Byteball Use-a-Thon: Byteball - Bytes As a new method of payment in venezuela - Report # 1

In the first post I talked about how byteball could improve many aspects of the payment system in Venezuela

In this report I will talk a little more about how to apply the plan and make it self-sustaining over time.

Also I will show you the first local of food and charcuterie that officially accepts Bytes as a method of payment.

I consider that is needed to make an injection of money because cryptocurrencies are something new and many people simply do not know about this topic. I know that just testing the application will make them fall in love with the speed and ease of payment.

But they can not "test" the application without money inside. So you have to give people a little bit so they can try it, even $ 1 would be enough to have alot of people willing to try it. And I know that after that, it will only be a matter of time for people to tell their friends / relatives and spread the word.

To achieve this "injection of money" I asked the Byteball Slack community and to my surprise many were willing to help ❤ I managed to raise $ 12 in a matter of minutes, which will be sent to the people so they can test the app!

Thank you byteball community ❤

But the most important part is that we need merchants / shops that accept receiving bytes as payment method

and that's where all the work is.

After the first post several people asked me: hey there are many merchants that accept crypto in Venezuela?

And the answer is: no.

It needs someone (me) to approach the businesses and "sell them" this new method of payment. Explaining how it works, and how it could benefit them in the business and also "train" employees to work with this new method of payment.

I had already managed to convince 3 previously speaking with them but when i approached them this week and explained everything, only 1 was willing to accept bytes, so with this bussines we will start working.

It is a store selling food and charcuterie. Perfect to start!

Having shops that agree to aceppt pay bytes for food or the items that people need on a daily basis, will increase the chance that people will use the BYTES, because it is being useful.

Del Este Delicateses accepts officially bytes as a payment method.

And this is their wallet address: J6O6MQX5I7XVMUVQPNIVE4ELO27F732C

If the store owner needs the Bolivares immediately to buy more merchandise from the suppliers, he can easily sell the bytes to @capybaraexchange at https://capybaraexchange.com/, who by previous agreement told me that he would give a special promotion to the owners of the businesses.

Now, to make money circulate through merchants -> people sustainably, i have come to a solution:

1 ) Enroll merchants in the Byteball Cash Back Program. That basically return to the clients the 10% of the total amount of the purchase to customers if they pay in a shop that is registered in the program.

This will lead to people prefer to use their bytes in this business than in any other that does not return the10%. Increasing the shop sales.

2 ) These merchants could sell the bytes collected in their business, with a 3 - 5% commission (which will be their "profit" for selling bytes in their shops). Taking into consideration that customers will have returned the 10 % of the total amount of the purchase. A percentage of 3 - 5% is really low.

In this way we manage to ensure that the money circulates sustainably inside the city and that it is not taken out to the exchanges.

In the next post of byteball a-thon I will report on the experience of the merchants accepting bytes and of the people paying with bytes, to see what they thought and what recommendations they could give to improve everything.

I will also be working to get more businesses to accept bytes as a method of payment, this was just the beginning.