Coins to pay for stuff

Discussion in 'Crypto Forum' started by Paul Schellens, Nov 12, 2017.

  1. Paul Schellens

    Paul Schellens BoxMember
    Founder

    Nov 11, 2017
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    Cryptocurrency Debit Cards make it possible to pay for real world assets directly from the cryptoverse.

    Once you’ve accumulated some cryptocurrency assets and want to spend on real world assets and consumables, you have a few choices:

    • Find a vendor who accepts cryptocurrencies directly. The list is growing, but more so in some countries than others unfortunately;
    • Link a bank account to an exchange and withdraw cryptocurrency funds into your bank account’s default currency to spend as usual; or
    • Skip that process and pay directly with one of the new cryptocurrency debit cards.
    Cryptocurrency debit cards allow you to use your accumulated coins for purchases as easy as using any classic credit card. Additionally, they come with a few new options, such as being able to activate and de-activate the card as you choose.

    TENX (Token Code: PAY) is the largest on the market, but others include Monaco (MCO), Centra Tech (CTR) & TokenCard (TKN).

    These are businesses which offer a physical debit card which can be used just like a normal Visa or Mastercard, but they also have their own cryptocurrenies (referenced as their token codes above) which are used for various purposes in their network.

    For instance, the TenX token, PAY, rewards users with small amounts of Ether for every transaction made with their wallet.

    When a payment is made, the selected coin currency is instantly converted to an appropriate local currency, so that the receiving vendor doesn’t know that the purchase was made in cryptocurrency.

    The cards don’t support spending from all cryptocurrencies, but do support the largest and most common, such as Bitcoin & Ether. TenX supports spending from the most cryptocurrencies at the moment.

    There is high demand for these cards and they may not be available in all locations.

    I haven't used one yet, but am planning to order one or two soon. First I have to find out which ones are available to Australian customers!

    It'd be interesting to hear anyone else's experiences with any of these cards.

    Will this be the way of spending cryptocurrency in the future or will it be just a passing phase while we await better direct crypto payment systems?

    Paul Schellens,
    www.iQCash.net
     
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  2. Kadeaus

    Kadeaus BoxInitiate
    Founder CoinMaster

    Nov 10, 2017
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    Decentralized Citizen.
    The Blockchain.
    I believe, even though these cards are EXTREMELY USEFUL in the present state, I think as Cryptocurrencies become more mainstream, there will be a much less need to depend on the legacy payment processors of yesterday, and therefore these cards will become more useless. but I don't see that happening before 2020.
     
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  3. DanielAl

    DanielAl BoxMember

    Apr 10, 2018
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    Blockchain and the real economy

    Developers of  Yodse ecosystem are among the first to offer blockchain advantages for the real economy.

    The following types of manufacturers will be able to use  Yodse ecosystem to promote and sell their products:

    – Aviation and railways equipment;
    – Automotive components;
    – Mining equipment, road construction equipment and tools;
    – Agricultural machinery;
    – Floating equipment;
    – Telecommunication and power equipment;
    – Measuring equipment;
    – Production machinery;
    – Ventilation equipment;
    – Lifting and transport equipment;
    – Shut-off and control valves, bearings, compressors, pumps;
    – Motor and turbine equipment.

    Today, some people underestimate advantages that blockchain provides to the real economy. However, we can already observe examples of large companies successfully using decentralized data networks in production.

    For example, Wells Fargo group, which operates cotton production plants, decided to use blockchain to track transportation of raw materials from Texas to China. The data chain in this case is a tracking system that reliably reports on where raw materials are at any given moment of time. The company constantly monitors the location of cotton. In case it turns out that a raw material has not been delivered to its destination, the company does not pay the counterparty for its services.

    yodse_banner_black_2000x500_002.png
     

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