Big picture, I want to bring cryptocurrencies to the mainstream.
Transaction fees are way too high, with Ethereum, Bitcoin, or any cryptocurrencies right now, except for TRX. Using Bitcoin or Ethereum as an actual currency is just straight up unrealistic having to pay $10+ per transaction.
I want to online merchants to be incentivized to accept cryptocurrencies.
Fees for digital transactions right now are out of control.
PayPal: 1.9-2.9% merchant fees per transaction
Square: 2.9-3.5% +$0.15 merchant fees per transaction
Stripe: 2.9% +$0.30 merchant fees per transaction
I want to incentivize merchants to accept Cryptocurrency on their website by reducing their merchant fees from 1.9-2.9% to 0.01% per transaction. After talking with several large companies and merchants online, many are willing to accept our payment processing system if we have a working concept. They have been VERY eager and receptive to the idea. This is here I need development help - I don't have the skills necessary or the time to create the product as I'm envisioning.
Here's the idea: Picture a non-profit decentralized exchange. You deposit 1.5 BTC, you receive 1.5 BTC worth of our token on the TRX network. Our token value is directly linked to the price of Bitcoin, and backed directly by Bitcoin, and you can return your token to get back the original Bitcoin deposited at any time you want, with 0 fees associated (besides the typical fee to send/receive Bitcoin, which we can't get rid of). Essentially Wrapped tokens like WBTC, or WETH but running on the TRX network so it can be traded and exchanged with NO FEES.
Like how the USD is backed by Gold (or is supposed to be), our token is backed by Bitcoin stored securely in the exchange. The exchange is non-profit and it's sole purpose is to swap the Token for the original coin/resource deposited.
The idea goes much deeper, and I have an entire marketing plan and know how to gain traction. The longterm goal is to have these tokens traded instead of trading Bitcoin/Ethereum, to completely eliminate the fees associated with sending the original coins.
You will be able to send Ethereum Peer-To-Peer, wallet to wallet, with 0 gas fees, by trading instead the representation of the stored Eth. Or Bitcoin. Or USDT.
And several more as the idea expands.
Where the NFT's come in is more of the business side, and will be how you (the developer), me, and all early adopters of this token will be compensated. It's already been ironed out, and I can explain the idea in full when I find a developer who can take on this task with me.
Hope to hear back from some of you. This is going to change how cryptocurrency works if we can pull it off right.
Contact me on
Discord: gwk326#2527
or Email:
gwk326@gmail.com
