Recent tweet about the future for Safex

https://x.com/officialdabek/status/1756246793158115430

Recently I posted this tweet in response to Safex. The reason for that post is that there was always a greater vision to Safex than where it began as a marketplace application built into the blockchain. The main theme, vision, and ethos of Safex is Privacy, Security, leading to Freedom.

We accomplish this through technology. To achieve this end we must take what has been built so far, and take it to the next level. In the vein I have been planning the future of Safex and where it will be to provide ever more value to the world than it already possesses.

I’ve opened this thread to discuss what’s next, and I am open to hear what others are thinking generally philosophically about the internet, blockchain, crypto, and the advancements in AI.

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Blockchain and crypto are here to stay. A lot of web3 hype has died down and people have been moving to AI since chatgpt became popular.

I think that hype will die down too at some stage, and AI will just become another tool that people use to do work more efficiency

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@znffal I think they are exclusive of each other. Yet society will always need to use currency, and crypto is the currency of the internet. That’s why so far, the mining curve was designed in such a way. So far it is proving to me to be successful.

When mining was very high, no one miner was able to dominate the collection, and then now as mining is low, people still sticking around get a shot at the supply getting introduced. So it has that Bitcoin effect of early adopters having an advantage.

The true advantage is in attention, and information. We are nonstop promoting mining and our presence, and it’s up to the people to see it or not and act accordingly.

Another increasing and then only decreasing block rewards. The marketplace is launched, and the emission curve allowed leeway to bring things online.

What I am suggesting, that from the start Safex has an extensive and integral future. The AI story arc is developing and our currency ought to be a part of it as well. Even as one of the additions that the ongoing roadmap will suggest.

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Looking forward to seeing how it all evolved, especially looking forward to reading the roadmap :slight_smile:

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One of the important developments I think is the mobile wallet.

The mobile wallet coupled with the V2 and the Big Box store will be a big adoption upside in my personal opinion. So far it is in the ideation and research stage, but I wanted to give an example of a package of developments that I think will thoroughly change the game for us.

I can’t tell you all how important it will be to be able to download the safex wallet to your phone. Over time as I travel and present Safex to many people, they ask about a mobile wallet, so much onboarding has fallen through for that simple reason.

What other ideas do folks have out there similar to what I described?

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QR code functionality in mobile wallet for sharing your Safex address (or scanning an offerID of a product on a webpage) :wink:

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That’s the design I had in mind. So V2/BigBox or other platforms publish products. The website aggregates the products, and you can add to cart. Scan your cart and pay from the phone.

This means you can clear your payment from your phone as well, generate QR code on your phone, and finish the payment on the app.

The current Mobile Wallet design does not include selling or buying in other senses.

One thing in this brief discussion, is that we can also have the phone app receive the momentary communication key for the order. I haven’t baked that in. Something to consider.

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Excuse my ignorance, would the wallet have to synch with the blockchain? Would that take up a lot of storage space on the mobile?

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My request would be to make the interface as user friendly as possible. Keep in mind not everyone is advanced on the technology.
Just be conscious that the door is somewhat closed for people that don’t know what you guys know.
The littlest consideration on your end makes a huge difference on this end for some of us users.
Thank you for the update, I hope you’re well.

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I agree with you entirely. The limited amount of times I saw someone using the TWM wallet, and seeing people clicking into empty space and other small quirky actions made me smile so big. This is how improvements come about.

The earliest wallet I made for Bitcoin and the Omni-Safex were easier because it is an interface we’ve been familiar and developing for years. This is all brand new, and the flow can only be perfected by literally watching people do it!

Thanks for that all important reminder!

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I think that what the wallet and the marketplace could have if possible is the ability to show worldwide currency rates for SFX.

I mean for the average joe living in “X” country they could select on the wallet app and the marketplace the currency of their choice according to their locations.

So again what I’m saying is when they open the app or wallet they see not only how much SFX they have but also how much “$$$” it represents, so that it becomes more natural and instantly know; "oh I have 150$ I can spend…

And same thing for the marketplace, when the average joe looks at items they will see 75$ - 100$ in their currency of choice etc.

