Shop for crypto with FIAT in store / Teller Network


#1

Thinking about the synergies between the Teller Network and Keycard, I wrote the following user scenario for discussion.

The rationale is that Keycard is not needed in the Teller experience, since in the baseline Teller scenario both seller and buyer are already Status users and use their mobile and dApp to drive them through the experience. Keycard brings the fact that it’s tangible, and thus could be a tangible wallet to store some crypto before the user even gets Status.

An example scenario would be as follow:


A user has zero crypto, or crypto knowledge, he wants to get easily some crypto and a wallet to manage them. He doesn’t want to go through an exchange, but he is ready to walk to a store and pay for his crypto with FIAT.

  • The user gets into the store, picks up an empty Keycard.
  • He has no wallet for now on his mobile, nor Status.
  • This keycard is advertised as empty and sells for let’s say 10$
  • He goes to the tenant and asks to buy this card and also 50$ of ETH to put on it.
  • The tenant then presents him his android phone, with the amount of ETH he will get for 50$, and then asks him to tap the keycard on the PoS (the Pos is just the tenant android phone running status ad a dApp)
  • When the Keycard is tapped to the tenant phone, it’s basically just passing its public key to the dApp, so that the dApp can send crypto to this public key.
  • When the PoS indicates to the user that the transaction is done, the tenant asks for 60 to the user
  • The user can check he has 50$ of ETH on his keycard by tapping it on any android phone, it will prompt an etherscan like page with the amount on the public key
  • When the user gets home, he can download status, create a Status account and import into his wallet the crypto he just got.

Here are some questions I’d like to raise:

  • does that kind of scenario make sense for our go to market? or should we tackle this further down the road only?
  • do we want this experience to be integrated in the Teller dApp? It could make sense for the tenant for sure, because he would be able with one app to sell both to status users and to totally new customers who would buy a keycard only and not use their mobile. On the other hand, the process would be quite different to the current Keycard process I guess.