We, at OffChain Luxembourg, believe strongly in an upcoming crypto-led evolution (not "revolution"). An evolution of our societies and economies.
But the beginnings are always difficult. Old habits die hard and existing infrastructure works quite well ... most of the time.
For crypto to make inroads, people who know nothing about it today will have to agree to give it a try. One of the occasions when that could happen is for everyday payments. But why would a normie, today, accept to bother with paying with crypto in Europe?
This is the question I set out to answer hereafter.
It's about learning. One learns as long as one lives
Crypto is the “new game in town”. While it’s been around for 15 years, a European legal framework for it, called MiCA, is just about to enter into application!
“So what?” you ask. Fair enough! Take it from us: it might not be a big deal, but it’s new, it’s interesting, it’s fun, it’s hip and trendy!
Not to mention that it’s a perfect opportunity to learn something new that will make a great topic of conversation with your friends!
Indie’s (@indies.cafe) in Luxembourg will provide the beer for your crypto, in partnership with OffChain Luxembourg a.s.b.l. (@offchain-lux )
It's about having a fall-back solution
Remember the “Crowdstrike” bug earlier this year? All payment systems were down because of a rushed, buggy IT upgrade! Wouldn’t everybody have wished that an alternative be available?
Earlier still, a Worldline outage had impacted payments in Luxembourg and Belgium.
It might sound unlikely today, but crypto is here to stay. Soon, it might happen that you have some crypto in your wallet that you care less about than you care about your hard earned euros! Then you’ll be happy to have ways of spending that crypto!
It's about the local economic fabric
Have you noticed how many window shops appear empty and deserted in the city? The centre seems to be emptying of shops!
Small shop owners face many headwinds, notably from high rents. But the fees charged by VISA and Mastercard eat further into their profitability and sometimes tip the scales.
Cash might be cheaper, but handling cash is not free either.
If you care for your friendly neighbourhood shop, go for crypto! Fast and easy like the credit cards, cheaper to handle than cash!
It's also an enticing economic proposition
Although wafer-thin cashbacks of 1% or 2% exist in the Credit Card world, they are not widespread in Europe.
Depending on the crypto, discounts and cashbacks can be available, and sometimes they are quite tempting!
OffChain Luxembourg works with Distriator and SpendHBD which allow users to claim rewards for spending Bitcoin Lightning and HBD!
The rewards can go up to 15%! Your beer and burger may cost, say, 30€, but if you pay in crypto, you can get up to 4,5€ in cashback.
It's about a lighter sort of money
Although not the case today, there will soon come a day when you’ll earn crypto easier than you earn euros.
When that day comes, the stuff you buy will just feel cheaper when paid in crypto than in euro.
OffChain Luxembourg works on building just such a crypto, the Offchain Luxembourg Token or “OCLT”.
OCLT will be easy to earn and easy to spend, so that all your beers will feel cheaper and more refreshing!
Give Bitcoin and HBD a try today!
