Beans Case Study #1: How our users use Beans to send money!

A Beans Case Study

In the Beans case study mini-series we are taking a deep dive into the story of our users. We explore their ideology and thoughts about money, how they explore new opportunities, what their motives are, and in today's episode; How they teach the next generation to think smarter about money. Let’s dive into the story of Seeker, a Stellar enthusiast and family man!

So, what is your opinion on money?

“Money I feel is a necessary evil so to speak. You need to have a way for fair equitable value trading. Gone are the days of me raising chickens and trading you 1 chicken for a bushel of corn because you grow corn, but we both need each other’s products. Money gives people an accepted item that is recognized at a certain value, and that item is valued the same by all.”

To continue this, what are your thoughts about saving?

“Saving is something that needs to be taught and engrained in people. Most people don’t have a reasonable understanding of living within your means, budgeting, and saving. These days most folks I know are on the perpetual spend with credit to pay later while racking up charges and interest. They complain about being broke but won’t get off that ride, saying they don’t have enough to invest or save. Along comes Beans, which allows a person to earn on their money while holding it and it’s still available for them to spend.”

In what way has Beans helped you out?

“With Beans folks can hold and handle their money as they need and want to. The cool thing is that you can use it for goods or services as wanted because your funds aren’t locked for any time while earning. One example happened recently; My son, who lives several states away from me, ends up with two flat tires and needs cash to replace them until payday. Through Beans I could send him money, within seconds, which would cover the cost of the tires. Otherwise, I would have to try to route his money through the banks, which could take several minutes to start but he might not get it for several hours to a couple of days. The other way is to send it through the Western Union-type wire service which will take several days and cost about 10$ per 100$ sent. Beans allows us to send and receive funds to family and friends and to be able to help them abroad.”

Are there any other ways you use Beans?

“Yes! The other way we started using Beans is with my daughter. She gets an allowance for helping out around the house. Through Beans, I can pay her and she always has her money with her in case she wants to buy something while we are out. She can get what she wants when I’ll pay the cash. Her Beans deposit is still building, and she can transfer her money to pay me back. It’s sort of like a personal payment account between us, letting her learn how to save and see her money grow as she does.”

lastly, what do you think about Beans and the current state of blockchain?

“The simplicity of Beans is wonderful! Its clean user interface makes it easy to see your funds and transactions and direct transfers are easy with contacts or by searching for friends. I feel that Beans will help educate more folks about digital currency and take the fear factor of “BLOCKCHAIN” away for a lot of people. I mean, digital currency isn’t new, I haven’t received a paper paystub in decades, and everyone already uses Debit/Bank cards or credit cards, so in the end, it’s not really any different!”

In the end…

We want to thank Seeker for sharing his thoughts and opinions on Beans! Are you interested in trying out Beans as well? Or would you like your story to be published? Reach out to us through our website or discord, and you may be featured in the next episode!