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Pre-proposal: Dash & HBPay Adoption @ Foodtruck Bazaar

Discussion in 'Pre + Budget Proposal Discussions' started by Jamalulkhair Khairedin, Jul 9, 2017.

  1. Jamalulkhair Khairedin

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    Dash & HBPay Adoption @ Foodtruck Bazaar
    Anggerik Mall, Shah Alam, Malaysia

    Important Notice:
    This proposal has been revised to rationalize the total costing and make it more feasible. The total cost has been reduced from 419.75 DASH to 177.5 DASH. Original proposal can be viewed at https://www.dash.org/forum/threads/...-adoption-foodtruck-bazaar.15693/#post-133696


    This is a proposal to conduct a four (4) weeks Dash awareness and adoption campaign targeting a Food Truck Bazaar located in Shah Alam, Malaysia. The campaign will integrate a custom-made Dash-enabled Point-of-Sales system named HBPay which will be installed at the participating food trucks allowing a full-fledged digital payment experience and settlements to the customers and merchants.

    This proposal incorporates a subsidy-based incentive schemes as an integral requirement to accelerate the adoption of Dash throughout the campaign period. Customers will be incentivised to use Dash as they can purchase Dash at a discounted rate and subsequently enjoy paying for their meals at cheaper cost compared to normal fiat cash.

    The project’s goal is not only to increase awareness through initial installation of Dash wallet and ownership dash to the local population, but also giving them the first-hand end-to-end experience and understanding of Dash as a digital cash and payment method involving both consumers and merchants.

    The project will also position Dash as the earliest cryptocurrency adopted as the real day-to-day retail payment method in Malaysia from the perspective of the involved participants.

    Target Budget Cycle

    We are targeting the cycle of block 747720 - Fri Sep 1 23:47:12 UTC 2017.
    Official proposal will be submitted based on the input gathered in this thread.

    About the Target Location

    Shah Alam is located in the heart of Selangor state, Malaysia. The target area is a parking lot at the center of Shah Alam that has been converted by the local authority to be a Food Truck market during the night-time. Normally a total of 10 food trucks running their business at the area with estimated more than 300 customers per night.

    Map: http://bit.ly/anggerikMallMap

    [​IMG]

    [​IMG]



    Currently, all business activities are conducted exclusively using cash with no digital payment medium nor any infrastructure provided to facilitate any transaction using digital payment.


    About HBPay

    HBPay is a DASH enabled self-service Point-Of-Sale (POS) system based on Android which can be installed into any generic Android Tablets. HBPay was developed exclusively for Dash with the intention to provide easier adoption of Dash towards small businesses environment.

    [​IMG]

    HBPay consists of 2 components:

    1. [HBPOS] - HBPay - Android based Point-of-Sale (POS). Allows the customers to pick their orders via the tablet interface. Upon checkout, the POS will generate DASH QR Code ready for the customer to conduct payments. The POS will then be immediately notified via Google GCM and show the status of payment upon payment. The app can be downloaded and installed from Google Play at https://play.google.com/store/apps/details?id=io.hexabit.hbpay
    2. [HBWEB] - HBPay web interface. Allows Merchant to manage products and view transactions. Register for free at https://hbpay-testnet.hexabit.io/
    More information about HBPay have been posted in Dash Community forum at https://www.dash.org/forum/threads/hbpay-dash-point-of-sales-pos.15204/

    Currently, HBPay is only available for TestNet as more investment is required to provide proper infrastructure (servers, connectivity, devices & security) before it is ready for production use on MainNet. HBPay is a free application to install and configure. A small percentage of fee is charged to the merchants upon each transaction.

    Proposed Initiative

    The objective of this proposal is to turn food-truck bazaar in Anggerik Mall, Shah Alam into a Dash enabled marketplace where each of the food-truck to equipped with HBPay and all customers will be encouraged to use Dash (Digital Cash) as the method of payment. The proposed initiative will cover the following activities.

    1. Development, integration and maintenance of HBPay for the Mainnet.
    2. Forming a cooperation with the Anngerik Mall Food Truck Bazaar(Target Area) for the DASH campaign.
    3. Procure, configure and commission necessary infrastructures such as Internet & Wifi connectivity for trucks and installing android device HBpay POS for each truck.
    4. Preparing a dedicated marketing booth equipped with marketing materials and enough DASH to sell to customers.
    5. Hire and train temporary promoters to conduct active promotions throughout the duration of the event.
    6. Setting up temporary Liquidity Provider to provide one stop centre to buy and sell Dash at the event site within the duration of the event.
    7. Providing subsidize incentive for Dash purchase as a method to incentivise customers to use Dash instead of fiat cash.

