Hey all,
Interesting project. I think it's a great way to bring new people into the crypto-currency world, and empower people across the globe through education.
Just a quick question, hopefully I didn't miss it somewhere: How is PayPal integrated into the platform? Does it tie in with STU?
Cheers!
Hello rhinomonkey,
Thank you for asking this question.
The plan is to build blockchain solution and record both PayPal and STU necessary activity on the blockchain.
Tasks like member registration, job posting, interviews, job engagement and completion will be stored on the blockchain ( or necessary minimum related to those tasks).
Users will then have the option to choose method of payment. In case they choose to use PayPal, our role will be to make the payment to them in form of FIAT.
This might include some conversion fees. We will partner with organizations/exchanges which offer such conversions.
The end result to the user will be that they will receive their pay in the selected currency.
Choosing FIAT will have obvious disadvantage in form of additional fees, while choosing STU will have no fees attached to it, other than fees
of using Ethereum network and platform fee.
With the time, students will become familiar with the platform and switching to STU will be as hard as making choice in the drop down of
available payments.
Allowing FIAT transaction in the platform will increase adoption of bitjob.io
Once the market becomes more liquid we will work with University facilities like cafeterias, book stores to accept payments in STU.
Possibly down the road more merchants will accept Bitcoin as form of payment and accepting STU will only either require
converting to BTC through e.g. ShapeShift or paying directly to the merchant.
We believe this future is not very distant.
Bogdan Fiedur
Bitjob CTO
