Original Videohttps://youtu.be/hr4U4wCByRQOverviewFairly small company that does Point-of-Sale systems (software and hardware)Has some major customers: Twickenham Stadium, Wimbledon, Ascot Racecourse, British universitiesBased out of the UKHas integrated Nano with their point-of-sale systemWhy Nano?Bitcoin doesn't make sense for day-to-day purchasesBank cards have set the expectation for payments at 2-3 seconds with very modest feesNano is nearly instant, feeless, and a public ledgerUsing a decentralized ledger has some legal/regulatory advantages over traditional centralized systemsPoint-of-Sale SystemThey don't run a node on individual terminals, they host their own company node and their services interact with thatPrivate keys are never touched (doing so is legally challenging)Merchants generate a pool of accounts/public keys - Kappture keeps a record of these and monitors them for activityCompletely native integration (fiat + Nano)Merchant receives Nano instead of fiat because it's near instant and feelessCompanies decide what to do with Nano after that - Neil mentioned using Wirex to cash out to pay bills if necessaryDemonstration at 6:15TimelineAlmost ready to ship, some QA left + v19 Nano upgradeStarting with higher education this academic year - closed loop, captive audience with some knowledge of cryptocurrencies. The universities could also sell some of the Nano they receive right back to their customersPrimary and secondary schools planned after that (parents loading money for kids' lunches)QuestionsDo you convert to fiat for vendors receiving Nano? Merchants receive pure Nano - they are not a fiat gatewayHow are accounts handled? Accounts aren't tied to PoS devices - merchants have a pool of accounts that connect to Kappture servicesFees? Competitive with other merchant services. Initial setup/deployment is expensive (large commercial system). They sell into large sites (400-500 machines sold at a time)Why Nano v19? Web socket support makes it easier to secure/integrateThis device sits on the counter, not currently implemented with vending machinesWhat about value fluctation? Still a problem, but merchants can convert to cover costs with fiat gateways (e.g. Wirex). Initial deployment is to universities because they're more willing to deal with new technology challenges like this. Also, in a closed loop system like a university they could sell the Nano back to customers.Will the university deployments be open for public use? Depends on university policies, but probably yesWhy use pool of accounts vs master public keys? Keeping away from private material. Merchants generate the public keys and Kappture uses those.Will you support other cryptocurrencies? It will be Nano end-to-end. The fees and speed are the big challenge for them since the majority of their purchases are coffees/sandwiches. Their whitepaper has more details on some of the analysis of other cryptocurrencies
Submitted July 28, 2019 at 12:04AM
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