Polis Merchant Adoption


#1

Introduction

Nigeria over the past decade has seen a major increase in the use of cryptocurrencies from bitcoin to other major alt coins. With this, the concept of digital cash and virtual money is not alien to most average Nigerian citizens.

Although Nigeria ranked number 1 as the highest users of bitcoin as at 2017 it’s still a long shot from attaining mass adoption especially among merchants in the country and this is regardless of the fact that other top cryptocurrencies like dash, smartcash and many more successfully run multiple marketing campaigns in the country aimed mostly at merchants, even though this yields really impressive results leading to the registration of over 100,000 Nigerian merchants on various platforms in Nigeria.

All these are still not enough to create the needed atmosphere for cryptocurrency users to easily do business with merchants in the country using solely cryptocurrency, it’s already a hassle spending cryptocurrencies with the same flexibility as when using fiat or cash to even begin with, much more getting business owners to accept cryptocurrencies.

This is a problem faced not only in Nigeria or other third world countries but also in other parts of the world, the whole concept of “mass adoption” is still an ongoing slow process and one of the major reasons for its slow pace can be blamed on issues ranging from the volatility of cryptocurrency to its complexities, government sanctions and many more.

The average citizen wants to feel secured and assured of his/her money and many lack the basic knowledge of cryptocurrency much more how to use it so they stick to what they understand and feel safe with which is fiat even though cryptocurrencies are in itself a much better option.

To address this problem in Nigeria, one needs to understand the business needs of the merchants or traders, then device a way of not just convincing merchants to accept a particular cryptocurrency but educate them on the benefits of the technology, expose them to its various use cases that would be useful to their various businesses. With this, the merchants would be equipped with the necessary tools that would facilitate a more cryptocurrency friendly ecosystem where businesses, exchange of goods and services can be done using cryptocurrencies with more confidence and flexibility than when making use of cash.

Nigeria provides a great opportunity for Polis to leverage on, market itself and successfully set a footstool among the major payment alternatives and exchange gateways used by merchants and cryptocurrency users in the country.

Objective

The main target of this proposal is to facilitate the use of Polis amongst commercial merchants in Nigeria such as Small and medium enterprises (sme) and also a number of large scale businesses, though our major focus would be on small and medium enterprises which according to the International Council for Small Business (ICSB), Micro, Small and Medium-sized Enterprises (MSMEs) make up over 90% of all firms, provide up-to 60% employments, and account for 50% of Gross Domestic Product (GDP) of any economy. We plan on running an intensive marketing campaign for Polis in two Nigerian states with the busiest economies; Lagos and Abuja.

Lagos is the most populous in Nigeria, and the most populous on the African continent. It is one of the fastest growing cities in the world, and also one of the most populous urban agglomerations. Lagos is a major financial Centre in Africa; this megacity has the highest GDP, and also houses one of the largest and busiest seaports on the continent. The city of Lagos is a major economic focal point in Nigeria, generating around 10% of the country’s GDP. This is also where most of the country’s commercial banks, financial institutions and major corporations are headquartered. Lagos is also the major Information Communications and Telecommunications (ICT) hub of West Africa and potentially, the biggest ICT market in the continent.

Abuja is the capital of Nigeria with a population of about 2.4 million people from recent estimates; it is an urban city with a bursting economy. The state is home to major corporations and top businesses.

We have been in contact with over 30 business owners in both states who have individually expressed interest in Polis. Most of these merchants already accept bitcoin as an alternate means of payment in their various businesses and are open to better options.

Project Approach

The execution of this project has been carefully analyzed and strategically planned to achieve a credible result, the whole project has been divided into two phases.

First phase would comprise of an intensive Polis marketing campaign aimed at the merchants in the states, we would be providing all our listed merchants with a Polis promotional kit which would contain all the necessary tools they need to be up and running accepting Polis in their various businesses.

The polis promotional kit would contain the following items:

  • Polis Banner Pull Up (medium size).
  • Polis accepted here neon sign for merchants store fronts
  • Summarized polis brochure
  • Polis sticker

The second phase would be focused on designing a polis merchant listing website which we hope would be linked to polis official website. The primary purpose of the website would be to list merchants and the services/products they provide so Polis users can easily locate merchants close to them. The site would also be equipped with functionalities that would enable it notify Polis users on real-time if a new merchant starts accepting Polis within their state/city. The rationale behind this is to ease the registration and management of listed merchants and create a merchant use case for polis in the process.

Project Timeline

This project is designed to be finished within 2 months, this would give I and my team ample time to execute the project successfully without any hitch.

MONTH ACTIVITY
First month Polis marketing campaign and merchant listing.
Second month Design and development of polis merchant site

Project Validation

As work progresses and challenges are being overcome, a fully comprehensive and concise report will be uploaded on the community’s major social media platforms such a Polis forum, discord and telegram for the community to stay abreast with the latest happenings as regards to this project.

Contributions

Skales has been an active member on almost all Polis social media platforms. He has been able to make a Polis Introductory video series.

Budget

ITEM COST
Photo Coverage $200
Polis banner pull up (60) $1750
Polis brochure (60) $600
Polis Accepted Here Neon Signs (60) $2500
Polis sticker (60) $360
Team Bounty $1000
Polis merchant website design $2800
Contingency $460
TOTAL $9,670

#2

this is great. this will put polis at the forefront in Africa. And Nigerians are the highest users of Btc this is the best country to invest in. Love your passion and consistency. I noticed this is your second proposal right?

Well, lastly how will merchant liquidate their polis? Will you be helpful with that information. Like are you going to be buying the polis used at their store?


#3

Thanks!
This is actually the third proposal.

As regarding the liquidation of the Polis accepted by merchants, we have already contacted digitalkudi (an exchange in Nigeria) regarding the listing of Polis on the exchange, meanwhile we have created a Polis merchant group on Whatsapp where merchants can reach us 24/7 for the liquidation of their funds manually just the way the Dash Venezuelan Team started off.

We will also be providing a payment processor later in the future on the Polis merchant website where the liquidation of merchant funds can be done automatically.

But for now; we will be operating through the Whatsapp group. In fact; most Nigerians are more comfortable trading cryptocurrency on social media groups than on exchanges.

Thank you so much for your feedback.