    Event Details

    The event will be conducted for 8 weeks starting from 16th September 2017 until 15th October 2017 at the targeted food-truck bazaar location. The event hours will be between 7.00PM to 12.00AM. Based on the suggestion by the food truck owners after a series of discussions, a minimum of 2 months is required to gather meaningful assessment of the project outcome, as there are different patterns of users behaviours, based on week of each month. Observation of customer behavioural pattern is important for this project as it can be used to strategize further continuation of similar project in the future. However after gathering inputs from Dash communities, we have decided that a one (1) month event is more suitable & feasible.

    An event booth will be set up in the bazaar area to provide a central reference point about Dash and to act as a Temporary Liquidity Provider (TLP) throughout the event duration. A promoter team will be deployed to actively engage with the customers to explain, promote and to provide hands-on assistance regarding wallet installation, payment to HBPay POS, and digital transaction matters.


    Temporary Liquidity Provider (TLP)

    With HBPay, our actual intention is to position ourlselves as the Payment Processor provider as illustrated in the figure below.

    [​IMG]

    However, we acknowledge that there is yet any local exchange nor Dash ATM for people to easily buy and sell dash conveniently in our country. For the event duration, we will need to act as the Temporary Liquidity Provider (TLP) which will enable easy purchase and sell of Dash.

    Continuously, we will encourage more participation of local cryptocurrency enthusiasts to provide additional venues for the consumers and merchants to buy and sell Dash especially in peer-to-peer manner. We will observe this kind of development and reflect our findings in the Project Closure report. In addition, this campaign is also interested to see whether setting up a Dash ATM is feasible for the long-term Dash usage continuation in this district.

    Incentive Scheme

    The pertinent question that need to be addressed is “What would be the motivation for the users to move from using fiat based cash to digital cash?”. While finding the real answer to this question is still work in progress within the whole crypto-space, a short term direct monetary value incentive scheme is still required to spark initial adoption especially when the users are mostly having zero awareness about the existence of Dash as Digital Cash. The availability of marketing budget in Dash DAO provides the possibility of Dash to leapfrog other cryptocurrencies as the one that being adopted the earliest as the Digital Payment medium rather the pure speculative, which is admittedly the only use-case of cryptocurrency currently in the country.

    This proposal incorporates the incentive schemes as an integral requirement for accelerating adoption to the general mass specifically to the target audiences for the food-truck bazar area. There will be 2 main targets of the incentive scheme; the food truck owners (merchant), and the customers (consumers).

    I. Customers

    By average, a customer will spend approximately MYR20-MYR30 per person for purchasing meals at the food truck bazaar. We propose the incentive of 50% Dash value to be given for free to the customer in addition to each of their Dash purchase. For instance, if a customer purchases MYR20.00 worth of Dash, they will be credited with a total of MYR30.00 Dash into their wallet where the MYR10 incentive is funded by Dash budget of this proposal.

    The event promoters will provide hand-on guidance on how to conduct the food purchase at the HBPay POS terminal. Recurring customers will be encouraged to complete a survey.

    Ideally, this incentive will only be given to the customers who purchase Dash to buy meals at the food truck bazaar. Purchase limit per person might be imposed as a measure to prevent abuse, ie: persons buying to make quick money by dumping it back to the cryptocurrency exchanges. While a certain level of control will be put in practice by the project members in preventing possibilities of users manipulating this incentive, rigorous enforcement and control is not the primary focus of this project.

    To add more excitement in the campaign, additional free Dash can also be awarded through event engagement activities such as posting photos is twitter/facebook emulating the #firstDashWallet campaign, lucky draws, quiz contest etc. We will utilize the incentive budget above for this purposes.

    II. Food truck owners

    There will be zero-cost to the food truck owners. All costs to participate in this event will be covered in this proposal. Each of the food truck will be equipped with HBPay Android POS and the device cost, installation and internet connectivity will be provided for free by this campaign.

    To address concerns relating Dash/MYR (local currency) exchange fluctuation, all food truck owners can opt for a “rate pegging” scheme where they will be reimbursed the exact MYR value each time they exchange back their Dash to MYR with the TLP within the duration of the event. This risk will be bared by the project through the specific exchange risk buffer amount requested in this proposal.

