Going through your whitepaper and I can see how promising this project is going to be. I love the idea of having the tax refund converted to the local currency of your choice or any other types of cryptocurrency. It shows how flexible this platform can be as they make sure that what you got from the refund would not be wasted but be worth it. However, I saw that there is a limitation when it comes to the currencies it caters to. I wish that as this project progresses, they would allow exchange of EBCoin to other currencies aside from what is stated like PHP since most of us enjoy traveling in the countries where EBCoin is going to be established. Wishing this project all the best as I know it will truly be helpful to many!
If they would decide to make those limitations gone i bet it would really be hard to implement such thing knowing each country do have its own decisions on adopting some new exchanging features but how we do wish that it would really be seen on this project and should be established even more.
Point taken and understood. It can truly be complicated since it is understandable that their focus is on those countries that implements tax refund. I do believe in the abilities of their team and I know that as they go along, they would be able to make this project expand and cater even more countries!
They have mentioned in the Op post and site information clarify us. As of now they are ready to support the 34 countries. I am personally not aware tax refund works but noticed that this is really helpful for the tourist widely. Each of the country have the own tourism ministry right! If they are going to implement they just to get the auth from the concern country. Am I right. Please explain me this.
Yes. The implementation of EBCoin will have to be done on a per country basis. This is needed, not just for authorization, but also because each country's tax refund system works slightly different.
Remember though, that even if a specific country does not agree to their customs using EBCoin, EBCoin will still be able to be used as a payment method for participating duty-free retailers. These contracts will be negotiated with the merchants and the payment gateway service providers in that specific country.
Further than that, partnerships with local FOREX services who have kiosks in airports can also be done regardless of customs integration. That will enable the local conversion of EBCoin to FIAT currency.
So, in other words, even without customs integration, the EBCoin platform still has many uses for the international traveller.