Few days back, I got to know about steempay.co by a friend who shared to me the advantages and its impact in developing countries and Africa in particular. Steempay.co is defined as a new innovation technique aiming to ease transaction to people within the steem blockchain technology. It was brought due to the need and the barriers that people encountered to buy and sell their commodities while using the steem backed currencies either steem or steem dollars.
My new steempayco account
This idea looked new and great to the community and especially those located within developing countries. In otherwords, most people tend to withdraw their tokens to purchase particular products by first changing them into fiat currency and then buying. Meanwhile, they encountered charges from the exchanges and required a certain amount of money by the local blockchain exchange companies.
Steempay.co came to break barriers to that and simplify business among the people. It links the buyer and the seller and provides ways to satisfy the both sides as one pay for the commodity and an other supplies the commodity. The steem currency will be the basis for all transactions which will be used as a unit of value and a measure of exchange among the two sides.
Furthermore, the simplicity lies in a way that if a person wish to sell a sachet of suit and an other one willing to purchase, then both sides will have to make transactions using their steem or steem dollars by showing the barcode QR code for that particular product. This innovation technic looks great and will too boost the steem community to keep the currency within the steem circle but also promoting cashless transactions.
If we are to consider making transactions, then Steempay.co would be a better choice to do so. Steempayco will have greater impact especially to people with low income in developing countries. These countries still use the fiat money as a medium of exchange with could be not only a risk to the buyer but also the seller. People involved into cashless transactions, specifically with steempayco will have to experience a relief and the encouragement to build the steem blockchain.
Thus, Uganda will be gladly welcome this project and we believe that with time hundreds and thousands of people will be able to join and make steempayco their daily market. If Amazon, Alibaba and other online market made it, then we believe that with the development of the decentralized world, steempayco will have a greater place to conquer the world in the future.
In conclusion, community meetings and trainings will be held in Uganda so that the local steemians get to understand slowly the steempayco functionality, impacts and advantages within the community and the world in general. The power of people lies in their ideas to solve a particular problem and I do think steempayco has done it to easy transactions within the steem community and taking the large part of the world into a cashless transaction system built on a decentralized steem blockchain.