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Pre-poposal: DASH REMITTANCES - Increasing the supply of Dash in Venezuela

Discussion in 'Pre + Budget Proposal Discussions' started by AlejandroE, Aug 17, 2018.

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Would you support this proposal?

  1. Yes

    32 vote(s)
    84.2%
  2. No (Please let us know why so we can improve)

    5 vote(s)
    13.2%
  3. I don't know (Leave us any question you want)

    1 vote(s)
    2.6%
  1. AlejandroE

    AlejandroE Active Member

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    [​IMG]

    Hello Dash Community! We are excited to introduce you the pre-proposal for Dash Remittances - The best way to increase the supply of Dash in Venezuela!

    1- MAIN OBJECTIVE:
    Dash Remittances
    aims to increase the supply of Dash in Venezuela in an organic way, so we can scale the community, the merchants and the transactions to higher limits. Right now we have created a whole ecosystem in the country (mostly in Caracas, our capital), we have +900 merchants accepting Dash, a community that has grown up to 10k users. And now it is time to scale in order to keep Dash flowing in the economy and increase its usage.

    [​IMG]

    2- THE PROBLEM:
    Currently the supply of Dash in Venezuela is not enough to cover the whole economy.

    The current liquidity of Bolivares in the economy is aprox: Bs. 1,250,000,000,000,000. Which with a fair Bs/USD rate of Bs.1,500,000 per dollar, it gives us $833 millions. This, with a Dash rate of 150$ = 5,333,333 DASH aprox. This is a general number for the whole macroeconomy. If we can get 5% of that it would be 277,000 DASH ($41 millions).

    Currently, there are aprox $200,000 in DASH flowing in the Venezuelan economy so it is clear that we need more Dash.

    [​IMG]

    3- THE OPPORTUNITY:
    There are aprox 4 millions of Venezuelan living overseas, and 3 millions in Venezuela are receiving remittances every month. In average each remit is around $50. In 2017 within $1,2 - $1,5 billions entered to Venezuela in terms of remittances. So it is a BIG opportunity for Dash to enter this market since almost all the remits are made with a 3rd party (middleman) who charge up to 30%, they are not reliable and it takes a lot of time to complete the procedure.

    4- THE SOLUTION:
    We will teach Venezuelan living overseas how to send money home with Dash. We will use presential lectures and videos. We will show them that it is easier, cheaper and more secure to send money to their relatives using Dash with no middle man needed.

    - Where? We will start these activities in Spain. We chose it for 3 main reasons:
    1. It is the second biggest Venezuelan community (after the US), with a total of 200,000 Venezuelan living there.
    2. It is easier to buy Dash than in other countries (i.e. Kraken and Bitnovo).
    3. Venezuelan community in Spain is not so spread like in other countries (so it is easier to gather them), also in Spain people can save more money.
    - How?
    • Set up 2 weekly lectures for 20 persons each, for a total of 160 people/month.
    • Make video tutorials about how to buy Dash with Euro and how to send it.
    • These tutorial videos will be a complement of the video tutorials from Dash Help (How to use the Dash Wallet). And will e able to see by everyone for free.
    [​IMG]

    - Lectures and Alliances:
    • Teach Venezuelan how to buy Dash in Kraken, Uphold, Bittrex, Bitnovo.
    • Give them a tip of 2$ each.
    • Make a live demo of sending Dash to Venezuela throught Skype.
    • Ask people just the email of their relatives in Venezuela so we can send them a weekly newsletter from Dash Merchant Venezuela showing them where they can spend their Dash and we will ask them which are the merchants that they go often to make purchases so we can affiliate them.
    • As in our other projects, Dash Help will be the official support center for Dash Remittances, where people will be able to ask anything they want related to Dash and how to remit money.
    • Promote the use of Dash Text so people can send Dash to their family by just typing commands.
    • Dash Text integration with Whatsapp so people can use it more easily.

    5- BUSINESS MODEL AND SUSTAINANILITY:
    In case a person doesn't want to deal with the remit process (which will be very easy), we will offer the service so we to do it for them, and we will charge a small fee of the amount that wants to be remitted. The fee would be smaller than the other remittances companies so we can be competitive and in the same way we can start charging clients since the very begining.

