Website | Whitepaper | ANN | Telegram |
By https://bitcointalk.org/index.php?action=profile;u=2230830
Introduction
Araw is a token for e-commerce payments. The basic concept is that a customer who has never used cryptocurrencies can use ARAW tokens in e-commerce without understanding anything about how cryptocurrencies work.
In addition to this, the ARAW team decided it would be a good idea to give rewards (in the form of more tokens), be exchangeable for ETH or BTC, and even have a credit card and app which work just like a bank. The best summary I can think of is that ARAW is an unstable investment account that you can spend like money [but only on e-commerce until the credit card comes out]. It's a little ambitious with a 25M hard cap, but it seems that the technology proposed is something that is bound to happen anyway.
![](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmUTiTWm3yP1SHqdJZQNshvzBiqvxt7YUgSLJo76reSG2A/image.png)
Conclusion
Right now, however, they mention there are only 5% globally who use crypto. The majority of the population is still scared of crypto, and from my experience working in e-commerce, an even larger majority will see the ARAW pay button, get spooked, and will just end up opting to use one of the more traditional methods of payments. It is good and admirable that araw team is trying and working on a platform that will bring the masses to crypto but unfortunately the masses will have to be hand-fed the ARAW token before they are able to trust it. By hand fed I mean the team will have to focus more on promotions to get the masses to adopt it.
This is going to be a slow burn, and if it works out well, a very bright one in the far future. For me, though, this is definitely an extremely important and definitely needed addition to the crypto economy. Because at this point in time we still need easier to use crypto applications to attract the masses.