Dash as world money transfer for unbanked people

[carlomile2]

Things can be done if there's local people in home country that willing to accept Dash and pay fiat to beneficiary.

So basically it almost the same as my pre-proposal but it required someone in home country that having basic knowledge and a bit capital to accept / buy Dash from sender ( somewhere in foreign country ) and pay it to beneficiary ( local bank account ).

I think it can be done as long we have someone as mentioned above. We might can start with one single person first to do the transaction and later spread to a lot of people by spread the word about how can the person help people in home country with a bit of fee.

As per my personal experience, i have been doing so for quite some time using Bitcoin but the problem is the shrinkage on value is quite high due to some reason. That's im thinking about what am i planning now.

What do you think @carlomile2 ?

Yes i see your point, but it like someone selling Dash to fiat in the Home country but it will able to do only this transaction i mean selling so like that it a bit hard and can stop one days when this people don't have Dash to sell and how they will purchase Dash will the fiat that he gives to these people, so i think that this service must be done with a cooperation, like you can have it in your proposal. and i think that my ideas is good and will have a lot of benefit to both Dash and these people like

It will help with the adoption more fast and people can before see some benefits of Dash. and more after.

 

[amzar]

Hi Carlo !

Actually we do have an experience paid to bank ( intermediary ) quite a lot of money to transfer abroad and I know how it hurts Haitian though.

As for our platform, we think that we can help you to provide a solution to Haitian living abroad to send the money to local without need to know Dash at all.

The only things they will have is Haitian Gourde in their hands for the beneficiary.

But we will need to get people to acting as 'agent' to pay Haitian Gourde to local.

If you can encourage people to become an 'agent', our platform will be really suit to you then.

Its not selling Dash in local. Its buying Dash from oversea ( any Haitian in foreign country ) but pay them in local Haitian Bank.

And then, the agent can simply re-sell the Dash to another party who want send the money again ( the same step as above ) or any party who want to make it an investment.

This can be a very first for an exposure and awareness about Dash to local.

Regarding people dont have Dash anymore is not an issue Sir as 'agent' will rotate the first and second step over and over again.

I can show you how it works with Dash Sir ( as we have quite some experience on how it works due to our industry need us to pay abroad as well )

Hopefully it will be quite fruitful answer for you Sir.

Please advice Sir.

Thank you

 

[UltimateCrypto]

Great topic, Even in West Africa almost all remittance system don't support us. Imagine you can receive money from western union in Ghana but you can't send money through the same platforms.
Our credits card have to be confirmed before making transaction.
I think Dash community should create a platform for the unbanked and create competition with this remittance systems.

 

[Koromoto]

It has nothing to do with IQ for crypto currency adoption, it has to do with simplicity. M-Pesa in Kenya demonstrated it was super easy to send money from one phone to another and started a payment revolution by just entering a phone number, amount, and sending an SMS.

So the pain points are complexity, which is solved with a smart wallet and vanity numbers, conversion and volatility which is solved with local Dash Tokens tethered to the local fiat, and instant transactions, solved by the DASH network.

This is another example of the need for Dash Tokens tethered to local currencies. There is a bright future for the unbanked.

 

[studioz]

what Fiat do Haitians hold in Haiti ? US Dollar or Haitian money ?
the problem is the fees , what fees would you charge someone to exchange Dash to Fiat ?

 

[carlomile2]

So we hold both, like me and most of people that have a work here and in an good economic class have a Bank account in US. and gourdes, so the exchange rate is normal, like today the rates are 1 USD = 62 when you are buying it and 64.35 when you are selling it. So i don't know that can be a problem so we are using both. So guys i am so exited that Haitian can have this financial freedom with Dash.

 

[AfricanB]

Before even considering "serving the unbanked" crypto has to become much more user friendly. They are often illiterates, uneducated and with average low IQ, they're not going to use cryptocurrency at all. Show crypto to a bunch of IT professionals and they'd be hesitant to put $100 there, to expect these unbanked to put their monthly salaries is just wishful thinking.

Dash does not have a product for "the unbanked". Dash does not have a product for people with no education, computer illiterates and low IQ. We shouldn't make any attempt to market or "promote awareness" there because it'll be a waste of resources.

If and when Evolution comes, if it's easy enough, then we should consider.

Africa has 277 Million mobile money accounts many of these are used by low IQ, with no education, it is very easy to use a an app when thier is cash involved.

 

[AfricanB]

There is need for an exchange that focuses on rural operators / individuals ( I kind onf local bitcoins ) this would spur entrepreneurship in the rural areas.
Emerging market economies are very savvy in handling mobile money transactions and more than 50% of the population is under 25.
The remittance market will soon be consolidated to a few players within the next 10 years

 

[AfricanB]

We got a mention of DASH AFRICA https://dash-africa.com/xperien-cycling-project/#comment-36

 

[Santos Bermúdez Ruiz]

As a Venezuelan, I believe this to be completely true. In our country there are many financial limitations imposed by the economic politics of the government and DASH give us an opportunity of financial freedom

 

[carlomile2]

Yes @Santos Bermúdez Ruiz So it same here and a lot of others country in the Latam, so what i suggest is to create a Dash service where people can easily send payment to their family, even the beneficiary don't use Dash but he can receive it from a representative like traditional do it.

