8Pay AMA Summary – 8PAY
On July 9th, 8Pay hosted an AMA on its native subreddit to answer the questions from the community regarding the product, the team’s vision, and its development. If you missed this event, you can find a summary of the AMA below. Moreover, we will be hosting more AMAs on Reddit, Telegram and Cent, so make sure to tune in if you have any questions for the 8Pay team!
Do you think that we’ll see a significant growth of people willing to use crypto as a medium of payment? Do you expect this kind of payments to be more in demand in the future?
We expect that as the popularity of crypto increases, the demand for crypto payments is also expected to increase. There are existing businesses (especially the ones that work in the blockchain industry) that might be interested in recurrent crypto payments, so we think that demand is there and that it will be steadily increase as time passes. We want to make sure we’re there to provide the service.
Will payments only go through Ethereum?
Payments are going to be done via ETH and a few selected ERC-20 tokens (such as 8Pay tokens or stablecoins). However, if you meant in your question whether we will be using other blockchains rather than just Ethereum blockchain, we are looking into this option and will consider it if there will be enough demand for it.
I Came here from /r/CryptoCurrency, there is a lot of FUD circulating regarding Ethereum Network at this point, mostly about the fact that the network is not scalable at all. Do you think that it’s false and you can build a project such as yours on top of Ethereum and make it fast and scalable?
As we see it, Ethereum is working hard on improving scalability and also moving from PoW to PoS. In the next years Ethereum 2.0 will be out to solve those issues and we expect gas fees to be lower as well. This will make Ethereum more suitable for everyday use and by that time we can see 8Pay being a well known alternative on the market and to grow even more.
Does 8Pay have any partnerships at the moment?
Unfortunately, we are unable to make that information public, but we recommend subscribing to all of our official social media channels to stay updated about the project and get updates about the partnerships through our announcement channels.
How does 8Pay plan to market the product and expand in the future?
We are working on several fronts regarding our marketing. We are working on B2B marketing to get meaningful partnerships with crypto and non-crypto companies. Beyond that, we are working on a B2C front to market our product to prospective customers in the space.
When will the whitepaper be released?
We stated that the whitepaper release is scheduled in the coming two weeks.
What is the benefit of using the native token other ETH or any other ERC20 token?
For payments, there is no particular benefit in using the 8PAY token over ETH or any other ERC20 token. The real benefit is in owning and staking 8PAY tokens since part of the fees collected by 8Pay will be redistributed to the stakers. The higher the transaction volume, the more you earn with your 8PAY tokens.
The 8Pay team wants to say a huge thank you to everyone who attended the AMA. We had a very positive experience with that event and we are planning to host more AMAs and engagements with the community in the future. So stay tuned!
Published at Sat, 13 Jul 2019 20:58:59 +0000
Bitcoin Pic Of The Moment
@BitcoinFair Looking for Satoshi Nakamoto and おいしい ramen… #bitcoin #bitcoinfair #mtgox
By Kevin Krejci on 2014-02-06 21:12:03
