Firstly I wanted to thank @Cosmicrypto for pointing out that at 13:10 in Crytpo Riches interview we get a brief mentions of ETN being in discussions with vending companies which would be incredible for the ETN eco system. One can imagine using the super quick seamless IPS ( Instant Payment System) to get their lunches, coffee, snacks etc from vending machines and it could spread incredibly fast since their easy to deploy and don’t require much space. So again thank you Cosmic for pointing out that bit I missed in the video!
On to the idea that it triggered for me when I heard that. I got thinking what if Electroneum created an ETN branded ATM that doesn’t just convert ETN though they could go that route of they so chose but one that could integrate the cryptos that follow international laws and go the kyc route so it’s only ones following the current laws of the land.
They could pay a small fee for each transaction to be incorporated into the ATM so Electroneum makes a little profit as well.
I think this could do really well long term and like the ETN vending machine idea, they don’t take much space and would help immensely with adoption and you could add the ability to perhaps even buy ETN via the atm, make it different from a traditional model in that regard. Perhaps add a credit card function to also instantly convert your local fiat to ETN.
Though I think we’ll eventually go to a paperless society but that’ll still take time and something like this could help dramatically speed up this transition & Electroneum could be the segway into this new paperless society. It’d also help with mass adoption immensely while breaking down some barriers to people acquiring ETN easily. For now, the ability to also get fiat till that transition is complete I think would be essential and people would be less apprehensive about using ETN much more often.
I’d love everyone’s feedback on this idea, so please feel free to share your comments below.
Thanks @J5Alive that is some really forward thinking. It seems like a natural progression really. I call that your prediction here will very quickly become a reality. Top stuff
You’re most welcome and thank you for that catch, it instantly popped into my head once you mentioned the vending machines! It truly does, I absolutely love the direction Electroneum is taking. I can envision all this in my head so easily and I think it’d go over well with the general public.
Indeed we most certainly do and I feel bad for them too because they don’t have the vision to see where Electroneum is headed long term.
@Magic, you’re right about that! They’ve been so busy behind the scenes with just incredibly massive plans to bring ETN the the entire world. I am super impressed with all they’re accomplishing it’s nothing short of remarkable!
They honestly probably do, I’d not be the least bit surprised honestly. Just the fact
they’re in discussions with vending machine companies pretty much indicates it.
That said, it got me thinking about a way to go away from totally traditional machines
to one that can add those other legal crypto’s plus add a way to convert our fiat right
at the machine to ETN or the others if ETN chose to incorporate them.
Richard and the team has such long term vision with things and think of ways to
accomplish mass adoption through new and exciting avenues!
AMAZING! Not sure how this one slipped under the radar- another profit stream for a branded atm- I could see this a great idea. Imagine sports and concert arenas The world is our oyster !!
Thank you very much for the feedback @Annastasia, it’s highly appreciated! Absolutely it could do incredibly well and help Electroneum in multiple ways. That’s awesome, I could totally see them at those venues and at grocery stores, convenience stores, gas/ev stations, the list really goes on and on.
Oh my! YES please, that’s what I mean, the ramifications of this are insane. Can you see this
at Disney with the features I listed? BOOM!
@Cryptoman976, I’d love to see them added to those too but that’s why I added
the features I don’t think those machines have in regards to ETN only allowing
cryptos added to their machines that follow the regulations that are upcoming.
Also the ability to purchase ETN with the atm via a credit card which I think would
also really help in regards to mass adoption.
Great article, this would essentially be just like that where it’s just a conventional atm but a bank teller of sorts due to the fact you can buy ETN or withdraw money in fiat.
On the remote areas like that this would be an absolutely perfect solution to that problem. With Starlink satellite internet coming that’ll blanket the entire world covering remote regions like no other ISP ever has, it would work really with through that system or one like it via wifi. That’s an awesome idea @Annastasia.
That would also be a giant help to the unbanked too!
I know right! Great point about the satellite internet. Gosh, I just feel like we’re in such an amazing time with ETN. They have been working so hard to get things off the ground this year, and the next few years imagine all the opportunities we (aka the etn team) will be able to take advantage of!
Speaking about the gig economy side- I know for a fact, I use fiverr every day and work with freelancers all the time. When I tell them about the ETN’s gig site and the fact that they can keep SO much of their pay and not lose 50% because of service fees. It’s really a no brainer. I love that site, i’ve been on it for years, but for me to pay $3 service fee PLUS the freelancer losing such a huge % of their earnings… Nope. I feel like a change is needed. I’m going to be the first on that site, spreading the good word to freelancers all over the world. Maybe even they will work on both sites until the demand is there on etn side and then completely switch over. Like a myspace—> facebook migration.
HOT DAMN friends. I’ve never felt SO sure of etn’s future and the direction they are going in. I couldn’t be more proud honestly. etn fan girl in the house
Thank you and we definitely are! Our future with ETN is as bright as the sun and it’s going to get absolutely massive over time. The team has indeed done an outstanding job getting things off the ground and getting the infrastructure all into place and building out the eco system.
You’re right about the gig economy, I’ve also used Fiverr several times for a few different things and it works really well. It’s an awesome site and in addition to the fact people keep more of their earnings it’s also going to be a crypto first far as I know for doing a gig economy site. I haven’t seen any other crypto’s do this at all. ETN is going to be #1 entering another category yet again!
I think the gig economy site is going to blow up extremely fast in all honesty, I don’t think it will take long as all to get attract loads of users. I’ll also be pushing it as soon as it’s released to the public and ready for use and get as many people using it as possible. Indeed, that’s a great comparison and I think it’ll get a lot bigger than most people realize and it will be a HUGE part of the ETN ecosystem. I am truly excited to see and use it. I can’t believe they said 6 weeks or less and we got this too! It’s just rush of fantastic news lately.
Richard and the team have such a comprehensive brilliant long term vision for the company and just imagine where we’ll be on a year or two? We’ve most certainly got a wonderful future ahead with ETN and I can’t wait to see what else they have coming down the pipeline!
The world is our oyster !!
