How can ‘normal people‘ purchase something on the marketplace ? Where did they get their SFX from? The average internet-consumer will not sign up on Coindeal. It’s to complicated. So how can we get buyers ? And will products from the Safex Marketplace be shown on price comparison sites ?
There are a few ways to bring on new buyers.
Mainly from people selling goods that are exclusively sold for Safex Cash.
My answer here will be brief/undeveloped;
Although, there ought to be a “basket” of items people desire and someone wouldn’t buy “just enough” safex cash for a single use.
The main onboarding method will involve the acquisition of say several hundred $ worth, and for product in demand now and with the concept of future product that will be demanded. So why stock up every time you want to buy something, should have a reserve of “internet money” preferably safex over bitcoin.
Like this people will become accustomed to using safex cash frequently as part of the internet experience.
@dandabek a couple of points that are worth clarifying are:
- Why professional sellers would only sell desirable products on the marketplace for Safex Cash ?
- Safex Cash is not a stable coin. Although its emission curve is designed to improve distribution in the long term, in the short/middle term we should expect significant volatility as sfx tokens are traded based on speculation and performance of the marketplace.
Do you expect sellers will fix their prices in sfx or will sfx prices track $ prices?
Either way, why would customers acquire more Safex Cash than needed for a purchase and be exposed to future price volatility?
my answers my questions would be
- sellers would be encouraged to use the market place because of lower fees compared to other e-commerce platforms resulting in better margins for them and better prices for their Safex Cash buyers. Still I expect they sell the same products elsewhere too to achieve the volumes needed to stay in business.
- Safex Cash price volatility should be addressed by marketplace prices tracking $ prices, at least for the first few years, and having a “solid fiat onboarding soltuion”.
Until the market place is fully bootstrapped, fiat onboarding can be centralised, to maximise user experience, reduce friction.
I understand this can be a legal can of worms, but are you guys considering to offer a way to get Safex Cash with VISA or PayPal? I get this is against the values of crypto enthusiasts but it can make a difference in bootstrapping the marketplace in the first couple of years of its life.
Sellers will be able to reach more people on the earth than ever before. Payment is direct and so you can repurchase inventory sooner, and if that supply chain is available on the safex market you will be the fastest to restock and provide service to your customers further.
Technically there is no such thing as a totally stable currency, and with a price peg people can “stabilize” their demands to the currency they prefer.