    We hope that the food truck owners will eventually realize the value appreciation nature of Dash and will opt-out of the “rate pegging” scheme. We will set the term that opting out is non-reversible choice. Ultimately, we will also be hoping that the owners to keep Dash instead of selling it back, or they can also sell the Dash to their customers instead and add more liquidity to the Dash supply ecosystem in the area.

    Incentive fund shortage

    All incentive funds should be fully utilized and by the end of the campaign. We will improvise the distribution of incentive so that it will be completely dispersed to the consumers and local communities.

    In the event of shortage of the incentive fund prior to the event end date, the 50% incentive scheme will be stopped. Liquidity providing (buy/sell) of Dash will be ongoing until the end of event using the exact value without the incentive.

    Reports Prepared for the Dash DAO

    The project will provide the following reports to the dash DAO.

    1. Real time HBPay transactions view to monitor the volume of real usage of Dash for the food purchase.
    2. Weekly report of Incentive Distribution and Incentive Fund balance.
    3. Weekly images and short videos of the event.
    4. Weekly customer and merchant behaviour observation.
    5. Customer and merchant survey reports.
    6. Project closure report (lessons learned, opportunities of replicability and continuity, etc).
    Project Plan

    Below is the high-level project plan of this campaign (revised from 2 months to 1 month).

    [​IMG]

    Project Costing

    Below is the proposed project costing with respective budget cycles (revised from 2 months to 1 month, and put a limit of 200 customers per day).

    [​IMG]

    The Dash Incentive represents 63% of overall cost. These incentives will go to the customers' wallet as explained in post https://www.dash.org/forum/threads/...-adoption-foodtruck-bazaar.15693/#post-132954

    Below is the estimated cashflow for the incentive scheme. Item (DI) is the incentive cost listed as "Dash Incentive" in the proposal costing. (revised from 2 months to 1 month).

    [​IMG]

    About me

    Jamalulkhair Khairedin, Selangor, Malaysia
    (Co-founder Hexabit.io)

    I’m a Senior Manager of IT Application division in one of the largest local corporation in Malaysia. By trade, I am a certified Linux Professional, dedicated IT consultant, developer and IT trainer specializing in Open Source Software (OSS). I’ve been involved in many OSS development projects as well as providing enterprise grade IT solutioning consultation to various organizations including government agencies.

    I was previously contracted a resident OSS consultant for the Malaysian Government for 6 years. I’m continuously advocating knowledge and human capital development related to OSS and more recently into the Cryptocurrency technology.

    I have deep passion with web and android development, and my spare times are mostly spent developing free applications (cryptocurrency, education, music etc) for the benefit of the society.

    I am a Master Degree holder from MARA University of Technology (UiTM) specializing in
    Information Management and a degree holder in Information System in Universiti Tun Abdul Razak (UNITAR).

    https://www.linkedin.com/in/jamalulkhair/


    Update
    2017-07-22 - Major revision of project costing. Reducing the duration of event from 8 weeks to 4 weeks. Original posting can be viewed at https://www.dash.org/forum/threads/...-adoption-foodtruck-bazaar.15693/#post-133696
    2017-07-15 - Provide further detail for the Project Costing. Included estimated daily incentive cashflow and payout expected for respective budget cycles.
     
    #1 Jamalulkhair Khairedin, Jul 9, 2017
    Last edited: Jul 22, 2017
  2. MizzyMax

    MizzyMax Member

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    This is not a "Fund my business" organization.
     
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  3. Jamalulkhair Khairedin

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    Thank you for the reply. The bulk of the fund is for the "incentive scheme" in the campaign, only some to cover the cost of effort to facilitate the campaign.

    Most of Dash will end up in users wallet (including merchants). We (proposal initiators) have no intention to keep any the funds allocated for the incentives to ourselves. All of those fund are supposed to be fully disbursed to the local communities by the end of the event.

    The giving away free money to the population is still part of the proposal, as much as other proposals, but we try to go beyond typical approach by having a complete cycle of Dash usage as the real economic value transfer.

    I can continue providing the details in the Slack channel if required.

