Thanks for the feedback - It's a good point. We've based the initial layout off of Coinbase and whilst they do many things right they're far from perfect. We'll be developing all of these as react components so we'll be able to shift them around as necessary (at some point maybe even giving the user the power to customise their dashboard).Do you think a dash price chart on the dashboard is best suited to your customers? Or might it better to show the customer's monthly buying and selling?
With two months of full-time work into the eWallet exchange application, it's time for the first update from the development team. That's just me for now due to budget constraints. Despite that, we've made good progress all round. Here's a rough breakdown of the aspects:
- Application scaffold
- Exchange rate aggregation from numerous sources
- Identity validation document upload with manual verification
- Rough exchange browser application (built with react)
- Bizops browser application
- Integration with a dash node running on the test network
- Partial integration with two credit card processors
- Utilisation of the amazon simple email service
While the actual code isn't production ready at the moment with very few tests, the above provides the full flow of functionality when using the testnet and payment sandboxes.
This means a test user can:
1) Visit our development version of the exchange site.
2) Request a new order for dash.
3) Receive a responsive email with the link for identity validation.
4) Upload KYC docs and wait for confirmation email.
5) Make a test payment with fake card details.
6) See the dash client notification that the transaction has been submitted and is awaiting blockchain confirmations.
The next month I'll be working through refactoring areas of the codebase which are not very maintainable, writing tests, focusing on how all the various errors will bubble up to the user with well written responses - essentially a lot of sanding down the rough edges and generally trying to bring it to you as a high-fidelity demo for your feedback.
We were in two minds whether to host what we have so far on an aws instance so you could have a play and recieve some test dash, however the current UI was created purely for testing.
We'd rather manage expectations for now by showing you what it will look like without functionality as opposed to a usable demo without sleek and sexy asethetics.
So that's it for my first write up, thanks for reading.
My next scheduled update will be at the end of June along with a useable demo before the August full launch.
Thanks for the feedback - It's a good point. We've based the initial layout off of Coinbase and whilst they do many things right they're far from perfect. We'll be developing all of these as react components so we'll be able to shift them around as necessary (at some point maybe even giving the user the power to customise their dashboard).
In terms of the feedback we initially were reaching out to people with questions as we went but our thinking at the moment is as we're revising and reiterating a lot of what we're doing it makes sense to compile a feedback survey for users to complete in their own time towards the end of the initial build which will inform our layouts & offering a bit more.
On this one though, what do you think the most important components would be and what order should they be in? Here's our list thus far:
Transaction Record (Line graph)
Transaction Record (List format)
Account Holdings (Dash/Gbp, Line graph)
Account Holdings (Pie)
Account Holdings (Static Info)
Dash Value Tracker
Dash Conversion Tool
Good suggestion - we did consider using the shorter TLD. As you point out, in terms of awareness its just not there yet - I also prefer the shorter extension and I'm sure in time it will be more utilised as larger brands make the switch. Trust is key for us and a lack of awareness of the .UK top level domain and trust that is associated with .co.uk (all major UK banks for example) makes us feel its not quite right for us just yet.Quick thought.. do you think perhaps it would be better to market it as eWallet.uk instead of the legacy .co.uk? Obviously both domain suffixes should point to the same place, but I mean in terms of marketing. It's true not many people have switched to the newer / shorter extension, but personally I prefer the shorter extension.
I agree, it's a lot of friction and definitely slowing down adoption - but it's going to be crucial that we're showing effort to be as compliant as possible when it comes to banking etc. We've been trying to figure out future plans and one consideration was to add a shapeshift/changelly equivalent to our platform at a significantly reduced fee from theirs. Then our users would have the option of paying with GBP or their other crypto (and this other crypto avenue can be opened up internationally). Fortunately this wouldn't require any AML/KYC steps so would be a lot more smooth a process. Also we've developed a fair bit of the functionality required for this for the initial product.I realize when it comes to compliance you don't have a choice but, personally, I hate all that email collection and identity stuff. I know I'm not alone. Imo, this regulatory stuff is seriously slowing down adoption. I imagine, the moment you get to the ID / selfie stage, you will get a lot of dropouts.
