So, a fiat-backed cryptocurrency? Pardon my naivety, but isn't the point of crypto is moving away from fiat?
There were a lot of attempts to adopt Bitcoin-backed platforms for micropayments in general, and gifting services in particular.
A few common problems of cryptocurrency usage in daily purchases:
- Extra-high volatility.
- Transaction confirmation period is much longer compared to credit cards.
- High transaction fees even on micropayments.
- To reclaim the fiat value, cryptocurrency needs to be exchanged on exchanges.
Who would purchase a gift card if nobody can tell how much it will cost tomorrow? For example, you want to say thank you to your partner for a help with some business, so you are sending him a gift certificate for a dinner in a cool restaurant. Just imagine how angry he would be (and how it would be uncomfortable for you) if he visits the restaurant in a week and the waiter says that he needs to pay 30$ more by himself (because Bitcoin and all other cryptos lost 20% of value during last two days).
With such volatility the Bitcoin (Litecoin, Ether, Dash, ) is not an option for e-gifts.
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