    Thanks



    Sent from my Redmi Note 4 using Tapatalk
     
    #3 Jamalulkhair Khairedin, Jul 10, 2017
    Last edited: Jul 10, 2017
  4. jimbursch

    jimbursch Active Member

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    I know nothing about POS software development, but it appears to me that having a functional POS solution is a big deal.

    How does HBPay compare to what @kodaxx is developing?

    This food truck proposal looks to me like an excellent test case for Dash -- you have a mini, contained economy that brings merchants and customers together. This is a proof-of-concept use-case for Dash.

    This means that Dash is entering a market without competition with credit/debit cards.

    @Jamalulkhair Khairedin -- I would like to see a video demonstrating HBPay. You appear to be relatively new to Dash, so you will have to overcome that with lots of participation here on the Forum, as well as Slack and anyplace else Dash is discussed. Do you know of any other Malaysians who are active in the Dash community?
     
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  5. Jamalulkhair Khairedin

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    Hi @jimbursch ,

    I just updated the costing in the main post when I received the notification of your reply. :)

    I'm aware about the initiative by @kodaxx and I love it. While some of the features are similar, HBPay is more towards customer self-serving terminal rather than merchant controlled device. I'll prepare a video to show the capabilities. In addition, HBPay is almost ready to be used. Development has completed at our cost. Just require a proper hosting for production.

    Yes, I'm relatively new to Dash, only start posting here since March (A pre-proposal for a educational contest sponsorship at https://www.dash.org/forum/threads/...-app-contest-as-dash-awareness-program.13904/). I'm grateful that @mastermined supported the sponsorship and the contest completed successfully.

    But, later I'm asking myself, what's next? Where can those winners use their Dash? Can they really appreciate owning Dash but unable to use them? Or could be some of them already uninstalled their wallet?

    So, I get myself developing HBPay. For me, the real value of Dash is if we can use them. I need to provide a venue where laymen people can see evidence that Dash is real. It's real and we can literally buy food with it. So, this is it. My pre-proposal to kick-start something unprecedented in my local community. I hope this can be a reality.

    Apart from development, I also actively providing technological talks and since this year, I talk specifically about Dash. For example the talk I gave at an Open Source Event in a local University. http://lanyrd.com/2017/moscmy/sfqmcc/

    Cheers
     
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  6. Jamalulkhair Khairedin

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    Only a couple through this Forum search. Malaysian are mostly coins neutral, maybe leaning more towards Bitcoin. There are many enthusiast mainly in the Open Source community, but mostly are using cryptocurrency as storage of value and speculation.
     
  7. Jamalulkhair Khairedin

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    Hi @jimbursch ,

    A short video of HBPay.



    This is just one part of the system which is the terminal. There is also a web based interface for merchant to manage their product and also to get transactions report. There is also a telegram interface for purchase and settlement notifications.
     
  8. TheSingleton

    TheSingleton Active Member
    Masternode Owner/Operator

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    I think you got a great proposal there I just fear that the high cost might turn off some MNs. So maybe if you could lower the subsidy per purchase or the duration that could help. Personally i would vote for it like it is.
     
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  9. Jamalulkhair Khairedin

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    Hi @TheSingleton ,

    Thank you for the advise. The costing can be optimized further. Duration of one month is also doable. Hope to get more inputs so that the final proposal is benefiting all parties the best possible.
     
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  10. djcrypto

    djcrypto Member

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    I like your approach and desire to add value.
    Values and remuneration seem reasonable.
    The format and professionalism in your proposal is refreshing.
    The proposal seems high quality and a good test case for a Dash economy.
    I will vote yes.
     
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  11. Jamalulkhair Khairedin

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    Hi @djcrypto . I really hope for Dash to get a proper traction the earliest possible. Cryptocurrency/Blockchain is already getting wider coverage in the mainstream media here, and it is just a matter of time before any of the coins to conduct something similar to what I'm proposing (and maybe at larger scale). PIVX is already gaining popularity among the Open Source enthusiasts here and for me that is a direct competitor to Dash. My proposal in a way is to provide direct and hands-on familiarity (with assistance of promoters) and harness the "Mere-exposure effect", now, while there are yet any clear front runner for Digital Cash.
     
  12. Jamalulkhair Khairedin

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    Dear All,

    I've updated the main post to provide further detail of the Project Costing and payout expected for respective budget cycles.

    I've also included estimated "daily incentive" cashflow so that everybody can understand the expected amount of Dash that will be circulated. This is to also to show the difference between actual amount the consumer will buy and the amount they can get for free.

