This idea is looking interesting I would like to get some info about dev team which is really important factor to know about them who will take our funds. I hope you will reveal this secret soon into this thread.
We will be revealing the team at a later date,
When exactly is that?
Is your name trademarked?
What makes you confident you'll be able to actually LICENSE the system to the store?
Also, this is how you win this game:
1. Get funds from Block.one.
2. Build an API for payments above EOS (think Request Network competitor). Then you build a decentralized exchange layer that will allow companies like Square to use it.
3. They remove their VISA/AMEX/etc handcuffs.
4. I can now buy things in the real world.
Thanks for the feedback!
The team will most likely be revealed when we finish the presale. Some funds from the presale will be used to hire an attorney on retainer (crypto-attorneys are not cheap unfortunately) who will advise us on if there are any illegalities or caveats which will get us in trouble. We will remediate anything that can be a detriment both to the company and to the team, and then release the team info.
The licensing issue: Our vision is to have both an app and a POS for merchants (the app will obviously not be able to print receipts). We wont necessarily need to license a POS to them. As for why they would use it, there are a few reasons: cost savings (our fee is 1.5% (not finalized) vs Square's 2.75% plus 30 cents, or traditional credit cards which are 3%+) as well as reduced fraud (no chargebacks). In essence, imagine a 1% revenue boost to a large chain like mcdonalds, macys, best buy, or 7-eleven who do millions in sales per day. The numbers (and savings) begin to add up quick.
We keep hearing about getting funding from block.one - we are not against the idea and we will look into it depending on how the ICO goes!
We already have the API on our internal roadmap. We will be building Magento, Shopify, and Wordpress plugins which will run off of our API ;] But making a DEX is an interesting idea, thank you!
Let us know if you have any feedback or criticism, we are always looking for new ideas.