Project Live Log - Dash & HBPay Adoption @ Foodtruck Bazaar

Mar 21, 2017
73
41
58
43
Shah Alam, Malaysia
ridinglinux.org
Dash Address
XtNiXQPXn1uXVgLcyVJcjEQ5QEq8kYKMVy
@Jamalulkhair Khairedin Thanks for the updates.

This week you had another truck join the trial. Why did they join? Are there any more truck merchants considering joining?

Looking forward to more updates.
Hi,

Normally, there are 10 truck operating per night. Sometimes there are 12. 8 trucks are anchor trucks which are most likely to be at the site every night. The balance are part time trucks renting the space on rotation basis. The part time trucks are mostly reluctant to participate due to uncertainty of schedule. But once they realized that they are losing the competitive edge due to the discount, they have to adapt and accept the use of Dash.

I will update this in my report.

Sent from my Redmi Note 4 using Tapatalk
 
Mar 21, 2017
73
41
58
43
Shah Alam, Malaysia
ridinglinux.org
Dash Address
XtNiXQPXn1uXVgLcyVJcjEQ5QEq8kYKMVy
Mar 21, 2017
73
41
58
43
Shah Alam, Malaysia
ridinglinux.org
Dash Address
XtNiXQPXn1uXVgLcyVJcjEQ5QEq8kYKMVy
Ideas for expansion?
There are several ideas that we are considering.
  1. Model replicability is our main agenda since the beginning. We are currently providing inputs to several parties who are interested in replicating our project template. For instance the pre-proposal of Dash adoption in Pakistan. The template/model can be further improved with more initiatives running it.
  2. We will also designing a continuity proposal to the existing food-truck site, probably lesser discount/incentive, minimal promotional activity and lower daily max cap, but with longer duration, as we can see now that the customers are already accustomed to Dash payment.
  3. Expansion to other food truck area, or other business sector in Malaysia is also being explored.
  4. Liquidity is an important issue that require focus in 2018. People are now asking how can they buy/sell Dash outside of our project. BTC->Shapeshift->Dash is no longer a viable option. Direct Dash/MYR market is required. We are about to engage with Liberalcoins to see if there are rooms for us to collaborate.
  5. We are also looking at engaging business entities with roadshows and events participation.
Very much enthusiastic for 2018.
 

jimbursch

Well-known Member
Mar 5, 2017
837
501
163
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Liquidity is an important issue that require focus in 2018. People are now asking how can they buy/sell Dash outside of our project.
This is exactly how Dash is going to grow - as people have problems and figure out solutions.

What I really like about this food truck experiment is that it is a small scale complete market involving both consumers and merchants. You are learning a lot and acquiring fundamental, basic expertise about how a currency can get adopted.

I would like to see you try and expand this experiment into the food truck supply chain. Try to create something that the merchant can do with Dash besides just exchanging it for fiat.

What is something that every food truck needs to buy? For example, does every truck need to pay site fee? Do they pay rent for their space in the parking lot? Maybe you can get the parking lot operator to accept payment in Dash.
 
Mar 21, 2017
73
41
58
43
Shah Alam, Malaysia
ridinglinux.org
Dash Address
XtNiXQPXn1uXVgLcyVJcjEQ5QEq8kYKMVy
Hi @jimbursch,

Appreciate your comments and suggestions. Yes, we are extending our discussions with the food truck owners with regards to their supply chain. Something that is going to be our focus in 2018.

The main concern now is upcoming regulatory requirement of becoming a liquidity provider. This concern was highlighted briefly on our Week 8 report.
 
Mar 21, 2017
73
41
58
43
Shah Alam, Malaysia
ridinglinux.org
Dash Address
XtNiXQPXn1uXVgLcyVJcjEQ5QEq8kYKMVy
The central bank of Malaysia already published a press release and an exposure draft here.

This is a very interesting development for our country's cryptocurrency direction. However it is directly impacting our current project operations.

We will provide further updates and our proposed effort to handle this new development.
 

GrandMasterDash

Grizzled Member
Masternode Owner/Operator
Jul 12, 2015
2,915
1,119
1,183
Hope you can keep us updated regarding regulations and DASH <-> MYR exchange.
 
Mar 21, 2017
73
41
58
43
Shah Alam, Malaysia
ridinglinux.org
Dash Address
XtNiXQPXn1uXVgLcyVJcjEQ5QEq8kYKMVy
Hope you can keep us updated regarding regulations and DASH <-> MYR exchange.
Dear @GrandMasterDash , as of today there is yet any further announcement by the Central Bank. Below are the summary of the current status.
  • Central bank released an official press release on 17th December 2017 along with the exposure draft for public review and feedback.
  • Dash is explicitly being one of the checkbox in the exposure draft (page 42), so I presume it can be taken as compliment to Dash community.
  • The Central Bank invites written feedback on the specific requirements set out in the exposure draft. Responses must be submitted to the Bank by 14 January 2018.
  • The short term implication of this is that, the commercial banks are now taking "proactive" measures, which causing major local BTC exchanges unable to process MYR deposit and withdrawal.
I personally think that this situation is going to take quite some time until it is properly resolved.