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Proposal: Dash debit card

VytautasK

VytautasK

New member
After seeing an interest from Dash community we decided to suggest integration of Dash to SpectroCoin wallet by so issuing Dash debit cards. Our proposal can be found at dashwhale, under name dash-debit-card

In addition to debit card which would be accepted everywhere where MasterCard or Visa is accepted, the project would also lead to integration of Dash to our exchange (clients will be able to exchange Dash to fiat, even buy it with debit or credit card) as well as integrate it to our payment processor, so merchant will be able to accept Dash and receive fiat as well as benefit from plug-ins for Drupal, opencart, PrestaShop WHCMS and other.

I hope you will support our proposal.
 
alex-ru

alex-ru

New member
Is it possible for you to issue cards with "DASH" brand printed on it?

Could you please provide more information about your company - statistics, whether SpectroCoin is popular or not (comparison with similar "crypto-cards" companies) and so on...

Thanks!
 
VytautasK

VytautasK

New member
No, that would not be possible.

We are incorporated in UK and Lithuania, we have a team of 10 people of whom 6 are developers, we are mainly working with clients in Europe, we have more than 30,000 clients at this day. Comparing to over companies, we are not only a card company, we are also a wallet, exchange and a payment provider. Our costs are lowest in the markter, we only charge 0.5EUR per virtual card and 8EUR for physical.

We are also during a research, we are working with SWIFT institute regarding usage of blockchain for securities transactions and etc.
 
raganius

raganius

cryptoPag.com
Foundation Member
Masternode Owner/Operator
Labas!

Great to see DASH in Lithuania! I love this country! *

35at2j8.jpg


* edit: I confess, that explains my name :smile:
 
InTheWoods

InTheWoods

New member
Foundation Member
There are companies looking into Dash debit cards already. I don't think Dash should pay for this. Not even that but Dash debit cards that pay a fat +7% interest are coming. A standard debit card is not really what's needed here, especially as we're getting this anyways in a better format.
 
alex-ru

alex-ru

New member
InTheWoods said:
There are companies looking into Dash debit cards already. I don't think Dash should pay for this. Not even that but Dash debit cards that pay a fat +7% interest are coming. A standard debit card is not really what's needed here, especially as we're getting this anyways in a better format.
Click to expand...

Interesting... Is it reliable information?
Where is it possible to read more about it?
 
VytautasK

VytautasK

New member
alex-ru said:
Interesting... Is it reliable information?
Where is it possible to read more about it?
Click to expand...
Two things: firstly 7% interest rate already looks suspicious, how are they going to invest money etc. Sencondly, how many card providers do actually have their own bitcoin wallet (web, mobile) and merchant tools as well.

Plus it seems that these guys just have an idea, not a working product.
 
InTheWoods

InTheWoods

New member
Foundation Member
VytautasK said:
Two things: firstly 7% interest rate already looks suspicious, how are they going to invest money etc. Sencondly, how many card providers do actually have their own bitcoin wallet (web, mobile) and merchant tools as well.
Click to expand...

It's not suspicious at all because it would be tied to Masternodes, which have a 10-15% ROI.
 
itscrazybro

itscrazybro

New member
Awesome stuff guys, I will definitely be supporting this! Although there may be the case to say we shouldn't have to pay for this, due to other debit card providers looking to integrate, I do think that it is wise to support the first integration. We then can look at declining further proposals because we already will have a debit card provider.
I must say the timing of this proposal is uncanny, I was literally hours away from releasing this article http://dashmasternode.org/the-future-of-finance/, on exactly this subject. Was just going over it with InTheWoods and splawik21 before releasing it so here you are, enjoy :)
 
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A

akhavr

New member
I like this proposal, but, being a developer, I'd like to ask how exactly would the funds be used. Since you already have the bitcoin (and I was under impression that you have integration with other coins too, btw), what would be the tasks to implement the integration? Would be there a liquidity pool that would plug your exchange, which means you'd have to have a sufficient depth and liquidity on each of DASH/fiat markets? Or would you go simpler way through something like shapeshift.io?

Feel free to PM me, if you'd like to drive deep :)
 
VytautasK

VytautasK

New member
akhavr said:
I like this proposal, but, being a developer, I'd like to ask how exactly would the funds be used. Since you already have the bitcoin (and I was under impression that you have integration with other coins too, btw), what would be the tasks to implement the integration? Would be there a liquidity pool that would plug your exchange, which means you'd have to have a sufficient depth and liquidity on each of DASH/fiat markets? Or would you go simpler way through something like shapeshift.io?

Feel free to PM me, if you'd like to drive deep :)
Click to expand...

We will go a hard way and integrate DASH fully without intermediaries. Regarding exchange, we will try to create a liquidity pool as much as possible (also adding our own funds), but I believe sometimes we will have to settle at other places to if there will be a huge dismatch. Business wise, we assume these funds to pay for the development of our dash client and integration of it in parallel to bitcoin, however, we will have allocate funds for exchange and etc.
 
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