It’s likely that the blockchain ecosystem wouldn’t be at the stage of development it is at without the passionate decentralisation and blockchain enthusiasts who contributed to Bitcoin and cryptocurrency’s meteoric increase in notoriety over the past few years.
While this technology will undoubtedly revolutionise industries moving forward, its current nascency means there’s a significant rift between the enthusiasts, and those who might have never heard of crypto. Each are at opposing ends of the spectrum, and very little is being done to bridge the gap.
For business owners, putting in 60+ hour weeks to fuel your passion means there’s probably not a slot on your calendar marked “Work out what the hell cryptocurrency is”, so when you hear about Liven’s plan to let thousands of Aussie businesses be paid and issue rewards in crypto, we understand there might be some concern.
A common question with LivenCoin, Liven’s new digital currency for food, is if merchants and business owners looking to join our dedicated payments and marketing network will be forced into accepting cryptocurrency.
This will not be the case.
Crypto in doesn’t mean crypto out.
We know business owners have no desire to add another complicated layer to the operation of your business, nor learn about and implement new facilities to start accepting crypto. With Liven, neither of these things will be an issue whether you’re crypto savvy or not.
Once Liven switches to its blockchain-based payments platform later this year, current merchants and new merchants who join will be given three different options:
1) Keep accepting the fiat currency of your region (AUD, USD, GBP etc)
When a customer pays with cryptocurrency, the default payment is always in fiat currency — your local currency. Choosing this option will mean all payments made to you will be instantly converted into the national fiat currency used in your country of operation (such as Australian Dollars). This conversion is handled by Liven, so the money entering your account will always be fiat currency — no worrying about complicated online exchanges or anything like that.
Basically nothing changes from your current use of Liven, unless you want it to. The only thing that will change is the rewards provided to customers, issued as an intrinsically valued digital currency rather than LivenCash, our virtual network currency.
2) Accept fiat currency and LivenCoin (LVN)
We call this option “the best of both worlds”. This is for the merchants who are crypto-curious — keen on dipping your toe in the pond but not quite ready to dive in headfirst.
Just let Liven know how much you’d like to be paid in either, and it doesn’t have to be a 50/50 split either. Want $10 in AUD and $5 in LVN? We can do that.
3) Getting paid all in crypto
For any merchants keen on embracing the future of payments technology, this option is for you. Once customers have paid and received their rewards, your business will be paid the corresponding value in LVN, set at the time of purchase through Liven’s dynamic rewards curve.
It’ll then be up to you to handle your LVN how you like, the world is your crypto oyster.
With these options, merchants on Liven will be able to have full crypto, no crypto, and anywhere in between, all implemented seamlessly through Liven’s existing payments platform. We know crypto can be a scary concept, so we’re making sure our merchants can be involved at any level they want.
You’re also not locked into a single option, just get in touch with Liven and we can discuss changing how you’re paid through our platform.
Regardless of what you choose, being on Liven means you’re accelerating the everyday adoption of cryptocurrencies, and are well-prepared for the future of payment technology.
Read more about how The LivenPay project is building a stable cryptocurrency for the real world, and making the capabilities and benefits of blockchain technology accessible for brick and mortar businesses and everyday consumers in Liven’s community whitepaper.