Payments on AnyTask and the inception of the freelance platform powered by debit/credit card

These are very exciting times for Electroneum as we launch a real world utility product called AnyTask, a crypto-powered freelance platform that focuses on the seller, ensuring they receive the full amount of ETN sellers agree to pay for a completed task.

Naturally, many questions have arisen since we announced the next phase of AnyTask’s beta testing.

So, let me start by saying to people that have asked “when app?”, that the system has been designed from the ground up to be ready to make an AnyTask app. The Anytask system works via API calls, which is perfect for app development.

The community is anxious to know when the app will be ready, and the simple answer is that we will start developing the app once we have finished all the multilingual and translation features that we have planned over the coming months. You probably won’t see an app for AnyTask in 2020 - but lets focus on the positives! This is an incredible - ground breaking platform that has NEVER BEEN DONE in the history of the world. People RIGHT NOW are buying small tasks from our early task listers using their credit cards and the remittance is arriving at the other side of the world in ETN and they don’t have to have a bank account.

People have asked if there are plans to allow task PURCHASE with ETN. There are currently no plans to do this for various reasons, the answers to which are quite lengthy but incredibly important.

Firstly, the gigantic market for purchasing digital tasks is driven by the global north, which has a voracious appetite for low-cost digital solutions.

When selling a task, we do not want to try and take this new user on a journey of understanding cryptocurrency when we simply want them to buy a task. We need access to the FULL buyer market so that there are enough buyers to match AnyTask sellers. That was why we built in credit/debit cards.

Once these buyers understand the positive impact that they’ve achieved by purchasing a task using a system that allows true global integration, we can begin to educate a vast new army of cryptocurrency enthusiasts on the benefits of using ETN. Let’s not forget that having sellers paying for tasks with credit and debit cards brings new money into ETN. Remember that ANYTASK DOES NOT TOUCH CRYPTOCURRENCY! Sounds strange but this is vitally important. Banks and credit card companies are still largely anti-crypto. If AnyTask touched cryptocurrency they would shy away from us. AnyTask Ltd does not. We use a third party company that handles the fiat to ETN conversion and fulfilment. This leaves AnyTask Ltd as a purely fiat based company that can have a great relationship with card processing companies and banks.

Secondly, accepting cryptocurrency allows some anonymity, which could be a problem for AnyTask. A few projects have attempted freelance work powered by crypto in the past, and those platforms have instead become tiny dark webs, allowing the anonymous purchase of services. Thus, the services listed are frequently unpalatable to the mass market, and that destroyed the reputation of the platform.

By accepting credit or debit cards as payment, AnyTask changes the world. We use KYC for our ETN wallets, and there are no anonymous buyers due to bank card purchases. That protects everyone and enables the platform to grow at an enhanced rate in comparison to a crypto powered platform.

I own a digital marketing agency that spends many thousands of pounds on digital services each month. So, when developing AnyTask, I thought to myself “If I could personally save 10% on my costs by using a new freelance platform, but I would have to use a cryptocurrency exchange to turn fiat currency into Bitcoin, and then Bitcoin into ETN, and then pay for the freelance services, would I be able to find a member of staff that I could economically train and trust to manage this process?”. The answer was “no”. For this level of saving, I would not be willing to use a crypto-powered platform. I knew this though process would be reflect across the entire world with hundreds of thousands of digital agencies and buyers thinking the same thing.

I then asked myself if I would purchase from a CSR-focused platform if the sales process was precisely the same, and the prices were lower, and it made the world a better place. I decided I would hugely embrace a platform that enables this.

And thus, accepting credit and debit cards for purchases on AnyTask was the only way forward.

I’m sure more questions will be coming up - please remember everyone that AnyTask.com is currently in MVP (minimum viable product) so be patient with us! We have had an INCREDIBLE first couple of days, the office here is buzzing with excitement about inviting in the rest of the 27k of beta testers.

PS - Where I say “currently no plans” (to take ETN as AnyTask payment) - it is important to note that we WILL implement payment by ETN (via instant payment system) but we have hugely more important things to do first (translation system, task upsells, and many more system critical things). 99.9% of real buyers want to use a credit card - so we are “picking the low hanging fruit”, whilst bringing a new stream of fiat money into the ecosystem.

A lot has been said over a couple of years and even more has been delivered. Thank you @ETNCEO and team! Keep it up, you have the world on their toes :sunglasses:

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Great job Richard, the world appreciates what you are doing and that is making it a better place. Thank you @ETNCEO

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It is the nature of the beast with such a massive project that you will be inundated with requests for this, that, and anything anyone can think of.

I bet the “pay with ETN” suggestions are virtually all from the crypto community?

