Q&A Vol. 1 | Konios Project | Hotspots
This is the first in a series of questions and answers about the Konios project. In the first episode we dedicate ourselves to the topic “Hotspots”. The questions are compiled from the community conversations, inquiries and internal findings. The Konios team members involved in the development of the platform will answer the Q&A series in the form of an interview according to their area of expertise.
Definition:
On the Konios map and list view, places are published that are considered safe trading places. The Hotspots are fully verified Konios platform members. These can be companies, shops or private persons. A fully verified hotspot guarantees a secure and reliable source to exchange cash for crypto currencies.
Interview with Waldemar Nickel, Konios Platform Developer.
Q: Waldemar, can you explain the function of the hotspots in such a way that someone who doesn’t know your project yet understands it?
A: I’m sure you’ve been to a kiosk before. You can buy lots of cigarettes and sweets there. Wouldn’t this be an ideal location to change cash into crypto currencies with one click? That’s a hotspot.
Q: Who are these hotspots for?
A: We differentiate between different groups and regions on our platform. It is not possible to lump all users in the same pot, as different behaviour patterns apply depending on region, living standard, political situation or purchasing power. In certain regions of Africa, even a kiosk is not necessarily a secure exchange point, but in Munich it is. In Switzerland, a private crypto enthusiast is willing to exchange more cash with someone from the local area than, for example, in China. Accordingly, we have split our hotspot plans according to the criteria mentioned above and will enable the hotspot on the basis of different conditions. Basically we see the use of the hotspots by those users who do not want to meet with private users.
Q: Why should someone who holds crypto currencies sell them via a hotspot and not on an exchange platform?
A: Now on the one hand we have to differentiate between the Exchange platform which requires a bank account and our platform which allows an exchange without the necessity of a bank.
2 billion people have no access to financial services such as a simple bank account. For many people, the Exchange platform in the traditional sense is no longer needed.
So anyone who already owns crypto currencies and now, for whatever reason, wants to exchange them for cash, has a clear benefit on our platform. The advantage of operating a hotspot as a user is the market price.
The market prices, which are standardized on the platform depending on the region, will be slightly higher than average for hotspots. This provides the hotspot operator with an additional incentive to offer a secure exchange point on the Konios platform.
Q: How can we imagine such an exchange in practice?
A: The process is a bit easier than a regular F2F exchange. The security-relevant processes required for an anonymous exchange can be reduced at the hotspot and enable an even simpler type of exchange.
So you can pass by during the regular opening hours of local hotspots, exchange cash for crypto currencies with the Konios platform and vice versa without making a meetup appointment. It’s that simple!
Q: Thanks for your time, now at the end we want to know why you joined this project?
A: I think the idea is brilliant. Providing people with basic access to crypto currencies is one of the fundamental requirements to be met. Otherwise the crypto currency cannot assert itself in the masses. The exclusion of many people who are blocked by regulations, is beyond acceptable. With our platform we would therefore like to find a new way to quickly promote accessibility while complying with local laws.