The past year on the road, merchant adoption has been a priority for us. Why? They are the key to network effects for acceptance/payments.
We’ve been talking about a maturity model and finally put it on paper last night. Here is v1 based on our interactions with merchants and our bitcoin preferred juice shop in Uganda.
Would appreciate your feedback/comments on this.
We see the maturity of a merchant in three levels based on how money is used.
Level 1: SoV OR MoE (merchant onboards with either user case based on their need/pain)
Level 2: SoV & MoE
Level 3: SoV & MoE & UoA
There is maturity within each use case (ie SoV: storing in exchange vs cold storage). We’re weak on the UoA use case so if you have experience with merchants pricing in sats, would love your thoughts!
We’re hoping to continue flushing this out to create more collateral to help further merchant adoption.
