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 For Listia, what is the benefit of switching from Credits to XNK?

- XNK provide more value to the end user because they are fungible and can be exchanged for fiat currency or other cryptocurrencies.
- Listia no longer needs to act as a central bank to print and regulate the credits, which has led to inflation issues in the past.
- Listia can eventually replace its centralized reputation, feedback, and escrow systems with Ink’s decentralized system.

 Why create Ink and not use existing tokens or cryptocurrencies?

- From a technology standpoint, you could certainly use other cryptocurrencies purely for payment, but Ink is more than just a payment system. Ink is all about decentralizing reputation and helping buyers and sellers connect and pay safely no matter which marketplace platform they choose to use. The Ink Protocol Token is required to write to this new reputation network and is the best way to guarantee that payment is made to the right person.

- The price of XNK should also be decoupled from the price of ETH and other purpose-built cryptocurrencies, as Ink’s market cap should be tied to the GMV of the goods and services being traded in peer to peer markets and not the price of running contracts in Ethereum or influenced by Ethereum policies that may affect ETH in significant ways.

- Most importantly, creating a native token helps to create strong incentives for users and build very powerful network effects. The problem with current cryptocurrencies is that there isn’t any consumer usage and no reason for users to start using it. Ink has the power to change that, as it is designed from the ground up specifically for P2P marketplace transactions. Users who use it will have an ownership stake in the system and be more incentivized to spread its usage as they can directly benefit from its success.

-To truly jumpstart these network effects, Listia will be able to distribute XNK to millions of users in the existing marketplace. These are power users who are already buying and selling using a virtual currency. Each of these users can directly benefit by spreading the usage of Ink. It is not possible to do this with an existing cryptocurrency such as ETH or BTC.

 What incentive is there to use XNK? Will the velocity be too high to support the token economy?

- XNK is designed to function as a cryptocurrency, so selling and buying with XNK will typically be cheaper than converting back and forth between fiat currency each time, due to credit card and/or bank fees. So, for users that are buying and selling frequently within either the Listia marketplace or other marketplaces, it makes sense to use XNK so they can purchase goods or services through the token at a later time.

- Managed marketplaces like Listia will also incentivize using XNK by giving lower service and transaction fees when transacting using the cryptocurrency vs. fiat.

-Ink has a staking function built directly into the protocol in the form of the escrow feature, which naturally reduces velocity of the token. During this time, the seller prepares and ships the item while staking their reputation against the tokens in escrow until the buyer receives the item.

 What unique functionality will Ink provide that is not already present in other tokens and cryptocurrencies?

- Ink is built specifically for a typical transaction within a P2P marketplace and thus includes all of these features built-in: decentralized reputation and feedback, decentralized escrow, and third party dispute resolution.

Why would other companies use Ink over starting their own coin or token?

- Any app can certainly start their own token for transactions within their own ecosystem, but by creating a purpose-built token for P2P marketplace reputation and payments, getting it into the hands of millions of people on day one and being the first of its kind, Ink can generate the network effects necessary to become the de facto standard way that people buy and sell with each other.

- Once enough users have built up their public reputation within Ink, it will be difficult to incentivize them to move to a new system.

Will companies be willing to share proprietary data from users?

- Ink is designed to capture the fundamental details about a transaction, so it does not require other companies to actively share any proprietary or sensitive data about their users. The data within the Ink ecosystem will be built organically one transaction at a time, with a big boost from the Listia marketplace integration.

 Why would other marketplaces use Ink instead of only fiat currency like USD?

- Listia will also be building a simple payments app so users of huge marketplaces such as Craigslist, Facebook Marketplace, OfferUp, Letgo, etc. can start using Ink right away, without needing any integration or support from those marketplaces.

- Companies like Airbnb rely heavily on user reputation and feedback, which is why they have insurance for home renters and require deposits for guests. If users came on board with existing transaction histories, things like insurance rates could go down and there would be lower fees for home renters that accept Ink. Guests would not need to place deposits each time, and then get them refunded, as they could use the Ink escrow feature, which would automatically settle funds as needed.

- Marketplaces that exchange money for services like Angie’s List or Upwork try to control feedback scoring and reputation within their marketplace. However, for the service provider that is providing great quality service, they still have to ask you to leave positive feedback. The decentralized reputation and feedback built into Ink rewards service providers with a better payment option and automated way to earn reputation and get feedback. Marketplaces working together on one blockchain have more power to root out bad service providers while making it more efficient and rewarding for good providers.

for more info visit https://paywithink.com/