I’ve been following ETN for a while and I started to think about some issues ETN might face. Richard mentioned in his gig economy video how people from underdeveloped countries could receive ETN by providing digital services. At first this sounds like a compelling idea but when I start thinking about it, I feel like this method is not going to be successful. Richard mentions how people from developed countries would have to pay for those digital services with ETN. The problem here is that ETN is not easily accessible at the moment. We all need to open accounts on a currency exchange sites like Crytopia or go to a website that offers fiat pairing before spending ETN on digital services.
The issue here is why would someone from America/Europe go through the hassle of buying ETN to spend it towards digital services, on a site that doesn’t have lots of sellers when he can simply go to popular sites like Fiverr and pay with cash using Paypal or MasterCard which is far more convenient. Maybe this could work if Electroneum’s gig economy site would let buyers pay with fiat currency and somehow convert it into ETN when paying their sellers. Also I don’t think having a gig economy site is going to be enough because I don’t think the majority of people who are unbanked are going to provide digital services that require to be skillful. So how are the majority of the unbanked world going to get their hands on ETN? The mobile miner is not enough for the majority of the unbanked world. Let me know your thoughts and if the team has addressed some of the issues I brought up.