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We need a payment processor native

Discussion in 'Pre + Budget Proposal Discussions' started by blockchaintech, Feb 3, 2018.

  1. blockchaintech

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  2. feedbands

    feedbands Active Member

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    I agree this should be an absolute priority for treasury funds.

    How is litecoin beating the DAO to this.

    Who would be a suitable partner(s) to solicit proposals from? What existing company can actually deliver this?
     
    #2 feedbands, Feb 3, 2018
    Last edited: Feb 3, 2018
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  3. Dandy

    Dandy Member
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  4. feedbands

    feedbands Active Member

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    Right, then really all that is missing is the publicity surrounding it's launch.

    We need some publicity, (is Ogilvy working on things like this?) to get us media placements when we have announcements like Alt36.
     
  5. Miner237

    Miner237 Well-known Member
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    We could launch a credit union in the states and then DASH could actually have a banking branch supporting loans on DASH etc... It can provide direct processing of DASH payments to fiat for merchant accounts. The operating expense to start up credit union is well documented about 100k to launch, and it could become self sustaining non for profit ongoing... dash can stilll afford this....
     
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  6. blockchaintech

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    We need a native payment processor that allows a business in b2b and b2c that in case of a rekt the financial value can be kept in fiat (usd and eur).

    A merchant who used the Dash network for 5 days ago and does not have this technology as a payment processor natively, will never use Dash or another crypto because he has lost money, and his user experience has been negative.
    And this could be assumed with a % of Dash's treasure continuously, allowing us to be the first platform in the world to do that.
    And that is disruptive in crypto.

    No crypto will prevail over time, as a method of payment, if someone pays a service or, and the next day that currency has lost 20% of its value. Dash is like Paypal a payment processor technology and its token the market gives it a value, (as if it were a share) and we always have to ensure that our users / customers are happy and satisfied.
     
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  7. Dashmaximalist

    Dashmaximalist Active Member

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    well said , if all it takes is 100k to start a credit union i am 100% for it , we should absolutely start it guys.

    imagine the peace of mind that comes with knowing the dash bank accounts will never be shutdown by big banks , that would be total kick-ass.
     
    #7 Dashmaximalist, Feb 6, 2018
    Last edited: Feb 6, 2018
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  8. blockchaintech

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  9. blockchaintech

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    A summary of a Discord conversation we had 4/14/2018 and that a colleague asked me to write in a post:

    -----
    Dash has to be used for what it is.

    a) Use it to be your own bank
    b) be an online payment system (decentralized FinTech). The potential it has for payments between borders in B2B and B2C is amazing but people do not know how to show it.

    Dash needs a native payment processor, as I have commented several times here and in the forum. how want to do Litecoin. And this NATIVE payment processor, can be financed from the Dash treasury, this would give security to all the international merchants that use. This should be the top priority of the treasury.

    Now there are Uphold, Spectrocoin, Gocoin but the costs of using third-party services, which are not NATIVE. This would be similar to using Paypal. And there is no competitiveness.

    We should try to:

    a) Do a strategic parthship with an existing payment processor (It is more possible)
    b) Buy an existing payment processor (difficult)
    c) Create an existing payment processor, which is the 'official payment processor of dash' (It is possible)

    The fee not should exceed 1.20% in all cicle dash-fiat

    Through Dash core, with the company created in New Zealand, it could be an option. But I would be more inclined towards a partnership with an existing payment processor.
    Merchants have to be able to 'freeze' Dash funds at a fiat price, quickly, comfortably from Evolution. Otherwise, the platform can not be used as a decentralized Fintech platform because of the high volatility that exists in the crypto market.
    I think that for the launch of Evolution, this ability has to be solved.

    For example in uphold from a merchant's point of view. You can indicate a dash address, which directly goes to fiat.

    Example1: I send 1 dash to X ....... 1 and this address is a fiat wallet ($, Eur, Yuan, etc.). Automatically it would go to fiat. (frozen)
    Example2: I send 1 dash to X ..... 2 and this address is a wallet dash. The funds are not frozen, they are at the mercy of market fluctuations.

    This ability has to be supported in Evolution in some way. If it can not be done, evolution will not be able to compete with Paypal from a merchant's point of view. And I would have to have a 'native' payment processor to do this.
    But that must be provided by Evolution app in a simple way, without the need to use third parties. To be disruptive and competitive with using ->strategic<- partnerships with third parties.

    A partnership with one payment processors connected to Evolution, with which to sign a 'strategic agreement' where a merchant uses Dash in the entire e-commerce cycle with crypto does not exceed its costs more than 1.20%,
    we have to think that sending money from a processor payment account to a bank account, always brings a cost.

