This SmartCash overview blog post will focus on SmartCash Spending. It will look at the ways to send SmartCash and then analyse why SmartCash is faster and cheaper to send than for example Bitcoin. By developing a parallel economy through Spending SmartCash, both consumers and merchants no longer have to worry about rampant inflation of their native fiat currency.
With such a huge part of Satoshi Nakamoto's original vision for Bitcoin giving people in the developing world, without access to traditional banking services or affected daily by currency depreciation caused by economic mismanagement by corrupt governments their own financial control, cryptocurrency should be designed to be spent. With a truly decentralised and secure network of SmartNodes, insignificant fees and lightning fast transaction speeds, SmartCash is designed to be spent.
SmartCash Spending
With the mission statement of SmartCash being that under a decentralised governance system, a cryptocurrency can have a viable, fungible, fast, merchant oriented, user friendly and community driven purpose, you can see that SmartCash is designed for spending. SmartCash doesn't want to be a useless, buy and hold cryptocurrency, it wants to help create real social change in the world by being a fast, spendable coin that will change people's lives.
So many of us here in the cryptocurrency space come from first world economies such as Australia where we really have no reason to worry about rampant inflation or a corrupt government seizing control of our funds from a state dominated banking system. But that certainly isn't the case for a huge part of the developing economic world. Take what is happening right now in Venezuela as an example of government corruption ruining an economy and making regular citizen's savings all but worthless overnight.
Cryptocurrencies have a huge role to play in the day to day spending economy of country's like this and SmartCash has already established quite the presence. We see Venezuela as a really interesting test case for what an economy could look like if cryptocurrencies are spent day to day simply because they are more stable than their own fiat currency. Real world SmartCash spending, leading to actual social change. Amazing to see!
SmartCash Wallets
So how can you spend your SmartCash, we hear you ask? Well there are of course numerous ways, but they start with you taking control of your Smart in a SmartCash wallet. You can find multiple ways to create and access your own SmartCash wallet via the official website. You'll have an address, a username and of course total control over your private keys.
There are numerous options at your disposal for creating a SmartCash wallet, with the most popular being the web wallet. There are however safe options such as desktop wallets that you can download onto your own secure PC, paper wallets and even options for a brain wallet where you simply remember a random sentence that correlates to a string of letters and numbers when decoded. This one is a little too crazy for us, but it is as secure as you're going to get!
SmartCash makes spending and transferring a breeze, thanks to having the ability to send to a username, rather than having to worry about correctly copy and pasting someone else's wallet address string of letters and numbers. By simply typing someone's username into the to address that you wish to send to, it removes a huge psychological barrier to spending cryptocurrency and makes SmartCash a leading candidate for day to day adoption.
SmartCash via Email
SmartCash even allows you to spend SmartCash if the person you are trying to send to, doesn't yet have a wallet of their own to accept SmartCash as a payment method. All you need to send SmartCash is an email address of the recipient or if you want to get really simple, you can even just give them a direct link.
From here, the recipient of your SmartCash has the ability to follow the simple instructions to create their own wallet to immediately receive the payment into. SmartCash spending is lightning fast remember and there aren't any ridiculous waiting periods as more barriers to spending.
Keep in mind that if the SmartCash you have sent is unclaimed after a seven day period, then it's simply returned to you. This takes away any worry you may have about sending to new merchants or to friends who are new to cryptocurrency and might simply forget or put setting up their own wallet into the too hard basket.
SmartCash Merchant Adoption
But while using a personal wallet is convenient for simple SmartCash spending and sending to individual's accounts, the real ability of spending SmartCash comes after true merchant adoption.
In the devlopment pipeling, SmartCash has InstaPay to come and will play a key role in allowing instant point-of-sale purchases both in store and on line. No waiting around for confirmations, no questions being asked. Just instant transactions on the spot allowing for a seamless SmartCash spending experience on both the customer and merchant sides. Unlike the current systems used by Visa/Mastercard, SmartCash InstantPay will make widespread adoption simple. Exactly what SmartCash is trying to achieve.
Finally, SmartCash has developed what they are calling the SmartCard. Not to be confused with other cryptocurrency cards that are simply just pre-loaded cards using the current Visa/Mastercard fiat currency system, but instead using a true crypto to crypto payment system. This of course means that the merchant must have a terminate and internet connection to accept SmartCard payments, but the customer needs only the card. Not for example, their phone connected to the internet so they can access an online cryptocurrency wallet. If ever you've had no phone reception while trying to make a payment via crypto, then you'll understand the advantage that this will provide. Especially in the developing world.
SmartCash Australia | smartcashau
SmartCash is a community governance, privacy & growth focused blockchain based currency and a decentralised economy.
