Making Hive the place to go for commerces that want to accept crypto
I always believed that Hive could be compatible with the real world economy. With 3 seconds, free transactions and no intermediaries, Hive brings all the attributes necessary to be used by businesses. The only thing you need is a working internet connection but you also need that for all traditional credit and debit cards.
With the recent updates of keychain, you can now scan qr-codes and confirm payments within seconds. It's very easy to set up if you have a business or you want people to send you Hive or HBD for whatever reason (support, donations, purchases,...).
Setup your QR code to invite payments
Go to the keychain website. There you just need to enter the following data:
- the recipient wallet where people should send the money to.
- the amount that people should pay
- the currency HBD/Hive
- an optional Memo
Generate and download the QR-code
You can now generate the code and download it. You only need to include it into your website, your post, print it out and afix it in your shop and you can now receive payments.
Scan and pay
Your customer or donator just needs to have the keychain app installed to scan the code with his phone and make the payment within 3 seconds. It's free, fast and direct.
You can then check the payment in peakd, hiveblocks or any other place where you can read the transactions to your account.
Future developments
I watched this nice video by @hivescure where the local businesses offer the possibility to pay with HBD or Hive. The more businesses and customers involved, the more this way of transacting will evolve. I believe the challenge is to build a big enough local userbase to make it work. They are doing a terrific job in Venezuela!
If the developers (@stoodkev) of Keychain could introduce the possibility to generate these QR-codes also for Hive-engine tokens, businesses could now accept also BTC, LTC, BNB, BUSD and many others cryptos thanks to the wrapped versions that exist on Hive-engine.
Imagine the potential of that and what it would mean for hive! Offering a quick, fee-less payment processor for all major cryptocurrencies! All using the hive blockchain!
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This is a great development!!! I need to test it out.
It works quite well on my phone. You could sell things just with a qr code even online...
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I think as the time goes, peoples are very much active on it and also became aware of how to use in business.
It's getting more and more widespread and people start using it.
I keep trying to get my local vendors onto crytp, i can't believe there is still so much FUD around regarding crypto, I hope this catches on.
Crypto still carries a lot of negative connotations in the eyes of the general public. I hope this will change in the future.
It feels like a chicken and egg thing. More people needed to be using HIVE and then more crypto friendly businesses will accept it. But then again, you'll need more business to be accepting it, before the casual person who isn't into crypto will try it out. 🤣
I did read the posts about the HIVE outreaches in Venezuela and I think that's a good start.
I totally agree. You need more businesses who accept it and more people who use it as payment. In the end a local development like in Venezuela seems the best way to get started.
This is fantastic development and we all should promote it. The Keychain developers are doing great.
It's becoming a very nice tool with a lot of ways to use it :-)
That is nice to know. I didn't know that they made something like that. I wonder just how many people will use it and it sounds like it would fits what I expect to see in the Hive Sucre community. They have been trying to get stores to take HBD/Hive.
The way to push things in a local environment is a pretty good example how it could work. Once enough people use Hive and enough stores accept hive as payment other people and stores would follow easily. I'm looking forward to seeing whether it can really become mainstream in a very limited geographical environement.
This is even easier and you will not send cryptocurrency to the wrong address because mistakes like this happen so many times.
Thanks for sharing
That's another big advantage of this process.
Wow this is a great potential gamechanger for Hive! Thanks for sharing!
!LUV
@achim03, @relf87(3/4) sent LUV. | connect | community | HiveWiki | NFT | <>< daily
! help(no space) to get help on Hive. InfoIt could be. We just need enough people to use it and business to accept hive :-)
I agree with you that Hive has the potential to be compatible with the real world economy. The features you mentioned, such as 3-second, free transactions and no intermediaries, are all very attractive to businesses.
The ability to scan QR codes to confirm payments is a great development, and it makes it even easier for businesses to accept Hive or HBD. I'm sure that this will help to increase the adoption of Hive by businesses in the future.
I believe that especially in economies where the local fiat currency is very prone to inflation, crypto and hive have an important role to play and could find their place as payment solution for small businesses.
I agree with you... and this is definitely a step in the right direction. Hive is already a small economy, which can grow and eventually amalgamate with the existing economy.
It will certainly take some time and much more adoption but I like to see how things evolve in Venezuela. If it's possible to create such an ecosystem in one place, it can be replicated in others...
For sure, and Venezuela is a jurisdiction that is most likely going to be more open to such an idea, given the state of the national currency.