    In summary: The entire fee cycle using a payment processor under Dash should not be more expensive than 1.2% fee

    If we want to be for a merchant: attractive, competitive and truly useful. And I repeat, we can do this with and from Dash's treasury, to be the first crypto project in the world to be a true decentralized payment processor: A decentralized FinTech. The rebranding of the brand image in which we are in process should look for that image.
    I speak from the point of view of utility for an on-line merchant and companies that move money between various currencies and move money across borders. B2B companies
     
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  10. SimontheRavager

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    I can tell you that the Dash Embassy D-A-CH is working on this issue very intense right now. We can not provide details for now, but it could be huge ^^
     
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  11. blockchaintech

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    a)
    It's important that the agreement be shielded with a long-term contract, (that is why you have a legal identity as a company))

    b)
    It's very important that the fee do not exceed 1%,
    It could be disruptive a: 0.95%

    I have no doubt that the treasury would approve this strategic agreement.
    Good luck comrade !!
     
  12. Arthyron

    Arthyron Active Member
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    I've spoken with @blockchaintech about this issue before, but just wanted to show my support for this project and I'm excited about the prospect of proposal owners coordinating and cooperating to see this concept realized. I agree that it has some pretty huge implications and these need to be clearly analyzed and articulated in a way in which there can be no room for error or half-baked implementation, but if correctly carried out--especially in concert with some of the other looming projects and services--could make a world of difference. Just wanted to make it clear that there are some MNOs in support of this project and I hope it reaches a stage of development where it can have a fair hearing.
     
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  13. blockchaintech

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    About this, I can advance:
    In a city of my conferences proposals, We have contacts with a company that is processing crypto-fiat payments. They would go to the conference and where we could get to establish a parnership.
    Step to Step.
     
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  14. jesccs

    jesccs Active Member

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    Dash Address:
    XjeuDTKHE3Pe5JMgQk5tka88jGhmdH7uCY
    Your point is very good. Any B2B or B2C business that is transacted with DASH will be operationally a roller coaster.

    We at AgroCognitive are a B2B and B2C services project and it would be great to have a payment processor in DASH. For now we are only considering an API development so that the client in could, in one step, using their currency fiat can send us in payment in DASH.
    The proposal to protect with a% of the funds of the treasury is revolutionary, but it would be better to use those funds to develop a DashPay. It would be a big step!
     
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  15. JimyHopes

    JimyHopes New Member

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    We could launch a credit union in the states and then DASH could actually have a banking branch supporting loans on DASH etc.
     
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  16. blockchaintech

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    From a point of view Dash's treasury could be similar to a credit union. The only thing that the 'loan' is not returned, since it is expected from who obtains it complies with the proposal that it launched. Then that legally happens to be a type of contract.

    The only thing that happens is that many people who launch proposals and then do not comply (scam), do not understand that they have established a contractual relationship, which can be defended PERFECTLY before a court, only that we have not reached that point. (at the moment ..)
     
    #16 blockchaintech, Apr 23, 2018
    Last edited: Apr 23, 2018
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  17. SimontheRavager

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    Loans in crypto are not working due to the deflationary nature. You would have more debt at the long end than you would have borrowed in the first. Thats only working in an inflationary environment.
     
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  18. blockchaintech

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    I suppose that from Dash Core know this project since it can be interesting to evaluate characteristics for Dashpay (Evolution)
    For Litecoin, they are developing LTCPAY based on the btcpay code.

    BTCPay Server is an open-source payment processor that conforms to the invoice API of Bitpay.
    This allows easy migration of your code base to your own self-hosted payment processor. According to BTCPay, the service would be a good choice for you if:

    http://bitcoinist.com/btcpay-core-developer-better-bitpay/

    https://btcpay-server-testnet.azurewebsites.net/
    https://github.com/btcpayserver/
    https://ltcpay.com/
     
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  19. blockchaintech

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  20. SimontheRavager

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    oh great ty for the info, we will check it. ;) and ty for supporting us, we saw a presentation from you with our Dash Embassy D-A-CH and Jan Heinrich Meyer on it @blockchaintech
     
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  21. blockchaintech

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  22. blockchaintech

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  23. kot

    kot Well-known Member
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    Thank you @blockchaintech
    I'll make a note on this. In case we are missing this after DV launch, kindly please send me a follow-up.
     
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  24. Damian Walker

    Damian Walker Member

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    Great, but I think It´s already listed here:
    https://docs.dash.org/en/latest/merchants/getting-started.html#payment-processors
     
  25. Arthyron

    Arthyron Active Member
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    It's not yet clear, but the "missing" components you're talking about here could potentially be fulfilled by Dash Ventures. Hopefully we'll know more about the parameters of DV soon!
     

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