So an extra layer on top that does the work to show the rates…

(It needs to be predominant at the front page and in big numerals)

So that the focus of the user will be on the upfront value.

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Cool part about that is, we have price oracles directly in the blockchain so we can always pull the price of SFX straight from the source :slight_smile:

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Yes if possible it would help to normalize it. It is what it is has long as the majority of people get paid their salaries in currency and not crypto, so an automatic conversion of SFX into currency numbers up front and center would be useful in my opinion.

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I could be wrong, but I was thinking it would be good to let people pay with the currency, fiat, of their country as well as the option to sfx. This could be advantageous in bringing as many folks as possible to Safex Market who are not yet comfortable with crypto, and they may never be.

But I wonder if this would require fiat transactions to be off Blockchain, not really what we want?

Or could there be a mechanism where anyone who only wanted to transact with fiat could, but opon remittance the fiat would automatically be converted to sfx and vice versa with the transaction occuring on Blockchain?

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This indeed would require that fiat transactions took place through a service that can facilitate the fiat, so a big lift, at least for now.

A third party could be set up to facilitate, say, a credit card transaction that then on the backend gets converted to SFX and the service clears the payment.

This would increase cost, but I happen to agree that it is a great idea to be honest. It is quite some work, the relationship, the coding; however, It could be an incredible way to onboard new people to use the marketplace, and maybe a “cash back” in the form of SFX for the user. A new way to save money that converts into crypto and in our case the greate Safex Cash!.

It’s an idea I like, though something hefty to execute, from my point of view, if someone is keen they could jump in on it.

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I’m no expert, but what came to mind is that if payed in fiat there could be a slight increase in the price of the items as compared to if the client chooses to pay with SFX. Nothing to drastic, but this could encourage to use SFX.
It needs to be clear and understood by the clients that the lower cost of using SFX is transferred to the price they pay and vice versa. “Save money use SFX today !” type of slogan…

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Some commercial enterprises, particularly gas stations, do charge slightly more for debit and credit card purchases when cash is not used. The added cost for using debit or credit covers the cost of the processing fees on the backend for the vendor, similar to what @dandabek was explaining in this thread.

In addition, folks that use cash probably won’t know or care much about crypto and the advantages of staking to receive revenue shares. But I believe that if all of these mechanics are explained upfront, they won’t mind spending a little extra for the convenience of using cash, especially if some purchases come with a (sfx) cash back reward! Hopefully they’ll be intrigued enough to pick up some sft. But if not, at least they’ll have some sfx that they can spend on the Blockchain, thereby increasing miner activity as well as the total pool of revenue share.

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I think you should clarify your use of the word “cash” ? (at least when you do the transition from gas station to online store)

You maybe mean “debit” since online store can’t use paper money…

Paying with “cards” any card is maybe seen as a convenience (don’t have to go to the bank and take out cash and carry cash around) so people are willing to pay a little extra for the convenience (at least tolerate it) But again for online you don’t have a choice to pay with a card, unless with Paypal that has fees also…

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Yes, when I say cash I actually mean paying with “fiat.”
Debit and credit cards that I was referring to are other ways to pay at the gas station pump, but the transaction is “fiat.”

Dan had mentioned, “A third party could be set up to facilitate, say, a credit card transaction that then on the backend gets converted to SFX and the service clears the payment. This would increase cost…”

The gas station example was meant as a similar type of third party transaction to illustrate how people can choose to pay with “plastic” or “paper,” knowing that they’ll pay a little extra for the convenience of using “plastic.”

I believe that most folks would be willing to pay a little extra for the convenience of transacting with “paper fiat” on Safex Market.

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Well only Dan and others can know if these 2 payment methods can be merged ?

I agree with providing the conveniences but unless told otherwise for me it would be like 2 separate payment methods ?

It gets confusing if everything is happening inside the wallet…

I will leave that to the experts :slightly_smiling_face:

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