Storjscan and incentives for native coin for payments

Product Discussions
1

Hi,

After yesterdays Q&A I had a quick look into storjscan. From how I understand it you’ll be able to create a personal eth address for your DCS account without the need to contact support. Incoming STORJ transactions will be recognized and added as funding (in USD) for future payments automatically.

This is obviously a great improvement over the current situation and it’ll be much easier for customers to pay using the STORJ token.

But I still don’t understand why a customer would do that if you look at the payment options.

Option 1:

  • add a credit card … done

Option 2:

  • know in advance how much STORJ is needed since it’s required to prepay at least three months (adds insecurity)
  • buy STORJ somewhere … (adds overhead + fees)
  • transfer the STORJ to the DCS address … (adds overhead + fees)
  • repeat this process periodically (adds overhead)

I really don’t see the point of going through so much trouble and even get less for the dollar (transaction fees).

The only use cases I can think of are:

  • You don’t have a credit card or you don’t want to use it
  • Crowdfunding / donations (adding funds can be done by anyone)

Both niche use cases will find some customers for sure but it seems not to be an option for the masses.

Two questions:

  • am I missing some use cases?
  • Is there any plan to make the STORJ payment option more attractive to a broader customer base e.g. via discount?

Thanks!

2

I think I read somewhere that the customer gets a 10% bonus for using storj token instead of using USD.

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3

Hello @storagetur,
Welcome to the forum!

You described several use cases and @lyoth is correct - you will get 10% bonus if you would pay with STORJ tokens (at least for now, while we adding tokens manually).
I would add another use case - Storage Node Operator can be a customer too, and since they already have STORJ tokens on their wallet, it can be simpler to pay with STORJ tokens for the Storj DCS service. In the edge case they may specify the generated address as their wallet and skip the fee problem, if their goal to exchange their shared space and bandwidth to usage of Storj DCS for their own needs (Storj DCS will be more reliable than a one disk for backups and personal data). Please note, zkSync is not supported yet, so in such case SNO need to opt-out of zkSync, and withdrawals would not be possible.

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4

I can see the third use case,but for that to work you would also need a withdrawal functionality,is that something you’re planning to add as well

Probably it makes sense to market the 10% discount more prominently once the feature is available.

Also,don’t you need a banking licence to hold crypto funds on behalf of the customers? That would also require a expensive KYC process @Alexey

5

no, this is not a wallet, it’s a deposit address. You can request a refund, but it will be done only on closing of your account. So this is a one way top-up in most cases.

And this is not a bank account, it’s a deposit address for STORJ tokens. You will pay for the service, not store your funds there. We providing a decentralized end-to-end encrypted cloud storage, not a financial service.

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6

That makes sense,thanks for the explanation @Alexey

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7

I think this could be a thing. An easy way to accept payments directly to the storage account. This could be very very useful for open source projects. If you combine that with smart contracts and automated exchange from other cryptocorrencies, it could be a really nice solution to fund infrastructure costs.

8

Indeed, it’ll be interesting to see how the feature is used by the customers once it is available