The common person doesn’t use crypto. They don’t have any good reason to utilize it in their everyday financial transactions. And this is the problem, and this should be the main focus of every crypto developer and builder in the ecosystem. But it isn’t.
What I am talking about is an infrastructure designed and targeted toward small business owners. I’m talking about mom-and-pop stores, used book stores, pizza places, independent hair salons. This should be the main focus of every zoom board meeting across the whole corporate blockchain sector, but it isn’t.
Instead, the whole scene is rather incestuous. They are busy, night and day, trying to scheme out and devise programmatic ways to turn crypto into more crypto. They have figured out how to create interest-bearing accounts, how to transfer value and manipulate the exchange of currencies to pad their own accounts and reserves. But nobody has figured out how to make crypto currency appealing to the common person or the small business owner.
But this is what is needed. Otherwise, the whole space will continue to be dominated by fiat currency and the traditional financial markets and exchanges of value.
The solution is to connect a network of businesses around the growth and trafficking of a single token.
We must think, not as developers, tech nerds, geeks and crypto-bros, but as salesman and marketers. We must focus on our approach to businesses first, and then develop the tech around that introduction. We need to be able to bring real, tangible, immediate value to any business, small, medium, or large. So let’s get into it…
Business owners want one thing, and that is revenue. They want to know how you can help them increase revenue.
Now, there are two ways that business owners traditionally accomplish this. The first is in-house, as it were– through marketing campaigns, added product, or instituting more efficient production lines. The other is out-of-house, which is in the sphere of their personal investing strategies outside of their business accounts.
We have the power to offer business owners a package that could satisfy both of these requirements, but nobody anywhere seem to be interested in offering these services.
What I am talking about is something like this: You approach a small business owner. You offer to make crypto a part of their business superstructure. They pay you an installation fee to graft in a payment system for their product or services.
Now, this has been attempted. But it is not enough.
The fact is, Joe’s Pizza isn’t going to sell enough pizzas per quarter to even cover the maintenance for this new system, in all likeliness. And this is the big problem that we in the industry are facing– that to the business owner, a crypto integration is a novelty item. It is nice and shiny, and has some marketing value, as it will deliver a short-term buzz around the business.
But that is not enough.
Business owners traffic in the exchange of cash and credit because other business owners traffic in these mediums of value.
Business owners traffic in the exchange of cash and credit because other business owners traffic in these mediums of value. A custom token might work for a special service offer advertised by an enterprise business, but customers will, in all likeliness, find such an offering an annoyance, and too laborious to cash in to be worth the trouble.
The solution is to connect a network of businesses around the growth and trafficking of a single token. Let’s call it the STATE token. This token will be used by consumers to buy goods from the business. But this is not our selling point, because as we mentioned before, crypto is just an investment vehicle, or a novelty for businesses currently. Maybe a pizza place would pick up one order a week from introducing a crypto payment option. And this is simply not enough to justify implementing the system in their business plan.
But if they become investors, or part-owners in the project’s main token, that changes things. Because, as we know, the price of a token is based upon volume, what kind of traffic it does, is it worth something? Therefore, if you can sign up 25 businesses, all using the same token on the same network, and each business sells an average of one product or service a week, at minimum, you already have a token that will be noted by the markets.
But if you can sign on just one business that catches lightning in a bottle, and they receive, say– 25-150 orders a week– now the token itself is increasing in value exponentially, and getting market attention, and even thought the pizza place only has a very tiny utilization of the network, he still reaps the benefit by being a shareholder.
Perhaps, he can be given 25,000 tokens upon integration, with a smart contract logic granting him another 25,000 in a year, as long as he remains part of the network.
If you can bring in e-commerce sites based within the state or territory that the token coverage exists in, all the better. This is a win-win scenario for the businessman, as it personally invests him in promoting the network to his peers, and enriches him privately, apart from the general accounting of his everyday business.
Basically, you sell integration as being a small fish as part of a larger whole. Any business that becomes successful on the network grants financial benefits to all members of the network, big or small.
Could such a thing be sold to mom-and-pop businesses across a county or state?
I dunno.
But dammit. We have to try something.
We need to reach small business America in order to make this thing succeed.