    [​IMG]

    6- WHO ARE WE: We are the same team of:

    - Dash Help Support Center:

    - Dash Merchant Venezuela:

    - Dash Text:


    Gorka Garcia: Project Manager Bachelor of Business Administration with a Diploma in Transportation and Maritime Trade at UCAB. He worked in the administration of companies in the metallurgical sector. He lives in Spain.

    Alejandro Echeverría: Proposal owner, strategy. Mechanical Engineer, co-founder of Dash Help - Support Center, Dash Merchant Venezuela and Dash Text. He is also advisor for some teams in the Dash Community like Dash Argentina and Dash Youth Venezuela. Dedicated himself to make profitable business models (Easymed, TuGruero- https://tugruero.io/, Ctrl+C-USB). DASH Forum/Discord: AlejandroE. Linkedin: https://www.linkedin.com/in/alejandro-echeverrria-b739b1101/).

    Lorenzo Rey:
    Project Lead. I am an Electronic Engineer, CTO of Dash Help (Support Center), Dash Merchant - Massive Adoption Program and Dash Text. I am also a spokesperson for Dash in Venezuela and Latin America, I've been the speaker in Dash Caracas conferences, in Dash Youth conferences and presentations, and in events such as the Crypto Latin Fest. I've worked with Rodrigo from Dash Brasil, and with Sam Barbosa, Developer of the Dash Core Team. I've also been an advisor for many other projects such as Dash Trip, Dash Youth, Agrocognitive, and more. DASH Forum: LorenzoRey, Telegram: LorenzoRey, Discord: LorenzoReyC Ig: LorenzoReyC Tw: LorenzoReyC

    Carlos Echeverria: He´s got a degree in Business Administration from UNIMET (Universidad Metropolitana) in Caracas, Venezuela. He has been in charge of the finance and administration of all above companies as equal business asociated. (Ig: carlosjem1993. Tw: carlosjem. DASH Forum/Discord: carlosjem/ Linkedin: https://www.linkedin.com/in/carlos-echeverria-081a57a9/).

    Carlos Heinze: Production engineer from USB (Universidad Simon Bolivar) in Caracas, Venezuela. He has been in charge of the operations of customer service, call center support and logistic of all above companies as equal business asociate. (Ig/Tw: @nachoheinze. DASH Forum: Carlos Heinze. Discord: CarlosH, Linkedin: https://www.linkedin.com/in/carlos-heinze-43483ab8/).

    [​IMG] [​IMG] [​IMG]

    7- BUDGET:

    [​IMG]


    Thanks for taking the time for reading this proposal!

    Contact Information:

    Email Address:
    [email protected]
    Website: www.dashremittances.io (in construction)

    Social Networks:
    -Facebook:
    Dash Remittances
    -Instagram: @dashremittances
    -Twitter: @dashremittances

    [​IMG]
     
    #1 AlejandroE, Aug 17, 2018
    Last edited: Aug 19, 2018
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  2. akhavr

    akhavr Active Member
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    I find this line of reasoning to be a problem. If there would be a real shortage of Dash within Venezuelan economy, then Bolivar/Dash rate would be so high, so Bolivar-Dash-USD (or -EUR) arbitrage would be extremely profitable. If it is the case - there should be trails left, on a blockchain, exchange rates, etc.

    Are there any?
     
  3. Unstoppable

    Unstoppable Member
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    Are the bitnovo cards in spain still available? Are they easy to find? Tell me more about that situation. Do they work well, are they fairly priced?
     
    #3 Unstoppable, Aug 19, 2018
    Last edited: Aug 19, 2018
  4. bhkien

    bhkien Active Member
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    I am wondering why number of transactions still low when we have a lot of Dash acceptance merchants?
     
  5. AlejandroE

    AlejandroE Active Member

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    Hello bhkien, thanks for your question, we have achieved great numbers of merchant adoption and transaction volume has increased, however we are far from where we want to be, merchants understand that accepting Dash won't magically fill their stores with clients paying with Dash, but being prepared for a growing Dash economy is good for their businesess long term.

