As we continue to look for Mr. Coino... (exams will end at school soon)... here is an update to more interesting things:
The POS system for Coino is working fairly well. A little fine tuning is being done on the actual POS hardware and most of the work is now moving to the server backend for processing.
The POS system will accept two types of cards, chip and magstripe. While it doesn't have to use Coino as the digital currency on the backend, plans are that it will. The goal is to have a first batch of 100 machines as a small test roll out. The final price of those first machines will be $295US. Almost all of that cost is the machine itself. It leaves a bit of room to recoup programming costs.
The design is usable for private gift cards as well as more widespread digital currency. In that way, the POS machine is a good investment for a retail business even if they aren't sure they will see much traffic from digital currency.
We plan to offer the machines as well as cards. The simplest/cheapest cards will be the magstripe. Chip cards are more expensive but generally you would keep them some length of time so the investment is more worth it.
The goal is to have the backend tested to the point of processing a transaction on the block chain as well as internally with the fixed value cards. Once thats working well, I'm going to post video of it and links to the transactions onchain, etc and see what the interest is in the system.
I posted a pic of this a while back on the Coino Forum, but incase readers here didn't see it... the POS machine looks like this:
The POS system for Coino is working fairly well. A little fine tuning is being done on the actual POS hardware and most of the work is now moving to the server backend for processing.
The POS system will accept two types of cards, chip and magstripe. While it doesn't have to use Coino as the digital currency on the backend, plans are that it will. The goal is to have a first batch of 100 machines as a small test roll out. The final price of those first machines will be $295US. Almost all of that cost is the machine itself. It leaves a bit of room to recoup programming costs.
The design is usable for private gift cards as well as more widespread digital currency. In that way, the POS machine is a good investment for a retail business even if they aren't sure they will see much traffic from digital currency.
We plan to offer the machines as well as cards. The simplest/cheapest cards will be the magstripe. Chip cards are more expensive but generally you would keep them some length of time so the investment is more worth it.
The goal is to have the backend tested to the point of processing a transaction on the block chain as well as internally with the fixed value cards. Once thats working well, I'm going to post video of it and links to the transactions onchain, etc and see what the interest is in the system.
I posted a pic of this a while back on the Coino Forum, but incase readers here didn't see it... the POS machine looks like this:
Is this POS for coino only or will it be good for multiple coin types?