Cryptocurrency donations are now up and running. In the near future, we will also add more conventional donations means like Paypal. All donations will go towards further development of the ecosystem and improving our user’s experience.
Why are cryptocurrencies a direction of interest?
- Conventional payment services involve fixed and % fees per transaction, which can be burdensome on small daily payments for goods and services.
- If people want to contribute an amount to the Resyn initiative, we want that generosity to be appreciated and not impeded by their transaction costs.
- Resyn.io is focused on local empowerment and saving time and money; the affordable transactional costs of cryptocurrencies open the possibility towards exploring other financially empowering options right away.
- To have impact at scale while remaining a small team, we must process traditional payments through a Canadian system. The currency conversions for our growing user base will represent more money being transferred to 3rd parties rather than the direct services for our stakeholders - circular economy participants.
- Cryptocurrencies, in their very design, present an opportunity to farmers and consumers of having more control over their trade and asset transfers through direct interaction between users without 3rd party costs.
- Cryptocurrencies are becoming attractive as banking alternatives for people struggling to meet bank account threshold requirements.
- Many of our prospective users are located in regions where national currencies are highly volatile or unstable. Helping them secure an additional transactional asset for their microfarm or small-business is something we are interested in exploring.
Why these (Bitcoin, Binance, Dash, Litecoin, Tether)
- We are in an exploration phase with these select coins based on track record. If we get requests for more, we will obviously consider adding further cryptocurrency options - but only if they demonstrate low risk to our users and we believe in the development teams behind them. We by no means recommend high risk investments for small businesses, and encourage users to fully educate themselves on the cryptocurrency market before getting involved.
Addressing the environmental impact of bitcoin and other “proof of work” networks
- It is important to understand that the use of crypto takes a lot of energy due to its “constant online” necessities
- Renewable energy can support and make these alternate payment systems carbon neutral
- The increased use of crypto can spark a new market for decentralized renewable energy pioneers
Much more to come!