    Thank you.
     
  13. joemoraca

    joemoraca Member

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    The incentive scheme is what makes this seem very expensive. Dash pays for the meals and then gives the seller a subsidy -- do you think it would work with the meal cost at 50/50 sharing? Also will the software be open sourced?
     
  14. Jamalulkhair Khairedin

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    Yes, the bulk is for the incentive. Technically dash is paying for 33% of discount.

    For example, a consumer want to buy meals at MYR30 equivalent to Dash. Instead of buying directly with cash, they:

    1) Spend MYR20 to buy Dash and they will get MYR20 equivalent of Dash into their wallet (this is proposal owner' Dash, not from this budget, column A in the cash flow table on the main post).

    2) Get themselves another MYR10 which is sponsored by Dash.org. Hence they now have a total of MYR30 worth of Dash which they can use to make the meal purchase.

    From the perspective of the merchant (food truck), they receive par amount of payment (RM30), only this time in Dash instead of cash. They are not benefiting nor contributing directly monetary wise, but they got to use the POS device for free during the campaign, with possibility of increase of crowds and revenues due to the campaign. They are also protected from price fluctuations as we will later buy back the Dash at MYR30 regardless of exchange rate.

    From the perspective of the proposal owner, we need to prepare around 15 Dash per day to conduct dash buy/sell (taking the exchange fluctuation risk) and we facilitate the process of incentive distribution.

    As you can see, we are not giving away the dash on absolute free terms. The consumer need to buy some Dash (and spend the Dash) in order to enjoy the incentive. This provides opportunity to really educate and train those consumers about the positive aspects of Dash, which is the whole purpose of this campaign which is to provide awareness of full Dash value exchange cycle.

    I need to also mention, consumers are not made forced to spend all the Dash they purchased. They need to spend but not the full amount, as we prefer for most of them to keep some in their wallet. As much as possible, our intention is to widespread dash ownership to our local communities.

    Regarding the open source, yes, have it in our plan. Probably towards Q1 2018.
     
    #14 Jamalulkhair Khairedin, Jul 16, 2017
    Last edited: Jul 16, 2017
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  15. Jamalulkhair Khairedin

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    There are suggestions for us to reduce the cost. I'm looking into possibilities as below:

    1) reducing the campaign to only one month.
    2) reducing the incentive percentage.
    3) maintain campaign duration but reduce the max number of consumers per day.

    Let me crunch some numbers.
     
    #15 Jamalulkhair Khairedin, Jul 16, 2017
    Last edited: Jul 16, 2017
  16. Jamalulkhair Khairedin

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    Below is the original proposal for reference purpose. I'm updating the main post with a revised costing.
    ---------------------------------------------------------------------------------------------------------


    Dash & HBPay Adoption @ Foodtruck Bazaar
    Anggerik Mall, Shah Alam, Malaysia


    This is a proposal to conduct an eight (8) weeks Dash awareness and adoption campaign targeting a Food Truck Bazaar located in Shah Alam, Malaysia. The campaign will integrate a custom-made Dash-enabled Point-of-Sales system named HBPay which will be installed at the participating food trucks allowing a full-fledged digital payment experience and settlements to the customers and merchants.

    This proposal incorporates a subsidy-based incentive schemes as an integral requirement to accelerate the adoption of Dash throughout the campaign period. Customers will be incentivised to use Dash as they can purchase Dash at a discounted rate and subsequently enjoy paying for their meals at cheaper cost compared to normal fiat cash.

    The project’s goal is not only to increase awareness through initial installation of Dash wallet and ownership dash to the local population, but also giving them the first-hand end-to-end experience and understanding of Dash as a digital cash and payment method involving both consumers and merchants.

    The project will also position Dash as the earliest cryptocurrency adopted as the real day-to-day retail payment method in Malaysia from the perspective of the involved participants.

    Target Budget Cycle

    We are targeting the cycle of block 747720 - Fri Sep 1 23:47:12 UTC 2017.
    Official proposal will be submitted based on the input gathered in this thread.

    About the Target Location

    Shah Alam is located in the heart of Selangor state, Malaysia. The target area is a parking lot at the center of Shah Alam that has been converted by the local authority to be a Food Truck market during the night-time. Normally a total of 10 food trucks running their business at the area with estimated more than 300 customers per night.

