Existing Point of Sale Dash Integration

Acedian

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As the title suggests I wish to discuss the best way to add Dash to existing Point of Sale (PoS) systems.

In the UK a lot of of retailers already have SagePay devices or similar that has a display capable of presenting a QR code. The hardware is already in place then. All we need to do is approach the companies that operate these and, via a budget proposal, pay the company to accept Dash. This would only be a stop gap, a standalone unit would be a better long term solution.

I don't have the background or means to produce a standalone unit, but I feel that development should start soon.

The unit should only accept Dash, no other cryptocurrency. This is very important as it will be paid for by Dash and should only improve the Dash ecosystem.

The unit needs to interface with a fiat gateway giving local fiat to Dash and vice versa. A limit of say 50GBP like current cashback services to keep the merchants happy.

I think that a proportion of the treasury budget should be going towards researching and producing these systems. These units will be the foundation of Dash as a true digital cash. Evolution will sort out one side of the user experience, a PoS system will complete this!
 

tungfa

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tbh
that is in process already
alt38 definately did his research + another PoS is in development as far as i know

no need to throw more behind this :rolleyes:
 
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Acedian

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As far as I know, the current proposals are either limited in scope, i.e. just cannabis dispensaries, or include Bitcoin as an accepted crypto.

We need to make proposals exclusive to Dash if you want to dominate the world of digital cash.

I feel that PoS is so important for Dash that it is impossible, at this stage, to throw too much behind it.
 
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Benglian

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Scanning the POS link above, it looks mostly good.

Have you considered;
- Will the terminal have an ability to print a daily summary so the merchant cashier can reconcile the till?
- Where are the DASH 'stored' ? I see that a new account is generated on first run. What does that mean exactly? A new DASH address for the sales to be transferred to?
- Sales are generated in local currency but paid and received in DASH. How will the merchant reconcile the DASH amount to the fiat amount at the end of the day when the exchange rate will have moved? (its possible, but not normal for merchants to have to do this unless they already accept payment in foreign currency)
- How will the DASH terminal be integrated into the existing POS software of the till? Merchants currently link card terminals to the till for payments.
- This terminal is perfect for a DASH only store, but may have issues when trying to integrate into the existing fiat system.
 

kodaxx

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Scanning the POS link above, it looks mostly good.

Have you considered;
- Will the terminal have an ability to print a daily summary so the merchant cashier can reconcile the till?
- Where are the DASH 'stored' ? I see that a new account is generated on first run. What does that mean exactly? A new DASH address for the sales to be transferred to?
- Sales are generated in local currency but paid and received in DASH. How will the merchant reconcile the DASH amount to the fiat amount at the end of the day when the exchange rate will have moved? (its possible, but not normal for merchants to have to do this unless they already accept payment in foreign currency)
- How will the DASH terminal be integrated into the existing POS software of the till? Merchants currently link card terminals to the till for payments.
- This terminal is perfect for a DASH only store, but may have issues when trying to integrate into the existing fiat system.
-Yes, the terminal has a built in printer
-the dash are stored in a dash wallet of the users choice. The terminal only generates addresses for each sale
-the existing idea is that if the merchant decided they wanted to receive USD, the dash is instantly sold upon sale and total amount is deposited within 24 hours.
-there are posts on this forum where I detail the integration into existing systems. I'm the exact same way that external credit card terminals are integrated. It's a very common industry practice
 

Acedian

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I'll have more input soon, but check http://github.com/kodaxx/dashpayPOS
We need this, we need this now.
I would like to see GBP so I can start pushing this device in my local area.
If this is subsidised early on, merchant adoption should be easy. I would have no problem with 50% of the treasury budget going to put a device in the hands of as many merchants as possible.
This makes Dash in to Digital Cash!
 

Benglian

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I seem to want to pour cold water on every proposal or idea that starts up regarding POS integrations and generally where DASH touches the fiat network

:(

Integrating your services into POS is not super hard, on the face of it. A company like Paypoint is well established in the business, has a major network of POS services in the UK, and I have contacts there as I contract with them already on behalf of the company I work for
Where it becomes more problematic is when you start interacting with the fiat networks.

