To create a universal Smartcash POS system with an automated liquidation to merchant’s local currency providing fast and smooth Smartcash payment for goods and services while safeguarding merchants from volatility. To empower 200 merchants in both Nigeria and Ghana with Smart on sale solution.
I’m Oluwatobi Akinpelu. An entrepreneur and reputable programmer with about 7 years of experience in web and mobile development. I lead the Phalanx team which won the first angelhack(http://angelhack.com/angelhack-lagos) hackathon in conjunction with Consensys in Nigeria. I have worked for Google Developers Groups and Andela programs here in Nigeria for over 3 years. I currently work as a software engineer with Farmcrowdy – the Africa’s best digital startup in Africa 2018, while also having vast experience in smart contract development, Machine learning with Firebase, Media players and livestreams SDKs.
I also currently lead the forloop’s developers community in Ogun state, Nigeria, while also being part of the Blockchain community in Nigeria lead organized by reputable companies like Paxful, Seso global and uPort.
I have a solid experience in managing teams and being part of product development from start to finish. You can know more about me here: Linkedin profile: https://www.linkedin.com/in/androidmaven
The primary reason why merchants are reluctant to accepting cryptocurrency generally is because of volatility of cryptocurrency. A buyer could buy a good/service in a minute, pays for it using Smartcash and the next day the value of Smartcash to fiat has either high depreciation or appreciation. Merchants may to lose valuable funds especially when liquidation is needed at a point when the value of Smartcash has depreciated.
We made a recent phone call survey to 50 merchants across Africa having clothing lines, restaurants, pizza shops, shopping malls and hair styling businesses to validate our hypothesis. 90% i.e 45 merchants out of 50 are willing to accept Smartcash, 42 merchants out of the 45 however raised the issue of volatility and how having to manually liquidate often could be strenuous and less efficient.
This shows that until we are able to solve the problem of crypto liquidity on behalf of the merchants, mass and genuine adoption might still be far way.
As of now
NO PLATFORM OFFERS POS SYSTEM AND SAFE GUARDS VOLATILITY.
OTHER BLOCKCHAIN ECOSYSTEM OFFERS JUST POS, no liquidation assistance.
In other to solve the problems highlighted above, we’ve started working on a POS software which allows buyers in any country to pay for goods and services using Smartcash and merchants can choose either of the following
a. Merchants can receive Smartcash directly to their own wallet, and on that same be able to liquidate to fiat currency with just a click. A barcode will be generated which will be used to transfer the Smartcash to our address, on confirmation fiat currency will be released to the bank account provided by the merchant.
We will partner with exchange sites in both Nigeria and Ghana who will provide APIs for fast liquidation.
b. Merchants can choose to receive Smartcash directly to their own wallet at the point of sale and decides how it is being spent, liquidated or exchange at their own will. This works basically LIKE A NORMAL POS SYSTEM.
Merchants can choose to liquidate all funds, or store up Smartcash at the point of sale.
It also gives database integration of all transaction taking place, so that merchants can have a log of all transactions in their own customized database starting from the fiat value and Smartcash of the good/service to be paid for, Smartcash paid, and the fiat value that was disbursed after an automated liquidation. These is useful and important to keep track of all records and for analytics purposes.
**WHAT WE ARE BUILDING.**
We are building Smart on sale. Smart on sale is a Smartcash universal point of sale system able to safeguard merchants from volatility by providing automated liquidation. Smart on sale will be available on the web and android.
Smart on sale, is for all types of merchants. Starting from the big shopping malls to the mobile business owners. The POS system is usable by merchant in the world, while the liquidity enablement is supported for only Nigeria and Ghana at the moment.
Merchants can simply visit or download smart on sale app, register or login the business, enter business’s payment receiving details and start receiving payments using Smartcash. Custom integration will also be available for big companies who prefer a privatized integration of transactions database.
IMPACT TO SMARTCASH
Nigeria and Ghana alone has over 200 million population and over 96% users of smart phone are on Android. Safeguarding volatility and liquidation for merchants in these areas can provide a massive adoption of Smartcash. The increased merchant acceptance of Smartcash will lead people worldwide or in accepted countries to buy and keep buying more of Smartcash on exchange so that they can now purchase goods and services using Smartcash therefore leading to a massive appreciation in Smartcash’s value.
IMPACT TO MERCHANTS AND BUSINESS
Over 10 million of merchants and businesses globally will be empowered by Smart on sale. Smart on sale respects your privacy. No personal information is required to set up an account. No government tax IDs or hocus pocus paperwork need be submitted. No photographs of you standing with signed documents. Just email, password, and a payment receiving details. It’s really that simple.
Merchants can now easily receive payments using Smartcash cryptocurrency without the worry of volatility. Whether in the office, shop or public transit – Payment can be made using Smartcash while safeguarding volatility!
MERCHANTS AND BUSINESS THAT CAN USE SMART ON SALE
All business and merchants can use Smart on sale including
· Gas Stations
· Grocery Stores
· Farmers’ Markets
· Rental Properties
· And More!
EXTRA THINGS INCLUDED IN SMART ON SALE – Analytics and more perks
A painless on-ramp for merchants, including video and text-based user-guides, online FAQ, and ongoing customer support for Smart on sale merchants. Relevant guides will be cross-posted to Blogs and press. Real-world economic data showing and tracking Smartcash’s use as a currency. Including b
How many transactions did smart on sale process this month?
How much Smartcash?
How much USD?
How many businesses?
OUR PLANS FOR ADOPTION STARTING FROM AFRICA
Trainings and events on Smartcash adoption across Africa.
Partnerships with SMEs.
Partnerships with Smartcash ambassadors to expand and execute adoption.
A. Product development stage:
Hiring of front-end developer (2 months) - $2800.
Hiring of Backend developer (2months) - $3150.
UI/UX wireframing for both web and mobile and will also handle graphics designs – $750
Android developer – $3200.
Quality assessment tests (1 month) - $800.
Domain registration and hosting plan for 1year on namecheap (www.namecheap.com), including Positive SSL - $39.43
Mailchimp email Pro (3 months) - $597.
3 Hardwares for testing(Android phones and tablets of different OS versions and screen sizes): $520
B. Product testing and release preparations stage
Team setup and contractual compensations for 3 months:
1 Platform developer and technical support - $400 per month for 3 months = $1200
2 adoption advocates - $350/month/advocate for 3 months = $2100
2 customer support - $350/month/person for 3 months = $2100
Transportation costs of adoption advocates: $350.
2 laptops, work desks and landlines for customer support – $415
Internet data subscription for customer support and calls credits for 3 months - $212
Merchants training/event for adoption - $700