TLDR I’ve given 50 ETH to this project already. It is one of my favorites.
One of the biggest issues I have as a crypto investor is that it’s really hard to spend my earnings. I have a Mastercard, which I use for daily life and is connected through my Apple Pay wallet. If I want to pay off my credit card bill I have to do the following.
- Send crypto to Coinbase
- Cash out to my bank account
- Send fiat to my credit card to settle the bill
Step 2 is in my opinion, extraneous. I should be able to pay directly for things from my wallet with my credit card. More so, I should be able to directly pay off my credit card with crypto with just a few clicks.
It’s these issues that STK Token has solved. They’ve created a full financial ecosystem platform where your crypto can be used for everyday purchases. The main component of their system is the STK app, which combines credit card transactions and crypto. It works through the use of the STK token, which opens a state channel to be able to process several CC transactions. The beauty of it is that this open state channel keeps the user from paying multiple transaction fees. Think of the state channel like a sub ledger, which records transactions until a certain amount of funds have been spent. Once that occurs, the sub-ledger is added up and then subtracted from the main ledger. This can be done over and over again.
As of right now, they already have existing partnerships with Mastercard, which no other company has. If you are signed up for Monaco or Tenx, their cards are only available for use in Europe, plus they don’t have official partnerships. They can already issue cards for Canada, US rollout is expected in Q2 2018 and rest of world in late 2018.
The power of their platform is not in the functionality, it’s the data they collect. As with Nucleus Vision and a few other ICO’s I’ve reviewed, they are full well aware of the amount of data they will collect and more importantly, how much that data is worth to advertisers. Inside the STK app is a social-insta style platform that aggregates all of you transaction data, allowing for advertisers to conduct hyper target campaigns against consumers who the company knows actually buys their product. You can’t get data better than this, location, buying history etc.
Let’s say I’m Starbucks. From the STK app I know that you walk by 2 of my locations every single day at 9am and you come in and buy a coffee 23% of the time. I could use this information to send targeted ads and offers through the STK app with the goal of getting your coffee purchase up to 50%. It’s bit scary, but it’s really powerful and EXTREMELY profitable. This is a BILLION dollar idea here if they can monetize it correctly. More than any other company I’ve seen so far, STK actually has a business model which could net them enormous amounts of customers and fees.
Miro and his team are top class, many of them have worked with other payment processors before and its one of the reasons they were able to secure the partnership with Mastercard. I have full faith in the team.
My opinion is that STK will be one of the best ICO’s in January for these reasons. Do your own due diligence. This is not advice.