UberPay, Altcoins, Merchants and Speculators
I love Cryptocurrencies and believe passionately in their potential and as a business opportunity. It is for all of these reasons that I have decided to throw my hat in the ring and begin the journey of identifying what altcoins fit my vision and in the process of discovery to make it interesting and fun. Even though there are many altcoins, very few really focus on what I consider really important for their survival, and that is consumer/merchant adaptation. One of these coins I came across is Viacoin, I took the opportunity to review their effort and came to the conclusion that the Viacoin team must have come to the same conclusion as I have, its better to build a coin that merchants will comfortably accept rather a speculative coin that has volatility and potentially no long-term future.
Viacoin the Merchant Choice!
I’m of the opinion that all altcoins are grasping around for users and merchants which will accept their coin. To achieve this, altcoins have to create a relationship which will reward the merchants who accept their coin. Persuading a business to accept a coin which they do not hold may be much more difficult than also offering that merchant a small stake in the coin. I see more than one solution, but I will refrain explaining them in this discussion. One major issue all coins have is the ability to be mobile for consumers to use. You can hardly expect a merchant to accept altcoins when most people only have singular wallets in their devices. So the journey took me to a new rabbit hole, I created the concept of UberPay not just as a wallet, although few others similarly exist, the idea was to create a multi-coin wallet, an ‘Uber’ moment in a multi-coin wallet, something that consumers can use as part of their day to day shopping and interact with Merchants.
Ultimately altcoins without a niche will struggle long term in a saturated marketplace. Added to this is the importance of both online and consumer community, the second most valuable piece for a strong altcoin. My vision is to create the tools that will help altcoins like Viacoin to expand the consumer/merchant adaptation into the future.
Will there be other altcoins like Viacoin?
I am sure the answer is yes, untimely some will separate themselves from the altcoin pack. Until then we all wait with anticipation, excitement and continue on the journey down the rabbit hole and the magical world of Altcoins!