For product under development one “brick wall” to progress is to select and offer a fungible store of value.
What is a store of value?
Should act like escrow but the concept is to sell object today and buy back on another date. This way the price can be changed to transfer value. The transaction costs have to be low. The object sold has to have comparable value so there is a fair exchange (fungible value) and is sold at the prevailing market price; if customer likes to sell object someplace else then that is his choice. The "value" to customer comes on the later date when the object is bought back at a different price, say higher. Restricted only to objects purchased from us; so need to detect counterfeit
RESTRICTIONS
Don’t want to collect deposit as this is what banks do (and for many reasons we don’t want to be a bank)
Don’t want to hold custody as this is what trustee do (and for many reasons we don’t want to be a trustee)
Initially thought of object being a minted gold coin but the transaction costs are high and there is problems with identity. We don’t want to be buying gold coin we did not originally sell because the object is not the real product; only a store of value.
The lowest transaction costs is some form of digital money (e.g. Pyapal) Is there some other digital store of value?
Edit:
The valuation should be consistent
The object should be fungible for the mainstreet average person
The value of the object should either be somewhat divisible or be in small enough denominations e.g. $1,000 or $10,000
A bank CD comes really close but still fail because we are not (and don't want to be) a bank
Thank you for your comments
What is a store of value?
Should act like escrow but the concept is to sell object today and buy back on another date. This way the price can be changed to transfer value. The transaction costs have to be low. The object sold has to have comparable value so there is a fair exchange (fungible value) and is sold at the prevailing market price; if customer likes to sell object someplace else then that is his choice. The "value" to customer comes on the later date when the object is bought back at a different price, say higher. Restricted only to objects purchased from us; so need to detect counterfeit
RESTRICTIONS
Don’t want to collect deposit as this is what banks do (and for many reasons we don’t want to be a bank)
Don’t want to hold custody as this is what trustee do (and for many reasons we don’t want to be a trustee)
Initially thought of object being a minted gold coin but the transaction costs are high and there is problems with identity. We don’t want to be buying gold coin we did not originally sell because the object is not the real product; only a store of value.
The lowest transaction costs is some form of digital money (e.g. Pyapal) Is there some other digital store of value?
Edit:
The valuation should be consistent
The object should be fungible for the mainstreet average person
The value of the object should either be somewhat divisible or be in small enough denominations e.g. $1,000 or $10,000
A bank CD comes really close but still fail because we are not (and don't want to be) a bank
Thank you for your comments
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