    So we've got a growing number of merchants, but we need to incentivize the users as well, this proposal is one of the most important ways to target the users, to get Dash into peoples hands so they can go and spend it in Dash accepting merchants, and which will help transaction volume to increase.
     
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  6. AlejandroE

    AlejandroE Active Member

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    Hello akhavr! thanks for your comment.

    It would only be high if that shortage was complemented by high demand for it, that's not the case yet (speaking about countrywide numbers), currently, if you look at the numbers compared to other cryptocurrencies, Dash is the most successful yet in Venezuela, but remember that the whole cryptocurrency ecosystem is still very small, demand from actual masses is yet to occur and we're working on that. This proposal both brings more Dash into the economy, but also creates demand for it.
     
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  7. Argon31

    Argon31 Member

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    $150/Month Hosting? Hmmmm...I am smelling greed..

    When you already have a funded project, what is the desperation to get more money out of the treasury?
     
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  8. bhkien

    bhkien Active Member
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    How many merchants accept Dash is enough?

    If we have enough number of Dash accepting merchants, how can we incentive users to spend Dash?

    Is there any strategy to let users spend Dash even with a small number of Dash accepting merchants?
     
  9. AlejandroE

    AlejandroE Active Member

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    Hello Unstoppable, thanks for your question.

    Yes, Bitnovo cards are still available in Spain, you can buy a Dash in different ways, some of them are:1- Bitnovo cards which work like a debit card and you can recharge them whenever you can with Dash. 2- Prepaid cards with Dash which you can redeem to your wallet (these cards are available in more than 15.000 places according to their site, our representant ther, Gorka, has confirmed that there Bitnovo cashiers "everywhere"). 3- Buy Dash directly in the Bitnovo website with bank transfer, debid card and BTC.

    However we are still studying our options and we will use Kraken as our first option. Let me know if you need some more info. Thanks so much.

    Best,
    Alejandro
     
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  10. AlejandroE

    AlejandroE Active Member

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    Hello Argon31, We feel like you think it's weird for the same team to have multiple projects, I'd like you to understand our strategy and our philosophy which we discussed on the "Los 3 amigos" podcast with @Mark Mason and @thedesertlynx

    Many projects ask huge amounts of money from the treasury to do everything in one proposal. That takes away the opportunity from MNOs to vote on what things they like and which things they don't like, also they take longer to produce results, and they also put strain in the budget.

    We have one project at it's core: Massive Adoption of Dash in Venezuela, and there are many angles to attack in order to achieve that, some are being attacked by other teams, such as Dash Youth, Dash Trip, Dash Conferences, etc. In our case, we develop solutions and things that work together with each other. We started with Dash Help providing support, then we created Dash Merchant that benefits greatly from the existence of the Support Center, business can call any time to solve their issues, working with merchants we found out there are many problems at the point of sale because of bad signal reception, bad smartphones, etc. So we came up with Dash Text, an easy way to pay with dumb phones and no internet connectivity. Now Dash Text is also one of the best tools to get Venezuelans outside the country to send remittances, so the Dash Remittances proposal benefits greatly from Dash Text.

    We create solutions that have synergy with each other, and we show quick results with each one of them, but they all belong to the same greater project, we just think its wiser to show results separately with each project, and give the opportunity for MNOs to support our initiatives one by one, and we also think it's healthier (specially considering the current dash price) not to submit a mega proposal asking for too many funds at once to do everything.

    But combining all our proposals, we have asked for less funds than various other proposals, and we have given way more results, we hope you can support us!
     
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  11. AlejandroE

    AlejandroE Active Member

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    You can have a million merchants, if people don't have Dash, it still won't matter, you need to put focus on the user as well.
    And yes this proposal is part of the strategy to do that, for users to spend Dash you need to put Dash into their hands organically, not with airdrops, the current state of remittances to Venezuela is a mess, and there's a huge market for it as we described in the proposal, so this is a great way to organically put Dash into people's hands, and combined with other efforts and strategies like discounts, dash back, publicity, they will spend those Dash in the merchants that already accept it, both users and merchants will continue to grow together over time, but you have to put focus on both.
     