    Map: http://bit.ly/anggerikMallMap

    [​IMG]

    [​IMG]



    Currently, all business activities are conducted exclusively using cash with no digital payment medium nor any infrastructure provided to facilitate any transaction using digital payment.


    About HBPay

    HBPay is a DASH enabled self-service Point-Of-Sale (POS) system based on Android which can be installed into any generic Android Tablets. HBPay was developed exclusively for Dash with the intention to provide easier adoption of Dash towards small businesses environment.

    [​IMG]

    HBPay consists of 2 components:

    1. [HBPOS] - HBPay - Android based Point-of-Sale (POS). Allows the customers to pick their orders via the tablet interface. Upon checkout, the POS will generate DASH QR Code ready for the customer to conduct payments. The POS will then be immediately notified via Google GCM and show the status of payment upon payment. The app can be downloaded and installed from Google Play at https://play.google.com/store/apps/details?id=io.hexabit.hbpay
    2. [HBWEB] - HBPay web interface. Allows Merchant to manage products and view transactions. Register for free at https://hbpay-testnet.hexabit.io/
    More information about HBPay have been posted in Dash Community forum at https://www.dash.org/forum/threads/hbpay-dash-point-of-sales-pos.15204/

    Currently, HBPay is only available for TestNet as more investment is required to provide proper infrastructure (servers, connectivity, devices & security) before it is ready for production use on MainNet. HBPay is a free application to install and configure. A small percentage of fee is charged to the merchants upon each transaction.

    Proposed Initiative

    The objective of this proposal is to turn food-truck bazaar in Anggerik Mall, Shah Alam into a Dash enabled marketplace where each of the food-truck to equipped with HBPay and all customers will be encouraged to use Dash (Digital Cash) as the method of payment. The proposed initiative will cover the following activities.

    1. Development, integration and maintenance of HBPay for the Mainnet.
    2. Forming a cooperation with the Anngerik Mall Food Truck Bazaar(Target Area) for the DASH campaign.
    3. Procure, configure and commission necessary infrastructures such as Internet & Wifi connectivity for trucks and installing android device HBpay POS for each truck.
    4. Preparing a dedicated marketing booth equipped with marketing materials and enough DASH to sell to customers.
    5. Hire and train temporary promoters to conduct active promotions throughout the duration of the event.
    6. Setting up temporary Liquidity Provider to provide one stop centre to buy and sell Dash at the event site within the duration of the event.
    7. Providing subsidize incentive for Dash purchase as a method to incentivise customers to use Dash instead of fiat cash.

    Event Details

    The event will be conducted for 8 weeks starting from 16th September 2017 until 12th November 2017 at the targeted food-truck bazaar location. The event hours will be between 7.00PM to 12.00AM. Based on the suggestion by the food truck owners after a series of discussions, a minimum of 2 months is required to gather meaningful assessment of the project outcome, as there are different patterns of users behaviours, based on week of each month. Observation of customer behavioural pattern is important for this project as it can be used to strategize further continuation of similar project in the future.

    An event booth will be set up in the bazaar area to provide a central reference point about Dash and to act as a Temporary Liquidity Provider (TLP) throughout the event duration. A promoter team will be deployed to actively engage with the customers to explain, promote and to provide hands-on assistance regarding wallet installation, payment to HBPay POS, and digital transaction matters.


    Temporary Liquidity Provider (TLP)

    With HBPay, our actual intention is to position ourlselves as the Payment Processor provider as illustrated in the figure below.

    [​IMG]

    However, we acknowledge that there is yet any local exchange nor Dash ATM for people to easily buy and sell dash conveniently in our country. For the event duration, we will need to act as the Temporary Liquidity Provider (TLP) which will enable easy purchase and sell of Dash.

    Continuously, we will encourage more participation of local cryptocurrency enthusiasts to provide additional venues for the consumers and merchants to buy and sell Dash especially in peer-to-peer manner. We will observe this kind of development and reflect our findings in the Project Closure report. In addition, this campaign is also interested to see whether setting up a Dash ATM is feasible for the long-term Dash usage continuation in this district.

    Incentive Scheme

    The pertinent question that need to be addressed is “What would be the motivation for the users to move from using fiat based cash to digital cash?”. While finding the real answer to this question is still work in progress within the whole crypto-space, a short term direct monetary value incentive scheme is still required to spark initial adoption especially when the users are mostly having zero awareness about the existence of Dash as Digital Cash. The availability of marketing budget in Dash DAO provides the possibility of Dash to leapfrog other cryptocurrencies as the one that being adopted the earliest as the Digital Payment medium rather the pure speculative, which is admittedly the only use-case of cryptocurrency currently in the country.

