Yeah, the 6% is getting me too. Its just too much. Token holders should get a portion, or lower it.
What markets is this targeting? What countries? In the US would you need a disclaimer with possible tax implications? I can imagine a grandpa buys it for his grandson in November and gives it for Christmas. The change in value should be taxed now. Which is ridiculous but is what it is this year at least.
How will it reach stores? Do you have to individually market it to each store or are there groups that handle getting gift cards into the store?
Hi there!
Please read the above articles if you have not done so yet. We are confident Gift Cards will be more fungible than ATM's will ever be, just because of the 'Gifting' idea behind them.
As for your other remarks:
1. Token holders 'get' a portion in the form of burning 1% from the 6% fees. Together with an ever increasing demand and value, the token will also be used on our future platform to receive various advantages such as most exchanges are doing lately. We are open to discuss any other advantages for tokenholders with the community, all ideas are welcome, here or on any (social) platform you can find, so please share whatever comes to mind that might increase our goal of global cryptocurrency adoption!
2. We cannot disclose any countries before we are sure we can/will sell gift cards there. At this moment we are not reaching to individual stores since we have to be sure of some form of legal insurance in every country we will be selling gift cards. We will however enclose all needed information in every gift card sold to make sure every buyer or receiver of our gift cards will always comply to local regulations.
3. The cards are planned to reach the stores the same way as for example Google Play or iTunes cards, distribution will be discussed with the same companies responsible for distributing these existing cards.
In order for us to be able to roll out as fast as possible (and as secure as possible), we came up with the idea of performing an ICO to raise needed funds to be able to pay for this whole process. These funds will be spend as can be found on our white paper and/or website, but in essence it will be for starting legal conversations in countries world-wide (perhaps/probably based on country interest in our ICO), paying for at least a part of the development of our online platform: the exchange, the API connections needed, our mobile app , ... Also the initial production and distribution of our Gift Cards will be paid from these funds (slowly evolving to being self-sustainable thanks to the fee asked for every gift card).
We are always looking for ways to improve our future product so any form of advice, feedback, criticism,... is appreciated!
Please let us know if there is anything else unclear!
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