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  12. TaoOfSatoshi

    TaoOfSatoshi Grizzled Member
    Linguistic Dash Nation Founder Moderator

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    Yes, you need the three cogs of adoption: Merchants, consumers, and liquidity. Without all three, we will fail to garner adoption. You have my support!
     
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  13. Unstoppable

    Unstoppable Member
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    I'll be voting yes.
     
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  14. AlejandroE

    AlejandroE Active Member

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    Thank you so much Tao!
     
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  15. AlejandroE

    AlejandroE Active Member

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    Thanks so much, like in all our projects we will work hard! The key is to keep focus on our strategy.
     
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  16. Sam Martin

    Sam Martin New Member

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    Finally, dash turning green again
     
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  17. DashToshi

    DashToshi New Member

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    You're asking for $150/mo for hosting when a $5/mo will surely be more than enough for a static website
    Also noticed you're asking the same amount for the other projects that you manage.
    Why not use Digital Ocean (which is a very reliable solution) and only charges you $5/mo for their cheapest plan?
    That would save $145 for this proposal only and you could probably do the same for all the other proposals that you manage.
    And I'm not even suggesting you to host all your websites in the same server (which would be totally possible and easy for static websites at least).
     
  18. AlejandroE

    AlejandroE Active Member

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    Hello, thanks for your comment and suggestion. Remember that we make projections of the budget based on the volatility of Dash (remember that in the last 3 months Dash and cryptos in general lost 65% of their value),and also notice that in some of our projects (like Dash Help and Dash Merchant) we work up to 2 more months without funding. So the budget is set up to be covered in all these cirumsntances.

    I hope I have properly answered you. If you need something else, let me know!

    Best,
    Alejandro
     
  19. Arthyron

    Arthyron Moderator
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    @AlejandroE -- Thank you for your pre-proposal, another great idea from a proven team already doing a tremendous job in one of our most critical markets. My only concerns are whether you feel that you and your team are too busy splitting your efforts, roles, and resources between so many projects? Additionally, the transfer of remittances internationally can often be very complicated from a legal standpoint. What are the legal concerns in actively operating a remittance service in Spain -> Venezuela? Will you need to obtain a money transfer license of some sort?
     
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  20. AlejandroE

    AlejandroE Active Member

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    Hello Arthyron thanks for your words and support Regarding yout concerns:

    1- Before Dash, we were already managing 4 succesful companies in Venezuela (and we still manage them today) with over 35 employees. The key here is to know how to delegate and have a profesional team that you can trust. We always measure our steps very well before any action is taken, so we can be sure every new project will have the proper attention. It is all about creating systems that can run by itselfs following your strategy, and the team below us is key on this.

    2- Regarding the legal issue in the remittances business, we are already doing all the research on that. However, Dash Remittances will first focus on teaching people how to remit money using Dash, then we will move on with the business model as a "middle man" for those who don't want to deal with the process.

    I hope I have answered your questions. Let me know if you need anything else.

    Thanks again!

    Alejandro
     
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  21. Quansen

    Quansen New Member

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    Do you plan to issue equity of this business to the upcoming Dash Ventures trust? How about issuing equity for the other business you set up in the past? If yes to what extend?

    Keep up the good work, you’re really making it happen #dashening
     
  22. fernando

    fernando Powered by Dash
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    I can confirm that about Bitnovo too. I worked on bringing them to Dash and have tested all their products. Re #2, they have two different options: vouchers that you can buy at 15k locations and are printed on the spot, and gift cards in some top retailers (usually next to Amazon, Netflix, iTunes and the likes).

    By the way, @AlejandroE, I don't live in Spain anymore, but I visit Madrid frequently. I'd be happy to help in any of those events or in any other capacity.
     
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  23. AlejandroE

    AlejandroE Active Member

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    Hello Quansen thanks for your questions.

    - We haven't thought on giving an equity of the business to Dash Ventures from the future projects or the previous ones. However we are not close to that. I'm looking forward to talk with one representative of Dash Ventures in the future and see if we can set a good agreement for both parties.

