered!
Works out EXACTLY as was imagined by the people who created Steem!