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Dash as world money transfer for unbanked people

Any crypto currency will not be a good solution for poor people cross border payments.
At first crypto currency prices are too volatile. Sometimes you can buy some coins and win but sometimes price can drop. For poor people it can be a significant amount.
Secondly we need to convert FIAT -> DASH -> FIAT. Most of such users will be not able to use exchange platforms. Thus we need some "agent" again.

I don't think you quite realize the plight many people face that live in counties with crap fiat. In veneuzuela, various estimates put the inflation rate at somewhere between 600% and 1500% per annum. You really think Dash will, on average, lose half of it's value every month? If I lived in Zim or Venezuela, I'd take that chance in a heartbeat.

Zimbabwe ran their currency into the ground so hard it is effectively worthless now.

India did a little experiment where they basically outlawed the two most common size bank notes in the war on cash (equivalent to say...10's, 20's and maybe 50's). People couldn't pay employees. People couldn't buy groceries. It was a train wreck.

The Greeks have had their hard earned savings decimated at least twice in recent memory. It's a long list.

I'm telling you, whatever crypto makes it usable on the ground in India, Venezuela and Zimbabwe first will grow their market cap by orders of magnitude. Go watch a couple videos by Andreas Antonopoulos regarding the remittance industry:


 
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.

The goal is not to convince the unbanked to put their monthly salaries into dash. The goal is to convince them to work for dash community, and be paid in dash. This is how we create a dash economy.
 
Any crypto currency will not be a good solution for poor people cross border payments.
At first crypto currency prices are too volatile. Sometimes you can buy some coins and win but sometimes price can drop. For poor people it can be a significant amount.
Secondly we need to convert FIAT -> DASH -> FIAT. Most of such users will be not able to use exchange platforms. Thus we need some "agent" again.

The goal is not to convert FIAT -> DASH -> FIAT. The goal is they stay in Dash, use Dash as their medium of exchange, and do most of their everyday life transcations in Dash. Thats why we need merchants. Thats why we need to broadcast the blockchain from space.
 
The goal is not to convert FIAT -> DASH -> FIAT. The goal is they stay in Dash, use Dash as their medium of exchange, and do most of their everyday life transcations in Dash. Thats why we need merchants. Thats why we need to broadcast the blockchain from space.
Sounds like you want to run before you can walk. Nobody is going to agree to be payed in Dash and expecting thousands of merchants to accept a weird cryptocurrency that nobody uses is fruitless.

Any usage should be encouraged, especially if it's low-hanging-fruit. FIAT -> DASH -> FIAT would be fine.

That said, I'm sad the satellite idea didn't win out.
 
That said, I'm sad the satellite idea didn't win out.
It cannot be considerd as sad, as long as it was expected, to anyone who is aware of the spies' structured methodology.

Spies are afraid of the satellite alternative, so I am neither surprised nor sad of whats happened to the satellite proposal.
 
Ok guy, i want to clarify, so isn't yet i precise for now that we will put unbanked people into dash, because i think than require some knowledge for now, but we hope with the evolution thing as promise will be more easier to use by my grandma,
But what i see that dunno we can do, is that creating a service and make the transfer with Dash, so people that send and receive don't want to have Dash so if they have it that's better but isn't necessary, and the scenario is that the sender give fiat and information about the receiver and and in the destination country like Haiti, the unbanked come to take his fiat, so some fees will be taken but not higher than traditional transfert d'entreprises, that's the point guys, and more and more people will know anther benefit of Dash and with this services, educational thing will create to educate people about Dash then so that the point and after. The unbanked people can order a card and his family send directly when he knows how to manage a card, and he can have a card and his family load for it anywhere and will cash out in ATM and pay in POS>

That's the point guys, so for me i always think about how to resolve problem in my country anr i very want a kind of service like this will implement.
 
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 ?
 
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.
 
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.
 
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
 
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.
 
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.
 
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 ?
 
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.

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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.
 
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
 
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
 
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