    Let me know if you have more questions. Thanks a lot!

    Best,
    Alejandro
     
  24. AlejandroE

    AlejandroE Active Member

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    Thank you very much Fernando, we will definetely let you know if we need some help in Spain (i'm sure we will), I know you can help us a lot since you lived in Spain, worked there and you already have contacts with Bitnovo.

    Best,
    Alejandro
     
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  25. peytonDW

    peytonDW New Member

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    Hi Alejandro!

    Have you had a chance to validate this model yet?

    Here is my thought process: The combined Dash teams in Venezuela have access to a large number of users already familiar with Dash. Some of them should be receiving remittances from Spain. It should be fairly cheap and fast to contact them, ask them if they are interested in Dash remittances, and then have them connect you to the remitters. If they believe that the inconvenience of connecting you to their remitters is greater than the value of receiving remittances in Dash, then this project is unlikely to be successful.

    If there is some degree of success, then you can use that information to create a model for how successful this will be as a best case scenario (you will never have an easier time than people who are already familiar with Dash and already receiving remittances from your target market). You can also identify early problems before funding.

    Thanks!
     
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  26. Unstoppable

    Unstoppable Member
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    @AlejandroE
    A survey such as this would be useful and interesting. If you do it, please post the results here. However, rather than asking your clients for the info on the remitters, which could make them nervous and undermine trust, perhaps ask the venezuelans if they have spoken with their remitters about dash, and if not, do they plan to.

    Edit: perhaps you could repeat the survey every six months or so, and provide incentives for participating in the surveys, with emphasis on providing honest answers in order to gather good info with which to adjust your strategy.

    Edit2:
    I would guess you have the worlds largest dataset of enthusiastic real-world crypto adopters, it would be extremely exciting to see the results and all of Dash could benefit from the results. I wonder if our data-driven marketer @fernando would be interested in lending a hand?
     
    #26 Unstoppable, Sep 19, 2018
    Last edited: Sep 19, 2018
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  27. blockchaintech

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    I had not seen this pre-proposal.

    I find the proposal for Madrid-Spain interesting (I do not live near) in this city lives a large community of Latinos and Venezuelans to do this event.

    Alejandro, if you take the proposal forward and want more help, collaboration and experience, in the area you have our support, according to our possibilities, you know that our door is always open to listen.
    I will follow closely the evolution of the pre-proposal, Thank you for proposing it.
     
  28. AlejandroE

    AlejandroE Active Member

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    Hello blockchaintech, thank you very much for your support. We are finishing some details of the proposal so we can make a direct integration with Dash Text as well. We will be live soon. Thanks a lot!
     
  29. AlejandroE

    AlejandroE Active Member

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    Hello, we are preparing the survey and we will post the results once we do it.

    Edit 1:
    A frequent survey with incentives sounds a great idea!

    Edit 2:
    We are totally open to work with Core and share our data so we can improve the marketing strategies together.

    Thanks a lot!
     
  30. AlejandroE

    AlejandroE Active Member

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    UPDATE
    New partnership: Dash Text and Bitnovo
    Dear Dash Community, after 2 months of research and hard work we are finally ready to make this project a reality.

    We are very excited to announce our new partnership with our friends of Bitnovo, one of the biggest exchanges in Spain and Europe. We have been in talks with the COO Luis Vaello, and they will be helping us to bring Dash into people hands.

    Bitnovo sells gift cards redeemable for cryptos instantly in more than 30,000 stores within Spain and Italy (Carrefour, Fnac, Worten, Eroski, Game, and thousands of little kiosks).

    The client just needs to buy the card, redeem the security code in the Bitnovo app and the funds will be instantly transferred to the wallet previously configured. And the most amazing thing is that it will be integrated with Dash Text, so the person just has to type their phone number and that's it. With this partnership Venezuelan living overseas will be able to send remittances very easy. #DashText #Bitnovo #DashRemittances

    [​IMG]

     
    #30 AlejandroE, Dec 10, 2018
    Last edited: Dec 10, 2018

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