ETN off-ramp solution

I wanted to know if this was a good way to off-ramp ETN in to a local fiat.

There’s a service called cash back that you can use when you purchase something by charging extra on top of the amount for the product. That extra amount is given to you as local fiat(cash).

Instead of using a credit card, you would use the ETN wallet. You would go in to a store and purchase some milk and then charge a little extra on the ETN wallet, and the cashier would give you that extra in their local fiat.

This service would add greater confidence in using Electroneum’s ecosystem because they can off ramp their money at any time at a local shop. That shop would have their local currency at hand. It would be in Electroneum’s interest in giving people more reasons to not off ramp their money such as paying their electric bill using Etn. However in the meantime not everyone accepts ETN, so the ability to off ramp ETN to Fiat would make people more comfortable and confident in the ecosystem.

*Shops will become small banks and currency converters

  • Gives incentive to buy something with Etn in order to use cash back feature.

  • It may be a solution to get around legal issues in converting ETN to Fiat

To use this effectively it should be setup at convenience store chains. This model can be seen and replicated at ma and pa shops.

Can anyone give me feedback and explain to people why this is a good or bad idea. Comments are welcomed.

And vice versa ? Advantage you gradually build up etn capital.
Benefit store owner more customers in his store.
Some of the 4 million electroneum holders.
If only I had this store in my area, I would have known.

Need your honest opinion on the off-ramp solution. No one has really bothered to reply except for you. So I’m wondering if the idea is not so good. I thought it was a good idea, but I might be missing something very obvious that other people can see.

Yeah, I did think about vice versa for just a little. There might be two issues with that. Stores might not trust their local fiat from an anonymous person due to rampant counterfeit issues in some countries. The second more pressing issue is that they need to know where the fiat is coming from. They would need some identification in order to convert from fiat to ETN. Some people won’t have identification. There would need some partnership with a chain of stores that had infrastructure that could check their id through the phone.

And yes, exactly, more customers would come in.

Okay, my opinion is that it is (much) too early to apply your idea.
The goal of electroneum is to build an ecosystem in etn.
But should it be that in 5 years, when the 21 billion etn is on the market and there is scarcity to promote the circulation of the electroneum coins, then I say yes to your idea.

However, nothing prevents a third party from providing the service.

Note: I don’t think it matters if you have 0 votes or 5 votes on your idea.
If your idea is such that it is immediately applicable, they certainly do. Or it could be that part of your idea is being used.

Even if you give a very good answer, it can be used.

Hopefully you can see my opinion and understand what I mean.

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