AnyTask is a brilliant idea and is how we will introduce crypto to the 99% - slowly does it, and while AnyTask is doing its thing it is actually happening under the surface, via the conversion/OTC desks.

Genius!

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Many thanks @ETNCEO for putting this out there . Hopefully this will answer some of the questions and silence some others…

Appreciate you taking the time to do this.

:peace_symbol::heart::grin:

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Makes perfect sense. Awesome work Richard and Team!
Very much looking forward to seeing the reputation of AnyTask being positively received by the rest of the world as user numbers increase, and of course, the impact it will have on the lives of its users.

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Thanks for answering this important question.

I was also wondering what is behind this. But I get it if it causes legal issues to accept ETN.
It’s still not optimal unfortunately and I hope one day you will be able to fully accept ETN as a payment as well.

Also longterm more payment processors would be great. Many people here in europe dont have credit cards but debit cards or prefer using paypal.

Hope more and more use cases for ETN will start existing :slight_smile:

~Matt

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Thank you @ETNCEO perfect explanation… I knew we can trust you whatever you doing… before that you always checking the best route or correcting things to be the best! ETN soon :rocket::rocket::rocket:

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it’s on our “to do” list - for multiple reasons - but thanks for the thought!

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Wow, very well put @ETNCEO! :+1:

Congrats to you and the whole team on AnyTask. It’s been a great experience to watch it all come together.

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@ETNCEO Thank you for above update and clarity on accepting payments with CC and DB,

but what if the seller want his funds cashed out in Fiat instead of ETN because lets say there is nowhere he can spend his hard earned ETN currently at his location. Surely he/she is doing this to pay rent, utility bills, etc to name a few?

Will there be an option in near future for the seller to cash out his ETN balance to fiat (registered CC or bank transfer) because lets be honest not all the sellers will be unbanked selling gigs.

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We are working on Fiat gateways and have a number of very exciting things coming. We also have utility bill top up coming (there’s currently a sneak preview bug in the app as Nigeria Electricity is listed !!! It doesn’t work yet… but it will at some point - although it will vanish for a while first!!!).

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I get that you need buyers to be able to purchase tasks using their credit or debit cards. I doubt the majority of people could be bothered to purchase BTC via an Exchange, convert to ETN, transfer it their ETN wallet, etc. so it’s great to not have to do that.

But surely you should also have the option of being able to buy things with your ETN too?

Otherwise, what’s the incentive for sellers to get paid in ETN? What and where are they gonna spend their ETN? I get that its a work in progress, and eventually you may be able too, but just seems strange that it’s not an option now. Perhaps there are more complicated legal reasons.

Just seems odd that the company trying to promote ETN and developed AnyTasks doesn’t use its own crypto!?! Hardly the way to get other businesses to accept ETN.

Oh well, watch this space I suppose! Keep up the great work, achieved a lot in such a small amount of time.

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Much appreciated for the personal reply. Looking forward to all the big thing to come with Anytask.com

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Otherwise, what’s the incentive for sellers to get paid in ETN?

To mention a few:

  • No bank required: That opens up a HUGE demographic of people who could do this kind of work but had no way to receive payment…until now.

  • Instant Payment System: This allows any company, anywhere to easily accept ETN for their products and services. As more people get involved… more companies will want to tap into that market and offer their goods and services for ETN.

  • MVNO Partnerships (mobile and utility top-up’s): An ongoing source of adoption from within the app itself. These mobile and utility operators are incentivised to push ETN to their customers and accept it for their services. This sector is HUGE in the target markets ETN is focussed on right now.

  • Peer-to-peer transactions: People can buy and trade using ETN face-to-face, safety and instantly. Again in the type of countries which are likely to jump at the opportunity to make money via anytasks… this is a very common method of trade for goods and services in their local area.

There is already a growing landscape of ways for people to spend their ETN as part of the bigger eco-system… Anytask is a ramp into that from more affluent countries/companies… but just one part of a bigger picture all foccussed around the digital currency. Ways to spend ETN is growing exponentially…

I strongly suggest everyone follows the official twitter account for Electroneum as they often tweet on-the-ground examples of ETN being adopted. Like anything… it starts small, and gains momentum.

@Electroneum
@AnyTaskOfficial

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ETN Everywhere will try to put that concern to bed. As you say if you cant use it why earn it.

People buy plenty of things with ETN already.Food, phone tops ups, cab rides, barber shops, car washes.
the list goes on.

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Yet AnyTasks doesn’t. Yet… :wink:

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Thank you for taking the time to post this. It’s much appreciated to understand the reasons why you go about releasing things the way you do.

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