Carrying Tokens as a currency

Tech Support
#1

I have a local coupon service that functions much
like a currency.

Issuing transferable coupons based on the payment of
US dollars to a list of charities.

With coupons expiring based on certain conditions
and generating new coupons based on use.

I am investigating the possibility of putting this
in to one of the ongoing platforms for smart contracts. In a sense creating our own smart currency.

Our priorities are:

  1. cost

  2. ease of programming or setup

  3. reliability

  4. secure

I am asking “do you feel your system may be a
good fit for my effort?”.

If yes, what do you suggest I do as an initial step
to learn more?

Thank you

Andrew

St Cloud MN
USA

#2

First of all, welcome to the NEM forums. We’re glad you’re here! :slight_smile:

I think a better place for this topic to go is general discussion though, so if you have the power to move it there then please do. If not a mod may come and move it there, so don’t be surprised if that happens.

In order to address your points:

  1. Cost is a bit of an issue right now if you’re building on our chain. The fees are very high and there’s talk to lower them, but I doubt it’ll be that cheap. Other people have other things to say about that, but this is NOT cheap.

  2. Ease of programming is a piece of cake if you’re doing it in Java (don’t do that) - or slightly harder in other languages as it’s just a REST API. The only “hard” part about integrating is signing TX properly, which took me a while to figure out. TL;DR: It’s a non-issue! :slight_smile:

  3. Well it is a blockchain platform, ofc it’s reliable. It will be there 24/7 forever.

  4. Well it is a blockchain platform, ofc it’s secure. It is just as secure (or better as some people say) than every other blockchain platform.

All that said, I have some questions for the rest of the community.

  1. Is token supply manageable (create/del tokens) by a central entity? If yes, can it be multisig?

  2. Can we lower fees already?

If you want to learn more about our platform, I suggest you start at the blog. Here is an article to get you started.

#3

Hi Andrew. Thanks for coming by our forum and starting a conversation. @ReverseCold made some very good points. I have also sent you a PM with a little more information.