    This proposal incorporates the incentive schemes as an integral requirement for accelerating adoption to the general mass specifically to the target audiences for the food-truck bazar area. There will be 2 main targets of the incentive scheme; the food truck owners (merchant), and the customers (consumers).

    I. Customers

    By average, a customer will spend approximately RM20-RM30 per person for purchasing meals at the food truck bazaar. We propose the incentive of 50% Dash value to be given for free to the customer in addition to each of their Dash purchase. For instance, if a customer purchases MYR20.00 worth of Dash, they will be credited with a total of RM30.00 Dash into their wallet where the RM10 incentive is funded by Dash budget of this proposal.

    The event promoters will provide hand-on guidance on how to conduct the food purchase at the HBPay POS terminal. Recurring customers will be encouraged to complete a survey.

    Ideally, this incentive will only be given to the customers who purchase Dash to buy meals at the food truck bazaar. Purchase limit per person might be imposed as a measure to prevent abuse, ie: persons buying to make quick money by dumping it back to the cryptocurrency exchanges. While a certain level of control will be put in practice by the project members in preventing possibilities of users manipulating this incentive, rigorous enforcement and control is not the primary focus of this project.

    To add more excitement in the campaign, additional free Dash can also be awarded through event engagement activities such as posting photos is twitter/facebook emulating the #firstDashWallet campaign, lucky draws, quiz contest etc. We will utilize the incentive budget above for this purposes.

    II. Food truck owners

    There will be zero-cost to the food truck owners. All costs to participate in this event will be covered in this proposal. Each of the food truck will be equipped with HBPay Android POS and the device cost, installation and internet connectivity will be provided for free by this campaign.

    To address concerns relating Dash/MYR (local currency) exchange fluctuation, all food truck owners can opt for a “rate pegging” scheme where they will be reimbursed the exact MYR value each time they exchange back their Dash to MYR with the TLP within the duration of the event. This risk will be bared by the project through the specific exchange risk buffer amount requested in this proposal.

    We hope that the food truck owners will eventually realize the value appreciation nature of Dash and will opt-out of the “rate pegging” scheme. We will set the term that opting out is non-reversible choice. Ultimately, we will also be hoping that the owners to keep Dash instead of selling it back, or they can also sell the Dash to their customers instead and add more liquidity to the Dash supply ecosystem in the area.

    Incentive fund shortage

    All incentive funds should be fully utilized and by the end of the campaign. We will improvise the distribution of incentive so that it will be completely dispersed to the consumers and local communities.

    In the event of shortage of the incentive fund prior to the event end date, the 50% incentive scheme will be stopped. Liquidity providing (buy/sell) of Dash will be ongoing until the end of event using the exact value without the incentive.

    Reports Prepared for the Dash DAO

    The project will provide the following reports to the dash DAO.

    1. Real time HBPay transactions view to monitor the volume of real usage of Dash for the food purchase.
    2. Weekly report of Incentive Distribution and Incentive Fund balance.
    3. Weekly images and short videos of the event.
    4. Weekly customer and merchant behaviour observation.
    5. Customer and merchant survey reports.
    6. Project closure report (lessons learned, opportunities of replicability and continuity, etc).
    Project Plan

    Below is the high-level project plan of this campaign.

    [​IMG]

    Project Costing

    [Todo] - Estimated not more that 500 Dash. The bulk of the cost is to fund the incentive scheme.

    Below is the proposed project costing with respective budget cycles.
    [​IMG]

    Below is the estimated cashflow for the incentive scheme. Item (B) is the incentive cost listed as "subsidy" in the proposal costing.

    [​IMG]

    About me

    [Todo] https://www.linkedin.com/in/jamalulkhair/


    Update
    2017-07-15 - Provide further detail for the Project Costing. Included estimated daily incentive cashflow and payout expected for respective budget cycles.
     
  17. TheSingleton

    TheSingleton Active Member
    Masternode Owner/Operator

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    Now that you have reduced the cost I think this is an all-round awesome proposal. Best of luck.
     
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  18. Jamalulkhair Khairedin

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  19. Jamalulkhair Khairedin

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