 

[mary_george]

For Dash system, Africa or nations where the phone is utilized as a payment arrangement ought to be the best need. Most countries are also using MTFX as a payment method.

 

[DirtyExpert]

Guys, so you are now talking about unbanked people to use Dash, so my point was about money transfert, not for unbanked to use Dash, so i think some effort must be done before or we will wait with the evolution. So i expect like you that traditional money transfer are making million and for that, i think that Dash can show a solution and with this industry where million are making by these traditional service provider, so i think that a solution can be up with dash, so ppl don't need to use Dash but the transfer will make into Dash system, so the sender pay in fiat and the money will convert in Dash and another service at local will convert it in local currency, so the people don't need to know dash then. and i think that the fee surely will reduce.

All you need is a cash broker on each end. They will buy and sell the dash used to send between family members. It's that simple

 

[carlomile2]

You think that is so simple, and this broker will be the same ? So it use it as a gateway at first, and after i think thats will put these ppl in Dash and they can make a wallet and hold their Dash, So WU don't allow ppl to send 500k usd, and anyone in any part of the worl now with this system can send it, and pay less fees, So i have this project in mind and i see that it will be good for ppl in my country, yes all is a broker, but this broker i think it can be a company represented in the supported country by the system by some agents.

 

[DirtyExpert]

You're saying "unbanked" but I'm guessing that's not entirely accurate, folks may not have a high street bank account but I'm betting they do their banking with someone, maybe a family member or someone well known that looks after the bulk of their savings or is in a position to loan. In other words shadow banking, illegal in many parts of the world but huge none the less and an area of huge potential for cryptocurrency imho.

Not an easy area to get into, usually hidden from public view and often a generation that's uncomfortable with new technology but often people who could teach leading economists a thing or two about money and would see the potential of Dash immediately. Bottom up, pure grass roots. Get that elderly uncle that looks after the families money or the folks down the street who's been providing loans to your family for generations handling remittances, I've no doubt they'll thank you for it and charge a hell of a lot less than any highstreet bank. It would have been impossible just a few short years ago, now it's relatively simple, usually fairly easy to exchange the paycheck for Dash, the only hard part is how to use it after sending it back home and if shadow banking's handling that it wont be long before regular folks are accepting it.

Thank you, you said that much better than I could have.

 

[DirtyExpert]

You think that is so simple, and this broker will be the same ? So it use it as a gateway at first, and after i think thats will put these ppl in Dash and they can make a wallet and hold their Dash, So WU don't allow ppl to send 500k usd, and anyone in any part of the worl now with this system can send it, and pay less fees, So i have this project in mind and i see that it will be good for ppl in my country, yes all is a broker, but this broker i think it can be a company represented in the supported country by the system by some agents.

I wouldn't say simple but yes it is that easy. You only need someone with a relatively small amounts of capital and good connections to the "black" market and you are all set. The fees will vary based on what people will part but I bet it's still better than giving it all to the government

 

[DirtyExpert]

I am sorry I will try to explain better; In my explanation I will use a situation I am familiar with. In California we have a massive agricultural market, with annual revenues of billions and billions of us dollars. A substantial portion of the labor involved is not entirely legal and recently come under fire from our new presidents policies. Where previous presidents were increasingly more lenient on enforcement this one is cracking down. So its back to the old cash pay system they used for who knows how long. This creates a security risk as well as leaves only two current options for sending money home to their families, which is where some 75% of these wages go. A smart guy with a little money could buy say 50 Dash and sell it for cash to these laborers who would then send it home to their families. It would not take long before a savvy person near these family members would begin buying the Dash from said family members for the local fiat currency, charging a 1% or 2% fee of course. You could take a step further and have the Labor contractors do their payroll in Dash further streamlining the operation as well as obscuring payments to illegal employees cutting down on the number of robberies and violence caused by hundreds of thousands of dollars in cash injected into a largely illegal community. I hope my analogy helps.

 

[carlomile2]

Yes i see, guys you don't live in these situations but people in third country need this a lot and i think that cryptocurrency will be more helpful for them, because they are the first victim of centralisation, i live in this situation i know them. So dash aim to be a friendly cryptocurrency, friendly mean that every body can use it, my granma also. So a project like that to implement in these country will help them to first solve the acces to get money from their relatives more easy. and a lot of others stuff. But in this topic i want to take your idea guys and how you think that can be true. how the Dash network can make or any entity a project like this.

 

[DirtyExpert]

It will require capital to start. Do you have the money to start?

 

[carlomile2]

Do you know the DAO ? So The funds are here to support any projects in the benefits of dash.