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RE: Incentives For HBD to Become Desireable as a Payment Method
I have thought about these things, and how to make HBD work in the Philippines. The biggest hurdle I am facing, is how they can convert their crypto to Fiat. Small businesses tend to have lesser capital, so their sales are usually used to buy the ingredients and materials they use. You mentioned Hive doesn't have fees, but converting crypto to Fiat usually do. I have thought of offering the conversion service, but one would need a lot of liquid funds for that.
0.00118319 BEE
You make a good point about the existence of crypto->fiat offramp fees. I wonder if p2p no-fee exchanges would work for this purpose.
What if these small shops onboard some of their customers to Hive and offer them HBD for PHP. The incentive for customers would be a small discount for paying with HBD, for example, other than the additional benefits of having a Hive account (someone could offer free accounts for the shop), and the shop owner gets fiat to buy what it needs to supply the shop.
Those are good options. p2p no-fee would definitely be helpful, that is why I was considering it before. But the one providing the Fiat is taking most of the risk, since they're taking a stablecoin that has little upside, and will incur the fees if they want to convert it to Fiat themself. I can technically put the HBD to the savings, I just don't have enough funds or liquidity to steadily provide the Fiat haha. There is also the option of the store making a Hive account, and making me a small beneficiary in their rewards.
As for other discounts, I was actually thinking that the store can encourage the clients to make a Hive account, and post about their order and experience. The store and I can upvote it [with what little upvote power we have] to get them started, and maybe ask HivePH for some support as well. The store can give a discount on their order for their efforts [or I can pay for the discount].
There are a lot of options, but no funds haha.
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