To the Polis Community
The Polis Development Team has been working with Cacao Payments and Evertec for the past few weeks. After much discussion, we believe Cacao Payments and Evertec are excellent institutions for promoting wide-spread mass adoption of Polis.
Cacao Payments and Evertec wish to collaborate with the Polis Development Team to create a physical PolisPay credit card. PolisPay cards will be usable at merchants all over the globe and enable real-world use of Polis and Bitcoin (with other currencies being added later).
Project Explanation
Last month, the Polis Development Team released PolisPay, a fork of CoPay. Cacao Payments and Evertec have expressed interest in using PolisPay to create a credit card solution integrating Polis and other altcoins. We are actively working with them on this joint collaborative project.
More details:
Cacao Payments and Evertec will use Polis as a payment for purchasing cards, altcoin fees, and conversion fees.
PolisPay Cards will have no geo-restrictions and will be usable all over the globe.
Initial release with Polis and Bitcoin, with support for more altcoins in the future.
PolisPay Cards are affordable at ~6 Polis or $25.
Microlending platform available through PolisPay Social Responsible Credit Card
The Price
As many of us expect, the price is not cheap. Cacao Payments and Evertec require 2 governance proposals: 1 for initial setup expenses and 2 for ongoing monthly expenses. We all understand the risks of cryptocurrency volatility.
For the initial setup, Cacao Payments and Evertec need a total amount of 30,000 USD (8,000 polis) and for the monthly budget, Cacao Payments and Evertec need a total of 3,000 USD. (800 polis)
For the pre-release, the card cost will be for about 25 USD, 6 Polis.
The Future
The PolisPay Card is just the beginning. We want to create a bridge between cryptocurrency and fiat and can achieve that through this partnership with Cacao Payments and Evertec, who have agreed to help us introduce Polis micro-lending to our community. We will be releasing 3 different PolisPay Cards:
PolisPay Standard Card: For Polis Holders that want to use their crypto in daily life.
PolisPay Credit Card: A small credit card that needs to be paid in crypto.
PolisPay Social Responsibility Credit Card: A credit for micro-lending with no interest. Covered and regulated by the Polis Foundation.
Disclaimer
This governance proposal is made by the Polis Development Team on behalf of the Cacao Payments and Evertec. We are working towards mutually beneficial goals and we believe they are loyal partners. If you have additional questions, we are open to questions on the Polis Forum.
This proposal can have wide-reaching impact and we will need to restructure our Roadmap and Whitepaper if this proposal is accepted by the community. This proposal is under development and subject to change, so please check the Polis Forum for updates.
You can vote for both proposals here:
https://forum.polispay.org/t/polis-core-team-polispay-card/120
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