Will do, many thanks again.
1 Like
@cameron-tally that sounds great! I was wondering if it would be possible for Tally to provide a daily market report on the performance of gold, no matter how brief, to give an indicator to customers of how and why it has performed in such a way? Thought this might be a nice touch.
Thanks @olivermbd we probably wouldnât do this in any commentary form because it starts becoming about gold investing, rather than saving/sending/spending money in a form that is accountable, asset-based and designed to hold its value.
However, we are considering including live information around the price of Tally equivalent to GBP (or other local fiat currency as we expand jurisdictions) and weâll consider what functionality to include for customers around that.
I should add that gold enthusiasts and gold investors are two audience segments we want to see using Tally (among other audiences).
@cameron-tally yes that is understandable. So, perhaps in the future there could be two sides to the Tally platform developed? One which focuses on day-to-day spending, and another for gold investment? I made an investment in gold a few weeks ago using tally because as I said earlier it was cheaper than using an ETF. So, potentially this could be another avenue to go down? Perhaps an added fee for the investment side of using tally with added benefits?
Youâve touched on an area @olivermbd that weâve spent a lot of time deliberating on. Tally is a super effective and inexpensive way for someone wanting physical gold ownership as an investment or just a store of value. And indeed we think, as Tally becomes more widely known, many of those people will gravitate towards the product (and in time as it becomes apparent the vast gap between gold instruments such as ETFs and futures, as opposed to real gold sitting in a vault).
But Tally is not just gold, it is physical gold converted into a digitised form designed for use as money. Gold is a great store of value, but Tally is a great store of value and super medium of exchange (which is where it competes with fiat currency).
In any case, after establishing Tally in the banking and financial sector, there will be other products and services that we plan to bring on for customers.
Afternoon Cameron,
i understand tally offers customers delivery of their gold. If a customer did Organise with tally to take delivery of an amount of gold, can it be arranged to be redeposited in Zurich at a later date should one want to Do so?
@cameron-tally I entirely agree, I think once people realise it is cheaper and easier to hold Tally rather than gold in an ETF - it will really take off! So finally, I had some marketing ideas. Gold has clearly performed well recently in the face of all this uncertainty surrounding the coronavirus, as it usually does, and thus I think this could be better marketed/promoted on your website/social media. I also thought a good value for money way to gain exposure to a large audience would be promoting Tally using instagram influencers such as love islanders. This is because I think there is also a novelty to Tally which many younger people perhaps in their twenties would find appealing - the concept of having a card that stores gold. There is also a huge distrust in traditional banks in that age group, following the financial crisis, and thus you may find an audience in people who simply want to rebel against the banks and use an alternative.
Get your last questions in now as we have just under 10 minutes left.
Hi @Sb990 you could request the gold in your Tally account be sold and arrange for that quantum of physical gold to be delivered to you. This would be the same as buying physical gold using another bank account you might have. If a person wanted physical gold delivered, they obviously would no longer have the benefit of Tally.
It is worth noting that under the E-Money Licence that Tally operates under, Tally can only be purchased from payment from an existing bank account (i.e. Tally couldnât directly receive physical gold at a branch for example, and then issue Tally to a customerâs account).
Tally is physical gold stored in a vault but its more than that. Tally is a form of money and medium of exchange has full utility in the banking system (whilst not being exposed to system bank risks, lending risk or inflation). Gold on its own doesnât deliver this instant liquidity for use in everyday banking or for savings.
1 Like
Your edit answered that 
Thanks for that input @olivermbd Youâve just described a couple of our other audience segments! - People who have lost confidence in the banking system or central banks setting monetary policy (i.e. interest rates and how much to expand the money supply, to cause inflation); and people who just like the new Neo Bank with a compelling USP. And it is true that as Tally is a category creator (its not fiat currency nor a cryptocurrency) that our marketing spend needs to be more focused on discussion, education and influence, rather than standard advertising, so weâre working on that. in the early months we were focused on making sure our product could deliver our proof of concept. This year weâll be able to increase our focus on communications and PR.
1 Like
Thanks everyone for discussing Tally with us and sharing your thoughts around the product. Stay safe and we look forward to speaking with you again in future.
1 Like