Roger Ver should be interested in this project, he wants Bitcoin to be used to pay for Coffee. I haven't seen want this project brings to the table that makes it different from most Altcoins in the space
The key difference is the business model.
GFTs will be fully backed by USD on the corporate bank account (hello, Tether). So we will be able to make automatic instant payouts in USDs to venue owners for the redeemed gift certificates including cross-border transactions. Fixed GFT price (
1GFT=1USD) allows b2c business operate freely. High volatility is one of the main obstacles that prevents crypto-payments from spreading.
Another great feature for business (I'm talking about restaurant owners in this case) is our totally free fully-featured SAAS solution.
It's incredibly cool, because when you are paying 100$ by your credit card, the recipient receives exactly 100$-worth gift, and the business owner receives exactly 100$ on his bank account when the certificate is redeemed.
You see, there's is a trick with gift certificates which makes them so interesting for business. About
5 to 12% of all
paid gift cards are never redeemed. We are using this difference to cover all USD transfer costs:
- Credit Card charging fees (1.5-4%)
- International transfer fees (0.2-1%)
- ACH/Wired payout fees (1-3%)
Of course, the more transactions platform process, the lower bank fees will be.
The most intricate part of that business lays in the field of finances, not the technical implementation. It was a challenging task to create such complex and flexible SAAS platform. But the real challenge is to make everything work with international transactions. There are a lot of restrictive policies, such as Know You Customer policy, Anti-Money Laundering and Countering Financing of Terrorism Act, European Union Fourth Anti-Money Laundering Directive and many other local laws that make international transfers far more complicated than they should be.
And we don't want to
"disrupt the market". It's a large multi-billion industry. We introduce both b2b and b2c solutions. Simple and completely free SAAS services for small business (see 2THE.PUB and EasyGifts solutions), tailored solutions for enterprise customers and our "platform+finance" services with really low fees for e-gift integrators (there are a lot of them, market is highly fragmented). Win-Win for everyone.
That's what makes our platform
really unique.