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Finney21
npub1ks2…pkex
2023-11-07 22:54:41

Finney21 on Nostr: P01 - shopify opportunity: raw notes2_unsorted [11.7.23 - block 815,736] Insights ...

P01 - shopify opportunity: raw notes2_unsorted [11.7.23 - block 815,736]

Insights from conversation with Santosh

Intuitive merchant experience is essential. 1 click merchant wallet activation with 10,000 sats

Opportunity for Shopify: become the LSP that routes all merchant bitcoin payments

Brand image boost by helping merchants protect themselves from the monetary debasement

The first interaction is what matters. Goal is to get a second interaction

Success = continuing to have interactions with Shopify

Approach Shopify through fiat lens, not through Bitcoin lens

Emphasize benefit to Shopify shareholders

Consideration: how will the market perceive this decision? What could be the consequences on Shopify share price

Visa’s pitch: data, data, data

Bitcoin’s pitch: convenience, global acceptance, reduction of barriers

Customers no longer need a bank account to purchase from Shopify merchants (this is huge)

Someone from rural Africa without a bank account that has an internet connection can make a purchase from a shopify merchant in Argentina

Merchant in Argentina can protect themselves from inflation and trade with customer in Africa who doesn’t have a bank account

This is the power of Bitcoin - the digitally native money built for the global internet economy

Consider consequences on current payment methods

First interaction: think big, tone down the Bitcoin and turn up the benefits to shareholders and merchants

Next step: big brain consultant call. Collaborate on drafting an open letter

One page open letter to Shopify. Handwrite the letter? Print on nice paper? From Satoshi? Orange envelope with a ₿ stamped/painted on it

Stakeholders: Shareholders, company (brand image), customers (merchants)

Define stakeholders, explain how Bitcoin benefits each stakeholder

#Bitcoin integration with Strike: How was it perceived? What’s the internal company impression of Bitcoin?

There could already be a Shopify team already researching or implementing a bitcoin payments project

Understand Shopify’s pain points

Bitcoin unlocks payments without barriers (1.4 billion unbanked people)

Keep the letter simple, playful, to the point

Paint a picture of what Shopify could look like in 2033 with bitcoin payments enabled

Someone with an internet connection in rural Africa buys something from a merchant in Argentina

Merchant subscriptions could be paid in bitcoin

Project objective: Educate and train a Shopify Bitcoin team

Challenge: selling Shopify on a solution to a problem they may not even know they have

Step 1: bring awareness to the problem
Author Public Key
npub1ks2lwal5ewlzpsgvtsc82kteszpyvnjcnfypmzepw5kd3pvaxtaq9fpkex