Barrier To BCH Adoption - On-Ramping, Fiat, Payment Gateways and Borders

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Avatar for iammultiman
2 years ago

Just thinking of something.
To really drive adoption faster. We need an Over-the-counter (OTC) BCH supplier in each country. 

Why?
Because one of the bottlenecks to adoption is on-ramping and off-ramping. Through the banking system, this makes it rather expensive to on-ramp.

How?
If you need a small amount of bch and have to buy via existing payment gateways, the cost of transaction goes up. e.g. visa has about 3% to 5% in some parts of the world. Mobile money for instance is 1% flat. 

Solution?
A bulk supplier travels to wherever they can purchases BCH cheap OTC and return to their country. The cost of the trip is somehow alleviated by the volume or better still by donations (some kind of bch foundation grant). Otherwise the bulk supplier (whale) does this via some cheap remittance medium and is still subsidized.

Now with the country, they can have a bch society that has members also spread out across the country. These members can act as OTC distributors and vendors locally. Using direct bank deposit as the payment gateway to obtain the BCH.

This should drop down on-ramp cost significantly as it cuts out payment gateway fees for cross-country transfers.

Outcome?
Over time, the reduced cost to access and low barrier to access will translate to higher adoption.

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