What Is GeoCrypto?

There is no shortage of unique ideas in cryptocurrency and blockchain. Marketplace-type projects are especially interesting to individual communities. GeoCrypto is one of those fascinating proposals which will only succeed if enough money is collected. This Monero-oriented marketplace project will introduce some big changes if its current fundraising efforts are successful.

Geocrypto is a Monero Marketplace Project

Creating another type of marketplace solution may sound superfluous, but GeoCrypto is not your average project. While it is designed to promote the benefits of the Monero currency, it will do so in a rather interesting manner. Its goal is to pay sellers and affiliates with XMR, yet accept a much wider range of payment methods than people would otherwise expect.

Envision a marketplace where one can pay for goods and services with any payment method that comes to mind. Payment options include most cryptocurrencies, wire transfers, cash, and even checks by mail. There will be no acceptance of credit cards, as they will be replaced by the Shifty button moving forward. Removing credit card support makes a lot of sense due to fraud and chargebacks.

This may sound like taking one or two steps backward, but the concept has a lot of merit. Monero is a far more anonymous and privacy-oriented payment method than any of the regularly supported payment options on GeoCrypto. Although not everyone may be looking for more anonymity measures, Monero offers quite a few benefits to all sellers and affiliates alike.

The new marketplace platform will allow for the sale of goods and services all over the world. It is expected that there will be some minor restrictions on its usage, although only time will tell whether or not those restrictions will be put in place in the end. Perhaps the most intriguing feature is how sellers will be protected against Monero price volatility. They can opt for price fluctuation protection, which is a feature many people will surely appreciate.

Additionally, GeoCrypto will also act as a cash-to-Monero exchange service. This is somewhat similar to how LocalMonero operates, but it will serve as a nice integration regardless. All of the features provided by GeoCrypto will be made possible by using Vespco marketplace software, ShapeShift integration through the Shifty button, and some additional to-be-developed features. All things considered, this is a pretty interesting project which will bring a lot of positive attention to Monero.

This project will only succeed if at least 20 XMR is raised by the community. This is not much money to make this particular cryptocurrency more popular on a global scale. Reaching this amount of funding should not be a major hurdle, although little has been contributed so far.  If all things go according to plan, GeoCrypto should go live pretty soon after the money is collected. It is now up to the community to support this novel concept.