Hi,
Every month, my rent, phone bill and recurring payments are directly withdrawn from my bank account. This allows me to save time and to not have to manually repeat the steps necessary for this every month, which would be extremely time consuming...
I'm not sure if this already exists, but would it be possible to setup recurring automatic payments to specific addresses from within the Dash wallet? (for example pay every month, year, etc...)
I think it would be a wonderful and important feature to allow automatic recurring bill payments from within the wallet.
I'm thinking along the lines that you would set it up, lock it in with your password and could cancel it anytime you wanted by unlocking it with your password. There could be a section of the wallet assigned to recurring monthly-yearly payments. This would also provide a convenient one place to do all payments and one place to review all payments.
The issue I can see arising from this discussion is that the value of the Dash will change with time according to market conditions over time. So the amount of Dash sent each payment would be variable. There is an easy solution I think:
The solution to this might be to have the wallet verify the current market value of Dash on the main exchanges and to send out a calculated amount of Dash that corresponds to the amount of the monthly-yearly bill... dated. A one stop place to pay all your bills and to manage your budget and bill payments. Then, the receiver could convert them himself if he wanted to, or this could automatically be done if a conversion system was employed (as a third party probably, kind of like what paypal is doing with bitcoin, here is also an opportunity for business creation, a Dash bill conversion service, with lower fees than bank accounts...
Of course this is just feeling the earth a bit and would have to be refined as an an idea for implementation. Eventually if people are going to pay their bills with Dash, i think they need to be able to automate recurring payments like with bank accounts. Thanks!
Every month, my rent, phone bill and recurring payments are directly withdrawn from my bank account. This allows me to save time and to not have to manually repeat the steps necessary for this every month, which would be extremely time consuming...
I'm not sure if this already exists, but would it be possible to setup recurring automatic payments to specific addresses from within the Dash wallet? (for example pay every month, year, etc...)
I think it would be a wonderful and important feature to allow automatic recurring bill payments from within the wallet.
I'm thinking along the lines that you would set it up, lock it in with your password and could cancel it anytime you wanted by unlocking it with your password. There could be a section of the wallet assigned to recurring monthly-yearly payments. This would also provide a convenient one place to do all payments and one place to review all payments.
The issue I can see arising from this discussion is that the value of the Dash will change with time according to market conditions over time. So the amount of Dash sent each payment would be variable. There is an easy solution I think:
The solution to this might be to have the wallet verify the current market value of Dash on the main exchanges and to send out a calculated amount of Dash that corresponds to the amount of the monthly-yearly bill... dated. A one stop place to pay all your bills and to manage your budget and bill payments. Then, the receiver could convert them himself if he wanted to, or this could automatically be done if a conversion system was employed (as a third party probably, kind of like what paypal is doing with bitcoin, here is also an opportunity for business creation, a Dash bill conversion service, with lower fees than bank accounts...
Of course this is just feeling the earth a bit and would have to be refined as an an idea for implementation. Eventually if people are going to pay their bills with Dash, i think they need to be able to automate recurring payments like with bank accounts. Thanks!
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