Ethereum Evangelist Network

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posted an update —

Define specific problem you're addressing

Bitcoin​ ​and​ ​Ethereum​ ​total​ ​usage​ ​as​ ​media​ ​of​ ​exchange​ ​is​ ​still​ ​tiny​ ​compared  to​ ​market​ ​cap.​ ​This​ ​project​ ​aims​ ​to​ ​spread​ ​the​ ​great​ ​news​ ​of​ ​cryptocurrencies  to​ ​street​ ​vendors​ ​and​ ​other​ ​micro-businesses​ ​through​ ​an​ ​evangelist​ ​network.  There​ ​are​ ​two​ ​main​ ​problems​ ​why​ ​small​ ​vendors​ ​like​ ​restaurants​ ​are​ ​still​ ​not  accepting​ ​cryptocurrencies: 

  1. Risk​ ​-​ ​risk​ ​can​ ​be​ ​mitigated​ ​by​ ​dealing​ ​with​ ​somebody​ ​local​ ​and  trustworthy​ ​-​ ​the​ ​evangelists.​ ​Risk​ ​goes​ ​hand​ ​in​ ​hand​ ​with​ ​complexity  and​ ​security. 

  2. Complexity​ ​-​ ​nobody​ ​really​ ​understands​ ​how​ ​cryptocurrencies​ ​work,  and​ ​so​ ​security​ ​can​ ​be​ ​a​ ​problem.​ ​The​ ​evangelists​ ​will​ ​be​ ​trained​ ​by  way​ ​of​ ​conferences​ ​how​ ​security​ ​is​ ​achieved.​ ​The​ ​POS​ ​app​ ​itself​ ​is​ ​not  a​ ​wallet​ ​and​ ​cannot​ ​be​ ​used​ ​to​ ​spend.​ ​Its​ ​purpose​ ​is​ ​only​ ​to​ ​monitor  the​ ​vendor’s​ ​Ethereum​ ​address.  It can also communicate the amount to pay by way of a QR Code or NFC.

Why is blockchain needed to solve this problem?

Until​ ​now,​ ​products​ ​that​ ​make​ ​it​ ​easy​ ​to​ ​spend​ ​cryptocurrency​ ​have​ ​focused  on​ ​what​ ​I​ ​call​ ​the​ ​supply-side​ ​of​ ​cryptocurrencies.​ ​These​ ​products,​ ​like​ ​abra’s  wallet​ ​and​ ​the​ ​TenX​ ​credit​ ​card​ ​(Singapore),​ ​have​ ​one​ ​thing​ ​in​ ​common:​ ​these  all​ ​convert​ ​cryptocurrencies​ ​to​ ​fiat​ ​money,​ ​which​ ​then​ ​allows​ ​the​ ​user​ ​to  engage​ ​in​ ​commerce​ ​in​ ​the​ ​fiat​ ​universe.​ ​The​ ​Pure​ ​Money​ ​POS,​ ​on​ ​the​ ​other  hand,​ ​aims​ ​to​ ​increase​ ​cryptocurrency​ ​use​ ​as​ ​medium​ ​of​ ​exchange​ ​by  focusing​ ​on​ ​the​ ​demand-side​ ​of​ ​cryptocurrencies​ ​(Ethereum​ ​to​ ​start​ ​with).​ ​It  does​ ​not​ ​convert​ ​to​ ​fiat,​ ​but​ ​rather​ ​encourages​ ​commerce​ ​in​ ​bitcoins​ ​and  ethers.​ ​The​ ​POS​ ​basically​ ​allows​ ​street​ ​vendors​ ​and​ ​other​ ​micro-businesses​ ​to  accept​ ​payments​ ​in​ ​ether,​ ​and​ ​the​ ​network​ ​effect​ ​is​ ​achieved​ ​by​ ​way​ ​of​ ​a  Dapp​ ​and​ ​evangelists​ ​who​ ​will​ ​push​ ​the​ ​POS​ ​among​ ​micro-businesses,​ ​and  who​ ​are​ ​then​ ​compensated​ ​for​ ​every​ ​POS​ ​transaction​ ​that​ ​occurs​ ​in​ ​the  network.  The​ ​POS​ ​app​ ​is​ ​going​ ​to​ ​be​ ​much​ ​simpler​ ​than​ ​a​ ​wallet,​ ​and​ ​is​ ​not​ ​the​ ​main  product​ ​here.​ ​The​ ​main​ ​project​ ​is​ ​the​ ​Dapp​ ​and​ ​enrolment​ ​site​ ​that​ ​will  compensate​ ​the​ ​evangelists​ ​for​ ​their​ ​work​ ​in​ ​distributing​ ​the​ ​POS​ ​app.​ ​The  Dapp​ ​and​ ​the​ ​evangelists​ ​are​ ​the​ ​linchpin​ ​of​ ​this​ ​whole​ ​idea.​ ​In​ ​essence,​ ​the  evangelists​ ​are​ ​LOCAL​ ​distributors​ ​trusted​ ​by​ ​micro-businesses.​ ​They​ ​will  install​ ​and​ ​support​ ​the​ ​POS​ ​app.

