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Here we are with a new post from the Digitall project. We have seen what the main activity of this future project is; we have seen how the project wants to facilitate the interaction of its customers by offering a catalog. Just during this time when I am trying to create an acceptable catalog, I decided to talk about another fundamental point for a business: payments.
You got it right: Digitall wants to launch itself on the market within the crypto landscape, setting cryptocurrencies as the main accepted payment method.
I made this decision for several reasons:
First of all, to simplify the interaction within the cryptocurrencies ecosystem. Since Digitall is the idea of a project that is being born within the crypto and blockchain ecosystem, I think it can be much more practical to interact with others through this new payment system;
Second point, I want to continue to actively participate and try to promote the use of cryptocurrencies by looking with interest at a future mass adoption.
Third, utopian, maybe ... who knows ... one day the value of some tokens could go to the stars and I will have collected a nice nest egg.
IF IT SHINES IS NOT GOLD, IT IS ONLY ZIRCON TOUCHED BY THE SUN
There are advantages, which are all those that cryptocurrencies can offer: very high transaction speed, low transaction processing fee, ease of use, disintermediation, and how many others can come to your mind.
Unfortunately there are also disadvantages, which are represented by all those factors that prevent a mass adoption to date. It starts with technology issues, which for example does not always manage to guarantee low transaction costs as it would like due to the crowding of the blockchain; that needs a constant minimum update on the crypto projects that offer these solutions; which requires types of portfolios where it is essential to have a good degree of accuracy; then we come to sociocultural problems, to individual ideologies and prejudices; and much more.
But the fundamental disadvantage concerning the payment for the Digitall project is Volatility: cryptocurrencies are subject to a very high degree of volatility that makes their price rise or fall. Precisely for this reason, Digitall is not only a service provider, but also an investor: to better understand, a practical example.
Mark, who wants to build the logo for his bakery chain, turns to Digitall to make it happen. The cost of the service he requests is $200. He then decides which of the accepted cryptocurrencies he wants to use and his choice falls on Stellar. Mark carries out the transaction from his wallet and the collaboration is thus resolved.
Since mass adoption is still a long way off, Digitall does not own $200, but the equivalent - at that precise moment - of $200, in Stellar. If over time the price of Stellar will increase and settle in 5 years on a value five times higher than today, Digitall will have made a perfectly apt long-term investment, guaranteeing a 5 times higher purchasing power for the compensation received by Mark.
Conversely, if the value drops, we will have sold off our service at a very low price than the normality.
The only currently reliable way to overcome this advantage is the addition of Stablecoins in the payment method, whose mechanisms allow you to keep volatility under control and guarantee a more or less stable value compared to the fiat currency. But even here, unfortunately, the cost of obtaining it exists and how, even if we do not want to go into that specifically.
DIGITALL: PAYMENTS IN DETAIL
Digitall will offer 2 major payment classes:
Initially we will offer the possibility to choose between Native Cryptocurrencies and ERC20 Tokens.
Supported Native Cryptocurrencies:
Bitcoin Cash [BCH]
Bitcoin Cash Satoshi Vision [BSV]
Supported ERC20 Token:
Maker DAI [DAI]
USD Coin [USDC]
Basic Attention token [BAT]
Binance Coin [BNB]
Initially via Paypal, possibly a future addition of the Stripe services and others.
Any future addition will be adequately evaluated. There may be additional cryptocurrencies or tokens, or the removal of some of these supported before. We will see how the future goes.
Meanwhile, we are continuing to create our catalog. Once ready, we will proceed to the official launch of the Digitall Project. In the meantime I wish you a good day and I hope I haven't bored you too much.