Because then you start to hit the draconian 4th EU AML directive that brings with it lots of regulations and requirements and penalties and fines.

Also, the EU commission commented here.

--
How can virtual currencies be used to finance terrorism and what can we do to prevent this?

Banks and payment institutions fall under the scope of the Fourth AMLD, which requires them to comply with specific rules, such as verifying customers’ identity and monitoring financial transactions. Virtual currency operators were initially not included in the scope of the Directive.

Virtual currencies are developing quickly and are an example of digital innovation. However, at the same time, there is a risk that virtual currencies could be used by terrorist organisations to circumvent the traditional financial system and conceal financial transactions as these can be carried out in an anonymous manner.

That is why the Commission proposes to bring virtual currency exchange platforms and custodian wallet providers under the scope of the Fourth AMLD, in order to help identify users who trade in virtual currencies. Bringing these two actors under the Fourth AMLD and making them "obliged entities" will ensure better controls, ensuring that they apply customer due diligence and contribute to preventing money laundering and terrorist financing.
--
My Italics

Similar AML regulations are in force the world over...

Even without these requirements, you cannot just 'ask' such a company to integrate DASH, or even pay them to do so.
They have turnover in the hundreds of millions, and while an argument can be made for DASH integration, it can't be made by a 'DASH enthusiast' who thinks its a good idea. Paypoint and their ilk would have to be approached by a bona fide other company that represents 'DASH' and whom they could contract with/get technical integration help/perform co-markteing with.

I have seen how difficult it is for these startups to gain traction although it is possible.

The more I consider the barriers to entry into the fiat world for DASH and other Crypto that are explicitly put in place by the gatekeepers of the financial systems, the more I think that Crypto will be doomed.

The only way forward it seems, is if Crypto doesn't try and integrate into the fiat economy, but remains separate and distinct and people earn and spend DASH without hitting fiat networks...and we are a long way from that.
 
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Acedian

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Did the terrorists responsible for 9/11 get funded by crypto? No. The money trail lead back to the US, but that is another story.
Saying that crypto can be used to fund terrorism is a weak argument. The same ways in which "cash" criminals are pursued are valid.
The claim is vacuous and is just the traditional monetary system winners trying to smear crypto.
 

Benglian

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Did the terrorists responsible for 9/11 get funded by crypto? No. The money trail lead back to the US, but that is another story.
Saying that crypto can be used to fund terrorism is a weak argument. The same ways in which "cash" criminals are pursued are valid.
The claim is vacuous and is just the traditional monetary system winners trying to smear crypto.
You are of course, correct.
But this is a rational argument.

Government regulations and laws aren't driven by rationality, they are driven by their ability to keep those in power, in power.

Try your rational argument in front of the judge as he is about to pass sentence...
 

Acedian

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Maybe Dash should fund a counter campaign :D
 

jimbursch

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The only way forward it seems, is if Crypto doesn't try and integrate into the fiat economy, but remains separate and distinct and people earn and spend DASH without hitting fiat networks...and we are a long way from that.
True dat.

Fiat governments and their taxing authorities will ALWAYS be hostile to cryptocurrencies with strong privacy features, and their best and only point of attack is at the fiat/crypto gateways (exchanges). Speculators are going to be in for a cold slap in the face when the authorities start seizing exchange accounts and demanding withholding of capital gains tax. They will be sitting there at the fiat exchange, waiting for people to come out of the dark crypto, like a predator in the bushes at a watering hole.

The best use cases for Dash are the historically cash-driven economies, which have always been on the margins of the mainstream economy.
 

Benglian

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The trouble is that the cash driven economies, certainly in the developing nations, might not have ubiquitous internet access....
 

Acedian

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Speculators are going to be in for a cold slap in the face when the authorities start seizing exchange accounts and demanding withholding of capital gains tax.
I happen to reside in a country without "capital gains tax".


The trouble is that the cash driven economies, certainly in the developing nations, might not have ubiquitous internet access....
This is a concern as crypto is of most benefit to people in countries with unstable fiat currencies.