Big day today as we shook hands on a joint venture with Mark Flack, Director of the Small and Medium Enterprise Association of Australia.

In operation since 2011, Smea is a non-profit whose mission is to connect, support and promote Australia’s 2 million small and medium size enterprises, which together account for 95% of all business in Australia. Smea has over 30,000 business members, over 4,000 of whom attend monthly networking events around the country.

Smea have just launched a B2B marketplace to enable commerce across this community and see Incent as the means by which they will stimulate it.

Phase One will be to integrate Incent within this marketplace, which will enable all of their member businesses to launch and market their products and services to one another, with Incent offered as an enticement to trade and accepted at discount to regular cash.

The expectation is that this functionality, when coupled with Incent’s e-commerce enabled wallet, will stimulate B2B commerce and make possible a strategic expansion into B2C commerce — allowing Smea to dispense with their membership revenue model and open up access to anyone.

This will present Smea with the means to leverage their existing membership to attack and disrupt existing commercial directories like Yellow Pages, who have rested on their laurels and whose applications just haven’t kept pace with technology.

In the meantime, the opportunity that this joint venture presents for Incent is difficult to overstate. At a sweep, the power of Incent will be rolled out across Australia’s sme community, with opportunities to embed our applications within members’ core applications and points-of-sale as awareness of Incent’s utility as a commercial stimulant grows. In the meantime, crypto will be flowing into the hands of Australian businesses and consumers in a way that adds value and makes sense. And of course, this will only increase demand for the Incent token on secondary markets.

Partnership with Smea will give Incent the means to expose tens of thousands of businesses and hundreds of thousands of ordinary Australians to the power of ‘open value’, that crypto-currency makes possible.

This is the mission that has driven us from Incent’s conception and we took a big step towards realising it today.