I've looked at the MVP again, thought there might be an update. But apparently there is none.
For this I have discovered how easy it is to add new products to the blockchain, just fill out this form:
http://hyperledger.vanig.io:3000/productlisting/add-product.htmlPrice is again only in Vanig, I'm curious if ever a price will be given in Fiat?
Vanig team should provide Fiat option as well. Not everyone will use crypto currencies for buying products.
im pretty sure that they said that it'll only ever be available in Vanig tokens at the start, which is what will bring in the constant demand for the tokens in the long run.
That is a very smart move i think Vanig team has also thought about that and that is why they decided to start wit Vanig Tokens, but can we expect fiat payment in the future?
I am not sure how will they tackle to volatility of the token since usually supplier need a stable currency to be able to trade. For example the supplier is selling a dress for 100 Vanig tokens that say equates to $100. The cost of the dress (cloth, sewing..etc) is say $80. the supplier sells and 10 days later someone pays the 100 Vanig tokens and now the 100 Vanig tokens equate to $70 due to some drop or bear effect on the market. The supplier is at loss now.
That's why I think they should introduce another token, and run a two token approach.
Token 1 can be used for purchases on the platform, and it will be pegged to a value in local fiat currency.
Token 2 will be the ones that are currently being sold in the ICO, their purpose will be a store of wealth that can be traded and used on exchanges.
Investors could convert Token 2 to Token 1 to use on the platform at a reduced discount compared to buying in with fiat.
I know it complicates matters, but it's true what Ibininja said, the markets fluctuating could put a traditional business in debt if the markets were bearish for a long period of time.
I agree. Token price fluctuations will cause lot of issues if someone wants to buy products from Vanig platform. I think someone can check with Vanig team, during next AMA session