This would only be an issue, if the cryptopayments were more expensive than fiat ones but since cryptopayments are cheaper (no middle-men such as mastercard or visa taking their share + the upkeeping of POS bank terminals) there will be no reason for the sellers to add extra price to the products. To be fair, for those vendors who do not wish to receive cryptopayments directly, form them Smarts will be the middle man who takes care of crypto and will return fiat to the seller. But even those costs will be less than half of what they are paying right now.

So in a nutshell, Vendors will have no need to increase the pricing.

The vendor, as in the store who sells the items, yes : )

You are basically correct, yes : )
The transaction fee, if its needed (if the trading profit will not cover it), will be billed to the vendor, much like currently mastercard and visa act.

That is true, you can never be too careful in this world, so thank you for pointing out those issues.
The linkedin accounts you are correct, are very much missing but not for much longer. Until then though, I will post them here:

Kristo Truu, CEO
Ilja Andrejev, CTO
Glen Madis, CFO
Hendrik Jaanre, CMO
Oliver Oidekivi, Q&A Specialist
Karla Ribelus, Head of Design

Concerning the relative freshness of our twitter and webpage - until those moments we were heavily in the phase of development, with all of our rescources going int o creating the working prototype you can see in the following video: https://www.youtube.com/watch?v=TzZUhVReegk

And about github, we are not in any way an open source project, so as a company we have no code to share with the public, yet.

Thank you for pointing out those issues, were our answers satisfactory?

Dear Hunters, unfortunately we have to announce that we have closed down the token sale, since we are unable to reach our minimum cap and we see traditional investments a more suitable way for Smarts to develop.

This also means the end of the bounty campaign and any possible stakes.

Thank you all for your support and feel free to contact us with any issues considering the bounty campaign at smartskarla@gmail.com

Sincerely
The Team of Smarts

Great point. First, with crypto payments, we will be selling short in the exchange, which covers 90% of the loss risk. The rest will be covered by a small increase in the transaction fee. So whatever the volatility will be, we will be taking and covering the risks.

Second, we dont see the SMT's as a new cryptocurrency, they will be something to pay for our service fees with - whether for a vendor to set themselves up in our system or for a customer to cover the crypto transaction fees, when they pay with Ether or Bitcoin. Our prototype already works with Ether and the MVP will also have Bitcoin transactions available.

The more people will start using crypto daily, the less there will be volatilty issues so we will be accepting and managing them as growing pains.

Very good question. Since the platform is free to use for the end-user, all expenses will be covered by the vendor. So, when a vendor accepts cryptocurrency, they will also cover the transaction fees. But, if you have SMT's, you can use them to cover the transaction fees yourself and so, your purchase will be cheaper.



Thats a solid point there, dzkrb1966.

This is how the payments will work:


Smarts will cover all the risks of accepting crypto (if the vendors dont want to deal with crypto) and will pay the Vendors with FIAT. So, the vendors will get FIAT but also the customers will get to use crypto as a payment method for their everyday shopping.

Yes there will be, we will announce it here and let you know when it will be happening : )


You are very correct. The minimum amount would be 100 (SMT's) which would be about 0.076 (ETH). But, if you invest at least about 12 ETH, then you will get company shares and will profit directly from everything Smarts earns in dividends.

And to answer 'maitseasi', the Tokens will can be used if you want to set up a Vendor account (store owner and want to use Smarts) or a customer using the app - the SMTs can be used to cover crypto transaction fees, so your purchases will be cheaper than it says on the price tag.

That is completely right, my good sir. Since our platform does not ask the vendor to have any real hardware other than a server from which Smarts can broker the product details, even a small convenient store can start using it. Our main goal is to make Scan&Go available to all vendors and to make crypto an everyday currency by allowing it to be used on our platform.


It's been 'experimental' for a long time now. The main problem being that there have been no developers to build a standardized system to fit all the different Store systems, so development and implementation costs for one chain get massive. And since it is not a critical thing for stores to have it, they've yet to succesfully make a world-wide appearance.


If by Amazon, you mean their cashierless 'Go' stores, then that is a system which can be affordable only to a crazy small amount of vendors due to its hardware costs, if they even make it available to other chains.

You are right about possibly being behind, but that does not mean all stores across the globe will be able to implement those analogous systems at once, especially with the need for special hardware. Besides, getting there second isn't always a bad thing - its usually the second mice which gets the cheese : )

But in any case, with the way we've buil our platform, entering the market will be possible in a year and a half after gaining enough investments.

That's a really good point you are bringing out here. There are many analogous sytems out there but most of them use special hardware for it and whats even worse is that almost all store chains try to build their own Self-service platform basically from scrach or on outdated tech and methods.

There are countless of stores using those scanners you mentioned, but why should we use extra hardware, if we have our phones?

In China, there are cashierless kiosks, where you can use your phone to pay for the products but traditional stores cant really implement this system.

In the US, Sam’s Club, is currently using their own custom build system thats gaining popularity, a system that basically works the same way as ours, but its not in any way standardized and really difficult for other stores to connect themselves with this system even if it were made available to others.

The main issues come down to the developing and integration costs as well as implementation time. Smarts has built something that is really easy to integrate and quick to set up, so even a small store can use it because of its cost-effectiveness.

Furthermore, we give the stores another method of payment to accept - cryptocurrencies. All the risks of crypto are covered by us - we will take the crypto form the customer and the store will get their money in fiat from us.

So in a nutshell:

• Very quick implementation
• standardized system that any vendor can use in a matter of hours
• cost-effective
• supports crypto

We've actually heard alot that "i've heard this thing in use somewhere", but never have they actually used it themselves.

Well, that's mighty nice of you, thanks a bunch.

Smarts STO has ended.