I just made the decision to pose some significant queries to the DASH community regarding the new DASH Evolution platform and the current roadmap.
Since it was announced in the official roadmap, I’ve been intending to submit a proposal to the DASH network that would make it easier for merchants to integrate with and sign up for a Dash Marketplace, therefore I asked the question “Will DASH Evloution be Shoppable?” in the DASH forum (see link below). In order to determine how DASH integrate into the current ecommerce model of online buying, I wanted to determine whether an ecommerce strategy was in place.
My Experience Did Inspire Me
I studied business and economics in college, and I have over five years of e-commerce experience working as a certified developer for one of the largest e-commerce platforms. Moreover, I have worked on a large number of integrations for new e-commerce firms that offer ERP or payment solutions to more well-known payment methods. Besides, I have devoted numerous hours to AB testing, debugging, correcting, patching, and figuring out why some elements of a merchant’s checkout page simply don’t function.
After giving it some serious thinking, I’ve concluded that despite how great digital currencies like DASH and others are, they might not be compatible with the present e-commerce model, making it pointless to try to accept them as a form of payment. The reason for this is straightforward: the existing ecommerce paradigm was created to support credit cards when it comes to online buying. Yes, we might discover a way to bend the present paradigm and force people to make purchases using digital currencies, but it leaves the merchant with the challenge of adopting this new strategy while running the risk of interfering with their current checkout flow. The cost of the training required to equip customer care representatives with the knowledge of wallets and private keys will not be assured to boost revenue through better conversion rates and cart values.
Simply put, very few businesses will want to add digital currencies as a payment method to their checkout page if they cannot sufficiently claim to enhance conversions and there does not appear to be a significant demand for it from customers. The checkout is the holy grail of e-commerce, and they should do it to increase cart size and conversion rates.
Additionally, logistical issues with matching up a DASH payment with the local currency of the business remain unresolved. While businesses will still need to pay their employees and suppliers in fiat currency, the volatility means that they could lose money at any given hour, minute, or day.
What therefore is the answer—Evolution?
I’ve been discussing some ideas with a few people in the DASH Slack channel, and I found it unsettling that the only goal was to improve merchants’ existing checkout processes by adding a widget of some kind. For some retailers (like the Bennie’s barbecue sauce business), this strategy might seem reasonable, but I believe more work to win the support of larger retailers.
I had these inquiries:
- Will Dash Evolution have an ecommerce layer that allows for shopping?
- How does Dash want to bring on merchants?
- Is the platform expected to be Plug n Play or are retailers expected to switch to Dash Evolution?
First, let me explain what “shoppable” means in the context of e-commerce. They created this when I was working for a publishing company that was converting to e-commerce. The idea was to create an online shopping experience that resembled one of its top fashion publications in order to make it “shoppable.”
Why They Accept DASH
Now, the answers to the question were once more concerning from my perspective since they all originated from a place of ignorance about how and why ecommerce functions the way it does. I believe it is erroneous to assume that because DASH is decentralized, has reduced costs, and allows you to have your own bank, businesses will begin to accept it. Everything from page load times to the color of the “Place order” button might affect conversions; a merchant only worries about them. Therefore, persuasive evidence that they optimized the solution for conversion and will outperform the merchant’s current payment flow for a merchant to integrate DASH.
DASH has to provide data, but it doesn’t have any. In addition, how many customers who shop at a specific retailer—say let’s Levis—actually use DASH to justify its inclusion on their checkout page? Who will teach customer care representatives what a cryptocurrency or digital currency is, too? How will my accounting team balance my accounts so that I can pay my employees and suppliers?
It becomes much more difficult than simply including a new payment method in the checkout, don’t you think? This is why businesses have not embraced any of the numerous crypto currencies, as the conventional ecommerce paradigm – including USD, GBP, and EURO – functions flawlessly!
What can I do with it?
Every time I send DASH to friends and family, I get this question. In order to demonstrate the viability of digital currencies as a means of payment in e-commerce and to provide an answer to the question “Where can I spend it?” I choose to approach DASH about onboarding merchants into a marketplace that offers our favorite brands in DASH.
Possible approaches to obtaining adoption:
DASH requires a credit card of its own, tied to its Evolution platform,which financed with USD via a Fiat gateway from a user’s bank account.
Existing payment methods must accept DASH as a form of payment and use the ISO code “DRK”
Create a market place so that current DASH users can begin spending their currency and have a place to refer people whenever the question “Where can I spend it?” arises.
We should use DASH to send DRK but instantaneously settle in a merchant’s preferred currency if they desire a payment integration.
Additional instances of having your own online store platform
Drupal and Joomla are trying to integrate payment widgets into their blogs, much like Steemit did when it created its own blogging platform to draw bloggers rather than competing with Wordpress. DASH ought to think about developing a marketplace platform and luring vendors to sell their products since it won’t conflict with their main line of business. The discussion regarding including DASH as a method will be simpler if this is a success because there will be sales statistics to support the assertion that there is a need.