Re: [ANN] Elitium - A Digital Economy to Lead a Life of Independence, Value & Growth
Great question.
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I am not sure how will these regulations change over a short time span (one or two years, I mean), given that these countries are quite strict on money regulations. Yet at the same time, mass adoption of emoney and fintech brought a huge force that's almost impossible to resist.
In other note, wouldn't it be easier to attract people if you sell your product as an app? There are a lot of cashless transaction providers that didn't offer a card, they simply require the user to download an app, top it up with some credit, and the service is ready to use. No need to wait for a mailed card etc.
Given the current situation everyone is facing as a whole, we can foreshadow a cashless economy in the future.
It's not only a card, but our app is a major focus. A solid UI/UX is imperative when it comes to acquiring users (and to keep them!). If there is anything we've learned from the ICO boom to this DeFi wave, positive user experience comes from a workable, clean UI and results in driving user adoption. It follows that meme of the horse drawn 3 different ways representing the whitepaper, production, to the MVP.
Although contactless pay like Apple and Android pay are great, you still need a physical card. Virtual cards are great, but there are some security risks in having them. It's like having a Ledger VS a Coinbase wallet (kind of). The Ledger remains more secure as you carry your keys physically versus in a centralized cloud from a major provider.
Some countries, esp in Asia, have not adopted contactless pay. However, with the pandemic rising, everyone simply wants to exchange hands-free, which could result in the adoption of contactless payments. Time will tell.
Apps are important and our key focus will be around our UI/UX. We will also carry a virtual wallet that aims to launch around Q1 2021.