My 2p - Don't take people's money and then magically require ID, that comes across as dirty behavior. Also, don't put urgency on getting ID done within 15 mins, it would probably lead to more dropouts.
For me, you need to be totally upfront with the requirements. Before they sign up, make it clear what the limits are and what documentation is required for each level of verification.
Btw, what IP range is your email server? I block more than 53K IP ranges, including many microsoft servers and even some mailing services like The Rocket Science Group.
Yes, AWS is fine as they have a decent spam reporting process.I agree, it's a lot of friction and definitely slowing down adoption - but it's going to be crucial that we're showing effort to be as compliant as possible when it comes to banking etc. We've been trying to figure out future plans and one consideration was to add a shapeshift/changelly equivalent to our platform at a significantly reduced fee from theirs. Then our users would have the option of paying with GBP or their other crypto (and this other crypto avenue can be opened up internationally). Fortunately this wouldn't require any AML/KYC steps so would be a lot more smooth a process. Also we've developed a fair bit of the functionality required for this for the initial product.
We would definitely inform everyone of the steps involved, but potentially getting that financial investment up front will weed out the less committed and reduce our ID verification overheads - maybe it's something worth split testing.
Absolutely with you on the threshold communication, we'll get that in place for launch.
We're using Amazon SES for transaction emails, we can have a dedicated IP for this to manage / protect our sender reputation. For the beta sign up and some related marketing functions we're using mailjet, we'll be monitoring delivery / open rates for both transactional and marketing emails.
Thanks again for your help GMD
In the last few weeks before we launch I felt it was important I gave you an update to let you know what we're working on at the moment. Hopefully you have seen the June update video which includes me walking you through the application from both a user and admin perspective.
Despite the funding depreciation and being unable to take on a front-end developer, we've managed to soldier on and have made really solid progress all round. With the visuals being provided by Ash, the front-end is now being coded by myself as well as the back-end as the sole developer, but as Fred Brooks once said: "What one programmer can do in one month, two programmers can do in two months."
You may have seen our public demo, but if you haven't yet, please check it out here:
This is running on the testnet and as you go through the process the application will suggest a testnet address (for donating the tDash back to a faucet) though you're welcome to use your own testnet address to see the transaction. We'll also supply you with sandbox credit card details to go through the full process. We've already identified a few issues from this public test and we welcome you all to test it and see if you can break it - better you do that on staging than live!
Our current focus is mainly around fixing any last issues and then polishing the application UX to make it ready to go live at the end of the month. We're launching quietly as we really want to test with a small pilot group of users before we open the throttle on our marketing.
That said, the application has been designed with numerous protections to ensure that there are no issues - currently all transactions and user validation requires manual approval by an admin and we can disconnect the Dash node in any instance where we have concerns.
We've also had a couple of queries come through about this application, so I've put a little Q&A below.
Q: Why do you require photo ID, proof of address and a selfie?
A: At the moment it's important our security and compliance is done at the highest level, we may be able to relax these requirements for smaller amounts in the future and there will be no requirements for crypto-dash pairings when we add those.
Q: Do I have to prove my ID for each order?
A: No, ID Verification is attached to your email address, we're actually creating an account on the back end for each user and in future you'll be able to login and see all your orders and a full dashboard
Q: How long will you take to validate ID?
A: The three of us are alerted by a discord bot and by email whenever there new orders waiting etc, we'll hopefully be able to turn around ID validation within a few minutes during the day time
Q: Will you be adding an off-ramp for those selling Dash?
A: Yes, this is one of our first post-launch goals.
That brings me to future plans, as Ash has mentioned our goal is to add quite a few more features to eWallet as well as open it up internationally. We're looking also at providing further up-stream services through an API - our system could be integrated into Dash wallets which would provide an extra revenue source for developers as well as make it really easy for newcomers to get their first Dash (right within the application)
Thanks for reading, please ping any questions you have my way.
We're hopeful, otherwise we'll carry on pursuing those 3 other options and then more from there. We will crack this. D-A-CH have also mentioned support from their bank and we could end up moving into Europe first, though ideally I want to focus our initial launch on the UK.Isle of Man might work out, it's home to companies like FinecoBank