> aren't useful as an investment
Correct. We do NOT plan to use vouchers as a fundraising mechanism, and they are not tradable, and even more - they expire. Otherwise it may cross the line with strict application of Howey test (any tradable utility token, especially if used by a single party as development funding, is likely to be considered a security), and we don't want these risks.
We are exploring other funding models, such as grants, private investments and community crowdfunding - it will all be announced next year once the plan crystallizes.
> I'm not sure this is the best solution.
That is correct, but what we like about it is that it fits a very widely used regulatory framework - prepaid telecom cards. So we are doing a technical innovation without regulatory risks, which is rarely possible.
We are always open to better ideas, as we don't see any simpler design that achieves all the stated objectives:
- zero trust
- revenue sharing between operators and "network"
- unlinkability of purchase and usage
- no (or limited) transferrability
- expiration
- ability to purchase via in-app and credit part payments without being a cryptocurrency exchange (as they are prepaid telecom cards).
- probably some others
> it's difficult for a lot of users to understand what it solves and why.
Agreed, but we aim to make it completely hidden from the users and make it possible to use Community Vouchers (aka Community Credits) without touching / knowing about blockchain.
So there won't be requirement to use a crypto wallet at some point of product development - at least that is the objective we are working to:
- user can buy Community Voucher via in-app payment (yes, with some draconian commission, but it's worth it anyway as it would increase donations to communities - about 50% of app users even today never used cryptocurrencies, and for all potential users it's even bigger share)
- user can then donate it to their community of choice
All that within the app, without any technical way to link voucher purchase to community donation, thus preserving participation privacy.
Correct. We do NOT plan to use vouchers as a fundraising mechanism, and they are not tradable, and even more - they expire. Otherwise it may cross the line with strict application of Howey test (any tradable utility token, especially if used by a single party as development funding, is likely to be considered a security), and we don't want these risks.
We are exploring other funding models, such as grants, private investments and community crowdfunding - it will all be announced next year once the plan crystallizes.
> I'm not sure this is the best solution.
That is correct, but what we like about it is that it fits a very widely used regulatory framework - prepaid telecom cards. So we are doing a technical innovation without regulatory risks, which is rarely possible.
We are always open to better ideas, as we don't see any simpler design that achieves all the stated objectives:
- zero trust
- revenue sharing between operators and "network"
- unlinkability of purchase and usage
- no (or limited) transferrability
- expiration
- ability to purchase via in-app and credit part payments without being a cryptocurrency exchange (as they are prepaid telecom cards).
- probably some others
> it's difficult for a lot of users to understand what it solves and why.
Agreed, but we aim to make it completely hidden from the users and make it possible to use Community Vouchers (aka Community Credits) without touching / knowing about blockchain.
So there won't be requirement to use a crypto wallet at some point of product development - at least that is the objective we are working to:
- user can buy Community Voucher via in-app payment (yes, with some draconian commission, but it's worth it anyway as it would increase donations to communities - about 50% of app users even today never used cryptocurrencies, and for all potential users it's even bigger share)
- user can then donate it to their community of choice
All that within the app, without any technical way to link voucher purchase to community donation, thus preserving participation privacy.