Hello,
I am starting up this discussion about Dash being integrated into Revolut. I'll first briefly try to explain what Revolut is followed by the reasons I believe this would benefit Dash.
What is Revolut?
https://en.wikipedia.org/wiki/Revolut
Revolut is a global money app that includes a pre-paid debit card (MasterCard), currency exchange, and peer-to-peer payments. Revolut currently charges no fees for the majority of its services, and claims to use interbank rates for its currency exchange.
https://revolut.com/nl/?lang=en
Essentially Revolut is a contemporary bank. All you need from a bank inside an application and a debit card. No fees, free European IBAN account, sending money to contacts that also have Revolut for free and other features you can explore with the links above. Feels and looks like a centralized version of Evolution.
Why are you talking about a centralized company in the forums of one of the most successful cryptocurrencies out there?
Allow me to share my personal experience. I am a Cypriot citizen, up until recently I was living and working in my home country and slowly accumulating Dash using SEPA Transfers through my bank (Bank of Cyprus) to Kraken. You don't have a lot of options for getting into crypto around here. No Crypto ATMs, no Localbitcoins users that I am aware of (at least last time I checked) and basically no other services for converting FIAT to crypto. The only channel available was doing a SEPA transfer to one of the exchanges. Most people around here are oblivious to crypto (unless you want to count the terrible experience of Neo). That also includes banks. Oblivious banks = Unrestricted SEPA = Happy Crypto nerds buying crypto. The situation changed recently. Cyprus SEC issued warnings about the dangers of Bitcoin and Crypto. One example affects the Forex companies as you can read below:
https://cointelegraph.com/news/comp...us-sec-to-international-forex-bitcoin-traders
The problem did not stop there. Roughly 2 months ago, early in the morning, I was called by my bank and told that one of my SEPA transfers could not proceed due to "transactions related to Bitcoin". Just like that I lost my one and only gateway to crypto and Dash. There was a small uproar on Facebook by the few people that know anything about Crypto in Cyprus but certainly not enough to change anything. I acted quickly on that day and opened an account with the only other bank available to me, COOP. To this day I believe that COOP is allowing SEPA transfers to exchanges but it could easily change like BoC did.
Why does your story matter?
It serves as an example of situations multiple people can find themselves in. In my particular experience I was in a country with no available services for getting into crypto except by my bank. Depending on bankers is not a good situation to be in.
I imagine that a lot of crypto and Dash enthusiasts all around the world face similar problems. Lack of options for converting their FIAT to Dash.
This is where Revolut comes in. A few weeks ago Revolut announced that they are going to implement cryptocurrencies as well. You can read about it in their medium post by their Platform Lead Engineer:
https://medium.com/revolut-engineer...ng-the-way-with-cryptocurrencies-462df9c822b1
Since Revolut supports most parts of the world and their top-up methods act like purchases with the amount appearing seconds after you top up in the app, this could lead to an instant way of acquiring crypto, without the need of a traditional bank in the way, almost globally. It could act like Circle pretty much. There is tremendous potential here for Revolut and for Dash.
Furthermore, you are at least using a bank that aligns with the interests of the users since the integration of cryptocurrencies in Revolut was inspired by the community (I may or may not have played a role here
).
The only problem is that if you read the article above you will see that Dash is missing from the coins that are going to be supported on Phase 1 of the roll-out.
I would like to change that. I can put forward a proposal that asks the Masternodes if they agree with pursuing such a collaboration and integration with Revolut but that is the extend of my powers.
In case the proposal passes we will need a party to be formed to go after this collaboration. By posting here I am trying to gain attention of key players of the Dash Community and Dash Core (e.g. Daniel Diaz) for forming that kind of team.
What are your thoughts? Do you believe we should go for this Integration?
I would appreciate if Dash Core team members gave their own insight as well.
Cheers.
I am starting up this discussion about Dash being integrated into Revolut. I'll first briefly try to explain what Revolut is followed by the reasons I believe this would benefit Dash.
What is Revolut?
https://en.wikipedia.org/wiki/Revolut
Revolut is a global money app that includes a pre-paid debit card (MasterCard), currency exchange, and peer-to-peer payments. Revolut currently charges no fees for the majority of its services, and claims to use interbank rates for its currency exchange.
https://revolut.com/nl/?lang=en
Essentially Revolut is a contemporary bank. All you need from a bank inside an application and a debit card. No fees, free European IBAN account, sending money to contacts that also have Revolut for free and other features you can explore with the links above. Feels and looks like a centralized version of Evolution.
Why are you talking about a centralized company in the forums of one of the most successful cryptocurrencies out there?
Allow me to share my personal experience. I am a Cypriot citizen, up until recently I was living and working in my home country and slowly accumulating Dash using SEPA Transfers through my bank (Bank of Cyprus) to Kraken. You don't have a lot of options for getting into crypto around here. No Crypto ATMs, no Localbitcoins users that I am aware of (at least last time I checked) and basically no other services for converting FIAT to crypto. The only channel available was doing a SEPA transfer to one of the exchanges. Most people around here are oblivious to crypto (unless you want to count the terrible experience of Neo). That also includes banks. Oblivious banks = Unrestricted SEPA = Happy Crypto nerds buying crypto. The situation changed recently. Cyprus SEC issued warnings about the dangers of Bitcoin and Crypto. One example affects the Forex companies as you can read below:
https://cointelegraph.com/news/comp...us-sec-to-international-forex-bitcoin-traders
The problem did not stop there. Roughly 2 months ago, early in the morning, I was called by my bank and told that one of my SEPA transfers could not proceed due to "transactions related to Bitcoin". Just like that I lost my one and only gateway to crypto and Dash. There was a small uproar on Facebook by the few people that know anything about Crypto in Cyprus but certainly not enough to change anything. I acted quickly on that day and opened an account with the only other bank available to me, COOP. To this day I believe that COOP is allowing SEPA transfers to exchanges but it could easily change like BoC did.
Why does your story matter?
It serves as an example of situations multiple people can find themselves in. In my particular experience I was in a country with no available services for getting into crypto except by my bank. Depending on bankers is not a good situation to be in.
I imagine that a lot of crypto and Dash enthusiasts all around the world face similar problems. Lack of options for converting their FIAT to Dash.
This is where Revolut comes in. A few weeks ago Revolut announced that they are going to implement cryptocurrencies as well. You can read about it in their medium post by their Platform Lead Engineer:
https://medium.com/revolut-engineer...ng-the-way-with-cryptocurrencies-462df9c822b1
Since Revolut supports most parts of the world and their top-up methods act like purchases with the amount appearing seconds after you top up in the app, this could lead to an instant way of acquiring crypto, without the need of a traditional bank in the way, almost globally. It could act like Circle pretty much. There is tremendous potential here for Revolut and for Dash.
Furthermore, you are at least using a bank that aligns with the interests of the users since the integration of cryptocurrencies in Revolut was inspired by the community (I may or may not have played a role here
).The only problem is that if you read the article above you will see that Dash is missing from the coins that are going to be supported on Phase 1 of the roll-out.
I would like to change that. I can put forward a proposal that asks the Masternodes if they agree with pursuing such a collaboration and integration with Revolut but that is the extend of my powers.
In case the proposal passes we will need a party to be formed to go after this collaboration. By posting here I am trying to gain attention of key players of the Dash Community and Dash Core (e.g. Daniel Diaz) for forming that kind of team.
What are your thoughts? Do you believe we should go for this Integration?
I would appreciate if Dash Core team members gave their own insight as well.
Cheers.
