Just reading through the web page of Blockscart and i immediately love the business idea towards shopping online using the Blockscart token through a global blockchain powered market place, e-commerce is gradually becoming more important in today's world.
With a low amount of bloc in circulation, surely the demand for this token will be huge and this will surely increace the price of bloc token,
But if only bloc token will be use for payment in the market place and evidently the price of bloc token is high, won't it create an artificial rise in price of goods in the market place?
Why the huge difference between phase 1 and phase 2 price?
Thanks for your questions Notin2.
We believe we underestimated the price of BLOC. We offered it at a low rate at start to see what benefits it could bring.
Originally it was set as a discount token but we changed it to make it a payment token.
Once it is listed on an exchange with value then we can change the marketplace so only BLOC is the payment option.
With 18 decimal places.
We can allow for other tokens or coins to be used at our discretion. As long as they are Ethereum based.
Starting with ETH as payment option then add BLOC when on trading exchange.
ETH can be converted to FIAT quickly so vendors have no issues with it.
All prices are converted from dollar to eth with a live exchange feed. This means prices cannot inflate or deflate based on the market as its set against the Dollar.
If a product is $400 and Eth is worth that then it will be 1 eth. if it changes then the payment gateway will also change to represent the dollar value to ETH.