What is the size of the market?

It’s​ ​going​ ​to​ ​be​ ​huge.​ ​The​ ​POS​ ​will​ ​be​ ​installed​ ​and​ ​distributed​ ​by​ ​the  evangelists​ ​not​ ​only​ ​among​ ​micro-businesses,​ ​but​ ​also​ ​among​ ​small​ ​to  medium-sized​ ​businesses​ ​wanting​ ​to​ ​participate​ ​in​ ​the​ ​Ethereum​ ​revolution.​ ​I  envision​ ​a​ ​POS​ ​app​ ​that​ ​can​ ​serve​ ​as​ ​secondary​ ​POS​ ​also,​ ​alongside​ ​the​ ​fiat  POS​ ​that​ ​accept​ ​credit​ ​card​ ​payments.​ ​Covering​ ​even​ ​just​ ​1%​ ​of​ ​the​ ​worldwide  credit​ ​card​ ​POS​ ​market​ ​is​ ​already​ ​huge​ ​compared​ ​to​ ​current​ ​Ethereum​ ​market  cap.

What other solutions are currently being used to address this problem?

It’s​ ​a​ ​chicken​ ​and​ ​egg​ ​problem:​ ​work​ ​on​ ​the​ ​supply-side​ ​or​ ​aim​ ​to​ ​increase​ ​the  demand-side​ ​of​ ​Ethereum​ ​usage​ ​as​ ​medium​ ​of​ ​exchange.   Until​ ​now,​ ​products​ ​that​ ​make​ ​it​ ​easy​ ​to​ ​spend​ ​cryptocurrency​ ​have​ ​focused  on​ ​the​ ​supply-side​ ​of​ ​cryptocurrencies.​ ​These​ ​products,​ ​like​ ​abra’s​ ​wallet  (​www.abra.com​),​ ​the​ ​TenX​ ​credit​ ​card​ ​from​ ​Singapore​ ​(​www.tenx.tech​),​ ​and  even​ ​BitPay,​ ​have​ ​one​ ​thing​ ​in​ ​common:​ ​these​ ​all​ ​convert​ ​cryptocurrencies​ ​to  fiat​ ​money,​ ​which​ ​then​ ​allows​ ​the​ ​user​ ​to​ ​engage​ ​in​ ​commerce​ ​in​ ​the​ ​fiat  universe.    Why​ ​not​ ​work​ ​on​ ​the​ ​demand-side​ ​instead?​ ​Allow​ ​restaurants,​ ​barber​ ​shops,  beauty​ ​parlors,​ ​groceries,​ ​stores,​ ​etc​ ​to​ ​accept​ ​ethers​ ​using​ ​a​ ​POS​ ​app.​ ​It’s​ ​not  enough​ ​to​ ​simply​ ​build​ ​a​ ​free​ ​POS​ ​app.​ ​It​ ​has​ ​to​ ​be​ ​properly​ ​marketed.​ ​The  Ethereum​ ​Evangelist​ ​Network​ ​Dapp​ ​will​ ​provide​ ​the​ ​infrastructure​ ​for​ ​properly  distributing​ ​the​ ​POS​ ​app.  Of​ ​course,​ ​these​ ​small​ ​businesses​ ​could​ ​just​ ​use​ ​a​ ​wallet,​ ​and​ ​there’s​ ​not​ ​one  but​ ​several​ ​Ethereum​ ​wallets.​ ​However,​ ​the​ ​two​ ​problems​ ​explained​ ​above  prevent​ ​these​ ​small​ ​businesses​ ​from​ ​simply​ ​adopting​ ​these​ ​wallets​ ​(except​ ​for  a​ ​very​ ​few).   

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