Pi Network Team Surveyed Pioneers How to Integrate Pi Coin in Local Commerce: Here’s What They Had to Say

 Key takeaways

• Pi Network (PI) has shared clips from its global user base that share stories of PI tokens being used in payments around the world
• The project sought its community’s ideas for how Pi Network can further expand its ecosystem to include different real-world use cases
• The PI price prediction algorithm expects more upside for the unreleased asset, targeting a 2x gain by January 2024

PI aims to increase decentralization by encouraging more real-world utility for the native crypto asset

The current IOU price for Pi Network (PI) is $35.01. PI is up +0.28% in the past 24 hours after a relatively stable month of price action in which the asset ranged between $33.39 and $40.39 over the past 30 days.

Pi Network has launched a community initiative that aims to uncover more real-world use cases for the PI token. Pi Network users, known as Pioneers, dialled in to share their thoughts about how PI could be integrated with brick and mortar businesses, while some users even shared stories of PI actively being used in transactions in their local area.

?To continue to increase the utility of Pi in local business (based on community survey feedback recently shared by Pioneers), @PiCoreTeam is preparing for a multi-day event involving local Pi integrated businesses, merchants, and communities around the world! We’d love your… pic.twitter.com/EIUskikdkR

— Pi News (@PiNewsMedia) November 21, 2023

Among the use cases shared by Pioneers were real estate property purchases, a cashback card where PI tokens can be converted for cash in real time, and loyalty programs for customers of various businesses including an outdoor furniture store.

Pi Network stated that it hopes to “increase the utility of PI in local businesses” and that it may seek to integrate new applications of the technology according to its community’s ideas.

Here are some real-world examples of PI being used for transactions in local businesses across the globe

A PI-only experience at a resort in the Philippines

A Pioneer from the Philippines recalled a three-day trip to a nearby resort that he had taken with his family. The user was able to reserve a room at the resort using PI tokens and could pay for meals and other on-site amenities using the cryptocurrency.

The user said, “I saw a Facebook post and fortunately the host was accepting PI payments. This allowed me to only use PI tokens during my time at the resort which was really helpful.”

A roofing business in Tanzania that accepts PI payments

A Pioneer from Tanzania shared his business that provides a tiling service for local houses. The user stated that he accepted PI payments from customers, which he hopes can help to attract more people in the area that use Pi Network by advertising a seamless payment system.

A bakery and pastry shop that allows PI payments in South Korea

A South Korean Pioneer stated that a bakery called Danny Tony in Chengdu City, South Korea is run by users of Pi Network. The owners are happy to accept 100% of their payments using PI tokens, which demonstrates the perceived value of PI in the area as a digital currency option.

PI is the second-most-owned cryptocurrency in South Korea behind only Bitcoin (BTC), and Pi Network recently shared a story of a South Korean user paying for a piece of art using PI tokens back in September.

Algorithm predicts 2x surge from PI in the next 3 months

Pi Network has yet to launch its open mainnet and remains in its closed mainnet phase of development. This is why the market price for PI is currently an IOU contract, as select exchanges have begun to offer an investment product that allows traders to gain exposure to the asset’s estimated market value.

The IOU price for PI has risen +37.66% in the past 6 months and has recently been consolidating in its current range around $35. The PI price prediction algorithm expects this period of price action to form a springboard for the asset — after holding support at $35, the algorithm expects a 2x gain from PI by Q1 2024.

In total, PI is expected to climb by +113% from the current price of $35.01 to hit $74.72 in January 2024. This could mark the beginning of long-term price appreciation for PI ahead of the Open Mainnet launch, which is now on the horizon according to Pi Network’s recent roadmap update.

Bottom line: PI’s global user base able to contribute towards network development, shares stories of PI being used in real-world transactions

Pi Network makes the entire process of mining cryptocurrency much simpler than alternative layer-1 blockchains. While other mining processes involve purchasing expensive hardware and supporting costly energy bills, Pi Network enables its users to support the infrastructure through a mobile-first mining system. The Pi Network app allows anyone to mine PI with just their mobile phone, with no additional electricity costs needed.

The accessibility of PI has given it global appeal during its testnet phases and it now supports almost 50 million users worldwide. From the USA to Kenya and Tanzania to South Korea, users shared their stories for how PI has already been used in the real world. A common argument for cryptocurrency is that it provides users with a stable means of payment both locally and internationally, and PI has made major progress to fulfilling this value proposition already.

With the open mainnet launch now around the corner, the PI price prediction algorithm remains bullish on the project’s future prospects. The AI expects a 2x move from PI in the early stages of the new year, with further upside potential over the next 12 months. This could precede an explosive move for PI around the time that the open mainnet goes live.