Prepaid etn without any additional infrastructure

I get your point, if we are talking about a non western world. And in that case i concede that this may a way for someone to sell ETN. However i am from the west… and i would never have my ETN on a wallet that someone else has the private keys which enables them to steal my coins.

For the record: I am not trying to bash your idea, i just feel it is very Important to educate others of any security holes to avoid them loosing their money. If nobody points this out and they feel it is somewhat normal to buy a wallet from someone who can literally take their coins from within their wallet without them knowing, then we are not doing our job as a community to look out for eachother.

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I wouldn’t advise this, too many ways to scam the customer and bring mistrust to etn.
Also, if funds did go missing and the seller was not involved it would be easy for the customer to point the finger at the seller.

Just direct new users to the paper wallet page. its easy enough.

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Can you clarify how pointing them to the paper wallet page help them to acquire etn?

You can’t get Etn pointing them to the paper wallet. But by helping them to set up a ‘secure’ wallet you can then facilitate the loading of that wallet.

We need to facilitate the transfer between fiat into etn. We could either have an agent transferring etn into the buyer account or use a one off use only paper wallet preloaded with etn. We are not talking about large amount but may be 5-10etn which is hardly a worthwhile amount for scamming someone if you are an agent.

Could be something like a Gift Card, packaging wise. Have a QR code publicly displayed for verification of funds on said card, and a scratch off area on the back with the code for retrieving said funds. Could easily be scratched off and accessed right in the store, if one wants to.

With that kind of packaging, I’d say that these security holes are kinda moot. Especially if the handling/loading of said wallets was done by a third-party manufacturer, and not the store owner themselves. The manufacturer would be shooting themselves in the foot by defrauding customers, so there’s an implicit trust level there. The shop keeper would never have access to the withdrawal key.

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For that to work, there would need to be either an in store interface (maybe as part of the kiosk) with a QR code reader, to display/verify funds, or the ability to view paper wallet funds in the Mobile app. Or another mobile app written by that vendor. So there are still points to iron out, but it’s doable.

This would be the perfect solution just like a prepaid mobile voucher but would require some infrastructure which I am not sure the third world could afford.

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Exactly. Having something built into a mobile app would work perfectly, though. Maybe if said third-party manufacturer partnered with Electroneum to have that support in-app…

lol If I had the funding to kickstart this sort of thing, I’d be down to do so, as it is a great opportunity to fill a gap in the industry.

Try the find starting site. Which have got me another idea. Crowd fund raising using etn for etn related projects?

Yeah, I’ve thought that as well. Would be a cool site, I’m sure.

Main sticking points for starting up such an endevour is working capital and inventory. You need the necessary Electroneum for loading an inventory of cards, as well as the funding to manufacture said cards. Getting the cards in stores would be fairly easy, as it could be endorsed by Electroneum and offered on a region by region basis, maybe as part of their marketing package they’d send out to retailers, for an added fee.

@ETNCEO @chris.gorman take note :memo: :laughing:

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Not sure what kind of incentives one could offer that would make it a worthwhile kickstarter/crowd-funded project.

A realistic return in etn? We could supply the card initially supported by electroneum (for say contributing 10% of the etn in the wallet) once etn is main stream then we could charge the consumers?

I think it would go a long way towards mass adoption, as it reduces the headaches of purchasing ETN. They wouldn’t need to go to an exchange or anything.

That does bring up an interesting point when it comes to pricing ETN loaded cards. It would have to be something which has a flexible price, rather than a flexible amount of ETN for a fixed price.

That could be potentially solved via the instant payments API, however.

This can be solved by dynamic pricing which some supermarket uses to sell fruit for example.

When it comes to profits, I’d look at how VISA gift cards are set up. A low convenience fee, basically.

True. Set up a basic mobile application which can display the current price + vendor markup on demand.

Could even use IOT tech to have, on a supplied kiosk that’s connected to the web, the price for a card + vendor set markup.

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The problem with this idea can be fixed with a little idea as this:
Reputable brand outlets could print such cards with concealed keys before human presence. That is, the scratch off area of the card would be concealed before it’s out of the machine, then then loaded via the public key as usual.
Summarily, one buys from reputable brands only.

Thanks.

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