I seen a Youtube video by Naga Bo. I know everyone doesn’t agree with everything he says but he does have a point. The unbanked need a way to purchase the ETN also to take advantage of getting Double Data and Airtime. Most exchanges require a bank account making it difficult for them to buy. What do you think? I think this would be a move in the right direction.
I think the current hope is that the small vendors where the unbanked would buy their top up minutes would sell them and also accept etn for physical goods. It will be interesting to see how this develops.
Yea you are right. I guess it would work out about the same. They would just need to visit a local vendor.
No need, they can buy airtime and data on the ETN app! in South Africa. On the app they would go to top up, the top up take us to The unlimited group (cell phone operator) There ons can choose what bundle you want to buy with ETN. So, this is sorted?
I’ll go a little further with this. Way back in the 80’s as a kid in school I had a supply for a thing called a DREAD card. It was a detroit radio station thing. My Aunt worked at a store that would get them in from time to time and she would pull a bunch to the side for me. The store gave them away for free. I would then wholesale them to a couple of other kids I knew at school for $.05 each and they would retail them for more.
With a 2-1 margin I am pretty sure a bunch of smaller players will get into the the business of local buying and selling. I’d also imagine a more connected person will be able to get them from an exchange and with some small margin offload them wholesale to the retail vendors.
The retail vendors get a better margin with the etn they accept for physical goods due to not having to pay a surcharge to the wholesaler.
The end customer will still save some money on airtime. Also the free etn they earn by cloud mining is a clear incentive to learn how this works.
Now add gig guru on top of that. Some people will be able to earn etn from outside sources. They can engage in direct barter or buy stuff from the shops as they will have more etn than they need for just their phone.
All this fitting together has a really plausible chance to work. I’m pretty excited about that actually. Let’s hope it does.
P.S. Thanks for creating this topic.
@Tika I’m not so sure that the unbanked will be able to buy etn in the app as they will not have a payment method. But you do highlight that it will be very possible for the banked to act as middle men to help the unbanked get etn.
Payment method, sorry can you help me on this? Do you mean that they do not have ETN to buy airtime? Or revenue to ETN? sorry for not getting your point, blond
I know that they can use the coins they mine but wondering if they are able to purchase more through the app also being that they get Double data and air time for using ETN. They may want to purchase more than just what they mine. So the vendors really do solve that problem.
I misread what you had posted. There was some talk about potentially being able to buy etn using the app. I’m not sure if that actually happened. If it was possible it would still not be possible for the unbanked as they would not have a charge or debit card. So essentially I was answering a hypothetical that had not been asked. DOH! my bad.