On the PRO OR NO platform I found an interesting statement (see below) in which a dear YEM owner is thankfully trying to connect the payment provider Forumpay and YEM. Apparently the management has already agreed to a YEM integration and it is just a technical question that would have to be discussed with the YEM Foundation. These are very promising claims.
By: Safezone Expert
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After looking at Forumpay's business model, however, a direct integration of YEM into Forumpay's model seems hopeless to me. I will try to justify this with the following explanations. However,
it should not be understood as pessimism, but as a presentation of facts that can be used to reassess and understand YEM. This is the only way to find real solutions
together.
How does Forumpay and YEM work? Let's take a closer look.
When I watch the "Easy Crypto Payments" video on Forumpay's YouTube channel, I see that
the business model is based on the direct exchange of crypto to fiat. Customer pays in crypto >> Forumpay exchanges in the background at the best price on various exchanges for fiat
>> Merchant receives fiat. A model that has been used by dozens of other payment services for many years. This simulates that, for example, Bitcoin is accepted as a direct means of payment
by merchants. In reality, however, it is exchanged in the background because a merchant cannot afford to go on a rollercoaster ride with exchange rate fluctuations of up to 10k in 24 hours. So it
is fake liquidity that is generated by trading bots.
It is also important to understand that this exchange does not work 1:1 either, since not every cryptocurrency is listed on all exchanges and with all trading pairs at the same
time. It would be nice if it were that easy. But the truth is different; you first have to determine what the best rate is currently and which currency is exchanged for another cryptocurrency
first before paying the amount in fiat to the merchant at the end. This is how the provider (in this case Forumpay) ultimately achieves its benefit, because it has of course instructed its bots
to always exchange with profit. This is something you have to understand if you want to evaluate services like Forumpay and try to connect them with YEM.
This form of payment is therefore based at least on the fact that the corresponding cryptocurrency is already listed on various exchanges and has the corresponding liquidity and pairings.
However, this is not the case with YEM.
And now comes the most important thing in this context
YEM is not intended that way. YEM is the means of payment WITHOUT any form of exchange. Merchants must accept YEM directly. Why? YEM is intended to form an economic cycle that is not based on
fiat. That is exactly what is special about YEM, what gives it its value. It is - even after 8 years - the unique selling point among all digital encrypted currencies, with all its advantages. It
is precisely this understanding that must be used to implement an action plan that unites all active YEM holders. Everything else is wasted energy. As long as this is not understood and everyone
tries to reinvent the best currency in the world over and over again instead of using what is already there, we will keep going in circles and it will take decades before YEM is really used. It
all starts in the mind of each individual. And as long as these ideas diverge, it will be an endless tug of war. There is a clear direction for YEM and everything has been ready for it for years
(which does not mean that it cannot be expanded and improved).
So it is not a purely technical solution that is needed (as claimed in the PON statement linked below), but a fundamentally conceptual
one.
I am not sure whether the situation was communicated correctly and unvarnished to the Forumpay manager so that he could really understand what YEM exactly is and how it works. If there is a
solution with Forumpay anyway, all the better - because then the Forumpay people would be a blueprint and could communicate their implementation method and the profit with YEM to all other
services of this kind. That would be a real breakthrough!
You can also comment these two PON statements to receive some FYEM rewards.
https://proorno.com/statement.php?id=19898
https://proorno.com/statement.php?id=19901
